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Hey folks, Sorry i've not been here to respond to your questions for a while we've been really busy with the pre-sale wrap up and analysis. We're going to be hiring a new member of the team to help with the community so you good people don't have to wait so long for your answers! It's been a great few days here at Acorn and we've got some great plans in place for the main ICO. "Our smart contract only generates tokens when we receive ETH so there are no unsold tokens generated which means none need to be burnt."
First time hear about such a. What about tokens for the team? how will they be generated? Or tokens for other expenses? can for marketing etc.
The contract will generate an additional 16.66% of what ever is raised that will be time locked (half for 1 year half for two) for the team. Other expenses will be paid using Eth or fiat converted from the operations fund and revenue generating mechanisms. Good day
please specify How are you going to provide assistance to projects that are supporting?
the nature of assistance in legal support, in advertising, in marketing, in the development of technical applications, is written in your WP
will you have additional specialists?
Good Day! Yes, the support services will be provided by a team of experts that will form a partnership with project founders for specific campaigns. We say partnership because we strive to keep our interests aligned by only getting paid if a projects is successful. Have you considered DAICO in implementing the project?
It’s a great initiative but we probably won’t be implementing it Can anyone say any specific requirements for fund-raising projects will be presented? If so, which ones? I'm interested in the system of evaluation of projects before you start collecting how will you deal with deception and scam? This is a fairly "thin" moment - so I want to clarify it in advance. The fact is that there are already a number of projects that need to be collected and ready to present themselves - a question when it will be possible and again - under what conditions?  ? As with ICOs people backing any project on any platform should always conduct their own research before contributing money towards it. Unfortunately in life there will always be those who will seek to decieve others which is why people must use their own common sense before parting wth their money. We have a range of review steps to counter this. The first is simply moderation of the project, which would have to pass a legal test. The second is whether it is ethical, for which we have an ethics board. The third is the backer community who – as stated above – will scrutinise before they invest. There are other flags we will monitor such as how they interact with their community and conduct their raise. Overall fraud in crowdfunding is actually quite low – the study quoted in the whitepaper is less the 5%, but we have as many mechanisms as possible in place to filter out bad actors And what about the above by WP insurance ? Whether insurance will be available a priori? Or risks for individual projects will not be insured. Insurance is a specialist area, so we’ll be working with an insurer such as Lloyds of London or another to develop insurance packages. These will largely be off the shelf but there will be some circumstances where we may need to asses a particular project. Once the project is fully operational, many ideas and other meaningful and useful projects will be realized in the world! Think about buying tokens. You not only get promising profits from speculation and accumulation during storage - you get the opportunity to join the process of creating a network of meaningful initiatives for people that will bring a lot of good and good. What better way to spend your money with pleasure)
Yeah, can't argue with that! Project are a good and positive)) How many ideas around the world can be realized? I think that hundreds and thousands of projects will get a chance to live thanks to Acorn. Is this whole platform a copy of KICKICO or is it something completely unique? Maybe someone can quickly point out the major differences. Thanks! KICKICO is just for ICOs we are a reward crowdfunding platform like Kickstarter except ours is free, accepts any project and is available in any country. So whether it’s the latest tech project in Silicon Valley or a community farm project in Tanzania we’re the platform for that. In fact one of the few projects we won’t support are ICOs On your website as a partner is indicated European Crowdfunding Network.Tell us, please, on which issues you are working on and what benefits this interaction brings.Do you plan to develop your own mobile application? This is very relevant and important in our time.
ECN provide a range of expertise and training on crowdfunding, so we’re using the partnership to inform our own training packages and best practice in crowdfunding. Also, they are putting together an ICO and blockchain working group that we’re just speaking to them now about being a part of. We want to use the partnership with a leading organisation to be a closer part of the crowdfunding community, develop and share best practice and influence crowdfunding within blockchain. Mobile is highly important to us as that is how many people (particularly those in developing countires) access the internet, so having our platform mobile friendly is a key focus. Softcap includes pre-sale ?
