GAMO Protocol

GAMO Protocol is rated 3 out of 5 in the category fund-raising. Read and write reviews about GAMO Protocol. The Gamo software introduces a new blockchain architecture designed to specifically facilitate creation of Decentralized Autonomous Initial Coin Offering (DAICO) by creating the environment, includes coding protocol, test net, best practice framework and enforcement protocol — the resulting technology is a blockchain architecture that may help to create Initial Coin Offerings (ICOs) and businesses that are audited and accountable, keeping the investors safe and updated. DAICO DAICO incorporates some elements of decentralized autonomous organization (DAO). With DAICO in place, the trust is not placed completely on a centralized party but rather distributed among contributors using a democratic voting system. This allows funds to be released according to the voting and developers are kept in check to deliver their promised milestones. In this way, investors have more control over the projects. Unlike Coin Governance System which is implemented as a separate module from the ICO, DAICO is proposed as an abstract idea that incorporates the Contribution and Governance mode into the smart contract. DAICO is essentially the combination of DAO and ICO. The DAICO will have two important modes. The contribution mode and tap mode. The contribution mode can be in the form of Capped sales, Uncapped sales or Dutch auction. Benefits of DAICO Unlike a normal ICO, DAICO has measures over both contribution and governance modes. This is effectively a mechanism to keep project developers accountable. In the case of many ICOs, the project deliverables are different from initial promises. Frustrated contributors have no avenue to control the project or refund. Separate governance modules have been proposed but it is largely dependent on a centralized control team, which works in contrast to the decentralized ideal in the blockchain community. Hence, DAICO allows a decentralized control over the project, drawing from the “wisdom of the crowd” to vote on resolutions and to force accountability from the project developers. Challenges of DAICO and GAMO’s Solutions As with any new concept, there are challenges in the actual implementation of DAICO, many of which GAMO aims to solve. The most obvious problem of DAICO will be a lack of standardized framework. It is at the stage an abstract idea and has very few success cases. GAMO aims to provide both the environment and framework to make DAICO more easily achievable. It is also noteworthy to consider that the writing of smart contract is a challenge to most people. Traditionally, contracts are drafted by teams of lawyers and finance/ compliance/ subject matter experts. Coding is done by developers. Hence, the writing of smart contract involves collaboration between coders and lawyers and subject matter experts to work together. This process is often much more complicated than doing a traditional contract. Gamo creates an easy to use smart contract interface for non-developers to write contracts. The other significant problem of DAICO is voter’s issue. DAICO relies heavily on the decision made by voters but in actual implementation, there can be a number of loopholes. Firstly, voters are assumed to be educated over the project and have good decision making skills Secondly, there is also problems with lazy voters who can be absent from a resolution voting process. Road Map Jan 2019 – Research of GAMO framework in Testnet June 2019 – GAMO implementation on Ethereum September 2019 – Releasing of GAMO dApp APIs December 2019 - GAMOTech smart contract language Jan 2020 – Research of GAMO framework in Testnet March 2020 – GAMOWallet dApp May 2020 – GAMO Wallet hardware implementations Jul 2020 – Releasing of GAMO swap Sept 2020 – GAMO Shared Resources Dec 2020 – GAMO in MainNet