Yes 1,7 millions is a very good amount, the period is very hard and most of ico projects dont even raised funds. I think even if the soft cap is 5 millions dollars, if in the end its not reached, it could be good if the team decides to continue even with these funds.
I agree with you on that. 1.7 million is not a small amount for because an exchange can start to earn profit from day one.
Its hard for me to say it's many or few 5 mln, but if Ternion team has planned this budget, then most likely they know better where this money will be spent in order for the project to develop normally and follow the roadmap.