Re: [ANN] [ICO]COINDEX – CNDX30 Top30 Cryptocurrencies and Cryptoassets market INDEX
Dear Dev(s),
I was skimming the Whitepaper but couldn´t find the answer to my question:
Will you have an minimum amount you want to raise in the token sales?
e.g. what happens if you fail to raise this (if existing) min. amount?
I was skimming the Whitepaper but couldn´t find the answer to my question:
Will you have an minimum amount you want to raise in the token sales?
e.g. what happens if you fail to raise this (if existing) min. amount?
I would really like to know this too
If there is any goal remaining tokens will be burned?
All the unsold tokens will go to the DAO managed stability reserve. Remember that CNDX price should ALWAYS be equivalent (+/- 10%) to the Coindex30 index level.
If the CNDX price goes above the target CNDX tokens will be sell at a lower price in order to regulate the market.
In the oposite case, if the price is going below the target, the reserve will buy CNDX in order to raise the price.
All market intervention decisions will be announced in the offical website.
Dear Dev.,
so far so clear, but I would like to know something different...
Will you have an minimum amount you want to raise in the token sales?
e.g. what happens if you fail to raise this (if existing) min. amount?
Kind regards
Scheede
Hi Scheede.
As there is a 1 to 0.8 proportion (betwen the amount of tokens sold and the size of the reserve because 80% of the eth, btc and ltc raised will go to it) the market intervention policies we have estipulated should work no matter the amount of tokens sold. Of course, the more tokens sold and the bigger the reserve the better it will work. So, there is not a minimum amount.