I like the idea but what happens once the ICO is over and they do an exit scam 2 days later?
I mean it's pretty easy to fake that there is work done during a 1 or 2 week ico...
Now this is a question that we have spent a lot of time thinking through at the very beginning of the project. We have come up with a two-point solution:
commitments check and
longer period.
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Commitments checkThroughout the first stage of our communication with the ICO Project team we will establish a strict list of commitments that they make to their target audience and our Clients. The main acceptance criteria will be the clarity of verification of these commitments. Both our clients and we as a team need to be able to confirm real progress in the project - proven exposure to the community, pilots, MVPs, real traceable progress (such as real code for IT projects), etc. This way we want to zero out the phantom projects.
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Long periodWe do not consider projects that are planning a several-week ICO to be perspective. There is only so much that can be done in a 2-week period. Our goal is to provide our clients with a way to minimise their risks. For this reason we will only be considering ICO projects for integration that last at least several months. Over this period of time the Investor will have enough time to fully familiarise themselves with the project, get in touch with the project representatives if necessary and observe the progress made by the project team.