WHITEPAPER

 

Tim Draper, Venture capitalist

"...equity crowdfunding gives entrepreneurs access to a new group of investors who might be great assets to their business. I welcome investing in crowdfunded companies. It means that a company has a large number of promoters before I even invest"
 

EXECUTIVE SUMMARY

Vision

Integrating crypto and crowdfunding is an idea whose time has come.

KICKICO is a blockchain-powered crowdfunding 2.0 platform.

Cryptocurrencies are the magic ingredient that made our vision technically possible; they give us the opportunity to build a crowdfunding platform with the blockchain ideals of decentralization, transparency, and verifiability.

KICKICO combines two industries: blockchain and crowdfunding. Instead of centralized platforms like Kickstarter or Indiegogo we gave people right to choose and protected their smart contracts. The KICKICO suppor"ts three kinds of fundraising campaigns: ICO, crowdinvesting, and crowdfunding. No other platform can boast the same flexibility and freedom of choice.

A crowdfunding revolution is happening. Crowdfunding got some hype around 2009 as a more democratic means of funding projects, but there has been amazingly little innovation since then. We are futurists, with a plan to reshape crowdfunding using the blockchain.

 
"American Health Care Tragedies Are Taking Over Crowdfunding"
"Dubai To Open Up To Crowdfunding Platforms, As Part Of Fintech Push"
"8 of 10 the most successful crowdfunding projects are based on cryptocurrency. 9 were obtained in 2017."
"Postmodern crowdsourced blockchain capitalism has clearly improved upon the stodgy old 20th-century methods of financial capitalism "
"Crowdfunding would reach $90 billion by 2020."
"Trends Show Crowdfunding To Surpass VC In 2016."

Working platform

In contrast to many other ICO, we have the final product.

We've been engaged in crowdfunding since 2012. With our help, hundreds of companies were able to bring their ideas into reality through successful fundraising. In 2014, our team began the creation of our own independent crowdfunding platform. We have conducted numerous studies of crowdinvestors’ behavior, surveyed the disadvantages of the existing crowdfunding websites, and evaluated the reasons why funded projects fail so often. After 3 years of design and planning, we are ready to present KICKICO - a unique platform for ICO, crowdfunding and crowdinvesting companies that is convenient for both founders and investors.

 

 

Our platform is already fully operational. It is not just a prototype. You can submit your project at kickico.com and start accepting payments right now. Several campaigns to fund games or services are live on the platform right now. And we are experiencing a huge demand even at this stage - hundreds of founders have contacted us with ideas for apps, services, books, games, films and more.

Who set to goals in relations with our partners:

1. Train the funders to create successful projects based on the crypto currency.

 

2. Select the most interesting projects, which together with us will change the world of crowdfunding for the better.

 

Ecosystem approach

It is important that the relationship between the founders, investors and the community be transparent. Therefore, KICKICO will be built as an ecosystem. Long before launching the platform, we created the principles of organizing the relationships between all the participants of KICKICO - they are called KICKONOMY. They include

 

 

 

 

KICKONOMY Benefits:

Allows to create marketplace within the platform

 

Motivates project authors to be successful on the platform

 

Motivates participants to be active

 

 

Increases the liquidity of the KickCoins

 

Designed to protect investors and backers from failed or fraudulent campaigns

 

Protects from default

 

 
 

KICKONOMY is based on KickCoins. In case of pre-ICO and ICO campaigns, investors receive tokens, or cryptocurrency in exchange for their money. However, unlike any other platform, investors on KICKICO always receive one more currency created by the KICKICO - KickCoins. It gives them a double benefit.

With the help of a community interested in the liquidity of KickCoins, we will actively support the most effective internal projects. We will be developing both a platform and blockchain-based products.

Roadmap

We know exactly what we want since 2015. Crypto-currency brought us closer to our goal. They gave us opportunity to build absolutely transparent platform with the blockchain ideology. Ahead of us is the integration of cryptocrowdfunding in our present. We perfectly imagine what stages we need to go through to become a key blockchain crowdfunding platform in the world.

 
Crowdsourcing market global analysis
Project architecture development
Prototyping
Seed funding received
Platform development
Blockchain first vision
KICKICO Alpha-version
Credit line approved
Blockchain risk analysis successfully finished

Platform integration with blockchain
Blockchain beta-version released
Whitepaper public announcement
Smart contract launch
Public audit
First creators add theirs project
preICO
ICO
KICKICO public launch
Infrastructure development
Project creators attraction
Community development
First projects as part of KICKONOMY
Support program launch
Cryptocrowdfunding chat-bot ver 1.0
Salesforce CRM integration
Crowdfunders community launch
KICKICO best cases on TEDx
Sharing widgets
Reward system launch
Smart contracts visual kit
Marketplace
UX-survey
Gamification mechanics loyalty program
Localization
Crowdfunding community offline events
Cryptocrowdfunding academy launch
Mobile app development for Android & iOS
Integration with additional platforms from Etherium ecosystem
Crowdfunding blockchain fund launched
KICKOIN payment system API for easy integration into independent platforms or apps
Stock exchange release
Local creators & investors communities development
Platform toolkit development: consulting, marketing, legal support
Mobile apps public release
Integration in Smart devices (blockchain of things)
API for standalone crowdfunding campaigns
Business account for all marketing & advertising projects insights
 

We are future thinkers. We want blockchain to be shaped way we crowdsource. For instance, we are going to launch first in the world Cryptocrowdfunding bot. It is an entry point to investment, which is always with you

ICO KICKICO

As a demonstration of the platform productivity
we are conducting our preICO and ICO
 

preICO

28 July 2017

ICO

29 August 2017

 
 

Campaigns goal is to raise funds for the development of the project: development, marketing, educational crowdfunding academy and team.

