Summary

• UAICO is a new ICO model that allows additional issuances of a currency.
  
• Since all invested funds are used as the underlying asset, any additional issuance of a currency is less likely to cause the price to fall. (It may even cause the price to increase)
  

After the ICO, the price of a newly issued cryptocurrency is determined by the market. The invested capital will gradually be consumed, and ICO businesses use the invested funds to pursue technical development and generate revenue.

Many ICO investors tend to seek out for cryptocurrencies with high usability and high probability of getting listed on the top exchanges so that they can maximize capital gain. Naturally, they prefer to avoid an increase in the total supply of a currency from additional issuance because it most often leads to a sharp decline in the overall price.

UAICO safely stores all the invested funds within the smart contract and utilizes them as the underlying asset of a newly issued cryptocurrency. This model allows companies to start out with a relatively smaller budget and carry out additional issuance as the business grow bigger.

Compared to the current ICO models, UAICO is less likely to experience a steep decrease in the price (after its supply has increased) because the underlying asset of the currency will increases as much as the inflow of the invested funds. In addition, depending on the conditions of the additional issuance, the incumbent investors may be able to gain further profit.

The table below is an example of UAICO, carrying out multiple issuances of a cryptocurrency.

Table 1: https://docs.google.com/spreadsheets/d/1HoIUNR-K55de0KaysTnZiMjszJtl_qU0C0AXG58jlQc/edit#gid=0


HarborToken(UAICO) Additional Issuance Scenarios Examples
Additional issuance has a direct impact on the price of a currency. While UAICO can control and manage most parts of the currency, it cannot guarantee a full control. However, depending on certain conditions, as demonstrated on table 1, incumbent investors are capable of increasing their capital gain by increasing the underlying assets.

UAICO aims to reduce profit gained from an issuance and focus more on a gradual but consistent growth of a currency. This model returns the profit gained from an increase in the supply and maintain its stability by increasing the underlying asset. In the long term, investors can anticipate an increase in the overall value as well as some dominance in the competitive crypto-market.



[Information about Harbor & UAICO]

brief description
https://medium.com/@junghan.kim/harbor-brief-description-e1ab7c0018a3

Site
https://www.toharbor.com

UAICO online meetup:
https://meetup.toharbor.com

Our Prototype
https://medium.com/@junghan.kim/harbor-platform-prototype-296ea429d513

History of underlying asset currency and UAICO
https://medium.com/@junghan.kim/new-ico-model-for-business-uaico-underlying-asset-initial-coin-offering-435c59c2c1d2

A New ICO model for Businesses — UAICO (Underlying Asset ICO)
https://medium.com/@junghan.kim/a-new-ico-model-for-businesses-uaico-underlying-asset-ico-25e9a4c478ee

The Value of a Cryptocurrency and Additional Issuance
https://medium.com/@junghan.kim/the-value-of-a-cryptocurrency-and-additional-issuance-bbc1d4350c1e

Underlying Asset as a Momentum for Stability and Steady Increase in Price
https://medium.com/@junghan.kim/underlying-asset-as-a-momentum-for-stability-and-steady-increase-in-price-b3f52b05ac40

A new consensus protocol in creating a decentralized and democratic market–Underlying Asset ICO Veto System
https://medium.com/@junghan.kim/a-new-consensus-protocol-in-creating-a-decentralized-and-democratic-market-underlying-asset-ico-cfc67a424db4

Summary
We believe UAICO can provide solutions to the many problems that ICOs face today.

Limitations of current ICOs

- Early stage projects are overfunded, and there are no possible ways of verifying the legitimacies of various projects.

- Generating revenues from getting listed on exchanges rather than from the actual business model ultimately creates a bubble that can harm the overall crypto-market.

- Businesses can fail at any time. But when those with their own cryptocurrency fail, the entire currency collapses and cause various damages.

Strengths of UAICO

- Because the majority of funds are safely stored within the smart contract, currency remains stable even when a business fails.

