The Truebit team in collaboration with BKDF (Brooklyn Design Factory) have released a prototype UX/UI for the interactive coin offering based on a third-generation protocol design outlined here. We invite you to try our prototype deployed on the Rinkeby Testnet, and we would be delighted to hear your feedback at firstname.lastname@example.org and email@example.com
Testing the IICO Prototype Steps
- Go to http://iico-dev.truebit.io/home
- Add Metamask extension to your browser https://metamask.io/
- Go to your Metamask settings / advanced, and enable Show Hex Data
- Switch from the main Ethereum Network to the Rinkeby Test Network
- Acquire Rinkeby Testnet tokens from this free faucet: https://faucet.rinkeby.io/
- Check out the IICO prototype and video walkthrough here: http://iico-dev.truebit.io/faqs
Video Walkthrough to Use the IICO Platform
What is an Interactive Coin Offering or IICO?
The IICO is a token sale mechanism proposed by Jason Teutsch, Vitalik Buterin, and Christopher Brown, in which buyers can specify minimum and maximum prices for their participation.Its price discovery mechanism attempts to maximize market information for buyers so as to converge to a true market price. It incentivizes spectators to assist the smart contracts with complex operations.
Read the IICO paper HERE
What problem does the IICO solve?
Traditional distribution methods, such as capped or uncapped sales, fail to guarantee both certainty of participation and certainty of valuation at the same time. In an IICO, a fixed amount of currency at the time of purchase buys at least a fixed fraction of the tokens in the sale.
Learn more HERE
Why is the IICO more transparent and fair than a traditional ICO?
The protocol provides participants with live market information, Buyers who purchase small amounts have similar purchase opportunities as whales.
Why is this user interface important? How is it making a difference?
The graphical UX/UI platform provides participants with the necessary tools and charts to make pricing judgements. Buyers can experiment with the available tools before committing to purchase ranges. Observers can monitor real-time bid statistics and earn rewards by poking bids in or out.