Will the burning of the token, if not all will be sold during ICO? Thanks for the answer.
Hello dev, you forgot to answer this question because it is really important for many investors. Will you burn the unsold tokens or not? and when?
if you burn coins after entering the exchange then this can raise the value tokens
Thanks Coindest definitely an important question, AUruHM had commented on it earlier in the thread but we should have expanded upon it so thanks for the opportunity to do so. If our token sale exceeds the minimum threshold USD 5M, but we do not reach our target of USD 50M in ETH equivalent, we will consider issuing a second tranche of ACO tokens at a later stage. Once we have attained our funding target, we will disable new minting immediately and will never hold another token sale again.
I believe in your success but 50 million in ETH equivalent is very big amount on nowadays. More and more ICO projects have recently reached $10-20 million.
It means that you will burn the tokens at the last moment?
USD 50 M is a large amount but for us to be a truly global platform it is necessary, it also is inline with amount that existing crowdfunding platforms have raised through traditional means, for example Indiegogo has raised USD 56M through various rounds. Once we hit our target we will not ever to go through any further funding. We will not need to burn any tokens as we will only mint enough inline with our raise.
Thanks for the great answer. I agree 50 million is the amount that will allow the project to exist and prosper for a long time in the current situation with the cryptocurrency. But if on the ICO are not going to be as successful as expected and the next rounds will not bring much fees. Do you have else options how to attract funds after ico?
If our minimum threshold is not reached the contributions from our main token sale will be refunded to all. Contributions from the Pre-Sale phase will not be refunded and will be used
to continue development of our MVP and schedule another coin offering in the future.
If our token sale exceeds the minimum threshold, but we do not reach our target of USD 50M in ETH equivalent, we will consider issuing a second tranche of OAK tokens at a later stage. Once we have attained our funding target, we will disable new minting immediately and will never hold another token sale again. In this case, we will speak with the community of token holders to see which they think is going to be the most viable way forward another raise after the MVP or just create the business from where we are. This will be fairly straightforward at, say $7m we would beuild the MVP, get traction and do a second raise. At something like $30m+ we would move forward without any raise and freeze the token number. In between those sorts of figures we would see what the token holders want to do.
You are a again pleases me with the detailed answer) Now everything is clear. it remains to wait for the end of fees to go back to this issue and again discuss. But thanks to the high ratings the problems with fees should not arise