ICO

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  • #5879 Reply

    JEG

    Daring to dream here, I can certainly see the potential, so two hypothetical questions for the team:

    1) If it becomes evident the eventual ICO will be oversubscribed, will at least long time registrants have first-in-line status to receive their fill?

    2) If prior to ICO, the likes of Google or Facebook makes the team an offer difficult to refuse to purchase development and intellectual property so far, to snuff out a spark before it becomes a forest fire so-to-speak, and it is accepted, will existing coin holders benefit as well? A nice worry to have, you never know …..

    #5880 Reply

    James

    1) Yes we would like this to be the case but it is quite hard to do because we don’t have a huge amount of control over the ERC20 contract. One of the things we can do is whitelist users before hand. So if it looks like it is going to get oversubscribed we can put maximum limits on the amount available per user. I believe there is a benefit to having lots of small investors rather than a few large investors as this gives the project more individual stakeholders. Another thing we could do is to give current users a chance to participate before we start ramping up marketing. The disadvantage of this is that it prevents “launch marketing”. We could potentially do a pre-ICO round or something for existing users/investors but I’m not keen on this as it would just delay the main ICO. Open to suggestions as well as to how current users would like to see it work?

    2) We have been approached in the past about the possibility of an acquisition but at this time we are not looking to sell the project. I think we stand a great chance of raising a large amount of capital at ICO and being able to build a solid long-term business. Our interests are as aligned with investors as they can be. If a major player like Google/Facebook approached us then it would be good for all stakeholders I think, can someone give Zuckerberg a nudge about what Durov is doing with Telegram. One thing to note is that often when these things happen it is impossible for the team to maintain full transparency because of NDA’s.

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