ICOBox, a Singapore company founded in 2017, is launching a revolutionary no-cap “ICO for ICOs” sale, which forever transforms the economics of the token launch process. ICOBox is a leading provider of flat-fee box solutions for conducting coin offerings for projects seeking to sell their products and services via ICOs. As part of its solution, ICOBox offers a tool kit containing technical, legal and marketing packages.
Now ICOBox is offering the public its ICOS tokens, which are ERC-20 standard-based Ethereum tokens intended to help promising but underfunded new projects conduct their ICOs on ICOBox platform. ICOBox will use all net proceeds from the sale of ICOS tokens to pay for the ICO tools for such projects. This financial arrangement will continue as long as the funds raised through ICOS sale last. Full details on ICOS tokens and the offering will be available at icos.icobox.io soon.
What ICOBox’s ICOS tokens offer their holders is a fixed average 75% discount on new projects’ tokens issued with ICOBox’s tools. Token holders will also be able to use their ICOS to vote (one token-one vote) on which future ICOs should be given ICOBox tools.
“ICOS is the first token which allows blockchain community to have a say in which projects should be brought to life through their own ICOs,” says Nick Evdokimov, ICOBox co-founder.
For projects seeking to conduct their ICOs ICOBox presents several innovative advantages. The company offers fixed-price service options and packages, which drastically cut down the cost of conducting an ICO. Projects which do not have funds to pay for their ICOs can present their business idea to ICOBox. After completing an expert review and rejecting projects which fail to offer a clearly compelling vision, ICOBox will present promising applicants to ICOS token holders for their vote and comments. Prospective ICOs upvoted by the decentralized and market-based ICOS token holder community will be covered from the proceeds from ICOS token sale. The catch is that their organizers must be willing to give ICOBox a set number of their future tokens which ICOS token holders could swap for their ICOS at an average rate of 1:4. Basically, the new project is paying for its ICOs with their future tokens.
“We are bringing down the costs and minimizing the risks of this type of ICOs. Essentially, cool projects can now conduct their ICOs using ICOBox tools if ICOS token holders are interested in obtaining an average discount of 75% on their tokens,” says Evdokimov.
This option is available only for tokens issued by the projects upvoted by ICOS token holders. The swap can happen any time after the start of new ICO’s presale, even after the sale is over, provided the tokens are still available on the ICOBox platform. The platform for voting for and holding new ICOs will be launched before the end of ICOS token sale. Projects can apply for ICOs immediately after the platform launch.
ICOS official presale starts on August 9, 2017, with the public ICO starting on August 15, 2017, and running until September 15, 2017. ICOS tokens will sell at 0.01– 0.012 BTC, depending on the time of purchase, with additional discounts offered at presale.