ICOlator: ICO As A Service fuel by Stellar

pacngfar

ICOlator is now available on https://icolator.io

ICOlator is a SaaS platform to create new tokens on the Stellar Network, and allow anyone to invest and receive tokens in an easy way, with 6 different crypto-currencies (XLM, BTC, LTC, ETH ...)

Dear Stellar community,

I would like to present you a project idea I have and that I may build before 30th of July

We all know that Stellar is a good protocol to create and exchanges assets, and that ICO are booming this year. And that launching an ICO with Stellar would be both convenient and help the blockchain to gain popularity.

Here I'll present you the main idea and the way I would like to present it to companies that would easily launch crowdfunding and to user who would like to invest, all in the easiest way possible for everyone. Advice are of course welcomed and foremost needed on how you see it.

The application would be splitted in two parts, the first one for companies to launch ICO and the other one for user who would like to invest in ongoing and upcoming ICOs.

The company would have to register itself, choose a token name, the amount of token to distribute, a price-per-token in XLM and a start and end date.
The user can list available ICOs, and choose to invest one.
When a user invest, they are given a stellar account for which they have to store the seed in a secure place. They are able to invest in any crypto currency, thanks to changelly service.
In the end they have a Stellar account with the equivalent token amount of the money they sent.

When the ICO is over, they are able to trade or use their token in different existing Stellar application, like trading on Lupoex, sharing with Centaurus and so on...

When an ICO is running, technically:
Issuer and base account seed are given to the company but stored by the service to send tokens.
Investors seeds are only known by investor, but we store their public key
When an investor wants to invest in BTC for instance, we generate a deposit address from changelly API (BTC->XLM) to the base account ID with a memo containing the hash of the investor's public address
The services watches for transaction to the base account, and for each payment received with a recognized memo ID corresponding to one investor, we create a transaction to :
- Create account funded with 50 lumens
- Trust the ICO asset
- Send the amount of token purchased (XLM amount received/token price)
When the transaction is over, the user is notified (contribution page with web socket and/or by mail)

Hope you like it, if you do I start coding it in fews days. I have the code base of willet that does most of the job.

Cheers

jed

Great idea!

I would do the swapping in and out not via changely but with the stellar exchange. Doesn't willet let you do this now?

The company would have to ..., a price-per-token in XLM and a start and end date.

Why not let them price the token in anything?

pacngfar

Hey Jed,

Willet allows you to deposit bitcoins via the naobtc anchor, and ethereum with the stellereum one, which is not not actively maintained, so not reliable.
I don't know other crypto currency anchor other than naobtc that is really reliable on Stellar. And that's a very limited choice. I could make BTC deposit going via this one, but I would like to allow investor to use any crypto that's why I propose Changelly. And I don't have time to create an anchor for each crypto ;D

We could do the pricing in any other currency by doing estimation, just proposed lumens as base token to promote it. Was thinking at first to make the base account juste create an offer selling their token and not really send them but it poses additional step for the investor.

pacngfar

Actually my main concern about this idea is how to make the tokens not tradable until the end of the ICO.
Any idea of how to do this ?

pacngfar

Unfortunately naobtc doesn't support deposit to stellar address with memo id, but https://btc.papayame.com/ does, but I need liquidiy to be able to convert to lumens for instance

umbrel

I'm ready to make an effort (provide liquidity and support) if you use my anchor.
Not sure why do you want tokens not tradable until the end - what does it change if they can invest and immediately start trading? I think it will just help with price discovery and eliminating sudden rise/drop after the end of ICO. Some exchanges (liqui.io) even trade IOUs for upcoming ICOs, because they can't have access to tokens yet.

sacarlson

if you want to set a base asset you want to trade your ICO for, you only need have a bot setup that is setting the price in semi real time based on the asset of interest say for instance USD from feeds you get from world markets or places like poloniex.com. you can then have your ICO bot setup orders over time at what you want them to sell for depending on the exchange rate at present. you can even control the rate at which you sell them at by setting the limit of liquidity you have set on how much of your ICO tokens you setup for sale over windows of time.

As an option you could also have it so you could have multiple open orders to sell your ICO for multiple assets of say XLM, BTC, ETH, JPY... yet all for the same base peged value you choose to sell the ICO for.

The bots I speak of are already open source on my github or you can write your own that do the same. It is the present method we use to set the prices of open orders on stellar.org network of THB and USD on https://funtraker.site Bank with XLM and BTC and other.

pacngfar

sacarlson I understand what you say, but please admit that most of people don't own BTC, ETH, JPY assets on the stellar network, and they don't know how to, so they will not invest.
The point is to make everyone invest with currencies they already own.

dzham I just want to create a demo that proves that it can be realisable, and then provide a platform/service to help any startups who wants to make an ICO on stellar. The content of the ICO is another problem, I aggree. However I'm hoping to POC it with a first real ICO with some people I have in mind.

dzham

ICOs are complicated beasts. ICO-as-a-Service even more so. And the ICO is just the first step. What happens after the ICO?

dzham

For the ICO itself I'm more thinking along the line that not two ICOs I've been part of have been performed in the same way. There's always something different. Cap/No-cap, Preregistration/KYC or completely "anonymous". Send funds directly, have an auction, have a reverse Dutch auction, tiered discounts. There are just too many variations.

sacarlson

Sorry pacngfar I failed to make you understand or show that XLM would also be on list of asset you could use to make the purchase of the ICO. I edited my response above to show that. The point being people can bring in any asset over whatever path into stellar.org to make the purchase. and they would all pay the same price no mater what they use to pay with all done with steller.org infrastructure.

pacngfar

Landing page coming soon. Here is a screenshot our new home page:

landing

pacngfar

Dear Stellar community,

We are proud to present you the landing page of our new application, ICOlator, the new platform to help companies to be guided to create their own ICO in a fast, easy and secured way.

https://icolator.io

We release the application in the next few days.

Hope you will enjoy it.

pacngfar

Just an update to tell you that the service is running, accepting creation of new tokens, and receiving investment in 6 different crypto currencies !

Check it out now : https://icolator.io

andre

pacngfar

Looks very good! How can we list an existing ICO on the platform? We have already created the eSACCO ESDT on Stellar, priced in XLM and locked etc. There's a big need for this here in East Africa, I am happy to promote the site here.

pacngfar

andre Hey, would like to add your ICO on our platform.

For you or anyone else that would put their own already existing token on ICOlator, please:

Send us a mail to support@icolator.io with information about your company, your token and its purpose. We will discuss about your project and explain how to add it.

Hope to receive your demands soon !

andre

Sure, will email you

jed

Looks cool. what is the business model? Are you charging the token creators?

Can people who didn't create their token through your site also be listed here?

jed

"When an ICO is created, the initial token supply is distributed from the issuer’s account to a base account, then the issuer is locked so that no more coin can be added anymore by anyone thus creating a finite number of them and regulating the value." - do you let them set the home domain first?

https://www.stellar.org/developers/guides/issuing-assets.html#discoverablity-and-meta-information