- Funds become the underlying assets of a currency and therefore reduce the risk of price fluctuation when supply increases from additional ICOs.

- Businesses can start small, gradually prove their worth, and provide additional issuance of their currency later on.

With the basis of its underlying asset, UAICO is more likely to have its price increase compared to that of the incumbent cryptocurrencies. Investors can also expect consistent growth in the price along with the growth of the crypto market.



Harbor team, a group of Korean developers who are working on creating a decentralized software market, proposed a new ICO model–UAICO (Underlying Asset ICO).

UAICO safely stores all the invested funds within the smart contract and utilizes them as the underlying asset of a newly issued cryptocurrency.

ICO had attracted numerous founders of small startups because it allowed them to raise tremendous amounts of funds only with a single whitepaper. Recently, however, there have been overwhelming numbers of ICO projects, and they have brought to light some crucial limitations of the current model.

1. Early stage projects (in their ideation stage) are overfunded, and there are no possible ways of legitimately verifying the ICO projects before one can invest on them.

In most cases, businesses usually start small with small amount of funds. They get invested as they gradually demonstrate their growth and prove their worth to the investors. ICO business, on the other hand, set their fundraising goals a lot higher to begin with. This is due to the fact that they require much more budget to get listed on exchanges and maintain price stability.

However, with the ICO booms came the ICO scammers, going for the funds of the naïve investors.

2. Generating revenues from getting listed on exchanges rather than from the actual business model ultimately creates a bubble that can harm the market.

Cryptocurrency is a digital log of transactions that creates value by building a network of anonymous trust. If a company succeeds in listing its currency on an exchange before it develops the core technical aspects or its business model, bubbles will begin to form. If the company fails to create any worth or value from their business, the network of trust eventually is shattered and many investors are leftempty-handed.

Vast majority of investors generally aim for the high volatility and fluctuation in theprice value of a currency in order to earn big profit. In the short term, ICO businesses and investors may benefit from the fast paced crypto-market, but in the long term, such behavior will result in more bubbles that will damage the economy.

3. Businesses can fail at any time. But when those with their own cryptocurrency fail, the entire currency collapses and cause various damages.

ICO was first created as a solution for startups that had pioneer technical values without solid revenue models. However, as ICO gained attention, it simply became a method for simple fundraising projects. Any company can succeed or fail. Even a great company with a great business model can fail to generate revenue and be eliminated from a competitive market. However, while a normal business failurecauses most harm to the business itself, a collapse in a cryptocurrency can affect everyone with the currency.

Hence, there must be an ICO model that focuses more on maximizing protection to the investors and minimizing the consequences of business failures.

We are thrilled to propose UAICO (Underlying Asset ICO) as a possible solution to the many problems stated above.

What the UAICO model can offer:

1. Any investor can refund his or her share with the stored funds within the smart contract. A newly issued currency is able to create value from the underlying asset, maintain price stability and minimize investment risks.

2. Compared to previous ICOs, UAICO businesses receive noticeably less profit and budget. Meanwhile, investors can anticipate more capital gain, due to its higher price stability by the continuous influx of underlying assets stemming from its additional ICO events.

3. UAICO is a great fundraising model for a business with a solid revenue model. It is a model that supports small companies that gradually demonstrate their growth and prove their worth. We believe this model can help alleviate the currently overheated crypto-market.

In conclusion, UAICO is a new cryptocurrency issuance model with plenty of technical and economical values. Among the many new ICO models proposed, we firmly believe that UAICO can help create a more price-stable and investor-friendly cryptocurrency market in the long term.

Project Site: https://www.toharbor.com

Online meetup: https://meetup.toharbor.com

Colormate

made by Harbor Team

• Win64Bit (32bit is not supported)
• Do not use your in-app wallet for anything other than testing.
• Recommend (Windows Display Setting -> Scale and layout 100%)
• Available only on ropsten test net.

