THE FIRST STARTUP ON KickICO — QUASA
Kick Ecosystem relaunches the KickICO crypto crowdfunding platform which allows crypto startups to raise funds using the latest fundraising models.
First project — QUASA
Kick Ecosystem, which combines several cryptocurrency services at once, including KickEX exchange, KickToken, and KUSD stablecoin, relaunches the KickICO crypto crowdfunding platform. The platform’s functionality allows cryptocurrency startups to raise funds using the latest fundraising models.
CEO of Kick Ecosystem Anti Danilevski:
We have developed our unique model of crypto fundraising — AIO (Auction-based Initial Offering). This is a type of crypto fundraising based on fair pricing, know-how developed by the Kick ecosystem team. Unlike ICO, IEO, IDO, and other forms of fundraising, the price of the token offered for sale is not fixed but is formed by the users themselves during the auction. The greater the demand for a token, the higher its price, and vice versa.
Thus, the price of the token is formed by the market itself — users participating in the auction, taking into account the importance and relevance of the products offered by the company, and not the authors declaring the price of their token, which after entering the secondary market is collapsed by those who received early allocations with huge discounts.
The first startup on KickICO
The first startup to post their campaigns on KickICO platform was QUASA — a decentralized network that connects freelancers and clients.
Registered participants who have passed the KYC procedure can participate in the auction and purchase project tokens. USDT stable coin acts as a payment unit, and in the future, KUSD semi-stable token will be used.
Every project that wants to organize a campaign on the KickICO platform must pass the mandatory KYC/AML procedure, and provide several basic documents confirming the reality of both the authors themselves and the company. Companies that have not passed this procedure will not be allowed to launch a campaign on KickICO. This is done to avoid placing fraudulent projects and to maximize the protection of participants in token sales.
The start of sales of project tokens will begin on Monday, May 17.
To participate in an AIO project as a backer, you will need to perform the following steps:
1. Registration on the KickICO platform or on the KickEX cryptocurrency exchange
After registration, it is necessary to pass the verification of identity (KYC). Only users who have passed identity verification (KYC) are allowed to participate in token sales on the platform. The KYC procedure is simple and fast in 99% of cases, but it is recommended to complete it in advance if you plan to participate in the AIO.
2. How to apply for token purchase
Before proceeding, be sure to read the general terms and conditions of the AIO project and the token purchase agreement.
Study the existing bids of other users (if they are any) to understand the current pricing and winning price and be able to buy the desired number of tokens for sale.
Specify the number of tokens you want to purchase and the price of the token in USDT.
Confirm your bid and it will appear in the order book. Check out where your order is in relation to the orders of other users, and whether tokens will be bought for your bet under the current situation in the order book.
Control the situation — after you send your bid to the order book, others will appear in it, so you may be outstripped or moved by higher rates down so much that you may not be in the winning zone, and all tokens will be redeemed by participants who have offered a higher price.
3. AIO token sale procedure
The sale of tokens is carried out at the end of the trading day, immediately. The orders with the highest price are executed first. Bids with the lowest price are executed last.
If all the offered tokens of one trading day were redeemed by participants who offered a higher price, then other participants whose rates are lower will not get anything. In this case, unexecuted orders will be canceled and users’ funds will be returned to their wallets in the Kick Ecosystem.
Tokens that were not sold during the trading day are withdrawn from the sale and remain on the balance of the Ecosystem and can be further burnt or frozen.
Stay tuned for updates, exciting news ahead.