Foundico.com: Why can we be trusted?
Foundico ICO listing Platform
Since the proliferation of ICO projects began, there has continued to surface, a need for prospective investors to have a reliable means or some very effective method of determining which of the many projects are genuine and viable, and which ones have been compromised or have the tendencies of turning out to be scams. Most times, it takes a lot of observation and study before you can reasonably say which one is safe or not. But even on the average, it is not that easy, and many ICO investors have had their fingers burnt from unscrupulous campaigns. At other instances, an original project could have turned vulnerable and consequently hijacked by hackers to create a big mess. Thus, the need to get real information and updates about every ICO that pops up asking for your hard earned money.
A tenable solution is the use of ICO monitoring instruments, which are the listing platforms. Although, there are only yet a few, their services are germane, as it has helped saved a number of investors from losing out their monies.
One of the very first and biggest ICO listing platforms is the Foundico platform (featuring on foundico.com). The platform gives comprehensive information on all the projects that are listed on the website. Hence, Foundico only lists verified and trusted projects. Those projects may be blockchain based or not.
How does Foundico work?
The Foundico ICO listing platform gathers ICOs and pre-ICOs that have been listed on the website, in such a way that allows people view an analysis that has been created for each project. Each of them is attributed with an ICO score, and a foundico success rating (FSR), based on certain met criteria. ICO score are calculated based on how much information has been obtained and recorded about the project, for use on the platform. Foundico makes use of thorough investigative assessment criteria that have been divided into five groups, and which helps it arrive on a conclusive ICO score. These five group of assessment indicators are the general information about the project (which comprises of the project name, currency code, project description, website address, ICO start date and time, as well as the completion date and time), the financial information which includes details about the soft and hard caps, product details as contained in a white paper, marketing methods and effectiveness, and lastly, the development team with how much experience and professionality traits they exhibit.
A key approach that has an input into how much rating score an ICO gets, is the use of a ‘verification of contract address’ technology which is to be introduced on the Foundico platform. By this, all listed ICOs would only have been listed with a good rating, after the intended donation address for the project has been verified and recorded on the listing platform. This is important because it would serve as a double check for prospective investors to be sure that their funds are going to the right place, and that there is no looming diversion of same.
Foundico success rating (FSR) on the other hand, is an indicator to show how much progress an ICO has achieved; be it that the project is still running or has ended. The FSR is generated through a rather simple comparison of already raised funds per time, to the overall amount that was planned; whether at the soft cap stage, or the hard cap.
So as to ensure authenticity of information and claims, which is a core essence of the platform, Foundico does a reasonable amount of background work in confirming every important information about an ICO, before they are made to go live on the platform.
Another factor that affects assigned ratings is the completion (or not) of a KYC process. It is easier for an ICO to get a total good rating, if the development team has been adequately identified by the platform. If a team declines to go through the identification process, their project thus can only get a possible 5 score rating, which may be too low to earn the trust of a prospective investor. The rating as shown on the user Foundico profile, speaks a lot on the viability prospects of the project, as presented to the investors who visit the site for the purpose of a confirmation. Thus it is expected that every listed ICO, targets to attain the highest possible rating. This can be done by providing more authentic and useful information about the project and the crowdfunding.
How ICO projects get listed on Foundico
Now, coupled with the fact that all listed projects are scrutinized before they gain a place, the platform does not pre-select or list a project just because they had seen it announce its offering, somewhere on the internet. All listed ICOs must be duly registered by the developers or their authorized representatives. Basic registration occurs in a series of few simple steps. Firstly, a registration form is completed, and a subsequent email verification. After this, the project can be listed, and moderated within 24 hours. There are other basic requirements that are prerequisite to considering an ICO for listing; such ICOs must have a detailed website, and a well informative white paper.
There are premium user options which allows all registered users who have subscribed to the package, access additional benefits on the platform. However, the premium status does not influence the ICO score or the FSR in any way.
Other features on the ICO listing platform, includes a blog link which allows you access news and updates on trending topics in the world of initial coin offerings, and investments. You can also view history of ICO programs with their success rates, as well as present and upcoming ones, each with its own statistical data that could help the investor come to a decision.
Visitors can get news updates by subscribing via email, while there are interactive social media platforms too, where people can connect and get useful information. Foundico has a user support function.