ICOO's ICO - Smith + Crown


OpenLedger and CCEDK are holding an ICO from May 20th to July 31st for a service called ICOO (Initial Coin Offering OpenLedger). ICOO will offer a variety of services to startups launching their own ICO, including the ability to issue pre-sale ICO tokens in advance of their actual ICO.

OpenLedger and CCEDK are holding an ICO from May 20th to July 31st for a service called ICOO (Initial Coin Offering OpenLedger).

Users of ICOO can issue tradeable ICO tokens prior to the ICO close or official project launch. In most current ICOs, funds are held in escrow until the conclusion of the ICO, and coins/tokens raised are distributed either at the end of the ICO or when the platform is live. With ICOO, teams can access funds immediately and users can trade the pre-sale tokens on OpenLedger. Such tokens will be redeemable once the actual tokens become available. ICOO also offers a variety of additional services, including marketing, content development, and escrow services. They aim to be a solution for startups looking to raise funds through an ICO. One of the first use cases CCEDK points to is Beyond the Void, an upcoming real-time strategy game, which held a pre-launch ICO this year for Nexium, a currency in the game.

The fees associated with these services are funneled into a variety of uses. 40% go to the CCEDK team and advertising. 18% are used for monthly dividends to ICOO token holders or used for OBITS buyback. 39% are used to buy back ICOO tokens. The rest will be used for OBITS blogging program and Bitteaser’s advertising program. Note that these services are also run by CCEDK. OBITS, BitTeaser, and ICOO have a buy-back model of returning funds to tokenholders: at set periods, the company will offer to buy the tokens back from holders at prices determined in part by the performance of the underlying service.

In addition, the funds raised through ICOO’s ICO will be invested in a variety of funds, including several cryptocurrencies: DGX, OBITS, and Bitteaser. Presumably, proceeds from these investments will be part of the profit distribution.

Crowdsale Details

How are funds collected? You can buy directly on the site or through OpenLedger. Scroll to the bottom of their homepage for instructions on either method.
Token Distribution  All ICOO tokens will go to ICO participants.
Escrow Used It appears CCEDK will hold funds in escrow until the ICO is over.
Rate There are four prices tiers for the ICO. (May 20th – May 31st): 1000 tokens per 1 BTC. (Jun 1st –  Jun 15th): 952 tokens per 1BTC. (June 16th – July 20th): 850 tokens per 1 BTC. (July 21st – July 31st): 775 tokens per 1 BTC.
Currencies used BTC

How do the coins or tokens work?

How are they used? ICOO tokens entitle token holders to a portion of profits associated with selling the ICOO services. The allocation of revenues is complicated: after portions have been removed for fees/commissions, the remainder gets invested in a variety of funds. The proceeds from these investments constitute the payouts to token-holders.
What is the market for these coins? These tokens function like shares in the ICOO project. They are not used in the delivery of the ICOO service.
How are they produced? A maximum of 20,000,000 tokens will be created through the ICO, and no additional tokens will be created.

Who is the team behind CCEDK and ICOO?

The name behind this ICO is CCEDK’s CEO Ronny Boesing. The project appears linked with CCEDK’s other initiatives in OBITS and Bitteaser. CCEDK features ICOO tokens as part of its growing ecosystem.

Learn More

[1] The model is similar to Factom’s approach of having Factoids and Entry Credits. Antshares function similar to the former, Antcoins similar to the latter. The two differences are that Antshares aren’t used to buy Antcoins directly but instead earn them during the block creation process. The second key difference is that Antcoins will be tradeable.

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