 

Marketing

We have already been successful in attracting founders with the most bold and topical ideas for blockchain projects to our platform. To continue this push, we need to invest in platform-recognition in different international markets: USA, China, South Korea, Japan, Australia, Russia etc. We are planning marketing for the first projects - and maintain media coverage on CoinTelegraph, CoinDesk, Forbes, Mashable, Fortune and other media.

 

 

Education

Our mission is to help our community grow in knowledge. KICKICO has an educational team to educate founders on how to create successful projects, and investors on how to support them. We will go even further - building an academy on our website with the knowledge shared by the community.

 

 

Development

We are offering blockchain community platform for the crowdfunding of the future. It is impossible without implementation of the innovations. We need funds for the development of the project infrastructure: launch of the crowdfunding chat-bot, community system management projects, internal modules security test and so on.

 

Team

Development of the platform is impossible without talented people. We are attracting experienced investors, blockchain community leaders, UX-specialists, mobile developers, representatives of the support service and etc to work on the platform. With their help, we'll build a strong HR-brand on the blockchain market. We know exactly what steps we need to go through to become the world’s go-to crowdfunding platform.

 

KickCoin Price Growth

 

Why Buy KickCoins Now

We have made an approximate forecast of an increase in KC value. According to our plan, it will happen because the KC price is now only 0.000167 ETH. The ICO price will be twice as high, with one KC equal to 0.000333 ETH.

STAGE DISCOUNT 1 ETH = KC PROFIT
preICO 66.67% 6,000 х 30
ICO 33.33% 3,000 х 15
launch 0% 2,000 х 10
Year 1 0% 1,000 х 5
Year 2-3 0% 200 х 1

We want to inform you, that within the framework of the test investment round, we have already attracted 500 ETH (with a minimum contribution of 50 ETH). Thanks to this activity, we have brought together ideologists who believe in the future of the project and are convinced in the effective functioning of KICKICO.

Dedicated team

My name is Anti Danilevsky and I am ideologist of KICKICO. I specialize in the successful implementation of crowdfunding projects for 7 years already. As the founder of the largest crowdfunding community in Europe, I perfectly understand the thoughts of the founders and investors. We've seen the situation when crowdfunding projects made beautiful promises, collected funding and then disappeared so many times. It pains me so much to look at the centralized world of crowdfunding, so when the blockchain appeared, I decided to make a move.

I've assembled a team which is motivated to make the world of crowdfunding better, and together we want to build the first blockchain crowdfunding community, and offer it the platform it deserves. This is impossible without innovating, so we need funding to develop the the codebase: launch a crowdfunding chat-bot, community system management projects, security audits of the internal modules, and more.

 

Anti A. Danilevski
Founder and CEO

 

Alexander Petrov
Co-founder and CFO

 

Andrew Perepelitsa
Co-founder, CTO
 

 

Dmitry Raskladka
Business Development

 

Verdandi Cao
Lead Designer

 

Nick Syusko
Chief marketing officer
 
 

ALL TEAM

Appreciations

Our project cannot be imagined without blockchain community that granted the world unprecedented opportunities. The ideologists behind the largest crowdfunding projects in the blockchain economy helped us make sure that we chose the right direction. We are giving our thanks to:

 

Vitalik Buterin
Ethereum

Raised
$185 000 000

 

 

Bernard Lietaer
Bancor protocol

Raised
$152 000 000

 

 

Sergey Sholom
MobileGo

Raised
$53 000 000

 

 

Toby Hoenisch
TenX

Raised
$80 000 000

 

DETAILS

ICO market problems

As ICOs or "Initial Coin Offerings" become increasingly popular, more and more companies are using this technique as a fundraising mechanism. However, this is a new frontier and there are no regulations around it. As a result, there are many fraudulent campaigns, where founders disappear after they have raised funds, essentially scamming the public.

The founders of ICOs also face problems. The space is currently very fragmented, there is no comprehensive list of ICOs, and developers must create their own landing pages and publicity campaigns from scratch. This reduplication of effort wastes time and resources that could otherwise have gone into developing a better product.

This fragmentation also affects potential backers adversely. People currently find out about ICOs more-or-less at random, perhaps because someone they follow on Twitter mentions them. Even a person who takes an active interest in the cryptocurrency scene, and follows it online, will often fail to hear word of an ICO, simply because communication is currently so fragmented. As a result of this communication failure, developers miss out on investors, and potential investors miss out on ICOs they would have willingly supported.

After someone does make the decision to invest in an ICO, there is another sticking point: ICOs take place on multiple different exchanges, using multiple different currencies, often requiring a lengthy verification process. More potential backers are lost at this stage.

And finally, companies that would like to enter the ICO market, but do not have their own cryptocurrency or tokens are completely deprived of such an opportunity. If you are not an Ethereum developer, it's incredibly challenging to launch an ICO. Thus, as of today, there is no single convenient venue either for creators of ICO campaigns or their backers. There is no single platform that allows for convenient viewing and discussion of campaigns without prior technical knowledge.

Crowdfunding market problems

Crowdfunding has its own difficulties. After raising millions of dollars, many large projects either flopped, never kept their promises, or completely disappeared. As a result, a huge number of people lost their money along with their belief in crowdfunding. As many as 80-90% of crowdfunded projects never deliver their product. The main problem in crowdfunding is that backers are completely unprotected and there are no guarantees that they will not lose their money.

Problems that campaign creators have to deal with are equally challenging. Launching a Kickstarter campaign requires a resident to be present in one of the countries of official work, and there is also a lot of paperwork to fill out. As a result, many creators have no access to large crowdfunding platforms, limiting their fundraising opportunities, and narrowing the reach and diversity of the platforms.