Whitepaper says Main ICO Softcap 3,500,000 OAK (~5M), that suggest no pre-sale included, is that right ?
The soft cap in the main ICO is there because it’s the minimum needed to approach the project. The pre-sale cap is different because some of those proceeds will be used to ramp up to the main ICO. Whatever we don’t use in this phase will count toward the main ICO cap, so it will contribute but isn’t the same. When would the bounty campaign end?
Our bounty campaign has now ended - OFFICIAL ANNOUNCEMENT -
We’re extending the pre-sale!
We’ve had a whole crop of new Acorns over the weekend, and we’re still processing KYC, we’re also talking to some groups who – as you can see from this morning – have started to join the sale, so we’re extending the sale by 48 hours.
The new deadline is 12pm GMT on Wednesday.
We’re really excited about a great weekend here at OAK Towers, so keep your eyes on the channel as we push to close out the sale in the next couple of days!
Could you please give a good reason for the extension of pre-sale. I think part of the community will be dissatisfied with this decision. We received a large number of KYC applications in the days leading up to the end of the pre-sale many of which required manual approval which took some time. We were also in conversation with a number of groups who wished to contribute which is why we took the decision to extend by 48 hours, as this lead to us selling out the pre-sale we believe it was the right thing to do. Not bad. I wonder if there are or will be reviews in other languages? I'm sure many people need this. We are keen to engage as many people as possible and are currently looking a putting lots of our content into multiple languages. I would like to know - will there be any restriction on project fees? Ie. some kind of lid installed by the Acorn project itself? If it really is, what kind? After all, there are projects that require relatively small amounts of money, but there are those that have 1 million dollars will not be enough. How such a question will be solved by the team? We will welcome all projects great or small 😊 Hi.
Question:
In what way will the seriousness of the project that will seek investment be checked?
Based on what principles will be tested for the project sponsor?
All projects submitted will be subject to manual review if the project is illegal under EU law it will not be accepted. Any ethically questionable projects will be put to our ethics board who will review it. If they can’t decide then the community will vote on it to decide whether it should be allowed on the platform. There will always be bad actors unfortunately but we will leave it the community on the platform to only support those projects they feel deserve it. Hi.
Question:
In what way will the seriousness of the project that will seek investment be checked?
Based on what principles will be tested for the project sponsor?
In white paper it is written that the project should not be prohibited legislative, should not violate ethical norms. Everything else I think is acceptable. Simply if the project is not worth it, it will not collect money. And who will determine this? With the legislation more understandable. But who will determine the ethical norms? They are different in different countries. Yes and not only in countries. Even have different people they can be different. Then it may turn out that this rule will be used by the project management at its discretion? Our ethics board will comprise of people from around the world of all genders, nationalities,ages and social-economic backgrounds to allow for all the variations of ethical views from all cultures Time to rename this topic isn't it? Pre-sale successfully over! My congratulations to Acorn Collective! Great work.
Yeah, I think so too. Time to rename but maybe they are still preparing for the main ICO. 😊😊 Again, congrats to the success!! Indeed and thank you! Remind me when the main sale begins? Will the pause be long? It could be at once, on the wave of success.
Details to be announced very shortly! The date of the next ico stage is already known when will it begin? I would like to know if you will still sell tokens with discount? If so at what discount?
Dates coming soon and the tokens will be sold at their full prices of 1 ETH: 800 OAK Dear Acorn Collective! What is your real goal for main ICO? Do you have any comments? For now You got a lot of funds so you have good amount of money to aggressive marketing ....
$50M USD is our target and with our pre-sale funds we will indeed be able to embark on some fantastic marketing campaigns 😊 Hi,
Will the mvp/ someother beta product be ready b4 the main sale?
