ICOS token: how does it work

Over the past few days, I’ve received several hundred questions on the function of our ICOS token. To make things easy for everyone I decided to write this post which describes the principles of its operation and the market goals it accomplishes.

The token holder’s task is to buy tokens during the time of shortage but as cheaply as possible. And now imagine that the token sale has been completed, the project started working and proved its worth, and you still have the opportunity to travel back in time and buy its tokens even cheaper than at its presale price.

The project’s task is to conduct an impeccable ICO with an experienced team, and pay for the services with their own tokens. These are exactly the two tasks that are accomplished using the tool we at ICOBox invented. This tool is our ICOS token, which has the following characteristics:

- Unprecedented discount. ICOS token can be swapped for any token issued with our tools at a 75% discount on the new token. This is possible because all funds collected through the ICOS token sale will be used to provide ICO services to new projects without any upfront payment on their part. In exchange, the ICOS platform and its token holders get a preset number of the project’s tokens: for example, if a startup received 50 BTC worth of services, it will repay to the platform 200 BTC worth of its tokens. So we get a ratio of 1:4, and, consequently, a 75% discount. So if you buy $1,000 worth of ICOS tokens, you could exchange them for tokens of other projects worth $4,000.

- Minimization of risks. It is critically important that you can exchange your ICOS tokens at any time, whether at the start of the token sale or after its completion, and the timing of the exchange will have no affect on the exchange rate and the price. The tokens are available to you even when they are no longer available on the primary market.

- High quality. We prescreen unacceptable ICO applications, and you select the best project by voting. It is really you who are selecting the projects which will be given the ICOBox’s tools.

ICOS token is the first product token to be implemented using Ethereum (ERC-20) standard. Its function is similar to a discount card: It’s a tool which allows you to minimize both the cost of buying tokens and the risks associated with it. You control the situation at both stages of the process: during the voting and during the exchange.

ICOS token is a key to a private club for token holders who are willing to cooperate with us to transform the ICO market to make it stable and vast. By buying ICOS tokens, you are making a significant contribution to the implementation of hundreds of quality projects — naturally, with a dash of self-interest.

We will be happy to welcome you to our ICOS token holder community.