Crowdsale for bancor ,can someone reply with the website?
https://bancor.network/I am confused about what the hell just happened in this ICO / TGE. There was a hidden cap. They changed / raised the hidden cap DURING THE EXPECTED ONLY HOUR. People donated after the hidden cap was hit.
What was the final hidden cap? How many total ETH were sent to the contract? The people who contributed after the hidden cap was hit, they didn't get tokens, right? But the eth they donated is still locked up in a 20% / 80% contract split for a year? ELI5, please.
The cap was not changed/raised, or at least there is no discernible proof that it was as it was hidden until 80% was reached. The first hour was the minimum ICO period, not the expected ICO period.
The minimum time for the ICO to run was increased by 2 hours to compensate for network issues during most of the first hour. A good move by Bancor who were having to make a quick decision.
[Even if the cap were hit within the first hour, the ICO would have continued until that minimum period elapsed. The fact that they increased the minimum time seems to have displeased some people who have misunderstood *
cough Crypt0dude
cough*, but imagine the genuine displeasure (had the minimum time not been extended) by the masses who wanted to invest but couldn't due to the network overload.]
Everybody who contributed Eth will have received BNT to their wallets.
The cap was 250,000Eth and the results of the ICO can be seen on their website:
https://bancor.network/fundraiser