MVP is scheduled to be completed some time around Q2/Q3 this year. The platform build itself is not overly tricky especially with the team we have and the hires we are making all supported by David Ives (one of our advisors) who built CrowdCube the worlds first equity crowdfunding platform. We’re currently working on scoping and will soon be producing clickable wireframes and prototyping, both of which will be available before the main ICO. What are the plans for the project now and where will it go with regard to fees? How quickly will it be possible to obtain data on a specific product that can be used in real time? What are the plans for coverage? - not all of these questions have answers in white paper - if there is such information please write here - or in a personal message. Still wondering - are there any similar projects? How are there examples?
Hi, There will never be fees to use our platform. The platform itself will be completed Q2/Q3 this year so successful product details will be available after that. As far as coverage goes will be continuing with the multi-channel marketing approach that has brought us great success this far. As for similar projects you have the traditional crowdfunding platform such as Indiegogo and Kickstarter that aren’t available in many countries, only accept a small number of projects and charge his fees. Our platform is free to use, available in almost any country and will accept almost any legal project. In the ICO space there are platforms such as KICKICO but these are only for ICOs whereas these will be on of the few projects our platform won’t support. Tell us more about the Acorn Marketplace. What currency can I pay for goods? This platform can be used by anyone or only the ICO participants?
The Acorn Marketplace will be a post-campaign retail platform for goods and services that were successfully funded on The Acorn Hub, provided at no additional cost to Acorn founders. This will provide instant visibility while letting founders get a free and effective new sales channel to reach users who have already expressed an interest in crowdfunding and the projects. While platform access is free for Acorn founders, we will also accept innovative 3rd party products for a small commission. The aim is to add value to the marketplace, Acorn founders and the OAK token, in the form of increased utility. We aim to initially allow payments in both fiat currency and OAK tokens. As the market capitalization of OAK and the number of users increase, we hope the use of fiat currency on our platform will decrease naturally due to the higher transaction processing fees incurred from fiat payments. Once again, we hope by increasing the utility and demand of OAK in the face of its fixed supply, we can generate long-term upward pressure on the value of OAK. As far as I understand the soft cap was collected on the presale? What is the price of ICO and when is the opening date?
See answer a few above for more details on soft cap, 800 OAK : 1 ETH for main sale, dates to be announced very soon! It's an appropriate time to say that we really appreciate the continued support and interest you guys are showing us and our project. We're not ignoring any of you, we have been very busy in starting to plan the Main-Sale and will be announcing some major developments very soon. CryptoBudgie will be back in the next few days to address all of these questions that have been asked over the last few pages. Thanks for your patience!  Tell me, does your team look with confidence on the forthcoming ICO? How do you think you can collect $ 50 million? We are feeling very confident for our main ICO, we managed to sell out our pre-sale on a comparatively small budget, so with the proceeds from the main sale we can increase our marketing a substantial amount and further our relationships with more institutional contributors and other significant partnerships to ensure we hit our target and can fulfill our dream of providing greater access to funding for all! |
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Guys, why there is no new contributors? I understand that it is not your fault, but at least you can chance your soft cap, it is extremely huge, some projects have hardcap $5kk and in your case it is only soft. Why not to decrease soft cap to at least $3kk in order not to postpone your ICO and not to harm your image. We’ve sold nearly 50% so far from 2000 contributors and have another 3000 who have passed KYC and yet to contribute so we’re far from done 😊 Even if we don’t raise any more (which is highly unlikely!) we will not be postponing the ICO. We only need to make $5M USD from the pre-sale and ICO to make our platform viable (it will just take longer than if we hit our target), we’ve already raised $2m USD from a comparatively small marketing budget so we only need to raise $3M USD more between the pre-sale and ICO. All in all we are in a great position and the pre-sale is far from done yet! Guys, why there is no new contributors? I understand that it is not your fault, but at least you can chance your soft cap, it is extremely huge, some projects have hardcap $5kk and in your case it is only soft. Why not to decrease soft cap to at least $3kk in order not to postpone your ICO and not to harm your image. Do you think there is already such a need? after all, at the current stage there is a presale and collected almost 2 kk$, there is still more than a week before the end of the presale, and then there will be an ICO period. I agree, soft cap at Acorn are a little high, but I believe that they will be able to achieve it. was the lucky guy announced on the first day of the competition? I participated in the competition and would like to know where I can see the result. They were announced on our Twitter feed and Telegram page 😊 All IСO projects have their own soft cap. But a projects that will be placed on your platform will have a minimum soft cap? if so what size will soft cap be or is it an individual parameter?
