Mask Network Launches Three Votes to Improve Current ITO Process and ITO Review Board
Officially, Mask Network said that the current no-license ITO can be risky and potentially financially damaging, while the communication process for community choice ITO projects has been ambiguous and lengthy, and the ITO Review Board suffers from a lack of community representation and ineffective discussions among board members, suggesting changes to the current no-license and community choice ITO guidelines and the ITO Review Board. Mask Network will publish three snapshot polls, each lasting 48 hours.
1. improve the no-license ITO launch process: propose a MASK deposit requirement for launch, the deposit will set a threshold for no-license ITOs and take precautions in case a launch ITO is later found to be a scam.
2. Improved community selection of ITO launch process: Projects will be required to fill in information such as white paper, team introduction, investment institutions, token economy, distribution mechanism, whether there are other IDO plans, and preliminary ITO proposal; ITO review committee discusses the project and its preliminary ITO proposal.
3. ITO Review Committee Changes: It is proposed that each round of ITO Review Committee will consist of three parts: applicant users, active Mask community users, and relevant organization personnel with professional background. There will be 11 members in each round and the term will be extended from 15 days to 30 days per term.