Mar 13, 2021
Why I think you should vote for ITCO
In which I blatantly shill for ITCO > IBCO in these final hours of the vote.
Currently voting is underway to decide if BIOPset fundraising will be done using a IBCO (Bonding curve) or ITCO (Tiered coin) offering. So what are the differences?
In IBCO every purchase raises the price for everyone else. While this does help the very earliest investors secure a low price it means that other early adopters have to pay more for their $BIOP. In the ITCO the price only goes up when certain thresholds are met.
An IBCO costs everyone more gas. With an IBCO more mathematical calculations are needed on every transaction which makes each purchase cost more gas. The ITCO can be thought of as a simplified version of a curve. The price still goes up as more purchases are made, but since it only has to be checked against tier levels there are less calculations and hence less gas.
IBCOs are old news. IBCOs have been the standard for almost a year now and some people are getting tired of them.
Nobody has used a ITCO yet, because they haven’t existed until now. We have the chance to be the first community to utilize this unique fundraising method. At the core BIOPset remains, for me, an experiment and I see a ITCO as something we can experiment with. If your willing to take a bet on these 106 lines of code (soon to undergo an audit before usage) then head over to the official proposal and cast your vote!
Link to snapshot proposal: https://snapshot.org/#/biopset.eth/proposal/Qma95S6MpeXz6ew9X1nkWYKyTfNNvfpZf3GAaXKqtM3QKk
Link to ITCO contract code:
As always you can come ask questions or give suggestions on our discord or the new forum
