Re: Gnosis - the decentralized prediction market platform and oracle standard
Wow. Can't believe this ICO is finally gonna happen. I've only been waiting 8 months lol
Yes, it been long I've been waiting for the ICO launch, It will be interesting the way the auction thing will go, but some people are of the opinion is going to lead to overvaluation of the platform.
what do you mean with overvaluation about this ?
He means that if the funds are raised to quick and the rate paid per token is sufficiently high the project's market cap will be substantially overvalued and likely crash when the token hits the exchanges.
thats bad situation,, if really happend,,
That will not be the case, the cap is on fund. If the value of token is high ( assuming sold quickly @ 30$/token) then the token issued will be less. so market cap will remain the same ( because ico target cap is 12M) .
Take note though, if indeed the ICO is sold quickly @ $30/token by hitting the 12.5m market cap, the distribution of Token supply will be:
ICO participants: 4.17%
Held by Gnosis team: 95.83%
This makes it a market cap of $300 million. So good luck with that once it hits the exchanges.
Please do refer to the sale schedule for more information.
https://docs.google.com/spreadsheets/u/1/d/1vYjDat8wLd97pEfrdkzOcHd5ZLOlYjpDSkJaTnEDe1E/edit#gid=0