ICOBox Launches Groundbreaking "ICO for ICOs" Offering
GEORGETOWN, Ky., July 27, 2017 /PRNewswire/ -- ICOBox, the premier provider of box solutions for conducting coin offerings, today launches its "ICO for ICOs" no cap sale of its ICOS tokens which permanently alter the economics of how token launches are sourced and managed.
With crowdfunding volume hitting $34 billion in 2015, token offerings are a new but quickly developing niche. Top 8 ICO raised $240 million in 2016, according to Outlier Ventures. Two largest projects to date – Tezos and EOS.IO – sold over $200 million worth of tokens each, according to Crypto Consulting.
ICOBox is gearing up to offer the public its ICOS tokens, which are ERC-20 standard-based Ethereum tokens. ICOS purpose is to help promising but underfunded new projects by conducting their ICOs on ICOBox platform. All net proceeds from the sale of ICOS tokens will go towards sponsoring the conduct of such promising crowdfunding projects. ICOBox intends to continue this financial arrangement while the funds raised through ICOS sale last. The details on ICOS tokens and the offering will be available at icos.icobox.io soon.
ICOS tokens issued by ICOBox will give their holders a fixed discount of on average 75% on new projects' tokens issued through ICOBox platform. ICOS tokens also grant their owners the right to vote on the selection of such prospective ICO projects to be conducted on ICOBox platform. The list of first candidate ICOs will be presented for ICOS token holders' consideration before the ICOS token offering ends, with voting following the ICOS token issue.
Projects seeking to conduct their ICOs through ICOBox will find several revolutionary advantages of working with ICOBox. The company offers fixed-price service options and packages, which help drastically minimize the cost of conducting their ICOs. If a project does not have sufficient funds to pay for its own ICO, it can present its business idea to ICOBox. After completing an expert review, ICOBox will reject projects which do not qualify and present the rest to the ICOS token holders' vote and comments. The ICOs of the projects with the most votes will be funded from the proceeds from the ICOS token sale. This arrangement requires that the prospective ICO organizers agree to the main condition: to give ICOBox and its ICOS token holders an agreed number of their future tokens which could be exchanged for ICOS tokens by ICOS token holders at, on average, four times their value. Essentially, they are paying for their ICOs with their future tokens.
The voting by ICOS token holders is conducted using "one token, one vote" principle. ICOBox experts review submitted projects, rejecting, if necessary, those that do not offer a clearly attractive vision. But final choice is up to the decentralized and entirely market-based community of ICOS token holders who decide the projects' fate by casting a collective vote.
"We are offering cost control and minimization of risks of this type of token offerings," said Nick Evdokimov, ICOBox co-founder. "ICOBox essentially allows the right projects to conduct their ICOs in exchange for ICOBox token holders' wish to obtain an average discount of 75% on their tokens."
Once the ICOBox token issue concludes, the ICOS token holders will be able to exchange their tokens for the new projects' tokens issued with the use of ICOBox tools. This exchange rate applies only to tokens issued by the projects selected by the ICOS token holders. The token swap can occur at any point after the start of the relevant token presale, even after the sale is concluded, as long as the tokens are available on the ICOBox platform.
"ICOS is the first token which allows blockchain community to vote for the best projects to be brought to life through their own ICOs," says Nick Evdokimov.
Before the ICOBox token sale concludes, the company will launch its platform for ICOS token holders' voting and conducting new projects' token sales. The prospective projects will be able to apply as soon as the ICOS sales end. ICOBox sale has no cap on its ICOS token sale, and there is consequently no cap on the number of future projects' token sales.
ICOS presale starts at 12 pm PDT on August 9, 2017, and requires a minimum purchase of 1,000 ICOS tokens @ 0.008– 0.009 BTC, depending on the time of the purchase. The ICOS public ICO starts at 12 pm PDT on August 15, 2017, and ends at 12 pm PDT on September 15, 2017. The minimum purchase at ICOS public token sale is just 1 ICOS token @ 0.01– 0.012 BTC, depending on the time of purchase.
This press release does not constitute an offer to sell or the solicitation of an offer to buy ICOS tokens, nor shall there be any offer, solicitation or sale of the ICOS tokens in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About ICOBox
Founded in 2017, ICOBox offers fixed-price services to projects seeking to sell their products and services via ICOs. ICOBox provides technical, legal and marketing services as part of its flat-fee packages. ICOBox was founded by three blockchain visionaries: Nick Evdokimov, a co-founder of SeoPult, an ex-CEO of AdInTop and Cryptonomos CEO and co-founder, Mike Raitsyn, a serial entrepreneur, and Anar Babaev, a Head of Digital Marketing at Cryptonomos. Details on ICOBox can be found at www.icobox.io. For more information or to submit project ideas, please e-mail [email protected]
Contact: Max Smetannikov, Denis Serikov, MVG for ICOBox, +1 646 205 7030, [email protected]
SOURCE ICOBox
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