I welcome you all once again to this Wonderful CRYPTOCURRENCY NETWORK BLOG, as usual ! all of you know’s, I always carry you along with any information about good crypto related projects through my blog.
An initial coin offering (ICO) or initial currency offering is a type of crowdfunding using cryptocurrencies. In an ICO, a quantity of cryptocurrency is sold in the form of “tokens” (“coins”) to speculators or investors, in exchange for legal tender or other cryptocurrencies such as bitcoin or ethereum. The tokens sold are promoted as future functional units of currency if or when the ICO’s funding goal is met and the project launches.
An ICO can be a source of capital for startup companies. ICOs allow startups to avoid regulatory compliance and intermediaries such as venture capitalists, banks and stock exchanges. ICOs may fall outside existing regulations, depending on the nature of the project, or be banned altogether in some jurisdictions, such as China and South Korea.
ICOs have been prone to scams and securities law violations. Fewer than half of all ICOs survive four months after the offering, while almost half of ICOs sold in 2017 failed by February 2018. Despite their record of failure and the falling prices of cryptocurrencies, a record $7 billion was raised via ICO from January-June 2081
The first token sale (also known as an ICO) was held by Mastercoin in July 2013. Ethereum raised money with a token sale in 2014, raising 3,700 BTC in its first 12 hours, equal to approximately $2.3 million at the time. An ICO was held by Karmacoin in April 2014 for its Karmashares project.
ICOs and token sales became popular in 2017. There were at least 18 websites tracking ICOs before mid-year. In May, the ICO for a new web browser called Brave generated about $35 million in under 30 seconds. Messaging app developer Kik’s September 2017 ICO raised nearly $100 million. At the start of October 2017, ICO coin sales worth $2.3 billion had been conducted during the year, more than ten times as much as in all of 2016. As of November 2017, there were around 50 offerings a month, with the highest-grossing ICO as of January 2018, being Filecoin raising $257 million (and $200 million of that within the first hour of their token sale).
Kik had previously issued $50 million in tokens called “Kin” to institutional investors, and sought to raise an additional $125 million from the public. In connection with this ICO, an unidentified third party executed a phishing scam by circulating a fake URL for the offering through social media.
By the end of 2017, ICOs had raised almost 40 times as much capital as they had raised in 2016, although still amounting to less than two percent of the capital raised by IPOs. According to industry newsletter Cointelegraph, companies raised around $6 billion via ICOs in 2017; 37% of that amount was made by only 20 ICOs. Already by February, 2018, an estimated 46% of the 2017 ICOs had failed.
ICOs are sometimes called “token sales”. Amy Wan, a crowdfunding and syndication lawyer, described the coin in an ICO as “a symbol of ownership interest in an enterprise — a digital stock certificate” stating that they are likely subject to regulation as securities in the U.S. under the Howey test.
Ethereum is (as of February 2018) the leading blockchain platform for ICOs with more than 80% market share. Tokens are generally based on the Ethereum ERC-20 standard. According to Cointelegraph the Ethereum network ICOs have resulted in considerable phishing, Ponzi schemes, and other scams, accounting for about 10% of ICOs.
On January 30, 2018, Facebook banned advertisements for ICOs as well as for cryptocurrencies and binary options. By April 9, 2018, ICO advertising has been banned not only by Facebook, but by Twitter, Google, and MailChimp.
In reference with the motion of this article, Today! I will be presenting you a particular undisputed project called:SCAVO
What is SCAVO?
As said earlier, SCAVO Technologies is a company established in Argentina specialized in the construction of telecommunications data center infrastructure for crypto mining, using renewable resources. Formally founded on August 1, 2017 as a result of 2 years of research and development of proprietary technology that together allow the energy self-sustainability of the entire crypto mining complex.
Through the Initial Coin Offering (ICO), SCAVO will build the large-scale crypto mining farm of bitcoin and altcoins, in a self-sustaining manner and put it into production according to the deadlines stipulated in the roadmap.
