Re: [ANN ICO+Bounty] [REA] REALISTO - Real Estate Investing For Everyone, Everywhere
Thank you a lot for your responses! As always you didn't disappointed me 
It is great that you explained that issue, although I strongly think that you should put it in some clearly visible place to avoid confusion.
I hope I am not becoming annoying. However I have few new questions to you I like to have a clear view on situation:
1. Is there any minimal budget you are aiming to obtain during ICO as whole? If so, what will happen with ICO find if you won't reach this minimal cap?
2. As you said. You have decided to scale up REA tokens in relation to ETH (so 1ETH = 330 REA). Will that happen as well with Bounty Campaign rewards? I believe it is only fair to do that as well.
3. On your token pre-sales website it is stated that currently obtained founds are 500k $. It has a disclaimer that it includes FIAT contributions. Could you give more details about that issue? What are Fiat contributions? I do not believe to see anything mentioned about it before. Do you have some external investor (company?)? Is it possible to know more?
4. In relation to previous question. I made some calculation and current ETH and BTC investments are responsible of around 110 000 of REA tokens. However, there are around 660 000 REA tokens created. it means that 550 000 REA tokens were created other way.
I believe they were created by FIAT contributions with this transaction:
https://etherscan.io/tx/0xd446f653870393100c865d89cdf8ae05d5141ce3a1277a28d52b7641d2804dc9
Can you explain us what happen in this transaction. Were this 500 000 REA tokens came from?
5. In relation to question 4. I see on your github that your contract has function:
function grant_token_from_offchain(address _toAddr, uint _nTokens, string _ref) public onlyRobot {
require ( (campaignState == 2)
||(campaignState == 1));
do_grant_tokens(_toAddr, _nTokens);
TokenGranted(_toAddr, _nTokens, _ref);
}
I find it slightly dengerous that there is a function which can created unlimited number of tokens without providing ETH to contract. What are the guarantees that it won't be misused or hacked?
6. Last but not least. Please verify and publish a source code of your smart contracts on etherscan (including token pre-sales smart contract). One of the most important things about Blockchain is full transparency. Currently, by not publishing and veryfing your code on etherscan you make yourself look less legit as a company. Please take this seriously into consideration, full transparency and view into your code for investors is crucial. It is all blockchain is about!
Thank you in advance for your answers!
Best Regards!
It is great that you explained that issue, although I strongly think that you should put it in some clearly visible place to avoid confusion.
I hope I am not becoming annoying. However I have few new questions to you
I like to have a clear view on situation:1. Is there any minimal budget you are aiming to obtain during ICO as whole? If so, what will happen with ICO find if you won't reach this minimal cap?
2. As you said. You have decided to scale up REA tokens in relation to ETH (so 1ETH = 330 REA). Will that happen as well with Bounty Campaign rewards? I believe it is only fair to do that as well.
3. On your token pre-sales website it is stated that currently obtained founds are 500k $. It has a disclaimer that it includes FIAT contributions. Could you give more details about that issue? What are Fiat contributions? I do not believe to see anything mentioned about it before. Do you have some external investor (company?)? Is it possible to know more?
4. In relation to previous question. I made some calculation and current ETH and BTC investments are responsible of around 110 000 of REA tokens. However, there are around 660 000 REA tokens created. it means that 550 000 REA tokens were created other way.
I believe they were created by FIAT contributions with this transaction:
https://etherscan.io/tx/0xd446f653870393100c865d89cdf8ae05d5141ce3a1277a28d52b7641d2804dc9
Can you explain us what happen in this transaction. Were this 500 000 REA tokens came from?
5. In relation to question 4. I see on your github that your contract has function:
function grant_token_from_offchain(address _toAddr, uint _nTokens, string _ref) public onlyRobot {
require ( (campaignState == 2)
||(campaignState == 1));
do_grant_tokens(_toAddr, _nTokens);
TokenGranted(_toAddr, _nTokens, _ref);
}
I find it slightly dengerous that there is a function which can created unlimited number of tokens without providing ETH to contract. What are the guarantees that it won't be misused or hacked?
6. Last but not least. Please verify and publish a source code of your smart contracts on etherscan (including token pre-sales smart contract). One of the most important things about Blockchain is full transparency. Currently, by not publishing and veryfing your code on etherscan you make yourself look less legit as a company. Please take this seriously into consideration, full transparency and view into your code for investors is crucial. It is all blockchain is about!
Thank you in advance for your answers!
Best Regards!
Good Evening,
thank you for your questions, as always we will try to answer them all to the best of our intentions.
1. As we stated earlier our budget is indeed very flexible since we are not an ICO trying to fund an idea but rather a running and successful company trying to fund the expansion into a new dimension (a blockchain based platform for real estate project tokenization).
Because we don´t need to spend the funds we collect in the ICO on setting up a company and paying experts to tell us what to do to become profitable, we can work with a smaller budget as well as with a big one.
As in any business, growth can happen faster and more easily if you don´t have to cut back on new employees as well as other expenses so we will grow a lot quicker a lot bigger with more funds raised, especially considering that we´ll invest 90% of the funds into real estate (using leverage) thus more funds equal more real estate equals higher returns for tokenholders.
2. We upped the Ratio of REA tokens to ETH because the ETH exchange rate is based on EUR/USD and we do need FIAT money to buy properties,
since the actual value of the REA tokens will be based on the Portfolio of real estate which we will acquire and manage after the ICO (and the demand for the platform to be built) we feel it is correct to keep the Bounty token distribution the way it is currently - since those tokens will be worth more than regular tokens of a non asset backed ICO.
On that note, we are very much looking foward to your contibution to the bounty campaign ( the polish translation).
3.4.5.
Indeed we were approached by an Investor who wanted to Invest into the ICO with Fiat (Euro) currency instead of ETH / BTC, since every enlargement of our funds is benificial to every REA tokenholder (just as stated in the whitepaper) we agreed to accepting this contribution and treated it like a regular ETH/BTC contribution.
Regarding question Nr. 5 indeed this is the blockchain part of the FIAT transaction we received.
Regarding your feeling about the quoted code from github, since we do accept BTC as contribution there has to be a way of generating tokens on the Ethereum Network with matching a direct contribution to it, it is the same procedure every ICO employs if the accept more than one (the native) currency in the ICO and thanks to the blockchain you can rest assured that every transaction can be tracked and that the amount of trust you will have to put into us not abusing this function (which would ruin the asset backed nature of our token, so it would be no option for us) is as small as possible.
In Terms of gurantees you can be sure it will only be used to credit BTC transactions and large FIAT contributions, regarding hacking attempts we cant disclose to much about our security to not make us vulnerable but we can say there have been more than 45 attempts at hacking us, none of which were successful. For us as the founders of REALISTO it would make no sense to generate free tokens since those would not be asset backed and thus be worthless and you can be sure it would be next to impossible to access this function from the outside.
6. We did publish the full code on github and the audit of our contract is live on the CoinFabrik blog but we will also publish it on Etherscan just to be 100% transparent. Please Note our Pre-Sale and ICO contract are all combined into one.
Have a good night today and we will be available for further questions tomorrow morning
Best wishes