What we did for...

Token-based crowdfunding


Cryptocurrency has brought a financial revolution and we can’t avoid that fact. Our customers have come up with a modern disruptive idea to collect funds via ICO, and thus to emit 2 tokens. Those tokens would later be used as shares to participate in company’s development.


FIY: In short, an ICO is essentially a fundraising method based on cryptocurrency. It can launch a new cryptocurrency or create tokens used to fund a new business. In return for an investment (typically in Bitcoin or Ether due to its liquid value), investors receive early ownership of the cryptocurrency or tokens.


Our customer had an immense goal   - to launch the crowdfunding campaign in 2 months - so he asked us to write an appropriate delivery schedule and to involve as many developers as possible. To meet the customer’s need we made up a team qualified in smart contract development and programming  and produced a Gantt chart with the stages of delivery


For this project we used Ethereum platform that gave us an opportunity to concentrate on the convenience of money transfer and not to worry about blockchain security. We wrote a smart contract that creates tokens and destroys them when necessary. A separate smart contract was written for coins transfer within the system.


Why did we use smart contracts?


Smart contracts are scripts that run various operations connected to finances, i.e. transfer funds with minimal fee. We have generated a smart contract in order to set the strict conditions. The website is meant to send requests to smart contract in order to check whether the conditions are met or not. The smart contract is known for having strict rules that cannot be changed.


Which payment systems did we integrate?


The customer wanted  his backers to participate in the crowdsale with the currency BTC, ETH, WAV directly with no payment gateway fee. In order to realize the wish we integrated direct payment and on top of that the team  decided to integrate MangoPay and CoinPayments gateways to facilitate money transfer and to get funds in fiat currency (USD).


What we did for Users of the system (backers):


  • User can sign up/in (username/psw, oAuth with facebook/google)
  • User has a wallet and can check their balance
  • User can send and receive tokens
  • User can send ETH/BTC/WAV to the platform Ethereum address and receive new tokens back depending on a given set of rules
  • User can see their separate transaction list depending on the invested currency


What we did for Admins of the system:


  • Admin can set ICO start/end date
  • Admin can set hard cap/soft cap accordingly
  • Admin can set bonus
  • Admin can edit website content


What we did for the visitors of the website:


  • Visitor can see ETH/BTC/WAV/USD balances in real time
  • Visitor can see total number of backers
  • Visitor can easily sign up using their Ethereum wallet


As a result we produced a fully functioning ICO website and 2 tokens required by the customer. The customer is planning to raise $10M. All the parameters, but the smart contract conditions, can be set from the Admin panel of the website.


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