Furthermore, SCAVO’s technology is based on commercial model SCAVO Token. Each Token SCAVO was acquired by investors will represent the right to receive benefits from all that is produced by agriculture mining for life (as long as it is the holder of a Token), understood as a period in which the benefits exceed the costs the operations required to maintain in the farming operation. Technology developed by technology SCAVO and third parties will be used to build standalone and scalable mining center that uses renewable resources for power generation. SCAVO technology will finance the construction of the entire system that forms the center of mining through crowdfunding by distributing token SCAVO, during the early coins offer (ICO).
Thе рurроѕе of SCAVO iѕ thе construction of large-scale mining fаrmѕ. Tо dо thiѕ, they idеntifiеd thе mаin сhаllеngеѕ fасеd bу аnу lаrgе-ѕсаlе сrурtо-mining еntеrрriѕе аnd dеvеlореd a ѕоlutiоn mоdеl based оn the “Induѕtrу 4.0” concept.
Thе SCAVO аррrоасh rеѕultѕ in a mоdulаr ѕоlutiоn, whiсh mаkеѕ it еаѕilу ѕсаlаblе. It рrоduсеѕ itѕ оwn еlесtriсitу using rеnеwаblе energy ѕоurсеѕ, bесоming ѕеlf-ѕuѕtаinаblе аnd environmentally friеndlу.
All this gоеѕ tо thе рrоfitаbilitу оf the project, guaranteeing реriоdiсаl payments tо invеѕtоrѕ in a соmрlеtеlу trаnѕраrеnt аnd automatic mаnnеr bу means оf smart-contracts.
At SCAVO Technologies they have three simple principles they always follow. They are:
The work must be done as a team.
The implementation of the solution must be easy to understand and
the solutions must be accessible by the general public.
Using these three principles as a guide, we believe that even with the increasing difficulty of mining in general, regardless of the crypto currency to be mined, we can develop a profitable investment program for the market through the creation of mutually beneficial projects that are accessible to the general public, easy to understand and based on cutting-edge technology.
THE GOALS – BUILDING A LONG-TERM STRATEGIC RELATIONSHIP
At SCAVO Technologies, they firmly believe that investments in crypto sustainable mining are the most profitable option for long-term profits and that is why our proposal is to strengthen the link with investors through clear rules.
SCAVO Technologies, besides of providing an intelligent solution to the problem of the generation and consumption of energy of the crypto mining farm, by reducing the cost of energy to its maximum expression, they make participation in the business more accessible and easier for anyone worldwide, regardless of their knowledge and wealth.
Their commitment to the SCAVO Community is such that it allows active participation in making important decisions that may affect the company, through the use of smart contract voting.
To reach the objectives proposed in our development, it was imperative to work on the concept of “Industry 4.0”; this is to achieve the highest degree of efficiency and automation of the possible processes for decision making. The guidelines that guide our proposal contemplate access to clean energy and at a very low cost, the use of industrial grade components for the manufacture and assembly of the different units that make up the crypto mining complex, energy efficiency and the necessary robustness to carry out the crypto mining process in the long term.
This has allowed us to offer an intelligent solution to the problem of access to energy at competitive costs and thus contribute to the principle of decentralization as well as ease access to the use of technology to the general public.
The Technology behind Scavo
They understand that innovation throughout the current system is something indispensable, necessary and imperative for crypto currencies and their technology to be accepted in a massive way. Due to this, it was necessary to align the development of the different parts that make up the crypto mining complex to the concept of “Industry 4.0”.
At SCAVO Technologies they have developed different software/hardware components that automate several processes of the crypto mining complex. These components provide essential information in real time to the company’s computing center for decision making, while these processes are fed back with their own and external information that will optimize and help predict certain behavior in the future more accurately.
All this could be achieved using complex technological processes and industrial grade technology.
How it works?
Their project aims at the construction and management of large-scale self-sustaining crypto-mining farms. The funds raised during the ICO will be mainly allocated to the construction of the mining farms and their power plants to fully supply their energy consumption. Once energy independence has been achieved, the income generated by the mining farms will cover all maintenance costs and regularly generate additional income.
