Topic: Ignis Token Sale started with a booom (Read 361 times)
what really happened ?
A singe account bought the first batch.
after reading the nxt-forum i sold the rest of my NXT. i won't take part in this ICO.
https://nxtforum.org/general-discussion/ignis-token-sale-progress/
after reading the nxt-forum i sold the rest of my NXT. i won't take part in this ICO.
https://nxtforum.org/general-discussion/ignis-token-sale-progress/
Quote
Dear NXT community members, we have analysed the first buy in the IGNIS ICO earlier and we want to report our findings to you.
We believe he had a bot which listens to unconfirmed transactions, so when the buyer saw our approval transaction to our phased offer he quickly approved his phased buy either manually or automatically.
Since the matching of the offer and the buy occurred in the same block, users using the wallet UI did not even get a chance to see the offer.
There is no way we can block accounts from doing this. Buyers can distribute their funds to other accounts, or already have them set up, as well as other users who have already planned this and don't have their accounts known.
We understand that this is upsetting to users, and it is one reason why we have multiple rounds; we cannot control this in a decentralized ecosystem. The IGNIS sold this morning represents 1% of all the funds available in the Token Sale.
Until August 10th UTC, there will be 11 more opportunities to buy at the price of 0.4 NXT and starting from August 26th, 80 M will be available, though at the price of 0.55 NXT.
After these rounds are completed, still less than a third of all IGNIS to be sold will have been sold.
I'm here to answer any questions, but please keep on topic and try to stick to the facts.
We believe he had a bot which listens to unconfirmed transactions, so when the buyer saw our approval transaction to our phased offer he quickly approved his phased buy either manually or automatically.
Since the matching of the offer and the buy occurred in the same block, users using the wallet UI did not even get a chance to see the offer.
There is no way we can block accounts from doing this. Buyers can distribute their funds to other accounts, or already have them set up, as well as other users who have already planned this and don't have their accounts known.
We understand that this is upsetting to users, and it is one reason why we have multiple rounds; we cannot control this in a decentralized ecosystem. The IGNIS sold this morning represents 1% of all the funds available in the Token Sale.
Until August 10th UTC, there will be 11 more opportunities to buy at the price of 0.4 NXT and starting from August 26th, 80 M will be available, though at the price of 0.55 NXT.
After these rounds are completed, still less than a third of all IGNIS to be sold will have been sold.
I'm here to answer any questions, but please keep on topic and try to stick to the facts.
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