Crowdfunding is now dominated by astroturfing campaigns run by large, well-funded companies, rather than indie developers. This inversion of the intended purpose of crowdfunding happened for financial as well as legal reasons. The hidden costs associated with running a crowdfunding campaign are not commonly recognized:

5% fee to the platform
3-5% for payment processing
Costs of rewards for backers
Fee to a U.S.-based intermediary
Professional PR services to promote the campaign
Taxes on funds raised

In the end, creators are only left with 60-80% of the funds raised. This is one reason so many crowdfunded projects fail to deliver on their promises; there is not enough money left over after paying the expenses of the campaign. Some crowdfunding campaigns even end up costing the creator more than they raise.

Finally, crowdfunding and ICO campaigns are typically only available in English. Translations, if any, are made by third parties, on creators' own websites, which significantly narrows the audience of such campaigns.

Solution: KICKICO

KICKICO is a site for automated and independent ICOs, pre-ICOs, and crowdfunding campaigns, built on Ethereum and funded by cryptocurrencies. The purpose of KICKICO is to solve the aforementioned problems and create a single platform that will unite the creators and backers of ICO and crowdfunding campaigns to form an active, up-to-date community.

 

Versatility

The KICKICO platform supports three kinds of fundraising campaigns: ICO, crowdinvesting, and crowdfunding. No other platform can boast the same flexibility and freedom of choice. In case of pre-ICO and ICO, backers receive tokens, or cryptocurrency in exchange for their money. However, unlike any other platform, backers on KICKICO always receive one more currency created by the KICKICO platform itself - KickCoins. Therefore, when they support pre-ICO, ICO, or crowdinvesting campaigns, backers receive two currencies at once, which gives them a double benefit, and when they support crowdfunding campaigns, they receive KickCoins, insuring them against the failure of the project

 

Financial Benefits

Unlike other platforms that charge a 5-10% commission fee for the placement, not to mention another 5% given to the payment system and 10-30% paid by creators as fiat money taxes, funds on KICKICO are transferred to campaign creators practically in their entirety, as cryptocurrency. The platform charges 4% for ICO campaigns and 4% for crowdfunding campaigns. This fee is taken when the project has successfully finished fundraising. In the case of ICO campaigns that mint new tokens for backers, KICKICO additionally takes 4% of the tokens or cryptocurrency produced by that campaign. All other funds are immediately transferred to a campaign creator who decides where, how, and on what terms their taxes will be paid. Therefore, many creators of crowdfunding campaigns launched on KICKICO pay only 4% fees in ETH as compared to a minimum of 15%-40% if they are launched on first-generation crowdfunding platforms.

 

Crowdfunding campaigns

Creators of many campaigns do not need to create their own cryptocurrency or tokens. For example, a creator raises funds to produce a play or record an album. Such creators cannot launch ICOs, and all they can do is promise some rewards to their backers. In the vast majority of cases, backers do not receive anything but promises, because their interests are not protected.

KICKICO platform solves this problem by providing backers with its own currency, KickCoins. Thus, when they support crowdfunding campaigns with their money, backers get not only promises (as on other crowdfunding platforms) but also a real valuable asset - KickCoins. This currency will not only grow in value over time but will be later accepted for payment on the KICKICO platform itself.

Thus, the KICKICO platform creates a completely new concept: "ICOs for crowdfunding".

 

Crowdinvesting campaigns

Not a single popular crowdfunding platform currently allows creators to conduct crowdinvesting campaigns (sometimes called equity crowdfunding campaigns). This is because there is no legal structure that allows many backers, from many different countries, to become beneficiaries of a start-up. However, Ethereum technology allows us to forget about such problems. The code can do what the legal system couldn't. We now have the opportunity to organize crowdinvesting campaigns not only for residents of one country, but for the population of the whole world, regardless of their place of residence, jurisdiction, nationality, and other bureaucratic obstacles. Crowdinvesting campaigns are similar to ICO campaigns, but the tokens give some part either in ownership of the company, or a share of profits, or something else the campaign creator decides on (it is different for each campaign)

 

Synergy

With the features described above, KICKICO creates a synergized place for different audiences that did not interact before, such as creators of ICO and cryptocurrency projects and their investors, or creators of classical crowdfunding campaigns and their backers who have never dealt with cryptocurrencies before. All parties benefit from KICKICO's new system: creators get access to new audiences and sources of funding, while also significantly lowering their overhead. Backers for the first time get a guarantee against the failure of their projects, get the chance to receive equity in return for their investment, and get access to a broader range of projects.

 

KickCoins

KickCoin is a cryptocurrency awarded to backers who support preICO, ICO, or crowdfunding campaigns. KickCoins are issued by the KICKICO platform to backers in exchange for either cryptocurrencies or fiat money. Therefore, KickCoins are never 'made out of thin air' but are always backed by other currencies, as well as by campaigns successfully completed on the platform. Additionally, KickCoins will never be in excessive surplus. They are always backed not only by other currencies but by campaigns themselves, and only by those that were successfully completed on the platform.

The only exception is the initial pre-generation of KickCoins. A total of 815 million KickCoins have been generated, including 15 million to conduct preICOs, and 600 million to conduct ICOs. Another 100 million have been generated and shared between the founders of KICKICO, and rest have been generated for advisory, lottery, bounty, seed investors and PR pools.

KickCoins are not intended for mining by users or any other companies

KickCoin Emission

For ICO campaigns, the platform fee will be 4% of collected ETH, and 4% of the campaign's tokens. In return, we provide from 4 to 8% of the KickCoins (in effect, selling our KickCoins to the campaign creator in exchange for the fee). Those KickCoins will be given to backers, together with the campaign tokens.

For crowdfunding campaigns, we give backers from 4% to 20% of the value of their investment as KickCoins, depends on their reputation on the site (Karma scores). This rate is being taken from exchanges, but will never be less than 0.0005 ETH per KickCoin.

This system ensures that in both ICOs and crowdfunding campaigns, the backer gets cryptocurrency for their money.

