According to recent case study more than 70% of ICO launched in 2017 to 2018 are SCAM and these projects had raised millions of dollars, thousands of these projects already dead in June 2018. More than 1 billion dollar worth of crypto currency has been stolen from users who are newbie and this hacker had taken advantage of dark web. So if we want to grow our crypto space and protect from these scammers then we need a platform or company that govern newly released ICO and also protect users from scam projects.
Eqwity platform is designed to support self regulatory decentralized ICO governing system that will encourage only real projects and protect users from fraud and SCAM ICO. Eqwity platform ecosystem consist of several phases; in the first phase they will introduce new concepts and standards of ICO market that will fix out major downfall and potential risk of current ICO market. In the 2nd phase of their ecosystem building they will introduce ICO decentralized governance system and in the last phase they will deploy their own decentralized token trading exchange and also they will help out new start ups to achieve their goals.
Eqwity has introduced new term of ICO known as ICO.E in which bidirectional trust and transparency will be deployed between investors and project founders through a new model called as proof of viability mean as initial coin offering including eqwity airdropping. Today until now investors has to pass KYC and other verification level to participate in ICO due to money laundering and some other issues. Eqwity has introduced new term know as KYF (know your founder) that includes police record checking, identity and background checking. In the current market only investors do little bit research on projects where they want to invest but they cannot able to ask founders about their identity.
Every project submitted for ICO on their platform will be divided into different parts based on their financial goals that must be ensured audited. After this their project will be send to group of auditors who will take a brief look over it and KYF, background checks, skill tests and simulations will be made necessary. Safety auditor duty will be to find out possible fraud, irrelevancy and possible outcomes to ensure safety for the investors. After audited every project will be made available to check out via blockchain network that will remain until the end of ICO or successful completion of ICO.
Financial stability of every business model is different and also it is almost disappeared in block chain startup terms and it is necessary to check out proposed project long term financial stability. As we have seen a high no of failed projects the investors want to see the materialization of project in which they are willing to invest like after the total amount raised via ICO will be spend completely etc. To start using Eqwity platform start up has to submit necessary documents and also they must have to hold at least 10 tokens of their platform. Through smart contract audit process all promise done by founder will be kept in blockchian network such as specific condition token burning etc.
After completion of audit process then project will be listed on their platform for community listing in which platform users will vote for their favorite project and the project that will get more votes will be listed first. After all necessary steps then Eqwity team will contact founder of that project for listing or landing page setup through their dashboard. The listed projects will be promoted for free through social media channels, event and other databases so the project start will able to easily reach their project hard-cap.
After every successful project ICO.E the investors will be given a thank you gift from the founder also they will given voting right, dividends etc. Blockchain stock stage who would like to airdrop will be given an opportunity to list on BSE30 or on their exchange depending on their market capitalization. Blockchain stock exchange smart contact will work as bridge and record all transactions done by founder to ensure real time updated company registers. Their main aim is to reduce recent high rate project failing by providing mentorship so they can figure out their strategic mistakes as well as their financial plans. They choose EOS instead of ETH platform for tokens as EOS is a recently developed platform that do not have any major scalability and usability issues and also have fast transaction time.
