Looks like ICO will not be very successful, as we all know first few days are most important, and looks like they already failed.
And here are some points why investors avoiding this ICO.
- Token distribution:
Team 14%, way too much, normal projects gives 5-7%, the team still be on a salary..
Founders 13%??? For what? For an idea token from smschain? Founders will take all profits of a company and want additional 13%? Greedy...
- ICO bonus system is awful for investors. 50/40/35/30.... so the starting price will be price-35%. All who contribute after losing by default.
- Complicated contributing process
Anyway gl with this.
Hi, yes first days were not as successful as we expected, but it does not mean we failed. We still have 1,5 month to go and if we will not reach soft cap, all contributions will be returned.
- Why it is wrong for the team to believe in success of the project? Maybe other projects does not believe in their idea so much? And all they care about is to collect money and not the long-term success of the project. Our team share is vested for 2 years. Founders as well - they will provide additional funds if needed. They take the risk here and I believe it is OK to have a little bonus for the risk.
- it was designed to encourage contributors to join ICO earlier. Plus, first waves are the most important - please check our White paper. Each wave represents what we will do additionally: voice call gateway, watch video ads for tokens, personal data marketplace, in-app purchases and more.
- Do you mean the KYC? We are doing KYC because we don't want all contributions to be frozen when government will knock on our doors. We actually discussed the process with authorities to be 100 percent legit and not to face unnecessary attention from them. We believe that all ICOs that does not have KYC will have to face authorities and explain where the contributions came from.
I will be happy to answer more of your questions
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If a team that much believe the project, they could invest
The point is, that you what to start your business using not your own money, you will be 100% controlling the company, all the profits, but it still not enough for you, and you want additional 30% income, actually while you act like this, it shows that you dont believe your project and want to make money from tokens. Moreover, you have 6% to cover ICO expenses. You trying to start "free" business, with no obligations and get additional 30% for free as well..
Regarding next two points, you just dindt get it. You trying to oppose me, what is good. But dont need to oppose, you need to learn. The results of your ICO shows that you doing something wrong, if you dont get it, you will stay on losing position.