Post
Topic
Board Tokens (Altcoins)
Re: [ANN] Bancor | Protocol for Smart-tokens, solving the liquidity problem
by
Qiuyue201
on 05/06/2017, 16:56:08 UTC
Regarding ICO terms

What? Is this a joke?

Basically, we are getting an ICO that is not capped (technically during the first hour people can send 200 million or 300 million or 500 million USD which they will probably do, and the ICO will continue regardless). Aragon ICO collected 25 million in one minute, BAT even more, so Bancor can collect 900 million without a problem, good for developers and bounty hunters, not so good for investors.

Also initial CRR only 10%? With that amount collected (or any amount collected) you could definitely pick better CRR. Unless you are afraid that people will start dumping immediately. (Remember, that you can give your Bancor token back but for lower price if everyone starts selling and exchage is not required for that).

Also, why are you collecting only ETH? You should collect other ERC20 tokens too. What about collecting Wings tokens, you have partnership with them? And what about Aragon, which is one of the biggest crypto projects? Or any other ERC20 tokens? You are aiming to have token changers without those tokens?

Seriously, this is greed at it's finest. I really liked the project and now I am not cool with those terms. Change your mind and alter those terms:

- create hard cap at 100 million or lower
- accept other tokens (perhaps 10 million USD in various tokens that will sum up to 100 million)
- change the CRR


I think that most of us were expecting capping it high, at 100 million or even higher, but time capping the ICO is same as not capping it at all.