We will accept almost any legal project of any size great or small. I hope guys you will be able to reach soft cap as your funds depends of ethereum rates I believe that we will witness bullish market quite soon. Will there be any kind of airdrop maybe?
There’s no softcap for the pre-sale, as stated above if we hit $5M USD at pre-sale that also means we’ve hit our softcap for the main ICO. But an airdrop is certainly something we have looked at. I read in white paper that the entire amount of money that will be collected for pre-sale in case of failure of the project investors will not be returned.
Therefore, the project has no other way out only to be successful....
If we don’t hit $5M USD between the pre-sale and main ICO then the pre-sale funds will be used the continue MVP development and we schedule another coin offering. We realise this still presents a slight risk for our pre-sale contributors hence the 50% discount. Devs, I wonder what will happen with this unsold tokens if you reach soft cap? I hope they the rest tokens won't be distributed among ico participants and will be just burnt.
Our smart contract only generates tokens when we receive ETH so there are no unsold tokens generated which means none need to be burnt. Thanks Cryptobudgie! What about my question about insurance? Are there any developments?
Sorry SparkIt didn't mean to miss yours out! There’s a lot of regulation around insurance provision so we would initially use a experienced vendor such Lloyds of London to create the first range of products, its an interesting and complicated area so we would need to look at how it could be provided to add best value to founders and backers. We will be introducing a thread on this and lots of other more specific areas of the program for you to follow over the next couple of months. Have you already signed a contract with Lloyds of London? No they are just one such insurance expert we are looking at. Wow, 200 projects have already singed up on Acorn Collective platform and plan to start their craudfaunding Q2 Q3 this year. Looks good!
200 projects are a large number, but how big are these projects? because it is important not the amount but the quality of projects They are really far ranging from large sustainable food projects in Canada to an Australian county music artist funding her first album and a football Academy in Nigeria. Can anyone say any specific requirements for fund-raising projects will be presented? If so, which ones? I'm interested in the system of evaluation of projects before you start collecting how will you deal with deception and scam? This is a fairly "thin" moment - so I want to clarify it in advance. The fact is that there are already a number of projects that need to be collected and ready to present themselves - a question when it will be possible and again - under what conditions? ? As with ICOs people backing any project on any platform should always conduct their own research before contributing money towards it. Unfortunately in life there will always be those who will seek to decieve others which is why people must use their own common sense before parting wth their money. We have a range of review steps to counter this. The first is simply moderation of the project, which would have to pass a legal test. The second is whether it is ethical, for which we have an ethics board. The third is the backer community who – as stated above – will scrutinise before they invest. There are other flags we will monitor such as how they interact with their community and conduct their raise. Overall fraud in crowdfunding is actually quite low – the study quoted in the whitepaper is less the 5%, but we have as many mechanisms as possible in place to filter out bad actors I have a very importan question for the team. Is Benny Team member? And what kinde of work he do Benny for CEO! What will happen to unsold tokens? Will they be burned? If the project will collect soft cap, will ICO be held in the summer or later?
See answers above 😊 What must I do to start my project on Acorn platform? As I understand your platform use blockchain to help people start their own business or social initiatives from real sector, doesn't it? Our platform will follow the Kickstarter model of reward crowdfunding except our will be completely free, available in almost any country and accepting of almost any legal project. So whether it’s the latest tech startup in silicon valley or a community project in Vietnam all our welcome on our platform. Funding a project on the platform will be very straightforward, you can even pre-register on our site right now ! Are there any agreements with the first projects? Who will be the first to collect money on this site? Early supporters among the founders of projects there?
