The idea is great and does have it benefits, I just think it's unfair that the community supports the creation of their platform and other ico's that transverse thru the platform is bleed twice. I can understand 4% of the collected funding but also 4% of the token is little absurd. Sure the price is cheaper than say going thru Kickstarter but kickstarter doesn't ask for a share of the company that utilizes their service. In reality, kick will own a share in every company that utilizes the platform, and I didn't see any mention of sharing dividends with investors on the whitepaper. I might have overlooked it and if so plz let me know. Again am not intentionally kicking up dust, just asking questions that a real investor would be concerned with. Hopefully, an admin can guide me thru their thought process on making certain decisions.
Whitepaper :
"For ICO campaigns, the platform fee will be 4% of collected ETH, and 4% of the campaign's tokens.
In return, we provide from 4 to 8% of the KickCoins (in effect, selling our KickCoins to the campaign creator in exchange for the fee). Those KickCoins will be given to backers, together with the campaign tokens.
For crowdfunding campaigns, we give backers from 4% to 20% of the value of their investment as KickCoins, depending on their reputation on the site (Karma scores). This rate is being taken from exchanges, but will never be less than 0.0005 ETH per KickCoin."
It is good for raising value of Kickcoin but, I think it will be a hurdle for the project owners to have 2 different coins.
To answer this very question about the platfrom "bleeding twice": the platform uses this comission to generate KC tokens to reward backers. So the tokens will not lose the value and grow - making all the KC holders gain profits too. If the ICO is not hosted on KICKICO platform any contibutor gets only projects token, but on KICKICO additional token is given too.
It creates additional incentive for backers to participate in your projects.
For the creators to share 4% of raised funds and 4% in tokens - not unfair at all. This is a really small fee compared to any other competition on the market and fact that there is no cost upfront already makes it fair enough. Second, as mentioned above the comission is not just taken by the platform but it is given to the backers in the form of issuing new KickCoins. Third, the platform of this sort that operates at a global level requires quite a lot of resources for the code development, marketing, support, consulting, law and jurisdiction issues, etc.
We are creating the global platform and we are bond to make it as useful and fair for everyone.
And we specifically mention that KickCoins are not the investment, nor it gives a share in the company. So the questions about sharing dividends are not relevant.
OK, i can comfortably recede on my prior statement after coming to the realization, that Kick might be able to put a clamp on the multitude of scam ICOs that's currently been offered. The price will be worth it, to have a form of regulatory body monitoring this icos in the interest of the investors. So my questions is mean't to inform a peruser that didn't read the whitepaper/ bring up certain points that an investor might deem lacking from the whitepaper?
What minimum requirement is imposed on a company to utilize the platform for an ICO? i.e Github post, Product in beta etc
Will Kick enforce that a company that doesn't met the requirement utilize escrow? and will kick provide escrow in such a case?
Will there be some form of security offered to investors in case a company decides to close shop, post ICO completion?
Finally in a scenario where this platform becomes a huge success and 75-80% of companies ( i know its an exaggerated number, but its a lovely number) utilize this platform to run an ICO, How does kick intend to manage an inflation of kick coins due to the high number of ico backers who received free coins.