IDO Reimagined: Leveling the Playing Field
Many of our team members and our community remember the first IDO that they have ever participated in. Perhaps it asked for a chunk of capital up front for tier staking, or perhaps it required nail-biting anticipation as the lottery result was being announced. Either way, the IDO is the first step of a project’s journey, and sets the pace for a project’s long term journey in the crypto space.
However, when it comes to investment, IDOs are criminally underrated and don’t get nearly the attention they deserve. The IDO or public sale is the last of the investment rounds, and often the one with the highest per-token price with the least favourable token vesting schedule. Therefore, there appears to be a gap between the placement of the IDO in a project’s longevity, compared to the placement of the IDO in a project’s fundraising.
At KSM Starter, we have found a solution for this: Initial Community Offering (ICOMO).
What is Initial Community Offering (ICOMO)?
ICOMO is KSM Starter’s answer to the gap between the placement of the IDO in the token journey and its placement in the investment journey. During ICOMO, KSM Starter community will experience a similar journey as a normal IDO, except that the token offered will be offered at either seed or private sale allocation terms. Through ICOMO, projects receive early project support from KSM Starter’s passionate community, while $KST holders are offered additional value offerings that are totally unrivaled across the industry.
ICOMO’s operation occurs in the exact same manner as an IDO would, and does not therefore require the community to learn a completely new way of participating.
What is the difference between IDO and ICOMO?
Because IDOs are reserved for the public, their token at public sale may have shorter vesting, but a premium on price. ICOMOs on the other hand will also be reserved for the public and the community, but will be at private or seed sale tokens. This means that the token price will be cheaper, and with potentially longer vesting terms.
IDOs and ICOMOs will co-exist, and so one should not be considered better than the other. It is simply about offering more choices to the community.
When will the first ICOMO be held?
At the current pace, KSM Starter is looking to hold its first ICOMO in late January and early February. We will keep our community well informed in advance.
About KSM Starter
KSM Starter, the primary launchpad on Kusama, is built to provide early-stage support and public funding for projects building on Substrate. KSM Starter’s incubator modeled launchpad is driven by the community and shared values of fairness, transparency, and decentralized organization. Unique to the KST ecosystem, community members are incentivized to participate in the pre IDO selection process through higher allocation rewards. Also unique to KSM Starter, collaboration is fostered among launched projects by incentivizing community members to support previous launches by awarding them with improved lottery odds. This along with the KST Ecosystem Council generates a synergistic network effect that empowers all projects to succeed and leave a lasting impact on Kusama.