Hackernoon logoBancor becomes KICKICO’s strategic partner, while KickCoin becomes a Smart-token. by@kickico

Bancor becomes KICKICO’s strategic partner, while KickCoin becomes a Smart-token.

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With KICKICO we focus on small and medium-size projects with a bright idea and a commited team behind. We offer them fully packed solutions for fundraising, including the Initial token offering, run on KICKICO platform. However we realize that the majority of these tokens will not have enough capitalization to be listed and traded on crypto-exchanges and, therefore, they cannot be liquid.

Here comes the solution: integration of Bancor protocol to the tokens’ smart contracts, so that all the fundraisers сould be able to make their tokens really “Smart” by all means.

Bancor protocol is a standard, developed by Bancor, which deals with the problem of long-tail effect for small and medium size currencies, implying that for a token with a relatively small capitalization it is quite complicated to find a proper match. By joining the Bancor network and making a certain reserve for a token, it is possible to make the token “smart”, so that it could be readily exchanged to any of ERC-20 tokens.

This solution will allow to make any token liquid and to support the value of KickCoin, since it will become a Network token for the platform (by default all projects’ reserves will be in KickCoins and BNT will become the Reserve currency for KickCoin). Moreover, it will give backers an opportunity to sell their tokens any time they want — if the value of a project (and a token) increases, a backer can sell it and get profit respectively. If a project fails, a backer will still be able to sell it for a lower rate at least.

The first crypto-currency within KICKICO platform that will integrate Bancor protocol and become a “smart token” is KickCoin. The initial CRR for the KickCoin will be 5% of funds raised during it’s own ICO in BNTs.

Eyal Hertzog will become the Token Models Advisor with the strategic role of advising on Token model for the projects raising funds on KICKICO.


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