The evidence is that uncapped offerings are bad for investors but possibly good for "management".
So what did they do?
The offered investors something that was pretty much guaranteed to be bad for them, whilst giving themselves the possibility of lining their own pockets by raising a lot. Why?
Everyone know that uncapped sales have not worked well for investors, so we must ask why did they do it?
Ironically they could end up raising so little that this coin ends up very cheap.
Our whitepaper made clear what we were raising money for and how we planned to split the proceeds of the TGE for our projects and strategies going forward. Power Ledger's plans are based on funding from a soft-cap for our public sale of USD $15m. This, combined with the pre-sale funds we announced of AUD17m (USD15m) will enable Power Ledger to fully execute on its plans detailed in the whitepaper.
We also want to share details of our soft cap with you, clarifying for you, the community and our supporters, that any proceeds beyond this soft cap of USD15m in the Main Sale will be used towards renewable energy asset projects in low income communities and developing countries.