Hey folks,
Sorry i've not been here to respond to your questions for a while we've been really busy with the pre-sale wrap up and analysis. We're going to be hiring a new member of the team to help with the community so you good people don't have to wait so long for your answers! It's been a great few days here at Acorn and we've got some great plans in place for the main ICO.
"Our smart contract only generates tokens when we receive ETH so there are no unsold tokens generated which means none need to be burnt."
First time hear about such a. What about tokens for the team? how will they be generated? Or tokens for other expenses? can for marketing etc.
The contract will generate an additional 16.66% of what ever is raised that will be time locked (half for 1 year half for two) for the team. Other expenses will be paid using Eth or fiat converted from the operations fund and revenue generating mechanisms.
Good day
please specify How are you going to provide assistance to projects that are supporting?
the nature of assistance in legal support, in advertising, in marketing, in the development of technical applications, is written in your WP
will you have additional specialists?
Good Day!
Yes, the support services will be provided by a team of experts that will form a partnership with project founders for specific campaigns. We say partnership because we strive to keep our interests aligned by only getting paid if a projects is successful.
Have you considered DAICO in implementing the project?
It’s a great initiative but we probably won’t be implementing it
Can anyone say any specific requirements for fund-raising projects will be presented? If so, which ones? I'm interested in the system of evaluation of projects before you start collecting how will you deal with deception and scam? This is a fairly "thin" moment - so I want to clarify it in advance. The fact is that there are already a number of projects that need to be collected and ready to present themselves - a question when it will be possible and again - under what conditions?
?
As with ICOs people backing any project on any platform should always conduct their own research before contributing money towards it. Unfortunately in life there will always be those who will seek to decieve others which is why people must use their own common sense before parting wth their money. We have a range of review steps to counter this. The first is simply moderation of the project, which would have to pass a legal test. The second is whether it is ethical, for which we have an ethics board. The third is the backer community who – as stated above – will scrutinise before they invest. There are other flags we will monitor such as how they interact with their community and conduct their raise. Overall fraud in crowdfunding is actually quite low – the study quoted in the whitepaper is less the 5%, but we have as many mechanisms as possible in place to filter out bad actors
And what about the above by WP insurance ? Whether insurance will be available a priori? Or risks for individual projects will not be insured.
Insurance is a specialist area, so we’ll be working with an insurer such as Lloyds of London or another to develop insurance packages. These will largely be off the shelf but there will be some circumstances where we may need to asses a particular project.
Once the project is fully operational, many ideas and other meaningful and useful projects will be realized in the world! Think about buying tokens. You not only get promising profits from speculation and accumulation during storage - you get the opportunity to join the process of creating a network of meaningful initiatives for people that will bring a lot of good and good. What better way to spend your money with pleasure)
Yeah, can't argue with that! Project are a good and positive)) How many ideas around the world can be realized? I think that hundreds and thousands of projects will get a chance to live thanks to Acorn.
Is this whole platform a copy of KICKICO or is it something completely unique? Maybe someone can quickly point out the major differences. Thanks!
KICKICO is just for ICOs we are a reward crowdfunding platform like Kickstarter except ours is free, accepts any project and is available in any country. So whether it’s the latest tech project in Silicon Valley or a community farm project in Tanzania we’re the platform for that. In fact one of the few projects we won’t support are ICOs
On your website as a partner is indicated European Crowdfunding Network.Tell us, please, on which issues you are working on and what benefits this interaction brings.Do you plan to develop your own mobile application? This is very relevant and important in our time.
ECN provide a range of expertise and training on crowdfunding, so we’re using the partnership to inform our own training packages and best practice in crowdfunding. Also, they are putting together an ICO and blockchain working group that we’re just speaking to them now about being a part of. We want to use the partnership with a leading organisation to be a closer part of the crowdfunding community, develop and share best practice and influence crowdfunding within blockchain.
Mobile is highly important to us as that is how many people (particularly those in developing countires) access the internet, so having our platform mobile friendly is a key focus.
Softcap includes pre-sale ?
Whitepaper says Main ICO Softcap 3,500,000 OAK (~5M), that suggest no pre-sale included, is that right ?
The soft cap in the main ICO is there because it’s the minimum needed to approach the project. The pre-sale cap is different because some of those proceeds will be used to ramp up to the main ICO. Whatever we don’t use in this phase will count toward the main ICO cap, so it will contribute but isn’t the same.
When would the bounty campaign end?
Our bounty campaign has now ended
- OFFICIAL ANNOUNCEMENT -
We’re extending the pre-sale!
We’ve had a whole crop of new Acorns over the weekend, and we’re still processing KYC, we’re also talking to some groups who – as you can see from this morning – have started to join the sale, so we’re extending the sale by 48 hours.
The new deadline is 12pm GMT on Wednesday.
We’re really excited about a great weekend here at OAK Towers, so keep your eyes on the channel as we push to close out the sale in the next couple of days!
Could you please give a good reason for the extension of pre-sale. I think part of the community will be dissatisfied with this decision.
We received a large number of KYC applications in the days leading up to the end of the pre-sale many of which required manual approval which took some time. We were also in conversation with a number of groups who wished to contribute which is why we took the decision to extend by 48 hours, as this lead to us selling out the pre-sale we believe it was the right thing to do.
Not bad. I wonder if there are or will be reviews in other languages? I'm sure many people need this.
