The Monaco Team and TokenMarket have crossed the line with adding additional Smart Contracts to the end of the ICO to take in more cash.
The original contract ended at about 17 minutes before the Website Timer.
The Team and Token Market lied to investors and said it was a "Technical Glitch" on the website.
The Monaco Team and Token Market issued another Smart Contract and restarted the ICO to get more investor funds that were trying to make the minimal Eth investment needed to obtain a Black Card
I think the original investors should have the option to have their funds refunded as we were not informed of a second contract in the original contract. I would guess that altering the terms of a contract without notifying investors is illegal in most places. I know it would be a problem in the US where several members of Token Market reside.
If the Monaco Team is a stand up Team they will see their mistake and try to right it.
I have tried communicating with both TokenMarket and Kris from Monaco but the results were less than satisfying.
The original contract ended at about 17 minutes before the Website Timer.
The Team and Token Market lied to investors and said it was a "Technical Glitch" on the website.
The Monaco Team and Token Market issued another Smart Contract and restarted the ICO to get more investor funds that were trying to make the minimal Eth investment needed to obtain a Black Card
I think the original investors should have the option to have their funds refunded as we were not informed of a second contract in the original contract. I would guess that altering the terms of a contract without notifying investors is illegal in most places. I know it would be a problem in the US where several members of Token Market reside.
If the Monaco Team is a stand up Team they will see their mistake and try to right it.
I have tried communicating with both TokenMarket and Kris from Monaco but the results were less than satisfying.
The reason for the mistakes and oversight is because they simply rushed the project to beat their Competitor Ten-X. Funny thing is this project raised 72,000 Eth over 30 days and the Ten-X project raised 100,000 ETh in 2 days in their Pre-Sale alone and the ICO is not until next week.
What it shows is that the Monaco Team has been reckless in handling the investors $25 million and rushed the project for fear of missing out.
I'm Kris - the founder of Monaco. Just opened an account on Bitcointalk to answer all the questions you may have regarding our company and the token sale.
We'll be posting a thread shortly...
In terms of addressing the single most common question: why only 1 day notice. It's actually pretty simple. The single thing that pushed us to launch ahead of our original July schedule was a competitor running towards an ICO with a 90% same value proposition (FX+crypto). Our CFO was at an event at VISA Innovation Centre in Singapore on 11th of May, where he ran into another founder, who basically told him what they're working on and that their ICO is going to launch in June. We made a judgement call to finish working on our ICO within a week and launch, then spend the next 30 days to gradually build exposure and increase our brand awareness, so everyone has plenty of time to get to know us and do their due diligence.
Kris"
We'll be posting a thread shortly...
In terms of addressing the single most common question: why only 1 day notice. It's actually pretty simple. The single thing that pushed us to launch ahead of our original July schedule was a competitor running towards an ICO with a 90% same value proposition (FX+crypto). Our CFO was at an event at VISA Innovation Centre in Singapore on 11th of May, where he ran into another founder, who basically told him what they're working on and that their ICO is going to launch in June. We made a judgement call to finish working on our ICO within a week and launch, then spend the next 30 days to gradually build exposure and increase our brand awareness, so everyone has plenty of time to get to know us and do their due diligence.
Kris"
Pathetic behaviour from the Monaco team during the ICO and it still continue on even today. Over a year after the ICO still no card
