BlockBits.io — not just a crowdfunding platform, it is an innovation that sets the standard for what the ICO market should become. First of all, these are safe investments and legitimate projects. For the first time, investors can decide whether they will support the project or take their money back.
Contents:
- Brief description of the Ethereum project BlockBits.io
- What makes it different from other DeFi projects?
- Blockchain platform financing methods
- Additional information about dapp
Brief description of the Ethereum project BlockBits.io
The platform provides innovative mechanisms such as safe funding vaults and milestone-based secure payments, and is designed to become fully independent, supported and managed by its token holders. Blockbits are run through the same code that is presented here as MVP.
Main characteristics:
- open source decentralized application;
- fair sale of tokens;
- democratic voting process;
- trusted operations.
Blockbits is completely decentralized and open source, which means that there is not a single piece of code between you and your investment that you cannot view and verify. Profits are directly captured by smart contracts from projects, launched through the platform and provided to investors, using the token buyback function.
What makes it different from other DeFi projects?
From the input, entered by the project owner in the creation wizard, BlockBits algorithms automatically generate a series of risk indicators for each submitted project. These are strictly mathematical indicators, based on the nature of the token minting policy, the types of funding adopted, the relationship between the milestones and many others.
Other features:
| Safe vaults | Each investor has their own separate smart contract that stores and blocks ETH and tokens until an action is available. This contract eliminates problems that can arise from hacking attempts. |
| Investor power | BlockBits token holders have unprecedented power. They can create and vote on proposals and they appear after voting automatically. |
| Responsible owners | During the development of the platform, project owners cannot use their tokens in any way, cannot sell them or vote on proposals. |
As with software development, most projects can be divided into “phases”. The developers call them "Development Milestones" and each has a percentage of the raised funds, associated with it, and requires community consent to issue funds and tokens.
Blockchain platform financing methods
There are 2 financing methods on the platform: direct and stage financing. If the project is successfully funded, ETH is released to the platform's multi-signature wallet address, and tokens are sent to the wallet address of the vault owner.
Milestone Funding payments follow the same rules as Direct Funding when it comes to incoming funds and are released in the event of a funding failure. The fundamental difference is that if the financing of the project is successful, funds and tokens will be released only after successful completion and voting by investors at the stages of development.
Additional information about dapp
The site has White Paper and RoadMap. The documentation will help you to study the features of the exchange in more detail. Also, the developers provide a section with answers to questions.