Guys, why there is no new contributors? I understand that it is not your fault, but at least you can chance your soft cap, it is extremely huge, some projects have hardcap $5kk and in your case it is only soft. Why not to decrease soft cap to at least $3kk in order not to postpone your ICO and not to harm your image.
We’ve sold nearly 50% so far from 2000 contributors and have another 3000 who have passed KYC and yet to contribute so we’re far from done 😊 Even if we don’t raise any more (which is highly unlikely!) we will not be postponing the ICO. We only need to make $5M USD from the pre-sale and ICO to make our platform viable (it will just take longer than if we hit our target), we’ve already raised $2m USD from a comparatively small marketing budget so we only need to raise $3M USD more between the pre-sale and ICO. All in all we are in a great position and the pre-sale is far from done yet!
Guys, why there is no new contributors? I understand that it is not your fault, but at least you can chance your soft cap, it is extremely huge, some projects have hardcap $5kk and in your case it is only soft. Why not to decrease soft cap to at least $3kk in order not to postpone your ICO and not to harm your image.
Do you think there is already such a need? after all, at the current stage there is a presale and collected almost 2 kk$, there is still more than a week before the end of the presale, and then there will be an ICO period. I agree, soft cap at Acorn are a little high, but I believe that they will be able to achieve it.
was the lucky guy announced on the first day of the competition? I participated in the competition and would like to know where I can see the result.
They were announced on our Twitter feed and Telegram page 😊
All ICO projects have their own soft cap. But a projects that will be placed on your platform will have a minimum soft cap? if so what size will soft cap be or is it an individual parameter?
We will accept almost any legal project of any size great or small.
I hope guys you will be able to reach soft cap as your funds depends of ethereum rates I believe that we will witness bullish market quite soon. Will there be any kind of airdrop maybe?
There’s no softcap for the pre-sale, as stated above if we hit $5M USD at pre-sale that also means we’ve hit our softcap for the main ICO. But an airdrop is certainly something we have looked at.
I read in white paper that the entire amount of money that will be collected for pre-sale in case of failure of the project investors will not be returned.
Therefore, the project has no other way out only to be successful....
If we don’t hit $5M USD between the pre-sale and main ICO then the pre-sale funds will be used the continue MVP development and we schedule another coin offering. We realise this still presents a slight risk for our pre-sale contributors hence the 50% discount.
Devs, I wonder what will happen with this unsold tokens if you reach soft cap? I hope they the rest tokens won't be distributed among ico participants and will be just burnt.
Our smart contract only generates tokens when we receive ETH so there are no unsold tokens generated which means none need to be burnt.
Thanks Cryptobudgie! What about my question about insurance? Are there any developments?
Sorry SparkIt didn't mean to miss yours out! There’s a lot of regulation around insurance provision so we would initially use a experienced vendor such Lloyds of London to create the first range of products, its an interesting and complicated area so we would need to look at how it could be provided to add best value to founders and backers. We will be introducing a thread on this and lots of other more specific areas of the program for you to follow over the next couple of months.
Have you already signed a contract with Lloyds of London?
No they are just one such insurance expert we are looking at.
Wow, 200 projects have already singed up on Acorn Collective platform and plan to start their craudfaunding Q2 Q3 this year. Looks good!
200 projects are a large number, but how big are these projects? because it is important not the amount but the quality of projects
They are really far ranging from large sustainable food projects in Canada to an Australian county music artist funding her first album and a football Academy in Nigeria.
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
I have a very importan question for the team. Is Benny Team member? And what kinde of work he do
Benny for CEO!
What will happen to unsold tokens? Will they be burned? If the project will collect soft cap, will ICO be held in the summer or later?
See answers above 😊
What must I do to start my project on Acorn platform? As I understand your platform use blockchain to help people start their own business or social initiatives from real sector, doesn't it?
Our platform will follow the Kickstarter model of reward crowdfunding except our will be completely free, available in almost any country and accepting of almost any legal project. So whether it’s the latest tech startup in silicon valley or a community project in Vietnam all our welcome on our platform. Funding a project on the platform will be very straightforward, you can even pre-register on our site right now !
Are there any agreements with the first projects? Who will be the first to collect money on this site? Early supporters among the founders of projects there?
The people who have signed up already will most likely be the first to use the platform, some of whom have been early contributors to us as well!
