Hi everyone,
Just as a reminder, we are providing an escrow for this coin development team. While we are listing the ICO, we are not endorsing this coin or any others on our exchange. Please use your own judgement before trading.
The escrow terms are as follows:
At the end of the ICO, all of the unsold CLD coins get destroyed.
We will verify that coins transfer properly on the block chain using the public wallet source
A public block explorer is available to verify that all coins are accounted for as stated in the ANN
If that all works, we provide the developers access to the ICO account and the BTC after a 3 day escrow period. If any of the conditions fail, we use the ICO funds to buy back and destroy all of the coins.
Richie
There has been some mention of Bittrex using updated requirements in this thread. Is there any truth to that, and if so, what are those requirements? By a lack of mention just now by you, I will assume the ICO requirements are the same as always.
I will also take this opportunity to ask why isn't Bittrex using rules similar to Poloniex, which includes requiring the devs to prove their identity, and no giant lumpsum payouts with strict bookkeeping? The last several ICOs on Bittrex haven't even gotten off the ground for a reason.
The requirements are around delivery mainly. Here is what is sent to any potential ICO participants:
1) We will code review before initially adding the wallet.
2) Then you will transfer the premine IPO coins to us. if there are premined coins that are not part of the ICO, this must be disclosed in your ANN
3) We run the ICO at whatever price you are looking for but we'd recommend a reasonable market cap.
4) After the ICO period ends, if there are remaining coins, we will destroy them and provide you an address to post
5) We will hold your BTC in escrow for 3 days.
a) Transfer coins to verify that the block chain functions properly.
b) You must have a block explorer available.
6) If that all works, we will give you access to the ICO account and the BTC. If any of the conditions fail, we will use the ICO funds to buy back and destroy all of the coins and you will forfeit the escrow fee.
Thanks,
Richie