Today IEO’s allow-list and limited-sale solutions are largely populated with bots, ruining the ecosystem for both projects and legitimate users.
Prior to KaratDAO, a project aiming to conduct a private round/ICO must spend hours writing one or more smart contracts in order to locate and target select audiences. New or smaller projects may not have the financial nor temporal resources to create such contracts, which creates a feedback loop in which established projects are able to outcompete regardless of the quality of their product.
Additionally, the existing rudimentary solutions are not permissionless, which limits smaller projects from participating in and benefiting from the ecosystem to begin with. Employing an alternative approach, KaratDAO opens limitless opportunities for project managers to conduct private sales, reward-based campaigns, event ticketing, and more applications with ease.