We have two requirements for creators of crowdfunding campaigns that want us to provide KickCoins to their campaigns:

1. They must provide us with photo ID, and proof of address in the form of a utility bill or bank statement (as when verifying with a payment system), so we'll know they are real and who they are;

2. The campaign must raise at least $10,000. Smaller campaigns are too risky, because they may become targets for a recursion attack, in which someone creates a campaign, pays his own money (through dummy backer accounts), receiving his own money, AND our KickCoins.

KICKONOMY

This term defines the ecosystem of projects that accept KickCoins. If a project launched on the platform has the KICKONOMY banner, it means that after its release it will accept KickCoins for payment. Thus, the more campaigns involved in KICKONOMY, the more liquid and popular KickCoins become. As the number of KickCoins in circulation is fixed at 100 million, an expanding KICKONOMY will make the value of KickCoins grow.

Not only does the KICKONOMY directly increase the value of KickCoins, but it also somehow protects backers from campaigns that may not keep their promises, giving them a liquid currency in the form of KickCoins. KickCoins can be used to buy rewards from other campaigns launched on KICKICO, or to participate in any projects that are apart of KICKONOMY. If a backer donates to a festival that never gets launched, or a play that never gets produced, their money is not lost (as with first-generation crowdfunding platforms); they have simply bought a cryptocurrency.

When KickCoins reach a certain market value, KICKICO will cease their emission and start accepting them for payment for campaigns. Backers who have KickCoins on their accounts will be able to exchange them for products or services of campaigns hosted on the platform, while financially supporting those projects at the same time. This will be an important moment in the development of KICKONOMY, because it will increase the liquidity and value of KickCoins, as well as the demand for them.

When there are a certain number of campaigns in the KICKONOMY ecosystem, a special section (market) will be opened on the platform for active and completed projects - members of the KICKONOMY ecosystem. Backers that received KickCoins will be able to visit any of them and spend their KickCoins if they wish.

Universal benefit

In the case of preICO and ICO campaigns, the benefits are as follows: they are easily launched, KICKICO has a community loyal to their projects, and users who buy their currencies receive the currency of the platform, KickCoins in addition to any newly-minted token they buy in the ICO, essentially increasing their benefit. The KICKICO system is much more attractive and profitable for everyone than currently existing Crowdfunding 1.0 platforms, which will certainly give fundraising on the platform higher chances for success than anywhere else.Backers' participation is much more profitable, and safe, here than on any other platform, because for their money they receive not only ICO campaign tokens or rewards, but also KickCoins that can then be sold or used in projects participating in the KICKONOMY ec osystem.

Simplicity and accessibility

Projects from almost any part of the world can be registered on the platform and collect funds while bypassing any red tape. There is no need for either campaign creators or their backers to make new cryptocurrency wallets - the platform creates everything automatically during the user registration process. However, if they choose, they platform also supports the use of external wallets.

 

 

Localization

Part of the vision behind KICKICO is to open up crowdfunding to a truly international audience. Ethereum technology allows us to bypass legal and financial obstacles to global participation, but we also want to make it easy for creators to run campaigns in multiple languages. The platform's interface supports localization to most common languages, including Chinese, and campaign creators can also choose the languages in which for their campaign will be listed on the platform. When creating a campaign (or during editing) they can select any desired language and add the corresponding text. This allows crowdfunding to reach the 92% of the world who do not speak English. This expansion of the target audience will, in many cases, multiply the number of potential backers. Partly owing to that, localized campaigns become more noticeable in the media, as more local periodicals, journalists, and bloggers get an opportunity to read about them in their native language, and more people are ready to share such campaigns in social networks.

Platform readiness

Most projects aiming for ICO are merely ideas without any implementation. However, KICKICO has tested this platform, and all the features described in this document have been implemented. Thus, KICKICO does not give any promises for the future - all of its features are already placed at the disposal of its users. The platform will be fully open to the public starting September 2017.

FUNCTIONAL SPECIFICATION

Users

Registration

Any user must be registered on the platform to carry out any activities. Registration is a standard process through email, or you can sign in through Facebook, Google, Twitter. KickCoins, BTC, and ETH local wallets are automatically created for users during the registration process.

 

KickCoin wallet (KCW)

All users of the platform have their own unique wallet created automatically. If a user requests, their wallet can be replaced with a different ID, which may be necessary if the user's access to their wallet was somehow lost. The password for a newly created wallet is the same as the user's account on the platform, but it can be changed if the user wishes.

 

Backers

A user who supports any campaign on the platform receives the status of a backer. Backers can be creators at the same time. If a backer supports a campaign that has its own cryptocurrency or token, then a corresponding wallet is automatically created for the backer (see ICO Token Wallet (ITW) for details)

 

Anonymous mode

Some backers may wish to remain anonymous. In this case, they will be able to turn on Anonymous mode' in the settings of their profile, after which other users will not be able to view it, and when they make pledges, their avatar, first name, and surname are hidden - creators and users can only see that a certain amount of money was pledged at a certain time by some anonymous user. However, anonymous users are not able to post comments or send messages to creators while they are in the anonymous mode. If a user turns off the anonymous mode, all their previous actions remain anonymous. Similarly, comments or actions made by a user in the non-anonymous mode do not become anonymous if they turn on this feature in the settings.

 

Creators

A creator is a user who created their own campaign. After creating a campaign, a user becomes its creator and receives the corresponding status and access. In order to avoid misunderstandings and to improve the quality of the platform content, the same creator can create only one launched campaign at a time but may create any number of drafts. Drafts that have passed moderation are 'Public Drafts' and will be listed on the 'Public Drafts' page. If the creator has set the launch date, they become 'Upcoming' and will appear on the 'Upcoming' page or the main page, depending on the stage of platform development.

