Really glad you are removing the bonuses. I have raised the issue with bonuses before. Besides hindering decentralization, they distort the market in such a way much of the risk is transferred from private sale investors to public sale investors. I hope other projects follow this fair practice of equal risk and opportunity.
I'd have to agree with this sentiment. During an IPO with a traditional company that is going public, do they have bonuses for people that buy the IPO early? Or do investors that invest more get a better deal?
As far as I know, I would think not, but I'm generally interested.
Actually there kind of is. After exploring what might be a good price, an investment bank buys a big amount of stock from the traditional company, with the intention of selling that stock to large investors like funds and insurance companies. The investment bank gets a better price but takes on the risk of not being able to sell all stock at the price they desire.
With ICOs the investment bank has been cut out of the process, so the company bears the full risk, ie. not being able to hit the soft and hard caps. That also means price discovery has typically been left out. Just a few ICOs used a Dutch auction, like Raiden Network. Finally, most ICO bonus tiers range from obscene to delusional.