We're delighted by the opportunity to take part in the Steem Fest hackaton and demonstrate the fruits of our work for the last few days in this competition.
Before we get to the essence of our platform, let's start with the intro. Proliferation of ICO, a particularly powerful tool for enhancement of development of upstarts and existing businesses of all kinds, has become a topic du jour in recent years. Indeed, this phenomenon has grown so ubiquitous that its topicality seems to have overshadowed the one of traditional IPO. And that’s for a good reason – contrary to its counterpart in the world of fiat currency, ICO provides the opportunity of large-scale fundraising to a way more vast array of good projects and ideas which are to be carried out. No wonder more and more companies and ventures seek to find the best platform which would allow their ICOs to go as smoothly and flawlessly as possible. Recently, bounty campaign has become an integral part of any ICO due to one predominant reason – it always boosts the pace of promotion of an upcoming ICO to the utmost.
Our company, Phenom, specializes in providing technical support for ICO and recently we've managed to successfully transfer our ICO platfrom from Ethereum ecosystem to BitShares blockchainm, thanks to this we ultimately ended up with a fully-automated platform for ICO which sports two key features that make the platfrom stand out: firstly, it emits new tokens promptly after receival of investors' funds directly in BitShares blockchain, thus allowing investors to obtain their newly-issued ICO tokens right in their BitShares account; secondly, its integral bounty platform monitors bounty hunters' activity in designated social networks and automatically grants stakes to them - those stakes are then exchanged for ICO tokens in accordance with beforehand negotiated ratio.
So, why is it huge? Because the way the platform looks to both users and managers are constructed in such a way which enables all actors to reap maximum of what the campaign offers. For managers, it allows them to manually monitor users’ activity in social networks (likes, reblogs, posts, etc.); when it comes to Steem, the number of stakes received by a contributor depends on of his or her steem power, number of followers and activity on Steem blockchain; for users, their accounts also have very sharp, intuitive and easy-to-use look. And crucially, there’s not a single step - from the moment when campaign starts to the moment when all tokens are distributed - where manual interference is necessary.
While we were working on this platform, we remembered that Steemit has a large number of subscribers for whom our product could not only be interesting but also relevant, or even useful. We value Steemit for the fact that it has a lot of developers, traders, miners and enthusiasts gathered in one place, and they make up a perfect type of audience to share our project with. It all boiled down to us deciding to plug our platform in the Steem and Golos blockchain, and ultimately, distributing a share of tokens garnered during the ICO among the users of aforementioned systems. It also goes without doubt that our projects themselves will positively influence the whole ecosystem of Steem, for every user of our platform is going to discover Steem and Golos for themselves.
In the following part we’d like to demonstrate in step-by-step the way the whole process works. We'll start with Bounty platfrom:
First, you register in the bounty campaign with your e-mail.
After you’ve verified the e-mail and set your password, you’ve got your campaign page open, this is where you can link your social networks accounts with the campaign’s account.
Once you’ve linked an account, you can start doing whatever is necessary for receiving your stakes [of the tokens’ pool]. In this case I’ll follow the Phenom page on Steemit by sending any amount of Steam Power to the account with my unique memo.
So, as you can see, after I completed a very easy process of linking the Steem account, I can refresh the campaign page and enjoy my first stake in the project.
Then I’ll get more stakes whenever I like, share, comment or do anything required by the bounty campaign rules. It only takes a couple of seconds for the system to check my activity and respectively deploy a stake into my account.
Also, in order to receive my project tokens, I need to provide my BitShares wallet address where I’ll later be able to procure my tokens.
Feel free to log in into our test platfrom and send test tokens to a project and see how the transactions work.
The paramount advantage of direct emission of ICO tokens on BitShares exchange is that invesotors no longer need to wait for official listing to extract value from their tokens.
There’s one more big perk of using Steem and Golos which is the easiness of tackling the issue of spam and promotion-cheating. Here, since all the data is derived directly from the blockchain itself, and since there’s a complete transparency regarding all activity, we are able to regulate and control the number of stakes depending on users’ activity.
Overall, the experience of using the platform is very enjoyable because the site was designed to instill into users the feeling of neatness and make them see just how elaborate and mature every little detail in the campaign is.
Thanks for your time, dear Steemers. We’re keen on getting your feedback regarding any aspect of our platform and we also strongly recommend you to give it a try by checking what you’ve just read about and seeing the whole thing yourself.
Best regards, Phenom team!