Why Scavo Stands Out?
Scavo’s approach to the problem is modular, which results in a highly scalable solution, where energy (electricity) is produced from renewable sources, making the process sustainable and environmentally friendly. Scavo guarantees weekly payouts to users in a completely secure and automatic manner through the use of smart contracts which are based on the blockchain platform.
Token Sale and ICO Details
SCAVO is a token based on the Ethereum ERC-20 standard. The SCAVO Token will be entirely backed by the mining hardware as well as by other equipment that is part of the renewable energy generation plant that will exist in a real physical place generating crypto assets 24×7. It is an ERC-20 token, the de facto standard of today′s tokens.
Tokens will be offered for a period of up to 108 days, starting on July 15, 2018 and ending on October 31, 2018.
SCAVO ICO will be conducted by SCAVO Technologies. This offer will become a public opento and restrictions will only apply to residents in countries where they must meet certain requirements to be selected as investors.
Number of Issuance of Tokens – 200,000,000. Maximum. (Tokens not donated, will not be generated).
Value Token at issue – $1
Accepted forms of payment – Bitcoin, Ethereum, Litecoin, Monero, Bitcoin-Cash, Dash, Ethereum Classic, ZCash, Decred, Bank transfer, credit cards.
Minimum investment amount – $ 25 (or equivalent in cryptocurrency)
Start ICO on – July, 2018 – 00:00:00
ICO is completed on – 31 October 2018 – 23:59:59
ICO time zone – GMT – 03: 00 (Argentina, Buenos Aires)
Token issuance date – November 1, 2018
Minimum Target – $ 500,000
Medium Target – $ 3,500,000
Maximum Target of $ 83,600,000
The SCAVO token guarantees the holder the right to:
1 – Receive 100% of the profits from our mining operations through the following scheme.
A. 80% of what is generated by mining operations will be paid immediately.
B. 20% of what is produced by mining operations will be reinvested to increase future payments through renewal and changes in mining equipment that is more efficient and achieves self-help from mining.
2 – Receive 30% of profits for services to third parties provided by SCAVO Technologies.
3 – The right to vote in important company decisions.
ICO STAGE DETAILS
180,000,000 SCAVO WILL BE DISTRIBUTED TO TOKEN HOLDERS
50% BONUS 1 SCAVO = USD 0.50 FROM 07-15-2018 UNTIL 07-20-2018 6 DAYS
30% BONUS 1 SCAVO = USD 0.60 FROM 07-21-2018 FOR 07-31-2018 11 DAYS
25% BONUS 1 SCAVO = USD 0.70 FROM 08-01-2018 UNTIL 08-10-2018 10 DAYS
20% BONUS 1 SCAVO = USD 0.75 FROM 11-11-2018 UNTIL 08-20-2018 10 DAYS
15% BONUS 1 SCAVO = USD 0.80 FROM 08-21-2018 UNTIL 08-31-2018 11 DAYS
10% BONUS 1 SCAVO = USD 0.85 FROM 01-01-2018 UNTIL 09-15-2018 15 DAYS
5% BONUS 1 SCAVO = USD 0.90 FROM 09-16-2018 UNTIL 09-30-2018 15 DAYS
0% BONUS 1 SCAVO = USD 1.00 FROM 01-10-2018 TO 10-31-2018 31 DAYS
88% for Token holders
8% for the General Reserve Fund
2% for prize and incentive programs
2% for founders and teams
Use of Results
92% – hardware and electricity generation
8% – Administration, R & D, and Investment
Guillermo Nardoni – CEO & Founder
Hernán Bucciarelli – CFO & Founder
Matías Nardoni – COO & Founder
Liliana Pizarro – Supervisor
Franco Ledesma – Technician
Enrique Bucciarelli – Logistics
Aldo Somoza – Chief Officer of the Cooling System and Renewable Energy Resources
Miguel Araya – CTO
Alfredo Carlstein – Advisor
For more information, please visit:
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1925101
DISCLAIMER:This post was brought to you by Opeyemi being my personal project on Scavo campaign project