Hello dear friends! Today we will talk about the project Loligo. The project aims to make the process of ICO safe and reliable. Let's start!

The time of capitalism has profoundly changed the global economic model. The need for capitalization made the business directly dependent on traditional financing: personal resources, banks, sales of capital and business angels. The Internet revolution allowed project sponsors to introduce new ways to raise funds, and a new concept was born: crowdfunding. Crowdfunding is a process that is usually organized through a website and promoted through various social networks. This allows entrepreneurs to raise funds for projects by collecting investments directly from individuals. In exchange, benefits, discounts or contributions to the share capital are offered. Since banks are no longer the sole owners of funds and capital, projects are likely to be carried out more freely.

After the advent of cryptocurrency, crowdfunding acquired a new format: ICO (the original offer of coins). ICO is a fundraising method that includes issuing tokens on the blockchain independently of a trusted third party. In this case, the Buyer does not have a stake in the company, but a token that will allow him to use the service immediately after developing the final product, with the hope that its value will increase due to demand. ICO has several undeniable risks because the project itself is not insured against unsuccessful future or poor management. There are many fraudulent blockchain projects. We need a solution that will help reduce risks in blockchain startups.

Loligo is a platform for launching an ICO that will check projects for security and relevance, and only then give the go-ahead to the initialization of the crowdsale. This will reduce the amount of scam in the industry and make it more attractive to investors.

The start-up algorithm on Loligo is simple:

• The development team makes a request to launch ICO.
• Loligo experts check the project on a number of criteria and make a conclusion about its reliability.
• If all goes well, a smart contract is created for the release of tokens, the launch of a tokenail and the fair distribution of the funds collected.

Verification of the project will be carried out with the help of internal experts. The principle of forming a pool of experts and criteria for evaluating startups have not yet been announced.

Benchmark. The project evaluation system, which includes both the results of automated analysis and consultation of internal experts. Automatic analysis includes code analysis, unit testing, testing in a simulated environment, and load testing. At the same time, unlike the valuation services already available on the market, the Loligo platform will analyze the performance and reliability of ICO in real time.

Ethereum Relay. The component that allows you to interact between the blockchains Loligo and Ethereum. It allows a Loligo account to receive payments from Ethereum and vice versa.

Smart Wallet. This is the entry point to the Loligo ecosystem. The wallet allows you to store, transfer and sell LLG tokens, as well as participate in various ICOs.

ICO Market. All tokens released under the platform immediately go to the market, where they are classified by category, availability, and popularity. Purchases in this market are made in Fiat using smart wallets.

Smart Explore. An efficient and simple interface that will be useful to investors for tracking the development of ICOs.

LCC Factory. A tool to edit, check, test and publish your smart contract on the Loligo blockchain.

In addition to classic anonymity and security for blockchain startups, the ecosystem will be distinguished by the following benefits:

• Simplicity. The interface and algorithm of work is so simple that it allows you to launch new projects or to existing ones in the shortest possible time.
• Scalable. Loligo intends to use all the possibilities of the Ethereum blockchain in terms of the possible scale-up of the project, but with its own innovations (what exactly - the white paper doesn’t say).
• Evaluation of projects in real time. This is still a unique approach to the compilation of rating tokensails. All the others either do not evaluate the projects, or do an analysis at the beginning and then do not change anything.

The development team wants to create a platform for launching ICO, which will screen out unreliable projects. This is an interesting idea that, if successfully implemented, will attract investors and serve as a good advertisement for the crowd sales implemented on the Loligo platform. reliability of a crowdsale. Ordinary rating agencies, for example, ICOreiting or ICOBench do not do this, so their assessment essentially gives little to the investor. If Loligo follows this path, their main advantage will be fiction. If not, the project will have every chance of success.