IOV ICO Review

Idea
Universal Protocol for blockchain and wallet users. Imagine being able to send, receive, exchange, create any token from any blockchain.
The way it works is they have these two things called BNS & BCP. So, BNS stands for block chain Name Service, it’s the DNS of Block chain just like the DNS gives you the IP address of the domain, BNS gives you the IP address of the blockchain the tokens belong to. BCP is the communication protocol. So, with these two technologies, IOV becomes the first wallet where I’m able to send receive and exchange any crypto with one singular address.
Imagine that. I could send Ethereum, Bitcoin or ZRX all to one universal address and this allows block chains to be interoperable. Meaning that you can exchange tokens without the need of an exchange. To me ,this is the future of cryptocurrency , complete decentralization.
Prototype
Yes, they do have a prototype, the beta version is out and their final product comes out at Q4 of 2018.
Team
So, let’s look at their team. One of the things about their team is they have a very small team only six people.  Three of them really stand out , One of them being Isabella Dell, she’s the co-founder and is a former chief architect at Lisk
Second person is Benjamin; he’s an Executive Director at J.P. Morgan
Third guy is Serge, Serge is an entrepreneur. I noticed that he’s a founder and C.E.O. of multiple companies. One of the things about the team that I was sad about is they have no advisors right.
Community
Looking at their community, the community is very small only 4,900 people on their Telegram but it’s still on pre-sale stage, meaing it’s just starting, there’s not a lot of hype around it.
Token Metrics
Hard cap is 25million euros (~30 million usd).
I like how they have their token metrics set up where 65% of their tokens are for the participants of the token sale, 12% goes to security reserve, 20% for the team and 3% for bounties.
They have a 2 round pre-sale and public sale. They way it works is the pre-sale gets each token at $0.08 and they raise a $5 million, pre-sale at round 2 is at $0.09 and they’re trying to raise for $12.5 million and the public sales is at $0.10 for the rest of the hard cap.
Positives:
Interoperability is the future of crypto, reason being is the fact that I can have one singular address like an email address where you can send me all my tokens, where I can receive all my tokens or I can even create tokens and it’s all simple and concise, that creates a seamless experience for the average person.
Second thing is their prototype is out.
The full product will be released this year and they have solid token metrics.
Negatives:
My concern with this ICO is that they have a very small team and they have no advisors.
Write a comment