Over the past couple of years, as cryptocurrencies gained momentum, they rapidly gained the public eye. Although a promising run-up, cryptocurrencies are almost never perceived beyond volatile assets. While blockchain is a revolutionary technology, cryptocurrencies and in particular the ICO funding method suffer from multiple inefficiencies, like exorbitant fundraising costs. Similar is the case with traditional fundraising platforms such as IPO or debt instruments.
While cryptocurrencies and ICOs saw mainstream adoption, it was primarily restricted to the financial world and technology start-ups. For companies whose products had a more physical nature such as robotics or manufacturing industries, the traditional Angel/VC route is still more prevalent. Given these limitations stemming from the complex nature of cryptocurrencies, digital assets haven’t witnessed widespread adoption.
IDO – Initial DICE Offering, an Innovative Yet Simple Way of Fund-Raising:
Enabling simplicity for every business, start-up and even social organization to raise funds, DICE Money, a social mining protocol brings an innovative IDO method to fulfill all the funding needs. Initial DICE Offerings allow businesses and individuals to raise funds from individual users called miners within the ecosystem in an excessively economic way.
As DICE introduces its innovative ‘Cluster Model,’ any business or social organizations or even individuals and families can become operators in the DICE ecosystem. With the IDO platform live, thousands of operators have already joined and raised funds on the network with miners investing in their business.
The DICE ecosystem is built around small clusters of miners gathered around an operator. The primary responsibility of an operator is to validate units within the ecosystem and maintain an ownership database of all such units. While operators are considered to be limited trust parties and are at the core of the ecosystem, how does a user become an operator on the DICE platform and simultaneously raise money from the network?
How to Become and Operator and Raise Money via IDO
For a user to raise funds through IDO, he needs to become an operator within the DICE ecosystem. Once an individual/business executes an IDO by becoming an Operator, there are still no DICE tokens associated with such operator.
DICE ecosystem allows miners to mine DICE tokens and the valuation of an Operator network increases with it. Higher the number of tokens mined, higher is the valuation of an entity. This essentially defines the concept behind crowdfunding where miners gather small blocks of data with unique properties, and the goal of every miner is to achieve 1024-bit block data. Once acquired, a valid DICE unit is generated in the process, and it functions as money.
For a business to attract miners, operators need to create awareness about their business model and encourage users to start mining on their network. Every new DICE mined on the platform gets added to the operator’s value. Once adequate tokens are generated, a miner on the system has the freedom to pay the operator a certain amount of DICE units, similar to investing in a business using fiat currency. Based on the units allocated to the operator, a miner gains an equivalent stake known as equity in the operator’s business, production or service.
To encourage faster mining processes, an operator can create a timestamp in DICE ecosystem that defines premium-value units that can be mined by miners within the specified period. This process empowers miners to be investors as they generate value for businesses.
While the mined units are initially owned by miners, such users in the community have the freedom to invest in operator’s business or donate for a social cause or purchase physical goods and services. With such limitless applications, DICE truly incentivizes users to mine tokens in a highly economical environment, and as the money flows within the ecosystem, millions of users are allowed to connect seamlessly creating a social mining protocol.
Name: Dilip Chandar