CAO: A Decentralized Community Autonomous Token Offering Model
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Much of ICO scams have been affirmed by crypto investors because every ICO team has unlimited power to manage all money and resources even that’s off record. GDOC Foundation has created a more decentralized Token offering model which called CAO: Community Autonomous Offering. An entire CAO model includes two phases as below:
1.All rules and processes of Token offering should be coded in Smart Contract which deployed on Ethereum network.
2.All fundraising money should be managed by Smart Contract but not some unlimited person or organization to protect all investors’ security and earnings.
For these two graduation, GDOC have created a standard reference model which can support most of blockchain project’s Token sale as well as protecting investors’ rights and money to avoid stealing by unconstrained and swindling scammer, although these guys look like normal startup team commonly.
Firstly, we will start a Token sale process as bellowing:
1) GDOC Foundation will hold four rounds of Token sale. The first round called Genesis aims to find initial community members so that it will be an autonomous decision-making organization to next rounds of Token sale.
2) Then current Token holders have voting right to decide the price and quantity of next round. That means the early buying, the more advantage to earn much. All rounds of Token sale will be coded in Smart Contract which deployed on Ethereum.
3) Besides, the vote procedure will be implemented by Smart Contract to make sure that the voting right will be granted to every GDOT holders.
So all process of Token sale is controlled by community members or investors which means decentralized and fair to every participant.
After phase1, GDOC will start the second phase which called DAICO mechanism that came from Ethereum created by Vitalic Buterin.
DAICO mechanism makes sure that all funding from Token sale should be managed by Smart Contract so that no one can take or steal the money. The founding team only can use the funding money by releasing it monthly which is coded in Smart Contract in advance to public.
Not only the releasing function, DAICO also can supply funding return function which is implemented by Smart Contract at any of the progressing time.
That means CAO is a more decentralized and security Token offering model to all investors and community members which will reduce scam and theft so that all investors can be protected by rules coded on Ethereum network irrevocably.
GDOC Foundation determines to be the FIRST CAO case in the world to change the current unfair and bad practicing of Token offering.
Any comments welcomed and rewarded by 10K GDOT Token by sending the screen shot of post to
team@gdoc.tech. But do not forget your ERC20 Wallet.
For more information, please go to official website and Telegram:
www.gdoc.tech
https://t.me/GDOCOfficial
