The Bitdepositary System enables an ICO to publish their ideas to other project managers (companies). Their projects are checked and verified for credibility and viability. Using an intelligent community and user-based voting system. The process of an ICO project submission using the Bitdepositary system is as follows:
- Upon submission of ICO idea. The outcome is either accepted or declined. This is a proof of concept checking and validation of the team and the project that is performed byBitdepositaryand their specialists.
- Upon acceptance, the project is presented to Lawyers, Tax Consultants, and Specialists. Ifthere are any reasons why these professionals object to the project, this willbe clearly documented and visible forusers to review. Transparency is a fundamental concept ofthe Bitdepositary systems and processes.
- Once published to the Bitdepositary community of users, they are then able to vote on the idea.
- Community Users and Users of the system participate by voting will receive a bonus aftera successfulvote.
- A successful vote, with over 55% of points will result in the ICO being started within eight weeks.
- Anegative vote is classified as one which achieves below 55% of points. If the project is not progressed due to not reaching the softcap, there are no
bountypayments (free tokens) and allmonies are returned to the users in full.