Initial coin offerings (ICOs) have more or less had their day. The opportunity to collect a lot of capital in a short time by issuing new coins was considered the gold mine par excellence, especially during the Bitcoin boom period in 2017. Many who wanted to get something out of the crypto cake put together a questionable use case and then issued the appropriate token. Most of it took place on the Ethereum blockchain – based on the ERC-20 tokens. However, the fewest projects had substance, if at all the Ethereum-based tokens were only used for speculation. Ultimately, this not only harmed individual investors, but also the reputation of the entire Bitcoin ecosystem.

RICO – Like ICO, only safer?

With the reversible ICOs – RICO for short – the crypto fundraising method is now to be given a more serious coating. This should make it possible for investors in the future to get back their invested capital if necessary. Smart contracts based on Ethereum ensure that the stored capital can be repaid if the funding goal is not achieved.

LYXE and the LUKSO ecosystem

As Fabian Vogelsteller, inventor of the ERC-20 token standard, now announces on medium, his company LUKSO is now in the starting blocks with the first RICO. From May 27 at around 2 p.m., investors can register for the token sale on the official website. The sales phase should then start on June 18 and last for 8 months. LUKSO wants to publish a total of 20 million LYXE, divided into two rounds. The starting price is 0.002 ETH per LYXE, the price should increase by 0.0002 ETH every month.

Image by WorldSpectrum

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