Quote from: holydarkness on April 10, 2019, 07:49:54 PM

Quote from: conicoin on April 09, 2019, 04:03:38 AM

Quote from: holydarkness on March 27, 2019, 07:41:06 AM

Understood.

This leads us to the second question, which is from a case I also followed once. It was a blatant scam, IMO, but let's apply this to a legit case.

What's your policy for this case:

ABCoin is a project of medical health, and so on, and so on. After three months long of ICO duration from the four months they planned, they managed to achieve their softcap of 10,000,000 ABC. Somehow, plan changed and they have to comply to KYC, requiring all investors to do it.

Given your policy on such situation, where the investors are allowed to withdraw their funds in case they refuse KYC (which is initially not required), many investors took their funds back, and within the course of one month (which is around the end of ICO) causing the initially collected 10,000,000 ABC to fall to 5,000,000 ABC, which is below the softcap.

Thus, their initially "ABCoin, soft cap reached!" claim now turned south, and some people would consider this as a scam as they revoked their initial "soft cap reached" status which convince them to take interest on the project. While, as we know, they didn't really planned such scenario to happen and scamming people were not their plan from the beginning.

In our opinion this case is very unlikely to happen. But if this happens, the ICO team will have to consider the possibility of losing a part of investors after the implementation of KYC.

Unfortunately, that actually happens. Not sure how many projects had these kinds of end, but I was once followed a project that claimed to reach soft cap around the middle of their ICO, and by the end of it, they revise their announcement, saying that many investors promised to invest but never actually investing. And, as the statement of softcap was based on the said "agreement", the soft cap "failed" to be reached.

Up to this point, I am not sure if that unfortunate event really happened to them or that was just an excuse and they were planning to run scam from the beginning. Also didn't know if they ever returned the funds of investors who actually send their investment.

Anyway, back to your case, what'll be to the investors who decide to stay, then?

As you stated the KYC procedure to be obligatory, so investors who decide to stay will have go through it. If necessary we can also assist in organizing this process through our platform.