Raising ICO Standards - page 3. | Bitcointalksearch.org

mamaya

full member

Activity: 168

Merit: 100

Quote from: viniciusfbm on July 26, 2017, 08:17:47 PM

Hello guys, we are currently working in a smart contract powered pension fund platform, and studied how we could improve our ICO.

What do you think about using the following rules, do you have any suggestion to improve it? We will publish it on github and if community support it, it could become a standard for next ones.

Main Points:

ETH Locked through smart-contract, the funds will gradually become available based on Auctus business budget plan.
Smart Contract source will be published well in advance, this will allow potential investors to audit the contract.
We will publish our crowdsale contract address in advance, minus the last 5 digits, so there is no chance of funds being sent to an incorrect address.
Team will have 2 years vesting with 6 months cliff.

I see all these points except for the first one (and to some extent the 3rd one) already being used by the majority of good projects and is generally the kind of factors I look into when I decide if I should invest in an ICO.

Darknight31

full member

Activity: 209

Merit: 100

Quote from: carlisle1 on July 26, 2017, 09:21:43 PM

Quote from: ranih on July 26, 2017, 08:38:01 PM

I think the last point (the vesting) is very important. It makes the team more committed.

The biggest drawback of the first point is unexpected events. What happens in case you need more funds than planned?

the team should be committed in this project and they should be always hearing out opinions coming from the community I think give and take between dev and the supporters will make this project successful I'm sure the idea will be supported if the team will be more serious to get in touch with the investors.

With a successful ICO project comes with a great people behind it. For sure an ICO is gonna be successful if the team behind it is passionate and well-connected to the project. If people wanted to invest in such ICO project they need to raise standards especially about the projecr and the team behind, if it is legit, safe, and if the people are willing to answer one's uneding questions about the project given.

terry6419

newbie

Activity: 12

Merit: 0

I quick cash flow projection and a timeline demonstrates you have thought through your CASH burn rate.

Emadm

member

Activity: 83

Merit: 10

A simple ethical suggestion is to just raise the amount you need to hit the next milestone and raise more at that point.

If you're a product versus a mission this makes more sense (missions in foundations typically look to maximise funding of the foundations).

Have a treasury plan if you raise more than you need.

geotom

member

Activity: 66

Merit: 10

I've been thinking about some ideas around how to create an ethical ico for a while although I was coming from a slightly different angle.

Top of the list was the idea of having a smart contract that is programmed to release funds along a schedule, based upon project milestones being achieved. Initially I was thinking that the tokens attached to an ICO could vote to delay/speed up such a schedule (thus empowering investors) but then I wondered if technically this could create issues with the SEC (would token holder's hold technical shares)? Lo and behold we get the annoucement from the SEC this week and I'm having to reformulate ideas. Where are you planning to base your ICO? Switzerland?

rigel

legendary

Activity: 1240

Merit: 1001

Thank God I'm an atheist

I don't think most investors are willing/able to audit your code.

You should instead pay someone indipendent to do it.

bitcoinvestor

hero member

Activity: 812

Merit: 501

You miss one thing, you should make execution of the project in the short future time. There are many ICOs execute their roadmap in the end of 2018 even in 2020. I think the coin will be forgoten or Investors will recognize scam ICOs. It is better to be ready a test net web application before launching ICOs.

viniciusfbm

member

Activity: 167

Merit: 11

Quote from: Beparanf on July 26, 2017, 10:27:15 PM

Quote from: carlisle1 on July 26, 2017, 09:21:43 PM

Quote from: ranih on July 26, 2017, 08:38:01 PM

I think the last point (the vesting) is very important. It makes the team more committed.

The biggest drawback of the first point is unexpected events. What happens in case you need more funds than planned?

the team should be committed in this project and they should be always hearing out opinions coming from the community I think give and take between dev and the supporters will make this project successful I'm sure the idea will be supported if the team will be more serious to get in touch with the investors.

To get investorst trust, the support team cooperation is a must. Whenever I'm investing though it was small amount , i really appreciate whenever there's a team representative who replues on my questions actively. And it will interest more investors to support them if they are approachable.

We invite you to join and interact with us on our post/slack , we really want to build this interaction, even if you are not investor and wan't to follow a project progress closer, feel free to join us: http://slack.auctus.org https://bitcointalksearch.org/topic/--2044504

Beparanf

hero member

Activity: 2996

Merit: 802

Quote from: carlisle1 on July 26, 2017, 09:21:43 PM

Quote from: ranih on July 26, 2017, 08:38:01 PM

I think the last point (the vesting) is very important. It makes the team more committed.

The biggest drawback of the first point is unexpected events. What happens in case you need more funds than planned?

the team should be committed in this project and they should be always hearing out opinions coming from the community I think give and take between dev and the supporters will make this project successful I'm sure the idea will be supported if the team will be more serious to get in touch with the investors.

To get investorst trust, the support team cooperation is a must. Whenever I'm investing though it was small amount , i really appreciate whenever there's a team representative who replues on my questions actively. And it will interest more investors to support them if they are approachable.

carlisle1

hero member

Activity: 2744

Merit: 541

Campaign Management?"Hhampuz" is the Man

Quote from: ranih on July 26, 2017, 08:38:01 PM

I think the last point (the vesting) is very important. It makes the team more committed.

The biggest drawback of the first point is unexpected events. What happens in case you need more funds than planned?

the team should be committed in this project and they should be always hearing out opinions coming from the community I think give and take between dev and the supporters will make this project successful I'm sure the idea will be supported if the team will be more serious to get in touch with the investors.

viniciusfbm

member

Activity: 167

Merit: 11

Quote from: ranih on July 26, 2017, 08:38:01 PM

I think the last point (the vesting) is very important. It makes the team more committed.

The biggest drawback of the first point is unexpected events. What happens in case you need more funds than planned?

We would set a reserve for future stakeholders that could be used to raise more funds in case of excessive devaluation, otherwise, if deemed unnecessary, we would burn it .

ranih

full member

Activity: 168

Merit: 100

Snip - The Future of News on the Blockchain

I think the last point (the vesting) is very important. It makes the team more committed.

The biggest drawback of the first point is unexpected events. What happens in case you need more funds than planned?

viniciusfbm

member

Activity: 167

Merit: 11

Hello guys, we are currently working in a smart contract powered pension fund platform, and studied how we could improve our ICO.

What do you think about using the following rules, do you have any suggestion to improve it? We will publish it on github and if community support it, it could become a standard for next ones.

Main Points:

ETH Locked through smart-contract, the funds will gradually become available based on Auctus business budget plan.
Smart Contract source will be published well in advance, this will allow potential investors to audit the contract.
We will publish our crowdsale contract address in advance, minus the last 5 digits, so there is no chance of funds being sent to an incorrect address.
Team will have 2 years vesting with 6 months cliff.

Topic: Raising ICO Standards - page 3. (Read 2185 times)