DEScrow – the first-ever decentralized escrow-platform for carrying out ICO – has successfully closed pre-sale of DEST tokens – custom cryptocurrency of the project. Almost 1000 ETH have been collected at the initial stage of the fundraising campaign.
The DES platform with the inbuilt mechanism of the decentralized escrow gives investors an opportunity to control further financing of a startup after the ICO closure, being guided by the project’s progress at the previous stage of the roadmap implementation.
The decision on the further financing of a certain campaign will be made by the investors’ majority vote. This procedure will allow to eliminate the scam-projects, which aren’t intended to develop a finished product and bring to light those, that are ready to follow their roadmap and complete their mission.
DES is beneficial for startups too as it will give them an opportunity to collect larger funds during ICO, due to greater loyalty and confidence from the side of the investors.
The DEScrow project is now preparing for the next public stage of fund raising. In the course of ICO campaign that will be launched in November DES is planning to raise $12 million for further development of the platform.
I just published “Pre-ICO is successfully closed!” https://t.co/fY3VmvCXhU
— Descrow (@Descrow3) October 1, 2017
With the help of this money DES will also establish an insurance fund for the investments of the first tranche. The first tranche of investments in stage-by-stage financing model is most vulnerable to the risk of the theft from the part of unscrupulous projects. In case the startup’s team flees away with the funds after the first transaction, the investors’ losses will be covered with the money of the insurance fund.
For more information read DEScrow White Paper here