Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Cerberus – ICO insurance platform
by
holydarkness
on 12/03/2019, 21:16:01 UTC
Regarding third party NDA, yes it is unlikely indeed, but it doesn't mean it's impossible. There still will some probability it'll happen. So what'll be your solution?

And regarding privacy, it's actually not a point that I asked, but your explanation sparked a curiosity on my mind, suppose a project require their investors to do kyc in the middle of their ICO, where they were not asking this at thr stsrt, will the investor allowed to leave with all their funds?

As we have explained before, If during the ICO integration our partner is forced to introduce any additional privacy rules, we will carry out the necessary changes to the list of commitments, inform our clients of the update and in case of NDA breach come up with some other kind of actions verification. After all, the investor should be notified by the ICO team of integration with our platform and act accordingly.

Based on your second question, you have not quite grasped the idea of our project. Let us go through once again. If our Clients face any kind of condition that does not meet their expectations/acceptance criteria(being that a newly introduced KYC, that they for some reason want to avoid, or any other reason), they are free to withdraw the invested money and un-hold the purchased tokens.

To avoid confusion and focusing more on the topic, I'd like to keep the second topic away for now and discuss more on the first one. If I may give an example,

ABCoin is a breakthrough project on medical sector that try to achieve healthier life. They requested ICO from your service, and managed to collect 30% of their hard-cap from the ICO. However, at the same time, private investors also interested on their project, amd fund them with something worth 65% of the hard-cap. And as project goes by during the funding, ABCoin developed so much that now they have an elixir for immortality. However, this needs to be kept hidden as the private investors don't want each of their competitors to know they're on the lead of something. Thus, an NDA where they may not give updates about their development or even date of token unlock until the product is finalized, even to your team. Which lead us to a situation where:

1. iCO investors only know that the softcap is reached and project should be successful, but their token is still locked until god-know-when.
2. ABCoin can only give "please wait for update, we will announce once available.
3. Your team only got a slightly better info about update as in "we're in the middle of something big with big companies. Please wait."

On this situation, without knowing that ABCoin is in the middle of something big, and there already 1 year passed since their presale event, most people will assume it is a scam, even your team will mostly think it is, due to the long stretch and intense silence, although in fact, it was not and it was truly a big project. Yet the stretch made ICO investors demand to declare the project as scam and their funds liquidated.