 

Users' privacy

No personal user data are available to other users or moderators working on the platform. This list includes but is not limited: emails, wallet IDs, or funds available to users, as well as direct links to accounts in social networks, even if they are specified in the user's form. Senior moderators can see transactions performed on the platform.

Campaigns

General information

Campaign is a page where the campaign creator describes their project to potential backers. It may include videos, images, and text descriptions. A campaign is created only by one creator and is permanently linked to their profile. All campaigns have certain settings, some of which are mandatory and some of which are optional. For example, the target amount of funds to be raised and the fundraising duration are mandatory settings, while the availability of awards or cryptocurrency is optional.

Only the creator of a campaign can edit it, submit it for moderation, launch it, or cancel it. There can be four types of campaigns placed on KICKICO: preICO, ICO, crowdinvesting, and crowdfunding (to be specified during the creation process).

Each campaign has six statuses: draft, pending moderation, launched, completed, canceled, and blocked. Campaigns can be blocked by the platform's employees for violating its rules, for fraud, or attempted fraud

 

Crowdfunding campaigns

These classical campaigns have almost identical features to the campaigns launched on first-generation crowdfunding platforms. The only difference is that campaigns on the KICKICO platform have their own cryptocurrency wallet (BTC or ETH) that all collected funds are transferred to. These campaigns can be of two types: All-or-Nothing or Safe. These types are explained below. The type, as well as the target amount of collected funds, is chosen by the creator. Owing to its label, all visitors can easily identify the type of a campaign. All campaigns on the platform are time-limited, regardless of their type. The maximum duration of a campaign is 90 days.

 

All-or-Nothing campaigns

All-or-Nothing campaigns will not receive funds if they do not collect the necessary amount in a given time frame. If that happens, the smart contract will return funds to the backers. At the same time, backers supporting these campaigns receive KickCoins only if such campaigns are completed successfully. As a result, backers are more motivated to contribute to the success of a campaign. Their assistance in spreading information, helping the campaign, writing posts in social networks or articles in their blogs, etc., is incentivized. All-or-Nothing campaigns are for those creators who are self-confident or who can only keep their promises if they collect the required amount in its entirety

 

Safe campaigns

These campaigns will receive their funds even if they have not collected the target amount by the end of the specified time. This type is suitable for small projects or those campaigns that do not need to collect the entire target amount, as well as for many preICO and ICO campaigns that can continue their work regardless of how much they have collected. As with All-or-Nothing campaigns, for the purpose of protecting backers and preventing any fraudulent campaigns, the smart contract only transfers funds to the campaign creator once the campaign is completed. KickCoins and other rewards are also transferred to backers only after the successful completion of a campaign. Therefore, if a campaign is canceled in the middle, even if it is a Safe campaign, backers get their funds back.

 

PreICO and ICO campaigns

Campaigns of this type differ from crowdfunding 1.0 campaigns in having an ICO Token Wallet (ITW) that allows them to automatically distribute their own cryptocurrency (or tokens) to the backers supporting the project. As with crowdfunding 1.0 campaigns, creators of preICO and ICO campaigns can add rewards of different tiers. ICO and preICO campaigns can be of an All-or-Nothing or Safe type.

 

Rewards

Rewards on KICKICO will be similar to those on crowdfunding 1.0 platforms: the creator indicates what the backer will receive for pledging a certain amount of ETH. By making a pledge, a backer receives this award (either at the end of the campaign or, after the project is implemented), as well as the equivalent amount of KickCoins at the current exchange rate. Thus, the backer does not just give away their money, but exchanges it for the reward plus the KickCoins provided by KICKICO.

Creators launching ICO campaigns can use awards to implement a bonus system. For example, a backer buying a tier for 10 ETH can get 50 tokens, and when they buy a reward for 20 ETH, they can get 120 tokens. The quantities for every tier and exchange rates are set at the creator's discretion. In addition to campaign tokens, backers of ICO campaigns also receive KickCoins at an exchange rate currently on the market, or at a minimum rate if the price has not been determined yet. Tier bonus is also applied to KickCoin

 

Goals

Campaigns can have different types of goals:

  1. Time-limited campaigns collect funds until the specified time is over (which was the generally accepted system in first-generation crowdfunding).
  2. Campaigns with funding goals collect funds until the target amount is reached, which is specified in ETH.
  3. Campaigns with a fixed number of tokens to sell. This option is suitable for ICO campaigns. When creating campaigns, its creator selects the desired goal and deadline. After a campaign is launched, its goal cannot be changed.

Thus, campaigns come in the following configurations:

  1. ICO/preICO All-or-Nothing, time-limited campaigns, with a goal to collect the whole required amount in a time frame specified by the campaign creator;
  2. ICO/preICO All-or-Nothing Tokensale, with a goal to sell all tokens created by the campaign in a time frame specified by the creator. These campaigns need to sell all of their tokens, and if they fail to do so, the smart contract marks their campaign as unsuccessful, and returns all funds to the backers, and the tokens are not transferred.
  3. ICO/pre-ICO Safe Crowdsale, with a goal to collect as much funding as possible in a specified time frame. Here the final amount is not so important. This could be used by a cryptocurrency start-up selling their currencies in an ICO.
  4. ICO/preICO, Safe Tokensale, with the goal to sell as many tokens as possible in a specified time frame, but without the requirement of selling all the tokens or closing the campaign;
  5. All-or-Nothing Crowdfunding, with a goal to collect the entire amount required in a specified time frame. This is the most similar to the crowdfunding 1.0 model, but achieves lower fees and less red tape by using Ether;
  6. Safe Crowdfunding, with a goal to collect as much as possible in a specified time frame, but such campaigns assert that they will fulfill their obligations to backers even if they do not collect the required amount. Not all campaigns submitted for moderation in this system can be approved: if the moderators believe that a campaign may fail to fulfill its obligations by not collecting the entire amount, this campaign will be refused.

