The fight against fraud in the cryptoworld in my opinion is very important. I fully support the team in its goals. But I do not fully understand the mechanism of work. Can you explain?
Hi! Thank you for addressing one the most vital questions
Let us explain to you the mechanism:1. The project creates its road map on the W12 platform, and sets the settings for the number and % of funds required for each stage.
2. The project releases its simple ICO tokens on the W12 platform or transfers part of the emission of its simple ICO tokens to be released independently via the smart contract of the W12 platform.
3. The W12 blockchain protocol issues secured project tokens in equal number to the amount of simple ICO tokens it has received.
4. W12 platform users can buy secured tokens of ICO projects they like. All secured ICO tokens are backed by token buyer funds.
5. All funds raised are locked-up in a smart contract and will be released to the project only following the decision of token buyers once it has completed its road map milestones.
6. After purchasing secured ICO project tokens, the user can:
a.) exchange them for simple ICO project tokens via the W12 token-changer and sell them on the listed exchange
b.) receive a refund if the project fails to reach any of its road map milestones, or if the token price drops lower than its ICO level
We hoped it shed the light on the mechanism of work
