In some cases where a token price crashes soon after listing on the Exchange, the blames has over time been attributed to the bounty hunters and sometimes to early investors that received certain bonuses.
Do you think 40% bonus for early investors is too much and capable of crashing token price?
The 40% bonus is not a small amount compared to what is given to campaign participants who work for 2 to 3 months, even more. Most projects only provide 2 to 5% of the total supply for campaign costs.
Although this is often referred to as a bounty, or bounty hunter, but precisely is the cost of the worker. If a 40% bonus circulates in the exchange, it will cause the token price to down. But this is not a problem, and I think this is a natural thing. But there are projects that sell tokens of the remaining IEO or ICO after listing to the exchange. This makes the price of tokens drop and will harm investors.