One of the hottest ICOs that will happen in 2018 is that of CHERR.IO. It is a blockchain solution for charitable donations, and it seeks to transform the way charitable, humanitarian and socially responsible organizations function. It has already been adjudged the winner of the FutureHack 2018 during the World Economic Forum held in Davos this year.
The platform will streamline operations of charitable organizations, expand the outreach and also ensure that donors do not lose their trust while donating by improving the whole process of donation. They will give utmost importance to fraud prevention and transparency. They are also thinking of providing some decision-making power to the donors and will also have a reward system for participants who engage with the platform regularly.
They will raise funds with cryptocurrencies and ensure that donors do not have to pay high transaction fees. They will be using a gamification process to involve both interested parties who are willing to donate as well as those who volunteer to help people in need.
The total number of tokens that will be issued is 200,000,000.
However, only 120,000,000 tokens will be up for sale.
The tokens can be used by organizations to: buy or lock tokens instead of subscription to list campaigns on the CHERR.IO platform; buy or pay with tokens for exposed campaigns and advertising and to purchase or pay with tokens for whitelisting CHERR.IO on the platform.
The donors can use the tokens to:
Rate organization; to allocate funds from the emergency pool and to confirm the legitimacy of spent funds.
The token holders can use the tokens to:
buy tokens for activating or staking project for additional reward and also for buying or locking tokens for participation in the rewarding system.
The donation process is relatively simple. Donors can donate in Ethers, and only 10% of the approximate campaign value needs to be collected to mark the campaign as successful. However, if the platform receives more than 60% of the estimated campaign value, Cherrio activators will get rewarded.
The CHR token is an ERC20 token that is generated for use on the CHERR.IO platform. It is integrated with the Ethereum smart contract, and it will serve as the utility token of this platform.
The distribution of the tokens will be done as follows:
60% for crowdsale. 3% for the advisors, 2% for bounty and airdrop, 7% for the contributors to the platform, 4% for future partners, 3% for ambassadors and 21% for the founders and the team.
The use of tokens:
The Ether that will be raised will be used in the following way:
50% for development, 25% for marketing, 20% for company operations and exchanges and 5% for legal.
The whitepaper: https://www.cherr.io/static/cherrio_whitepaper.pdf
The soft cap for this project is 3,000,000 USD while the hard cap is 12,000,000 USD.
Cherr.io is based in Slovenia.
Co-Founder: David Tacer
Co-Founder: Mario Markovic
Co-Founder: Aljaz Straser
For further information on the team, please visit this page: https://www.cherr.io/.
Social media presence:
Donating to a good cause is one of the good things that the human race is still capable of. Millions around the world do not have access to the basic amenities that we take for granted. CHERR.IO is planning to simplify and streamline the process of donations. It is a novel initiative, and this project certainly has a lot of potential.