PR: Community Choice Gives Power to Backers – KICKICO Announces Community Choice Function
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MOSCOW – As a first in a series of major new initiatives, KICKICO, bringing DAO into the ICO landscape, is announcing the launch of Community Choice, an ambitious new function that will give the crypto community the ability to vet, rate, and filter the ICO space and to determine which ICOs are worth launching. The launch is aimed to facilitate better involvement and seamless interaction, including the 55,000 strong KICKICO community. By establishing the Community Choice vote, KICKICO is giving a voice to backers so that they have a more meaningful say about what campaigns should launch and grow. Meanwhile, this platform becomes more than just a launching pad: It is also an invaluable standard for weeding out dodgy ICOs.
Through Community Choice, the community evaluates and votes on ICOs. Afterwards, the campaigns are the redirected to a moderating team for a final verification of the legal and technical compliance of a project. But Community Choice now means that the moderators themselves are no longer involved in making the subjective decisions about what is a good or bad platform.
KICKICO has been working with a trial version of the Community Choice and the new rating system.
Criteria for Voting and Participating
For a user to have a vote on an ICO, he needs to link his account with an email address and verify the account wallet. This verification is needed is to ensure the security and authenticity of the user. (Fake users will not find it profitable to go through this step.) Verifying the wallet comes with a 100-KICK charge in order to prevent illicit bot activity during voting, a small fee that protects against fake accounts and votes. Meanwhile, projects wishing to get onto the platform and face the Community Choice vote need to pay 2000 KICK, which is also aimed at filtering out scam projects and dubious ICOs. KICKICO then immediately burns this fee, helping to raise the market price of the token. The company also burn tokens that are used to vote for campaigns, which again increases the value of the tokens.
The KICKICO platform has a weight index to give more say to those who are more vested in the voting and analysing process of ICOs: The more KICK tokens one holds, the higher the weight, but kept within reason by a 30-times multiplier maximum; and this multiplier will be monitored and adjusted going forward so that one person does not have too much say or sway in the voting process. Also, the lifespan on the KICKICO platform will impact the weight added to a vote.
“Community Choice has duel benefits for both ICOs and projects, as well as for investors, backers, and the entire ICO ecosystem,” says Anti Danilevski, KICKICO’s CEO. “The fact that KICKICO is allowing the community’s voice to be heard gives real power to launching these new ICOs, and removes worries about scam ICOs. KICKICO hopes that users and ICOs will join this platform in order to support an exciting and strong ICO culture. And if you believe that your own project is good, let the community judge and help you launch. Get rated, get views, and see how the community reacts to your product.”
About KICKICO:
KICKICO is a blockchain platform for fundraising in cryptocurrencies, that collected more than 84 000 ETH during its ICO in September and was named “ICO of the year” by BTC CIS AWARDS. By the end of 2017, KICKICO has 55 000 people community, KICK Coin is traded on 8 exchanges, KICKICO launched more than 10 projects on its platform, that successfully completed their ICOs and raised more than 200 000 ETH of total funds. Among them: Micromoney, Hacken, Universa, Playkey, INS, Storiqa etc, our token is traded on 8 crypto exchanges. One of the main achievements is Cryptospace Moscow – one of the most global blockchain and crypto event of the year, which took place on in December 2017 and gathered more than 3000 people and 59 top blockchain and crypto experts from all over the world.
KICKICO Telegram Group
https://t.me/kickico
Contact Email Address
[email protected]
Supporting Link
http://kickico.com
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U.S. Corporate Customers Barred From Bitfinex’s Margin Markets
Multiple concerned U.S. corporate customers of Bitfinex have posted on Reddit after discovering that they were unable to access the exchange’s margin trading services. Although Bitfinex has previously indicated that it would no longer allow U.S individuals to access the exchange’s services, Bitfinex’s support portal currently states that the restrictions do not affect U.S. corporate customers.
Also Read: U.S. Regulators Send Tether and Bitfinex Subpoenas
Bitfinex Restricts U.S. Corporate Account Holders From Accessing Margin Markets
Last year, Bitfinex announced that it would terminate its services to U.S. retail customers in November. However, the company assured corporate customers that “the restriction affects individuals accounts only” – as currently stated by the FAQ section of Bitfinex’s support portal.
Margin Traders Left Unable to Close Positions
Later that day, a Bitfinex representative called “bill_bfx” contacted the Redditor, stating that the issue had been “forwarded to the team to resolve for you.” Bill_bfx stated that “a US corporate customer […] should not be using margin trading,” however, noted that “if you have open positions it is not acceptable to block you from closing them.”
The Redditor acknowledged the response and stated he would update the thread if his issue was resolved. As of this writing, no indication has been made that the situation has been resolved, despite bill_bfx responding to the Redditor four days ago.
Corporate Customers Seemingly Caught Unaware
As of this writing, the second Redditor has not received a response from Bitfinex, despite directly questioning bill_bfx about the matter on a different thread. Though Bill_bfx did not respond to the Redditor’s query, however, a day later, Bill_bfx did find time to post a sarcastic response to a trollish comment on the same thread.
Do you think that more exchanges will move to restrict access from U.S. customers? Share your thoughts in the comments section below!
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Bank of Thailand Bans Banks From Cryptocurrency Activities
The Thai central bank has prohibited financial institutions in the country from five key cryptocurrency activities, including banning customers from buying cryptocurrencies with credit cards.
Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies
Banks Banned From 5 Crypto Activities
Mr. Wisit Santiprabop, the central bank’s governor, signed the circular which outlines five key cryptocurrency activities banks are banned from:
Investing or trading in cryptocurrency, exchanging cryptocurrencies, creating platforms for cryptocurrency trading, allowing clients to use credit cards to buy cryptocurrencies, and from advising customers on cryptocurrency investing or trading.
The central bank stated that “cryptocurrencies were not legal tender in Thailand,” the publication conveyed, adding that “it was worried that they may be used in illegal activities such as money laundering or supporting terrorism.”
Recently, the Thai government announced that it will not ban cryptocurrencies and is developing a regulatory framework for them.
Banks Complying
He explained that there are some areas that banks need to examine before being able to comply. For example, to prevent customers from buying cryptocurrencies using credit cards, he elaborated:
In Thailand, people are buying digital currency. So the bank is asking for time to check the type of transactions that customers [make when they] swipe cards that are associated with digital currency. If applicable, the bank may have to suspend the service.
Recently, banks in the US and well as the UK have also banned their credit card customers from buying cryptocurrencies.
As for cryptocurrency traders, Poramin Insom, managing director of the Thai crypto exchange TDAX, said that “there is no impact on people who are investors of cryptocurrencies,” the news outlet quoted him. However, he explained, “TDAX is affected by this announcement, which makes the process of opening an account with the bank take longer. Bank of Thailand requests more documents.”
What do you think of the Bank of Thailand’s action? Let us know in the comments section below.
Images courtesy of Shutterstock, Bangkok Bank, SCB, Krungsri, and Bank of Thailand.
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