I like a steady increase on price per share during the pre-sale, like P_n=P_n-1^r , where each subsequent share price P_n is a fractional (or percentage) increase over the previous share price P_n-1. I'd prefer that shares may be resold at any time on the open market.

There should be a board of elected directors to disburse funds to pay for development, marketing, and other costs. Voting should be PoS with stakeholder designated proxy as a default if not overridden on a particular vote by the stakeholder. Proxies may be chained or forwarded to other proxies. The presale may be terminated with advance public notice by a majority vote of the stakeholders, or run for a set time or to a set limit of total investment.

Before the pre-sale launches, there should be a short pre-launch sale where everyone can invest and be awarded shares proportional to investment, maybe one week. The share price is equal to what it would be if the same amount of total investment were made to reach that point according to the power law used for pre-sale.

A matching pool of development shares should be created to fund development in some proportion of the pre-sale shares sold, to be used later as the initial funding is used.

I would leave it to the community to agree on the actual numbers used in the fractional price per share increase, the proportion of development shares, the amount to be raised, the length of the pre-launch sale, and length of the pre-sale. Here, launch means start of pre-sale.

This is similar to conventional start-up funding except that there is a continuous ramp in share price as value increases and risk decreases instead of discrete jumps in share price at different funding rounds. Also, the opportunity for the general public to enter at the seed stage is new.

The term IPO is not really accurate since these pre-sales are actually seed funding.