CHERR.IO (CHR) ICO Review – ICO Token News

CHERR.IO is a fundraising platform that systematically streamlines the process of effectively identifying people in need of charity. This platform will provide a transparent and secure process for raising money for charitable work.

CHERR.IO (CHR) Analysis

What is CHERR.IO all about?

CHERR.IO is a global donation platform that caters to the precise needs of charitable organizations around the world by effectively expanding their outreach. This fundraising platform will optimize the fundraising processes of the charitable organization. It will develop donor trust with built-in transparency mechanism.

Supported by smart contracts, this platform will be built on blockchain technology for charity donations that aims for putting something new in the way socially responsible, charitable, and humanitarian organizations around the world operate.

What CHERR.IO aim to be?

The goal of this project is to introduce the blockchain technology and smart contracts to all charitable organizations by creating a platform that will expand and improve the existing fundraising processes. The platform will also increase transparency and will reinforce the trust of the donors in charitable organizations around the world.

Benefits of CHERR.IO platform

• Increase efficiency of charity transactions
• Strengthen People’s Trust in the charitable organization
• Real-time transparency in transactions
• Reward participants

What problem is CHERR.IO solving?

Charities done by charitable organizations around the world have modernized themselves and embraced the world of internet and social networks for engaging more people. With the evolution of the internet, it is now easier for organizations to raise money for a cause for delivering them to the people in need.

It is difficult to detect fraud as the process is centralized and rigid with difficult supervisory challenges and high overhead.

CHERR.IO Platform will help organizations to take the charity to the next level. This platform makes use of cutting-edge Ethereum blockchain technology for ensuring traceability of all the transactions and full auditability.

Why is CHERR.IO a good project?

The money going to the receiving party is fully traceable with help of Ethereum blockchain technology used in the development of this platform. It will help to increase the trust of donors who had a second thought.

1. Secure

The security built into blockchain technology is superior to any security solutions. The security solution will ensure unique and immutable data.

2. No middle man

The intermediaries have been completed eliminated in this platform in order to reduce the number of transactions and administrative costs.

3. Rewarding

CHERR.IO will develop a program of incentives for active participation in an ecosystem and of the community that will facilitate organic growth of the platform.

4. Emergency Pool

CHR tokens that are not sold during the ICO sale will be placed in the emergency pool and will be used in a special crisis situation.

5. Anti-fraud protection

Based on evidence of progress and community voting, the smart contracts are the basis that the funds will be released to the receiving parties. It will make the transactions more secure.

Token Price and Token Sale

Just like just popular ICO tokens such as KahnChat, BunnyToken, TrustaBit, Darico, KWHCoin, the CHR token will also be fully compliant with ERC20 tokens. The total token supply of CHR tokens generated will be 200,000,000 tokens.

• 12,000 ETH is the hard cap associated with the ICO sale.
• The soft cap or minimal goal that the company aims to receive during the ICO sale is 3.000 ETH.
• The crowdsale of CHR tokens will only be open to whitelist users.

Distribution of CHR tokens

• 60% of the total token supply will be released for sale during the ICO
• 12% of the tokens will be allocated to the project founders.
• 9% of the tokens will be allocated for rest of the core members associated with the project.
• 6% of the tokens will be allocated to the advisors and ambassadors of the project.
• 4% of the tokens will be reserved for future partners

Price

• The investors will be able to purchase 10000 CHR for 1 ETH during the pre-ICO sale.
• 7000 CHR tokens can be purchased using 1 ETH during the main ICO sale.

Date of crowdsale start:

As per the whitepaper of this project, the crowdsale of the CHR tokens will be launched during the first quarter of 2018. The final date of the ICO sale is will be announced on the website.

Date of the crowdsale end:

The ICO sale will end after 21 days of its launch or until the hard cap is reached.

Usage of funds

• 5% of funds collected from the token sale will be used for legal conflicts associated with the project.
• 20% of the funds will be used for token exchanges and company operations.
• 25% of the funds will be used for marketing and promotion of the project.
• 50% of the funds will be used for further development of the project.

Summary

This project will be creating a fundraising platform that will be powered by Ethereum blockchain technology similar to MoxyOne, ATFS Lab, Storiqa, Hamster, Cointed and will be supported by smart contracts. You can refer ICO stats for more information. This platform will eventually improve the fundraising processes followed by the charitable organizations. It will increase transparency and will reinforce the trust that the donor has in a charitable organization.