 

Drafts

Drafts can be of two types: private and public. Private drafts are only visible to the creator themselves, or to those provided by the creator with a special preview link. Public drafts can be viewed in a special 'Drafts' section and are visible to all visitors. The creator can change the status of their campaign from private to public at any time; however, in order for a draft to become public, it must undergo moderation. Public drafts are useful for campaigns that announce upcoming fundraising, and conduct preliminary PR activities, or ask the community for help in improving the quality of their campaign; if a draft is public, you can get feedback from the community and make appropriate adjustments before your fundraising starts and it is too late to make changes.

Users can subscribe to be notified of updates to the campaign. Users who pressed the 'Notify me' button will receive automatic reminders that the launch is near or that a new launch date has been set for the campaign. In addition, users who have subscribed for notifications will even receive updates prepared by the campaign creator for drafts. That said, public drafts are a convenient place for preliminary PR activities of a campaign.

When the creator decides that their campaign is ready for launch, they should submit it for moderation, even if the campaign has been verified before its transition to the public status. Campaigns that do not pass moderation cannot be launched on the platform.

 

Coming Soon

This section is for campaigns that have passed moderation but are currently at the public draft stage. They are sorted by launch dates: the closer the launch date is, the higher the campaign is on the list. As a result, all visitors to the platform can see which campaigns are about to launch, what they are about, and when and what amount they are aiming to collect. If a user is interested in a campaign, or decides that they want to participate in it, they will subscribe for notifications and track its progress starting from the draft stage. This system helps creators build an audience in advance in order to give a powerful boost to a campaign from the very start of the fundraising, which greatly influences its future and increases the chances of its successful completion.

 

Moderation

Moderation is performed by users with the status of 'Moderator' or higher. The status of moderator can be appointed both to platform employees who work under a contract, and to regular users who gained a good reputation. During the verification process, moderators must check if a campaign, and a product for which funds are collected, is valid and if the campaign does not violate the rules of the platform. If a campaign is approved by moderators, it is granted the permission to launch.

 

Publication

After a campaign has passed moderation, it becomes available for publication. The creators themselves decide when they will launch their campaign and can do so by pressing the 'LAUNCH CAMPAIGN' button in the campaign settings. Moreover, the creator can specify a delayed time for the launch of the campaign - in which case it will launch without the creator's participation at the specified time. Published campaigns become visible to all visitors of the platform.

 

Comments

All users that are registered on the platform and who have access to a draft can post comments. Owing to that, creators can receive quick feedback not only from their acquaintances, but also from the KICKICO community. Campaign creators can delete comments.

Comment authors are not able to delete or edit their comments after they are published.

 

Updates

Campaign creators can post updates both for drafts and for launched campaigns. Updates can have videos, images, texts, and hyperlinks. After the update is posted, all of the users signed up for notifications on the campaign, and those who supported it (in the case of active campaigns), receive notifications via the email specified in their profiles.

Users can leave comments on the creator's updates, unless the creator turned off this function. After the update is published, the creator is not able to edit or delete it; The creator is warned of this before publication.

 

KICKONOMY banner

This banner placed on the campaign page means that the campaign creator has committed their project to participate in the KICKONOMY ecosystem. Thus, the creator declares and promises their backers that their product will (or already does) accept KickCoins as a means of payment, at a rate of conversion listed on cryptocurrency exchanges. Thus, the backers who supported their campaign, and received KickCoins in return, know that they will be able to spend their KickCoins on offerings from this project. This could include access to premium content of a video game, tickets to a music festival, or a limited edition of a book.

 

Featuring

Featuring means that a campaign is placed in the top block of the platform, visually highlighted, and awarded with the 'Featured' badge. Featuring is set by platform administrators after making a subjective decision based on such factors as high-quality preparation, traction, the number of backers, the creator's activity in terms of updates and work with the community, and participation in KICKONOMY.

All featured campaigns appear in the weekly digest and the daily mass mail sent to all users who subscribed for either of them.

In social networks, KICKICO publishes featured campaigns on its official pages and in its groups, and every time a campaign gets into the featured list, the platform publishes corresponding news on Twitter.

 

Campaign completion

There can be two ways to complete a campaign: to successfully raise funds or to fail. Failing occurs if this is an All-or-Nothing campaign and its specified time has come to an end but the goal has not been achieved. In all other cases, a campaign ends successfully, and if this is an All-or-Nothing campaign, funds are transferred to the creator's BTC/ETH wallet, and ITW/KickCoins to their backers' wallets.

Completed campaigns are shown in the profiles of the creators who created them, and in the special 'Finished Campaigns' section. Campaigns that failed are not shown on the Finished Campaigns page but remain available by following the link.

 

Easy integration of analytics

Many creators who launched on other platforms have to invent various ways to gather statistics on their campaigns. Nowhere are you provided with a simple, convenient, and easy way to do it. We are solving this problem by automatic integration of Google Analytics and Facebook Pixel into launched campaigns. All that is required of a campaign creator is to enter their Google Analytics ID in one field, and their Facebook Pixel ID in the other.

