DAICO - an innovative fundraising model that combines some of the benefits of Decentralized Regional Autonomy

DAICO 

What is DAICO?

DAICO is an innovative fundraising model (recommended by Ethereal founder, Vitalik Buterin) that combines the benefits of Decentralized Autonomous Decentralized, which aims to improve and make the initial ICO concept more transparent and secure.

Abyss Token Sale is an advanced and better DAICO model that allows token holders to control the withdrawal limits, also provides an option to vote any remaining remnant money if the team fails to implement the project, with Oracles (the designated industry leader) acting as arbitrator. Read more here 

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Our main DAICO features are as follows:

 

The Abyss team defines the required funds limit (tap = wei / sec) to support the platform development process after the Token Sales is complete. This means the maximum amount we can receive from the Smart Contract for a certain period of time (eg per month);

If we need to increase the tap size (or we need an additional amount for the project purpose - overhead buffer), the poll will start. Token holders with tokens in their Ethereum purse (≥N, where N ≠ 0) will choose / to give us this extra money. To prevent system abuse,% where tap can be increased at one time, limited, also faucet can not be increased more frequently than once in 14 days; Polls are deemed fulfilled, if a particular quorum (ie 10% of total token inventory) is achieved: ≥10% of Total Tokens Supply:

Only Team Abyss has the right to poll buffer up / down and only the project token holder will be granted the option. Ascertained by Smart Contract, the Company token and Backup will not be eligible to participate. We will take advantage of the stock-proof algorithm during the poll, but to make it impossible for the exchanges to take part, the weight of each Ethereum of this sound-wallet will be limited by a number of tokens (ie≤ 0.1% of TotalTokensSupply);

The number of tokens required to participate in a poll is calculated in this way:

To eliminate cheating during the voting process (when the token is transferred from one voter to another), once the transaction is completed, we will re-rate the vote according to the new balance;

The token holder will be notified of the time and date of the new poll. No sound received after poll closed (VoteStartTime ≤ block.timestamp ≤ VoteEndTime). The voting result (YesVoteTokens> NoVoteTokens, or vice versa) will be visible to all participants;

Prior to the commencement of Token Sale (DAICO), we will introduce arbitrator teams, or Oracles, - designated industry professionals, with an established reputation in the relevant field, who have the exclusive right to hold a voting for a refund, leading to the remaining funds refunded to the token holder;

In the case of Team Abyss showing unsatisfactory performance , so the decision on refunds, Smart Contract switches to withdrawal mode, at the same time blocking or burning team tokens and Backup;

If a decision on a refund is made, the remaining funds are returned to the token holder at a rate calculated by the formula:

We are convinced that DAICO is a good choice that will make ICOpalsu almost impossible. However, this is a new mechanism, and there must be a way to further strengthen it while maintaining flexibility, transparency and security. Oracles and exclusive voting rules will do the job efficiently and reliably. We are still thinking of further improvements and are open to discussion.

Currently we are developing a new Smart Contract  , with a view to presenting it publicly before the commencement of Token Sale (DAICO). The Smart Contracts will be audited by a leading independent agency ( New Alchemy among them).

To discuss topics or offer ideas, please refer to our Telegram channel: https://t.me/theabyss

You may also submit your questions and suggestions, regarding DAICO, or even apply to be Oracle, via: daico@theabyss.com

And one more thing ...

Of course, modifying Token Sale and Ethereal's drastic growth has triggered another important change, we must also make you aware:

We are now canceling Pre-Sale and will make major sales only, starting on March 7, 2018 (09:00 UTC), ending on April 7, 2018 (09:00 UTC);

Due to the appearance of the Ethereum value, the ABYSS level mark has changed to 1 ABYSS = 0.24 USD;

To implement the DAICO idea, our Smart Contracts must rely on Ethics entirely. For this reason during Token Sale we will only accept ETH;

During Token Sale bonus tokens (DAICO) will be obtained as follows: First 48HR (25%), Days 3-7 (15%), Days 8-14 (10%), Day 15-21 (5%);

Aiming to expand Abyss audience, we introduce maximum contribution, which is 10 ETH.

Also we changed the rules of our multilevel reference program. New rules are available on our dedicated referral program page .

Join the world's first DAICO and become part of the history of crypto industry!

Team Abyss:

Some Resources For Reference:

WEBSITE: https://www.theabyss.com/

WHITEPAPER : https://www.theabyss.com/static/docs/theabyss-whitepaper-en.pdf

FACEBOOK: https://facebook.com/theabyss

TWITTER : https://twitter.com/theabyss

USERNAME PROFIL BTT : siska55

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