What is the motivation to buy into the IPO?
Early investors that take a big risk only share 2.5% of total coins. (and even the total coins seems to be undefined)
So say even a mildly successful IPO of say 50 coins would mean you get 500,000 coins of a total 1 Billion, 250,000 if 100 etc.... Ok so if its as successful as say NXT then its an 'ok' investment, not amazing but ok. But coins come and go all the time these days, the coin is only an adaption of an another coin. So I would say there is nothing for the early investor here to get excited about. And indeed you could lose money even if the coin is decent.
IPO's must have a big mark up to early investors otherwise there is zero motivation to invest and not just buy once it hits exchanges. The developers need to rethink the IPO amounts..
Are you seriosuly trying to compare NXT's IPO to this or any other IPO for that matter. NXT's initial disctribution comprised around 50 stakeholders who own ALL of NXT. NXT has a few mega-rich investors and the rest are dirt-poor in NXT. Let's think about that logically, if one stakeholder decided to throw in the towel one day and sells all his NXT that would bring the market crashing down to its knees.
The reason you don't see coins which offer full shares to the investors anymore is because those coins are time-bombs as soon as one investors sells the market will come crashing down and soon other initial investors will also panic sell at lower prices bringing the market price down even further. You fail to realize that big returns can still be made through early investments in coins with IPO's less than 5% of the total supply. Investors could purchase low and sell very high and make massive returns.