EXAMPLES OF USING THE PLATFORM

Running ICOs or pre-ICOs

General information

The platform is ideal for running ICO campaigns. It happens like this:

  1. A creator gets registered on the platform, and creates their campaign where they describe what it is about, how and for whom it works, its principles, adds images and video materials, if any;
  2. Then the creator adds their token or cryptocurrency in the settings of their pre-ICO or ICO campaign. This token is made by the creator themselves, but later KICKICO will also offer an opportunity to create a token for the creator - they will only need to select its name and specify the desired parameters;
  3. Also, the creator can specify the duration of the campaign and its purpose (collect 1,000 ETH, sell 10,000 tokens, or simply the duration of the campaign);
  4. Next, the creator sets rewards and specifies how much each of them costs in ETH and how many of their own tokens they will give in every case. For example, they can give 100 of their tokens for 1 ETH and 1,200 of them for 10 ETH, thus creating a system of discounts and lucrative offers;
  5. Next, the creator sets rewards and specifies how much each of them costs in ETH and how many of their own tokens they will give in every case. For example, they can give 100 of their tokens for 1 ETH and 1,200 of them for 10 ETH, thus creating a system of discounts and lucrative offers;

Crowdfunding

If we take crowdfunding, everything is even easier for an creator and looks almost the same as on other platforms:

  1. The creator gets registered on the platform and creates their campaign where they describe what it is about, how and for whom it works, adds images and video materials, if any;
  2. Then the creator can specify the duration of their campaign, its type (All-or-Nothing or Safe) and goal (for example, collect 1000 ETH);
  3. Next, the creator creates rewards, specifying how much each of them costs in ETH, and explains what backers will receive when the campaign is completed or the product is released;
  4. Then the campaign passes moderation and gets launched on the platform at the time specified by the creator. After the campaign is over, the creator receives all collected funds, and their backers receive KickCoins as a form of insurance if the creator does not fulfill their promises.

Crowdinvesting Campaigns

No crowdfunding platform currently allows creators to conduct crowdinvesting campaigns. This is mainly due to limitations of legislative systems of different countries, the absence of regulations, and complexities of legal registration. However, modern blockchain technologies allow us to forget about such problems and organize crowdinvesting campaigns not only for residents of one country but for the population of the whole world, regardless of their place of residence, jurisdiction, nationality, and other bureaucratic obstacles.

Crowdinvesting campaigns are almost identical to ICO campaigns, but each of the tokens entitles the holder to a share of the profits, part ownership of the company, or something else, such as voting rights.. (It is different for each campaign.)

In the process described above, users are investors, or they may become co-owners of the company, or both, or something else depending on what the possession of the company's tokens gives them. For example, a creator sells 50% of all pre-created company tokens and declares that investors will get a share in the company's profits according to the percentage of tokens they own. In this case, an investor who buys half of these 50% of tokens will become the owner of 25% of the company's tokens and receive 25% of the company's profits.

MONEY

Backing the campaign

Any user registered on the platform can back a campaign if it is active (launched).

In the case of campaign that distribute tokens to backers, these funds are added to an ICO Token Wallet (ITW) hosted on the KICKICO platform. Regardless of whether this is an All-or-Nothing or Safe campaign, the smart contract holds the funds in the ITW until the campaign is completed. If fundraising is successful, then all of the funds from this unique wallet, minus the platform fee, are transferred to the creator's wallet, and the backers receive their rewards and KickCoins in proportion to their pledges. If a campaign fails, the funds are returned to the backers' wallets from which they were transferred and they receive no KickCoins or rewards.

The platform allows users to use external BTC and ETH wallets, or can generate new wallets on the user's account. Users can add funds to these wallets from outside or withdraw from them to exchanges or markets. Campaigns launched on the KICKICO platform can be backed from these wallets.

 

Automatic payment conversion

If the creator collects funds in ETH and users transfer funds to them in other currencies, such funds will be automatically converted to ETH at an exchange rate currently on the market, and the amount of ETH after the conversion will be credited to the unique account of the campaign. The platform will support the maximum number of cryptocurrencies available for automatic conversion, and their number will constantly increase. That way, it will be as simple and convenient as possible for users to back campaigns.

 

Receiving funds by creators

The funds that a campaign receives to its unique wallet are controlled by the KICKICO platform. After a campaign is successfully completed, the funds are transferred to the campaign creator's wallet.

 

Receiving funds by backers

Since campaigns can be canceled (including by creators themselves), the backers receive their KickCoins (and tokens to their ITW in ICO-type campaigns) only after campaigns are successfully completed. Consequently, there can be no situation where backers supported some campaign, received their KC (and possibly campaign-specific tokens), but then the campaign was canceled by the creator or banned by moderators.

Backers receive their funds to the wallets indicated in their profiles. If a backer does not have the required wallet, it will be automatically created by the KICKICO platform

 

Returning funds to backers

If a campaign is canceled, all raised funds, since they are stored in a smart contract controlled by the KICKICO platform, are returned to the backers in their entirety.

If the user has not specified a refund address, an ETH wallet will automatically be generated, and the funds will be sent to that.

 

OTHER

Forbidden topics and campaigns

Due to legal issues and the complexity of the implementation process, the platform does not currently accept "real" money (USD or EUR). However, we will investigate this problem, search for options, and study the possibility of integration with already existing services to ensure the reception of "real" money. This feature will certainly be implemented in the future. Many users, who are completely unfamiliar with cryptocurrencies and do not know where they can be purchased, will have an opportunity to participate as backers. Thus, KICKICO becomes a gateway to the world of ICO and cryptocurrencies for all those who have never dealt with them.

 

Comment moderation

Offensive, spamming, and flooding comments are removed by platform moderators, and violators themselves are deprived of the right to comment. The term of the ban on commenting depends on the severity of the violation and can be either short-term or permanent.

Campaign creators who publish updates on topics forbidden on the platform are deprived of the opportunity to publish updates, and such updates will be removed.

TECHNICAL SPECIFICATION

Smart-contracts

KickCoins are created on according to specifications of ETH ERC-20. Exact information about our smart contracts will be added soon - we are working on it right now.

 

Safety of Funds

Platform employees do not have access to user wallets, including KickCoins or ITW wallets. Funds raised by campaigns and stored in their unique wallets are controlled by the smart contracts automatically. After fundraising is completed, all funds are automatically transferred to the wallet that is specified by the campaign creator, and 2.5 or 4% of the amount will be transferred to the wallets of the KICKICO platform. Platform employees do not have access to unique campaign wallets and cannot perform transfers from them.

