Quote from: skeet on September 30, 2016, 03:28:15 AM

Quote from: MalReynolds on September 30, 2016, 12:05:34 AM

Quote from: BTCSpearo on September 29, 2016, 11:26:34 PM

Quote from: sanchicharro on September 29, 2016, 11:21:26 PM

Ok, time for some maths:

Total invested (so far after closed ICO): 10,254,276.64$ /85,000,000 ICN = 0.1206$

Why are you dividing the total sum raised by 85,000,000? the 15% of ownership that will be retained by the core dev team will come out of the total sum raised as well.

Um, that ain't how it works. The devs agree to mint 100M tokens. The total collected during the ICO pays for only 85M ICN tokens of that 100M total to be distributed among investors. The presumed market cap is bumped up to cover the remaining 15M ICN. So ICONOMI raised $10.25M in their ICO and goes to the exchange with a presumed market cap of $10.25M / 0.85 = $12M. Starting fair price on the exchange is $12M / 100M ICN = 0.12 USD per ICN. With BTC at $605 USD each, the ICN price equivalently is 0.12 / 605 = 0.0002 (approx.) BTC per ICN or 20K satoshi each.

The devs get $10.25M in cash to spend in their operations AND ownership of 15M ICN tokens as their founder reward that is their personal property. Their personal reward is separate from their operating expenses.

I think your explanation somehow contradict the previous blog post regarding ICO bounties. No mention of 15M ICN will go to the founders. Instead 2% (2 million ICN) of 100 million shall be reserve for bounties which means a total of 98 million ICN will be distributed to all ICO investors.

https://medium.com/iconominet/ico-bounties-ea2922888b85#.6dwysf8mk

85MM of genesis block goes to ico investors. The remaining 15MM of genesis block goes to dev team, and dev team takes 2MM out of that to send to bounty people