Jul 2, 2018
If an ICO implements the CGS, the raised funds will be held in an escrow smart contract and released gradually to the ICO project.
But, if at a certain point an ICO investor is not happy with the progress, he/she can submit a claim to the CGS by depositing ICO tokens. If this claim receives enough support from other token holders, it gets opened and handled by a decentralized judge: the community of CGS Arbiters. They will be asked whether they think the ICO project is doing a proper use of the funds or not. If the majority believes the claim is rightful, the smart contract goes into a temporary withdraw mode and all unhappy ICO token holders can send back their tokens and recover the remaining funds left in the escrow smart contract. The CGS Arbiters vote through a secret vote and reveal process and are incentivized to vote correctly since they can win more CGS tokens by voting correctly (majority outcome) or can lose tokens by voting incorrectly (the minority outcome). More information on https://cgs.vote. You can try our MVP by following this link: https://cgs.vote.
- Open source protocol
- Decentralized community in charge of resolving disputes, who are incentivized with CGS tokens to vote correctly.
- Open Source
- Ethereum based
- ERC-20 token
MVP has been launched
Testing Phase - Rewards for feedback
Pre ICO: 31/05/2018 - 30/06/2018
ICO: 01/07/2018 - 31/07/2018
Q3 2018: Publication CGS on the Ethereum Mainnet
Q3 2018: First real ICOs will be published on CGS
Q4: V 0.5 Limited Version
Q4 2018/Q1 2019: V 1.0 Open Version
Attention. There is a risk that unverified members are not actually members of the team
Project strong sides: interesting idea, existing testnet, strong team. Project weak sides: lack of business plan and marketing details. So our position is weak positive.
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