KickCoins are generated and issued automatically, too, and only after the receipt of funds from backers to unique campaign wallets, be it ETH or BTC, is confirmed. This protects the issued KickCoins from fraud and backs all KickCoins with a real monetary value.

 

Users' Safety

Only account owners have access to their wallets. Passwords to accounts are not stored on the site, with hashing used for fast login (what type and how?). Users can either store passwords to their wallets on the platform or delete them for security reasons. In this case, a user will have to enter the password to their wallet, not saved on the KICKICO platform, for each transfer and pledge.

Links to user profiles in social networks, emails, and other contact information are visible only to account owners, and hidden from other users.

Only platform moderators and top-tier developers have access to links to user profiles in social networks, as well as access to their contact information. Moderators do not have access to user wallets, their full IDs, or passwords.

 

Confidentiality

Transfers made by users are recorded in the system and encrypted. User wallets are also encrypted on the platform, and their association with user profiles is minimized as much as possible. Only the developers of the KICKICO platform can connect wallets to platform users (except for creators, of course). This may be necessary to resolve disputes or answer questions from users if they occur.

In order to ensure the safety of backers and investors, creators who raise funds on the KICKICO platform must be public and provide backers with information about themselves. As long as a campaign they created is active, creators cannot turn on the anonymous mode. After a campaign is completed, its creator can switch to the anonymous mode, but the creator's public information specified by them when the campaign was launched will still be visible on the pages of completed (including canceled) campaigns.

All personal user data, including passwords, emails, and wallet IDs, are encrypted. This protects KICKICO users from hacking or information leaks. Even in the worst case scenario, user data, passwords, and wallets will remain safe, since no access to them or money transfers from them is possible.

TERMS AND CONDITIONS

This document is for information purposes only, and is not an offer or a call to sell stocks or securities on the KICKICO platform, or that of any other related or associated company.

Ownership

Owning KickCoin tokens does not in any way grant their holder any ownership or right to property on the KICKICO platform or that of any other related company. While the community's opinions and feedback may be taken into account, KickCoin tokens do not give any right to participate in decision making or any direction of business development related to the KICKICO platform.

 

Absence of guarantees of income or profit

There is no guarantee that KickCoin tokens will grow in value. There are no guarantees that the rate of KickCoins will not decrease, including significantly, due to some unforeseen events, or events over which the developers have no control, or because of force majeure circumstances.

 

Risks associated with Ethereum

KickCoin tokens can be issued on the Ethereum blockchain. Therefore, any failure or malfunctioning of the Ethereum protocol may lead to the trading network of KickCoin tokens not working as expected.

 

Regulatory uncertainty

Blockchain technologies are subject to supervision and control by various regulatory bodies around the world. KickCoin tokens may fall under one or more requests or actions on their part, including but not limited to restrictions imposed on the use or possession of digital tokens such as KickCoins, which may slow or limit the functionality or repurchase of KickCoin tokens in the future

 

KickCoin tokens are not an investment

KickCoin tokens are not official or legally binding investments of any kind. In case of unforeseen circumstances, the objectives stated in this document may be changed. Despite the fact that we intend to reach all goals described in this document, all persons and parties involved in the purchase of KickCoin tokens do so at their own risk.

 

Quantum computers

Technical innovations, like the development of quantum computers, may pose a danger to cryptocurrencies, including KickCoin tokens.

 

Risk of losing funds

Funds collected in fundraising are in no way insured. If they are lost or lose their value, there is no private or public insurance representative that buyers can reach out to.

 

Returning funds

If a campaign does not end successfully, or is canceled by its creator, or by moderators, the funds are returned to the wallets of those users who transferred funds to the wallet of the campaign. If the user made their payment in a fiat currency (USD, EUR, RUR, or any other), the funds are returned to their ETH wallet inside the KICKICO system. The user can withdraw this ETH or use them to participate in any other campaign launched on the KICKICO platform.

 

Risks of using new technologies

KickCoin tokens are a new and relatively untested technology. In addition to the risks mentioned in this document, there are certain additional risks that the team of the KICKICO platform cannot foresee. These risks may manifest themselves in other forms of risk than those specified herein.

 

Crowdinvesting

The KICKICO platform disclaims any and all responsibility or liability in relation to any obligations made by creators of crowdinvesting campaigns to investors who bought their tokens on the KICKICO platform. The KICKICO platform is just an intermediary between creators of such campaigns and their investors. The function of the KICKICO platform is only to transfer funds from investors to creators, and tokens of crowdinvesting campaign creators to investors. KICKICO does not guarantee the claims made by campaign creators.

 

Integrationg

This Agreement constitutes the entire agreement between the parties with respect to the subject matter of this Contract. All previous agreements, discussions, presentations, warranties, and conditions are combined in this document. There are no warranties, representations, conditions, or agreements, express or implied, between the parties, except those explicitly stated in this Agreement. This Agreement may be changed or amended only by a written document duly executed by the parties.

DISCLAIMER OF WARRANTY. YOU AGREE THAT YOUR USE OR INABILITY TO USE KICKCOIN TOKENS IS ENTIRELY AT YOUR OWN RISK, AND YOU REMOVE ALL RESPONSIBILITY FROM THE KICKCOINS FUND. AFTER KICKCOIN TOKENS ARE ISSUED, THEY WILL BE SENT TO YOU WITHOUT ANY WARRANTIES, EXPRESS OR IMPLIED, INCLUDING DISCLAIMING ANY IMPLIED WARRANTIES OF COMMERCIAL VALUE FOR A PARTICULAR PURPOSE, OR NAME, WITHOUT VIOLATION OF ANY RIGHTS OF INTELLECTUAL PROPERTY. SINCE SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF IMPLIED WARRANTIES, THE ABOVE EXCLUSIONS OF IMPLIED WARRANTIES MAY NOT APPLY TO YOU.