Inventor of the ERC-20 standard starts his own ICO - with an innovative concept

Fabian Vogelsteller claims to be the inventor of the token standards ERC20 and ERC725, which are based on the Ethereum blockchain. Now the developer has announced his own Initial Coin Offering (ICO). But this will take a different form than the one we know from the countless token sales.

Investors are entitled to their capital during the ICO

With the ICO, Fabian Vogelsteller is starting a new project called LUKSO. LUKSO is a decentralized ecosystem for brands, innovators and creative people. The project should make it possible to prove the possession of physical goods through digital certificates. The blockchain is powered by LYXE, the cryptocurrency of the LUKSO ecosystem.

For the pre-sale of the tokens, Fabian Vogelsteller has come up with something new, because the ICO does not work like others. Vogelsteller call the new concept "RICO" - reverse ICO. This form of token sale enables investors to retain their investment during the ICO's term. If the funding goal is not reached, or if an investor decides against the project, they will automatically get their capital back as soon as they send LYXe to the rICO Smart Contract. Because the ICO system is based on smart contracts of the Ethereum Blockchain.

Presale starts in 20 days

Another difference to traditional ICOs: With an increasing number of participants and increasing capital in advance sales, the price also increases in stages. This will eventually lead to much FOMO for many investors.

If Fabian Vogelsteller is just as successful with this project as the ERC-20 standard, the project should definitely be exciting. The pre-sale of the tokens starts in a little less than 20 days. All information about participation and about the project can be found on the official website of the reversible ICO.

To prevent money laundering and to meet the legal framework, investors must go through the know-your-customer process. US and Chinese people are excluded from the presale. The minimum deposit is 0,001ETH, risk-taking investors can deposit up to 4000ETH in the smart contract.


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