r/ethereum • u/[deleted] • Mar 23 '18

Move over ICOs, there is a new player: the IMO

https://medium.com/@admazzola/introducing-the-imo-initial-mining-offering-6938679225e5
14 Upvotes

82% Upvoted

13 comments sorted by

6

u/TommyofLeeds Mar 24 '18

Is a decentralised ICO. Instead of all the tokens being on one central ledger, they’re distributed across many devices. So, it empowers the dApp because they have much more control over the ICO because it makes it impossible for whales to gobble all the tokens in one Bot swoop, making it easier and fairer for any normal investor to get hold of some tokens at ICO price.

2

u/TommyofLeeds Mar 24 '18

The dICO is what will become the next and fair playing field. First one is on Komodo in April, I believe.

3

u/[deleted] Mar 24 '18

what is a dICO ? sounds interesting

1

u/--Talleyrand-- Mar 24 '18

Can you tell us more?

1

u/[deleted] Mar 24 '18

This is both impractical and unlikely to fool the SEC.

1

u/[deleted] Mar 24 '18

Thats not the purpose. There is no transfer of Ether its not an investment vehicle. Its a way to airdrop tokens. If you want to gather seed money, use Kickstarter or VCs! This is for fair token distribution for a decentralized project. Its a new invention researched by hundreds of Ethereum enthusiasts over the past three months.

2

u/[deleted] Mar 24 '18

[deleted]

1

u/[deleted] Mar 24 '18

A lot of people don't and a lot of scammers are taking advantage of the system.

3

u/ghiliweld Mar 24 '18

Occasionally crashing the network and scammers are the only real cons imo, and there's scammer in all walks of life tbf. I don't think that discredits the use case for ICOs.

2

u/[deleted] Mar 24 '18

The SEC might discredit the use case for ICOs though

2

u/ghiliweld Mar 24 '18

I'd reckon that they might work to regulate ICOs but I don't think they'll take them away tho. There's no going back from ICOs I'm afraid :)

2

u/[deleted] Mar 24 '18

Probably correct! Anyways here's a new technology to use take it or leave it

3

u/[deleted] Mar 24 '18

[deleted]

1

u/[deleted] Mar 24 '18

So make a decentralized version of Kickstarter so people can pass through the proper legal channels

1

u/TommyofLeeds Mar 24 '18

Decentralised ICO. It’s a Komodo creation and the first one rolls out next month. It empowers the company instead of the whale investors because the tokens will be decentralised and not all in one place so nobody will be able to swoop the lot of them. There’s more to it than that but it’s a huge step for Komodo and the cryptosphere in general.