Initial Convertible Token Offering (ICTO)
From CryptoWiki
Basics
"ICTO stands for “Initial Convertible Token Offering”. The ICTO model was created for the fund-raising process of FinNexus with FNX — the FinNexus Token, combined with the launch of its first tokenized product — UM1S.
The ICTO model gives FNX holders the right to convert the token (FNX) into some an asset-backed token (the UM1S token). The whole process is controlled by the investors’ choices and implemented by smart contracts.
Convertible FNX bears some resemblance to convertible bonds, however, instead of converting bonds into shares of stocks, they can be converted into bond-like tokens which have a fixed rate of return."
