Crypto currencies have become more and more entrenched in our lives, and projects have received a unique way of attracting funding, which was named Initial Coin Offering (ICO). A great idea worked well at first, but at some point the advantages of this type of fundraising for new projects were threatened. Too many mediocre projects through aggressive marketing began to raise a significant amount of funds. People began to lose money in large amounts, which led to disappointment in the idea as such.
Projects that raised millions and tens of millions of dollars were worth about zero on the exchanges. Most of them never realized their plans and then closed the development of projects.
The second wave of crowdfunding was Initial Exchange Offering (IEO), the equivalent of ICO where exchanges took over the fundraising function and guaranteed a listing for projects. This was quite convenient for token buyers — guaranteed listing and liquidity provided by exchanges allowed tokens to be sold immediately after distribution. But the problem did not go anywhere, it was still the same mediocre projects. Only now with a listing on the exchange. At one point, IEO turned into a sellers’ competition. Who would be the first to sell the tokens bought in the initial distribution.
We believe that there are ways to distribute tokens more fairly, in which the risk of people losing their money is reduced. The lockdrop coin offering (LCO) can be one of these initatives.
A lockdrop is a method of token allocation in which participants block funds (ETH) for a specific period of time — a week. After the lockdrop period is over, participants can unlock their funds and receive tokens of a new project in proportion to their share.
An event announcement with dates and rules for participation will be published shortly. Please sign up for updates to be informed.
http://thepay.cash — Stable coins payment network