Last friday, the first token sale hosted on Icofunding, Flixxo, finished. The ICO has been able to raise 11.511 ETH, equivalent to $5.536.791 (at current valuation) in just 4 weeks of time.
Flixxo is a community based video distribution platform that uses bittorrent and blockchain technology to create a more fair ecosystem for content producers, watchers and advertisers. The platform is fueled by their token Flixx, which circulates between the different parties using the platform.
Icofunding is happy with the first results of their ICO. As, Alejandro Gómez de la Cruz, the CEO of Icofunding, says: “We are really excited about Flixxo’s ICO success. The project has a great and honest team to achieve their decentralized visión of media content generation and consumption. We are working to announce the upcoming projects at our platform this week”.
Icofunding believes that ICO’s are a powerful and innovative way of raising capital with a lot of potential, but also acknowledges that there have been a variety of scams and weak projects that have been able to raise a lot of capital by hosting an ICO. Those projects looked very promising, but turned out to be a loss for token buyers.
Icofunding thinks that ICO’s should be protected against a bad image, that is why at their platform there are only ICO’s being launched that have gone through an important screening of the overall quality of the project, to make sure the startups organizing Token Sales on Icofunding are promising and trustworthy.
Another feature that Icofunding has developed is their Coin Governance System for ICO’s. This system is created to protect token buyers from scams and not-promising projects. It has different degrees of governance, the most heavy form of governance establishes milestones a startup needs to achieve. When a milestone is achieved, part of the capital will be unlocked for the startup. In case a startup does not achieve a milestone, capital will be locked and token holders can withdraw their participation.
Another level of governance that is being used by Icofunding is vesting. Through vesting, part of the raised capital will be locked for a certain amount of time, for example part of the raised capital of Flixxo that is destined to the team, is locked for 6 months. The aim of this type of vesting is to prevent the team of a startup to run away with the raised capital.
This week Icofunding will be announcing their next ICO, if you want to be the first to discover their upcoming Token Sale than join their Telegram channel (https://t.me/icofunding) or create an Icofunding account on their website
Media Contact
Company Name: ICO Funding
Contact Person: Carlos Kuchkovsky/+34630958449
Phone: +34630958449
Address: Anne-Lous van den Ende/+34 610 612 826
City: Madrid
Country: Spain
Website: www.icofunding.com
Source: ICO Platform That Creates a Safer ICO Ecosystem Through Governance – Finished its First ICO Raising Over $5,500,000
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