Subscribe to Our Newsletter
Monday May 23, 2022
Bitcoin (BTC) $30,263.00   Ether (ETH) $2,041.44
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
No Result
View All Result
Swap USDT (TRC20) Instantly
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
Changelly
CryptoNinjas
Home Token Offerings/Listings

The Abyss aims to conduct the first DAICO, new protection mechanism for ICO contributors

Published by CryptoNinjas.net
01/16/2018
The Abyss aims to conduct the first DAICO, new protection mechanism for ICO contributors

The Abyss is a next-generation digital distribution platform with the vision to create a crypto reward ecosystem for millions of gamers and developers.

The Abyss, a next-generation digital distribution game platform announced recently the intent to launch a pioneering DAICO, a reinforced version of ICO merged with aspects of Decentralized Autonomous Organisation (DAO). The DAICO fundraising model was proposed by Vitalik Buterin, co-founder of Ethereum, earlier this month as a more responsible way to conduct initial coin offerings.

Founder of The Abyss platform, Konstantin Boyko-Romanovsky said, “DAICO provides tangible solutions to the ever-changing security needs and puts transparency at the center of innovation. We are confident in our capability to implement and improve Buterin’s idea. Our DAICO will be the perfect bridge between fundraising and team motivations control.”

The DAICO model will allow for refunds and raised funds withdrawal control by contributors. By design, DAICO minimizes the risk of fraud, specifies contribution and resolution rules, provides an option to shut the project down (in case the team fails to implement it), and excludes various kinds of attacks on the voting process.

Konstantin “Sephiroth” Boyko-Romanovsky, Founder

In turn, The Abyss offers an improved voting system with Oracles acting as arbitrators when it comes to the project closure and funds withdrawal. To provide an appropriate degree of expertise, Oracles could be appointed from industry professionals, with an established reputation in the relevant field, and would have the right to hold polls for the project’s shut down, leading to the remaining funds returned to contributors.

“DAICO is a new mechanism, and there should be ways to further strengthen it while maintaining flexibility, transparency, and security. Oracles and exclusive voting rules will do the job efficiently and reliably. Only project’s contributors will be granted a voting right. Controlled by the Smart Contract, the Company’s and Reserve tokens will not be eligible to participate with. We will utilize the proof-of-stake algorithm during the polls, but to make it impossible for the exchanges to take part, the weight of each Ethereum-wallet’s vote will be limited by a certain amount of tokens”, added Boyko-Romanovsky.

To discuss the topic or offer an idea, please, refer to our Telegram channel: https://t.me/theabyss, also send your questions and suggestions, regarding the DAICO, or even file an application to become an Oracle, via daico@theabyss.com

About The Abyss

The Abyss is a next-generation digital distribution platform for video games currently being created and built by the Destiny.Games company, founded in 2008. Destiny.Games perform full-cycle development, publishes own and third-party MMO games including AAA-games. The company’s portfolio includes successful titles such as TERA: The Next, Botva Online, Music Wars, Moswar and more.

20
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

The Abyss to use Waves for decentralized marketplace of goods and in-game

09/06/2019
The Abyss to use Waves for decentralized marketplace of goods and in-game

The Abyss, a digital distribution platform for online video games, announced it is cooperating with Waves Platform, an open network and decentralized environment for Web 3.0 applications, to implement a blockchain-powered marketplace of digital...

Read more
Load More

Discussion about this post

Where to Exchange

Crypto services suite in Spanish Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
America's first regulated bitcoin exchange Visit
  • Trending
  • Latest
Kiln completes $5 million funding round to grow blockchain staking platform

Kiln completes $5 million funding round to grow blockchain staking platform

05/19/2022
Volume on BitMEX Spot Exchange surpasses $10M in 24 hours since launch

Volume on BitMEX Spot Exchange surpasses $10M in 24 hours since launch

05/19/2022
Crypto transaction monitoring platform Merkle Science adds support for 1,200+ ERC-20 tokens

Crypto transaction monitoring platform Merkle Science adds support for 1200+ ERC20 tokens

05/20/2022
Oracle network for Algorand blockchain Algoracle closed $1․5M seed round

Decentralized oracle network for Algorand blockchain Algoracle closes $1․5M seed round

05/18/2022
Crypto transaction monitoring platform Merkle Science adds support for 1,200+ ERC-20 tokens

Crypto transaction monitoring platform Merkle Science adds support for 1200+ ERC20 tokens

05/20/2022
Kiln completes $5 million funding round to grow blockchain staking platform

Kiln completes $5 million funding round to grow blockchain staking platform

05/19/2022
Volume on BitMEX Spot Exchange surpasses $10M in 24 hours since launch

Volume on BitMEX Spot Exchange surpasses $10M in 24 hours since launch

05/19/2022
Oracle network for Algorand blockchain Algoracle closed $1․5M seed round

Decentralized oracle network for Algorand blockchain Algoracle closes $1․5M seed round

05/18/2022
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2022 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2022 CryptoNinjas Disclosures | Privacy Policy

Go to mobile version