DAOLaunch grant system called the IBO (Initial Buy-Back Offering) is a brand new concept of supporting recently launched startups The grant process is conducted by a fully decentralized voting process where community members vote for the most exciting start-up. Once the winner is decided, native tokens of selected startups are directly purchased through a Buy-Back system from DAOLaunch, after they're listed on the market using our allocated grant.
The tokens purchased through our Buy-Back grant are automatically burnt, we believe this is a good way to raise the price and bring positive attention to the project.