A Fair ICO Platform: RoosterRed's Uncapped Blind ICO Auctions

RoosterRed

member

Activity: 64

Merit: 10

Quote from: motionszabra on November 01, 2017, 03:29:15 PM

So, what's the purpose of having your token?

I don't have a need for a token (yet). I don't know why my thread was moved here. It is more like a DAPP for ICOs that uses a special Game Theory model. I had it in Project Development and the mods moved it.

motionszabra

newbie

Activity: 50

Merit: 0

So, what's the purpose of having your token?

RoosterRed

member

Activity: 64

Merit: 10

Hello Friends,

I am still grinding. This will happen, but I have to do things like eat. As always, spread this model to academics and industry people. These are the type of ICOs that could find favor with regulatory bodies in the US, South Korea, and China.

RoosterRed

member

Activity: 64

Merit: 10

Quote from: AT101ET on October 15, 2017, 06:21:49 AM

The point of an ICO is usually to raise funds to held with development and to keep progress on track. If the cost of development is fixed at price X, then surely the ICO would want to raise price X and not something else. As much as I dislike capped ICOs, I can understand why some exist. Where would the debs get the rest of the funds if their goal isn't reached?

I don't think companies can for sure know what "X" is. Also, everyone wants to get the most money possible for things they are selling. Even if a company thought it only needed thirty million dollars from its sale, why not do an Uncapped Blind ICO Auction with a 30 million dollar price floor? More money is always better.

Quote

Secondly, you mention that everyone would be able to participate by removing the whitelisted spots. I assume there would still be no way for US residents to participate despite this due to regulation?

Of course you could restrict who was able to bid. There is no limit to the number of bidders. Maybe I should explain things better A company could vet bidders, but it would not need to limit the number of bidders.

One of the main reasons I started thinking about this model was ICOs being restricted in the US, China, and Korea. I truly believe this is the type of ICO scheme that could find favor with regulatory authorities since it requires bidders to put in more thought and research.

Thank you for your questions!

RoosterRed

member

Activity: 64

Merit: 10

Quote from: sachithra on October 14, 2017, 11:16:06 PM

Makes so much sense! Some ICOs are greedy unfortunately. Some simply just want to "play safe". Your suggestion definitely makes sense and should work much better!

I came across one ICO that assigned 50% on marketing, it's a NO for me to invest. When asked, they told me they heavily rely on advertising/promotion to gain investors. I really don't want to dump my money into paid advertising if you know what I mean.

Thank you! I hope it makes the world a better place. It wouldn't stop a company from spending its money on marketing, which I know nothing about.

jonnytracker

sr. member

Activity: 672

Merit: 261

Quote from: sachithra on October 14, 2017, 11:16:06 PM

Makes so much sense! Some ICOs are greedy unfortunately. Some simply just want to "play safe". Your suggestion definitely makes sense and should work much better!

I came across one ICO that assigned 50% on marketing, it's a NO for me to invest. When asked, they told me they heavily rely on advertising/promotion to gain investors. I really don't want to dump my money into paid advertising if you know what I mean.

50% for marketing is crazy

AT101ET

legendary

Activity: 3178

Merit: 1348

I read your article on steemit but still have the following queries.
The point of an ICO is usually to raise funds to held with development and to keep progress on track. If the cost of development is fixed at price X, then surely the ICO would want to raise price X and not something else. As much as I dislike capped ICOs, I can understand why some exist. Where would the debs get the rest of the funds if their goal isn't reached?
Secondly, you mention that everyone would be able to participate by removing the whitelisted spots. I assume there would still be no way for US residents to participate despite this due to regulation?

sachithra

member

Activity: 153

Merit: 10

Makes so much sense! Some ICOs are greedy unfortunately. Some simply just want to "play safe". Your suggestion definitely makes sense and should work much better!

I came across one ICO that assigned 50% on marketing, it's a NO for me to invest. When asked, they told me they heavily rely on advertising/promotion to gain investors. I really don't want to dump my money into paid advertising if you know what I mean.

RoosterRed

member

Activity: 64

Merit: 10

I have decided to focus on Solidity right now. I can't find a blockchain that does all three things mentioned above, but Ethereum might be the first after zk-SARKS is added; I truthfully don't understand how all of it works together.

RoosterRed

member

Activity: 64

Merit: 10

Hello Friends,

I am developing a platform for ICOs. The ICOs will be what I call Uncapped Blind ICO Auctions. These auctions are outlined in the following article:
https://steemit.com/ico/@roosterred/a-fair-ico-model-roosterred-s-uncapped-blind-ico-auctions

Uncapped Blind ICO Auctions have several advantages:
1. There is no limit on who participates. No whitelist spots. Anyone who wants to bid can bid.
2. The company gets to raise the maximum amount of funds it ethically can.
3. Every single ICO participant is happy about the final price. No one feels cheated.
4. This is the type of ICO model that could be accepted by countries that have banned ICOs.
5. There is still usually a post-ICO bump in value (not always, which is key).

I wrote three whitepaper examples of Uncapped Blind ICO Auctions that can be found here:
https://steemit.com/whitepaper/@roosterred/whitepaper-examples-of-uncapped-blind-ico-auctions

The platform needs private transactions, private accounts, and smart contracts to work. As of today, I don't know of a blockchain that does all three, but I suspect that will change soon. I think it can be done through ARK SmartBridges to a privacy coin or on Ethereum after future updates.

I am going to be learning programming so I can build/help build the platform.

I encourage you to ask questions or give criticism. I will post updates about the project here.

Your Friend,
RoosterRed
[email protected]

Topic: A Fair ICO Platform: RoosterRed's Uncapped Blind ICO Auctions (Read 585 times)