The Abyss Games Platform Aims to Launch First Token Sale with DAICO ‎Model

The new DAICO model was proposed last ‎week by Vitalik Buterin, the ‎creator of the Ethereum Network.

The Abyss, a developer of a crypto-based video games platform, is gearing up to hold its ‎token sale through the world’s first DAICO event, the new method for decentralized ‎fundraising that was recently proposed by the Ethereum creator.‎

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The team behind The Abyss aims to create a crypto reward ecosystem that allows gamers and ‎game developers to have a mutually beneficial cooperation. The project enables both sides ‎to earn from their efforts, with players being rewarded for playing games, while ‎developers will enjoy marketing benefits and payments for in-game items.‎

During the crowdsale event, The Abyss will launch a native token called ‘ABYSS’ which ‎interacts within the platform and allows gamers to make in-game purchases. ABYSS will ‎facilitate an ecosystem that rewards and incentivizes users to create and play games. Within ‎the platform, users can spend and earn ABYSS in several ways, helping the community ‎grow through all stages of user behavior.‎

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The Abyss aims to become the first decentralized platform that incorporates elements of ‎Decentralized Autonomous Organizations, or DAOs. The DAICO model was proposed last ‎week by Vitalik Buterin, the creator of the Ethereum Network, and is designed to ‎minimize the complexity and risk associated with ICOs.‎

The Russian-Canadian programmer says that the new model could greatly improve the ‎traditional structure of token sales and eliminate the risk of resources being used in an ‎inappropriate manner. DAICOs have the potential to revolutionize the way ‎ICOs work as investors will have complete control over their investment, empowering them to ‎continue or terminate the project at any stage to get a refund for their investment.‎

Abyss founder Konstantin Boyko-Romanovsky, commented: “DAICO provides ‎tangible solutions to the ever-changing security needs and puts transparency at the center of ‎innovation. We are confident in our capability to implement and improve Buterin’s idea. Our ‎DAICO will be the perfect bridge between fundraising and team motivations control.”‎

‎“DAICO is a new mechanism, and there should be ways to further strengthen it while ‎maintaining flexibility, transparency and security. Oracles and exclusive voting rules will do ‎the job efficiently and reliably. Only project’s contributors will be granted a voting right. ‎Controlled by the Smart Contract, the Company’s and Reserve tokens will not be eligible to ‎participate with. We will utilize the proof-of-stake algorithm during the polls, but to make it ‎impossible for the exchanges to take part, the weight of each Ethereum-wallet’s vote will be ‎limited by a certain amount of tokens,” added Boyko-Romanovsky. ‎

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