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/fundraiserFriend, you and I have yet to converge on the same reality.
https://www.ethnews.com/bancor-token-offering-breaks-140-million"On Bancor's end, via Twitter, the company reported that a massive attack coinciding with the token offering affected its website and application. As a result, the mechanism which the token offering was operating under, a hidden cap, became stuck with another transaction and
failed to trigger. In light of the network difficulties, Bancor opted to extend the minimum time for the token offering by approximately three hours, or until the second hidden cap was met, whereupon the offering would end.
When the second hidden cap was hit, Bancor had raised
396,720 Ether and sold 79.3 million BNTs, valued at the time of the offering at more than $142 million."