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What Is a Distributed ICO?

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In our previous posts, we looked at various problems that have negatively impacted the blockchain community. Between the inexperienced CEOs, scammers, money-hungry investors, and impractical projects, it’s not hard to see why so many blockchain projects fail before they really take off.

If blockchain technology is ever going to receive mainstream support, there first needs to be a clean break from the lawless, cowboy image that’s been associated with cryptocurrency since its inception. Unfortunately, this is easier said than done. Many of the problems which plague blockchain start-ups have become entrenched in the early days practices of the industry.

    • Appealing to high-risk investors, not people interested in the technology.
    • Too much focus on maximizing profits, not enough attention to building a loyal following.
    • Spending more time hyping projects than actually delivering on promises.

To solve these problems and increase legitimacy in blockchain projects, we’re proposing a new solution: the Distributed ICO. By addressing these issues in the early stages of a project’s lifespan, we can reduce the obstacles standing in the way between blockchain technology and mainstream adoption.

How does the Distributed ICO work?

The Distributed ICO seeks to keep blockchain projects on the right course, from their earliest stages all the way to their public release — and beyond. It does this by making sure that the interests of the project leaders are aligned with the interests of the investors at all times. That way, there’s no confusion about which direction the project should take.

Here’s what makes the Distributed ICO different from traditional ICOs:

    • Project funding is based on the resources a project needs to reach the end of their roadmap. No more inexperienced CEOs asking to raise tens of millions of dollars to launch a yet-to-be-defined, might-happen platform.
    • Funding plans are divided and sub-divided into periods and rounds. During this time, there are only a specific number of tokens available.
    • Projects receive funding in installments that materialize if – and only if – they keep their promises with investors.
    • Token holders are allowed to vote on the direction of a project at the end of each round.

Ultimately, the Distributed ICO helps keep developers, executives and investors on the same page throughout the life cycle of the project. What’s more, it requires additional organization and collaboration between the blockchain start-up and their investors. As a result, this helps to limit scope creep and reckless mismanagement of resources.

The end result is an investment plan and project roadmap implemented within a smart contract that increases transparency from start to finish, while eliminating the likelihood of investors falling victim to opportunistic scammers.

In other words, the Distributed ICO brings the project management strategies of enterprise-level organizations into the realm of blockchain start-ups. And by doing that, it legitimizes blockchain technology and makes it a more attractive option for traditional investors.

Want to learn more about Distributed ICOs? Or maybe you’re interested in learning how to run an effective marketing campaign for your blockchain start-up? ICO Success can help.

Stay tuned for more in-depth articles explaining just how Distributed ICOs work!

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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