i isteresting this projec;
The Power Ledger Ecosystem supports a growing number of energy trading applications. Some of the key classes of applications are listed below while the full list is available in our white paper, with some already operational, and others in advanced conceptual design or in development.
Yes a good idea. But the so called financial experts organising the ICO are not competent. It's possible to work in finance for years and still be incompetent when you stray just even a little outside your field.
That is what happened here. They got greedy. they heard about big raisings in ICO's. They didn't follow what has been happening and deluded themsleves that they could raise a big amoumt with no hard cap. Fools.
A greedy fool looks at this space and says ..."wow Xtoken raised a lot with not cap...maybe we can do that". Someone who actually had the slightest clue what has happened would have said ..."no hard cap was very controversial and the crypto community now views them very poorly...lets have hard cap"
Yes uncapped sales are generally seen as a bit of a no-no but the standards for best practice icos are evolving very quickly, and I think a lot of projects are struggling with striking a balance between offering a token structure which encourages investment and supports the backers, BUT also one that gives everyone who wants to contribute an opportunity to do so without being disappointed.
It is an unusual crowdsale structure, a new attempt at an innovation to try and strike that balance. Blending capped and uncapped elements in a 2 stage sale was an interesting thing to try and I still think in a more positive market it could have merit.
no doubt people will learn from it and debate the pros and cons just like any other. I think it's way too harsh to say it was all about greed. I'm inclined to give them the benefit of the doubt.
the success of the project will ultimately be much more strongly driven by how well the team understands their product area (energy and markets) - much more so than best practice token sales. I still think on the strength of the idea, proven trials, and team's expertise this can prove a winner that will eventually dwarf the presale and likely mainsail price.
