From Singapore and built on Substrate, DICO seeks to offer a new platform for Decentralized Autonomous Organizations (DAOs) and crypto solutions, to receive funding before its launch.
This will be achieved through Initial Coin Offerings (ICOs), which were very popular in the past decade. DICO seeks to provide blockchain technology and cryptocurrency enthusiasts a new way to launch projects and receive tokens before their market launch.
DICO currently operates in Kusama, Polkadot’s Canarian network, in its KICO version by winning a Parachain auction. Right now investors can support Listen using their KSM tokens, a decentralized social network that seeks to innovate in the “Listen to Earn” concept.
A brief history of Initial Coin Offerings (ICOs)
After the launch of Bitcoin (BTC), the mother of all cryptocurrencies and which continues to lead in recognition and market capitalization to this day, computer and mathematical geniuses such as Vitalik Buterin, Gavin Wood and Charles Hoskinson began working on a new project.
Ethereum (ETH), the second blockchain with the largest market capitalization, managed to innovate in the cryptographic environment by integrating smart contracts. Thanks to this, the arrival of decentralized finance (DeFi) completely changed the relationship between people, the internet and their digital assets.
Ethereum’s funding was done through an Initial Coin Offering (ICO), and the founding team was able to raise 3,700 BTC in the first 12 hours. Almost 2.3 million at that time. Those who invested in the project with their Bitcoin received ETH in exchange, which today is essential to pay the Gas of the Ethereum Network.
Thanks to its enormous success, other projects decided to make their own Initial Coin Offerings (ICOs). A very successful one was organized by Aragon (ANT). On May 18, 2017, the Spanish team managed to raise 25 million dollars in ETH in less than 30 minutes.
However, as is common in all cultural environments, many malicious people used ICOs to finance projects that were never developed. In other words, Initial Coin Offering scams began to abound in the environment.
This scenario ended with the ICO bubble bursting, and with countries like China banning this sale of tokens in September 2017. And with this, the beginning of a new era of cryptocurrencies began.
Why use DICO?
DICO’s goal is to offer a secure environment for developers and investors of crypto projects. Its operation is also due, in one way or another, to the model of Initial Coin Offerings. The Polkadot and Kusama Parachain auctions invite people to support projects that will be able to use a slot on the Relay Chain. However, its features will be deepened in another article.
In any case, with DICO, projects that seek to be part of the DotSama ecosystem will be able to obtain their first round of financing. Then developers can decide on which blockchain to operate on. Even those who wish to operate directly on the Relay Chain, can take their first steps in DICO.
Since February 13, when KICO won a Parachain slot in Kusama, the development team has worked hard. We have witnessed the generation of the tokens, great advances in the application for Android devices, the launch of the Wikipedia and a scanner of its blockchain.
With the launch of the website, users can also trade on the project’s decentralized exchange (DEX). To do so, it is already possible to use the bridge that connects KICO blockchain with Karura, where users can send KSM or aUSD to start trading.
Various airdrops have also been held at KICO and people can mint, buy and sell non-fungible tokens (NFTs) and participate in the first ICO, which has Listen as protagonist.
The DICO protocol
One of the best features of DICO is its Investment 2 Earn protocol, because those who decide to invest are the big winners. For example, for every dollar or aUSD invested, people will receive 15 KICO tokens as a reward.
On the other hand, if the ICOs receive DOT and KSM, the reward in KICO tokens will be multiplied by 2 and if it is made with the cryptocurrency itself, by 5. In addition, the first investors to participate will receive another multiplier, all to encourage participation on the platform.
And for lovers of decentralized finance (DeFI) and Yield Farming, on the DICO platform they can also add liquidity to receive very interesting rewards with KICO-KSM and KICO-aUSD pairs.
Ambassador Program
As a way to strengthen its relationship with the community and expand knowledge and information about the project, from May 4, 2022, the DICO Ambassadors program comes into operation.
For this reason, we extend the invitation to anyone who wishes to participate and be part of the team. To do so, do not hesitate to contact us quickly.
Website: dico.io
Twitter: @DICONetwork
Telegram Global: https://t.me/dicochain
Telegram Español: https://t.me/DKUYe8w3mnNkMWUx
Discord: https://discord.com/invite/V2MASPX3Ra
GitHub: https://github.com/DICO-TEAM