We are keen to engage as many people as possible and are currently looking a putting lots of our content into multiple languages.
I would like to know - will there be any restriction on project fees? Ie. some kind of lid installed by the Acorn project itself? If it really is, what kind? After all, there are projects that require relatively small amounts of money, but there are those that have 1 million dollars will not be enough. How such a question will be solved by the team?
We will welcome all projects great or small 😊
Hi.
Question:
In what way will the seriousness of the project that will seek investment be checked?
Based on what principles will be tested for the project sponsor?
All projects submitted will be subject to manual review if the project is illegal under EU law it will not be accepted. Any ethically questionable projects will be put to our ethics board who will review it. If they can’t decide then the community will vote on it to decide whether it should be allowed on the platform. There will always be bad actors unfortunately but we will leave it the community on the platform to only support those projects they feel deserve it.
Hi.
Question:
In what way will the seriousness of the project that will seek investment be checked?
Based on what principles will be tested for the project sponsor?
In white paper it is written that the project should not be prohibited legislative, should not violate ethical norms.
Everything else I think is acceptable. Simply if the project is not worth it, it will not collect money.
And who will determine this? With the legislation more understandable. But who will determine the ethical norms? They are different in different countries. Yes and not only in countries. Even have different people they can be different. Then it may turn out that this rule will be used by the project management at its discretion?
Our ethics board will comprise of people from around the world of all genders, nationalities,ages and social-economic backgrounds to allow for all the variations of ethical views from all cultures
Time to rename this topic isn't it? Pre-sale successfully over! My congratulations to Acorn Collective! Great work.
Yeah, I think so too. Time to rename but maybe they are still preparing for the main ICO. 😊😊 Again, congrats to the success!!
Indeed and thank you!
Remind me when the main sale begins? Will the pause be long? It could be at once, on the wave of success.
Details to be announced very shortly!
The date of the next ico stage is already known when will it begin? I would like to know if you will still sell tokens with discount? If so at what discount?
Dates coming soon and the tokens will be sold at their full prices of 1 ETH: 800 OAK
Dear Acorn Collective! What is your real goal for main ICO? Do you have any comments? For now You got a lot of funds so you have good amount of money to aggressive marketing ....
$50M USD is our target and with our pre-sale funds we will indeed be able to embark on some fantastic marketing campaigns 😊
Hi,
Will the mvp/ someother beta product be ready b4 the main sale?
MVP is scheduled to be completed some time around Q2/Q3 this year. The platform build itself is not overly tricky especially with the team we have and the hires we are making all supported by David Ives (one of our advisors) who built CrowdCube the worlds first equity crowdfunding platform. We’re currently working on scoping and will soon be producing clickable wireframes and prototyping, both of which will be available before the main ICO.
What are the plans for the project now and where will it go with regard to fees? How quickly will it be possible to obtain data on a specific product that can be used in real time? What are the plans for coverage? - not all of these questions have answers in white paper - if there is such information please write here - or in a personal message. Still wondering - are there any similar projects? How are there examples?
Hi,
There will never be fees to use our platform. The platform itself will be completed Q2/Q3 this year so successful product details will be available after that. As far as coverage goes will be continuing with the multi-channel marketing approach that has brought us great success this far. As for similar projects you have the traditional crowdfunding platform such as Indiegogo and Kickstarter that aren’t available in many countries, only accept a small number of projects and charge his fees. Our platform is free to use, available in almost any country and will accept almost any legal project. In the ICO space there are platforms such as KICKICO but these are only for ICOs whereas these will be on of the few projects our platform won’t support.
Tell us more about the Acorn Marketplace. What currency can I pay for goods? This platform can be used by anyone or only the ICO participants?
The Acorn Marketplace will be a post-campaign retail platform for goods and services that were successfully funded on The Acorn Hub, provided at no additional cost to Acorn founders. This will provide instant visibility while letting founders get a free and effective new sales channel to reach users who have already expressed an interest in crowdfunding and the projects.
While platform access is free for Acorn founders, we will also accept innovative 3rd party products for a small commission. The aim is to add value to the marketplace, Acorn founders and the OAK token, in the form of increased utility.
We aim to initially allow payments in both fiat currency and OAK tokens. As the market capitalization of OAK and the number of users increase, we hope the use of fiat currency on our platform will decrease naturally due to the higher transaction processing fees incurred from fiat payments.
Once again, we hope by increasing the utility and demand of OAK in the face of its fixed supply, we can generate long-term upward pressure on the value of OAK.
As far as I understand the soft cap was collected on the presale? What is the price of ICO and when is the opening date?
See answer a few above for more details on soft cap, 800 OAK : 1 ETH for main sale, dates to be announced very soon!
It's an appropriate time to say that we really appreciate the continued support and interest you guys are showing us and our project.
We're not ignoring any of you, we have been very busy in starting to plan the Main-Sale and will be announcing some major developments very soon.
CryptoBudgie will be back in the next few days to address all of these questions that have been asked over the last few pages. Thanks for your patience!
Tell me, does your team look with confidence on the forthcoming ICO? How do you think you can collect $ 50 million?
We are feeling very confident for our main ICO, we managed to sell out our pre-sale on a comparatively small budget, so with the proceeds from the main sale we can increase our marketing a substantial amount and further our relationships with more institutional contributors and other significant partnerships to ensure we hit our target and can fulfill our dream of providing greater access to funding for all!
