Avoid Future Financial Losses from Scams
DESICO or Decentralized Ecosystem for Security ICOs is supposed to be the“future” of security token trading. The platform will allow accredited (KYC’d and AML’d) investors/traders and start-ups to buy, sell and issue security tokens in full compliance with regulations.
At first glance, Desico is promising since the next probable crypto hype will be the emergence of security tokens after the era of Initial Coin Offerings (ICOs). Desico is one among the many crypto businesses that plan to capitalize on the rise of security token offerings or STOs.
They promoted heavily on social media via bounty programs in which instead of paying participants outright with BTC, ETH or cash, they were promised a portion of the ICO or STO tokens. Frankly in 2017, bounties were popular because of this — since the fundraisers wouldn’t have to shell out anything with actual monetary value, practically zero risk for them (It’s only when the token is traded, it gets value).
Vytautas Matulevicius — Chief Marketing Officer in Desico also promised a specific date range for distribution:
It was also clear from the very start that whether it was an ICO or an STO, campaigners will get paid for their efforts in spite of the additional hoops participants had to get through (KYC procedures that were not required before). I somehow suspected they are trying to reduce the number of participants when they implemented KYC/AML procedures for promoters so that they will pay lesser number of people.
DESICO KYC will be open until token distribution which is set on the beggining of February 2019. KYC/AML procedure will be required in order to claim earned tokens, the same at it was when we were planning to have DESI utility token crowdsale. It was announced in bounty conditions and it will remail as it is legal requirement.
Even DESICO Community Manager, Ingrida Willems, was echoing the same message.