ColorMate is a program that finds an appropriate color set for a given color. This is a program provided for testing and verification of Harbor platform, but it is not only a project for testing but also a project for independent improvement.
it's simple app for find color pattern






It has limited functionality as a client program and can be tuned off through purchase. In-App support for Wallet account creation, purchasing, certificate issuance and verification, and product integrity verification.

"Harbor Platform is anyone can make software marketplace
It only need smart contracts and Harbor SDKs}



you can make new wallet address


You can request free ether for testing


You can purchase a license and verify your license key and you can check this on public ropsten test network


Ether prices are periodically updated with market prices.(using Global price Contract)
Refunds are available within a limited time and If you have a purchase history, you can issue additional, but there are limits to the number of licensed users
This product is not a commercial product and is designed for functional verification and testing.

site: https://www.toharbor.com/
download: https://github.com/harborPlatform/HarborPlatformContractDemo
harborplatform infomation:
https://meetup.toharbor.com/platform.html

Thank you for your feedback.
We have added summary and images.

I am writing a series for about UAICO.
UAICO is too harsh for currency issuers, but I think this model has a lot of potential and will lead the cryptocurrency market in a positive direction.

UAICO has many interesting topics. I would appreciate your interest in the future.

Hello this is Jung-Han, kim of Harbor team

Summary

• In currency, underlying assets have a long history.
• UAICO locked on all invested assets in smart contracts and allocates newly issued currencies to investors(70%), development funds(20%), and founder share(10%).
• Investor can withdraw the new currency at any time and receive the original currency back.
• UAICO is a model focused on investor protection and currency value stability.

We have developed a new ICO model, UAICO, and introduce it.

Gold has often been used as a currency throughout history. Its scarce and limited resources made it not only a fine monetary system but also an asset of real value. Many countries slowly began to adopt the gold standard in an effort to secure their national currencies and maintain economic stability. As a result, gold eventually became fully recognized and accepted around the world.
 
Vast majority of currencies prior to the First World War was based on the gold standard. The British Pound, for example, was the reserve currency, and it was widely used in international trades and foreign exchange.



After the Second World War and under the Bretton Woods Agreement, the U.S. Dollar became the next reserve currency linked to the price of gold, in an attempt to rebuild a stable and healthy economy.
 
However, on August 15th 1971, due to the overvaluation of the U.S. Dollar, the agreement dissolved and the gold standard ultimately ended.
 
Few decades later, Bitcoin, the world’s first cryptocurrency, was created by Satoshi Nakamoto in an attempt to remove any possible corruption in issuing or exchanging currencies by central banks after witnessing the 2008 financial crisis.
 
Although many had been skeptical about the concept of cryptocurrency in its very early stages, after various technological advancements and discovery of its potential applications, the world began to embrace the idea of Bitcoin and Ethereum.
 
But it seems there are too many cryptocurrencies being issued through countless ICOs, where most of them proves to be rather unstable. Furthermore, ICO projects without pioneer technical values and/or innovative business models only end up disappointing their investors and are inimical to the overall cryptocurrency market.
 
Simply put, ICO models nowadays are setting fundraising goals that are just too high and offering business models that are just too risky, in order to create cryptocurrencies that are just too unstable.
 
Hence, Harbor Team proposes UAICO (Underlying Asset Initial Coin Offering) as the new ICO model.
 
Similar to the gold standard, the UAICO model works by storing all the invested funds in smart contracts to create the value of underlying assets of the newly issued cryptocurrency.
 
This allows investors to withdraw the newly issued cryptocurrency at any time to refund a fixed portion of their initial investment, thereby maintaining the minimum value of the new cryptocurrency.
 
As a new ICO model, UAICO holds many technical and economic potentials. It is a model that focuses on protecting the investors and maintaining stability of the currency. In the long term, we believe it will help create a much healthier cryptocurrency market in the near future.
 
If you have any opinions or ideas about UAICO, please share with us.
For more information, please refer to the link below.

Online meetup:  https://meetup.toharbor.com
Project Site: https://www.toharbor.com
facebook: https://www.facebook.com/HarborToken/