The people who have signed up already will most likely be the first to use the platform, some of whom have been early contributors to us as well! |
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Thanks Cryptobudgie! What about my question about insurance? Are there any developments?
Sorry SparkIt didn't mean to miss yours out! There’s a lot of regulation around insurance provision so we would initially use a experienced vendor such Lloyds of London to create the first range of products, its an interesting and complicated area so we would need to look at how it could be provided to add best value to founders and backers. We will be introducing a thread on this and lots of other more specific areas of the program for you to follow over the next couple of months. |
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Wow! As always team wrote so much that while read forget begin. Thanks Cryptobudgie for such a detailed response.
What about crypto competitor? For example RootProject (not exact but as platform for any projects)?
Hadn’t come across RootProject before, what a wonderful project, some similarities to ours but more differences. They are non-profit just focused on laborless community projects whereas ours has a far greater scope. There's no crypto reward crowdfunding platform I've come across that would represent competition for us but, its such a fast growing space this could change! Devs, what about other languages ANN? Are they coming or you decided to have only English thread? It is a bit difficult for me to read English WP, I would prefer Korean translation.
We will be increasing all of our translations very shortly for all key content and the website. Can someoe explain something to me, bit of a dumb@$$ when it comes to this. How will the value of the investment be secured since payment will be in acorns? Say for instance I invest 100 Oak on something but 1 Oak is $10, what happens to the total investment if it drops to $2 the following week?
projects at Acorn will be given the choice about accept funds in Fiat currencies or cryptotoken. The issue of volatility is very topical in the light of events in recent weeks. The probability of a conditional with 10$ to 2$ always exists, as well as the probability to increase from$ 10 to$50. There is another controversial issue. In addition to investors who finance the project with oak, the problem can arise in people who make a crowdfunding. They will not be able to pay by OAK for the development of their product, and they are interested in immediately selling the received tokens, which will also negatively affect the price. Can there be an explanation from devs? Can someone gie me an answer on this? This is the only thing stopping me from investing. Putting it simply I would like to know if project is funded in oak and oak decreases in value how does that effect the target of the project? The situation described by you is absolutely analogous to that as any of us invests in ICO. For example, when I exchanged my ETH to OAK, its price was about a quarter more expensive than today. Of course, today it is still subject to the exchange of 1600 tokens for one ETH, but ETH was more expensive. And it turns out today OAK I can buy more profitable than a week ago. What do I want to say by this? We always find ourselves before the choice to invest now or later, or not to invest. These are our risks. And no guarantees. But the project that you decide to give their acorns will obviously have to exchange some of these funds for a fiat currency for to be able to developed their idea. And thus we can say that part of the collected funds probably will be fixed in a fiat currency. The project founders will set their target raise in USD and any fluctuations will absorbed by our liquidity fund Do you have any arrangements with exchanges? what happens if you do not reach the softcap?
At the moment our exchange conversation are still at early stages as we won’t be listing till after the ICO finishes, but we are partnering with Bancor to ensure immediate token liquidity. If we don't hit our softcap (unlikely based on what we've raised so far!) we will use pre-sale funds to continue MVP development and schedule another coin offering  I got a great idea today related to my profession. I think that this can be done in an excellent project and try to place on your platform! Who you know suddenly realize the idea will soon be as simple as "one-two-three"? If the project can be adapted to the different language groups for the collected funds, I think it will be just a bomb! Make sure you submit it on https://aco.ai/showcase/ on the ‘Fund Me’ section, we would love to have it on board! Guys, how are you gonna cope up with the current situation of the crypto market? Does this greatly impact the ongoing ICO?
This should not be a big problem for Acorn. Almost every project encountered a market dump in during an IСO company. Life is harsh and ugly, and only the strong survive! So it means, no changes on the number of tokens or price per token? I believe so, many have encoutered this but some are adding a percentage to investors or simply a plus tokens to investors. I do not think that we should seriously worry about the fall of the market. For new startups, this is a chance to prove themselves. A good project is always in price. Yeah we can say that. Hopefully those who bought when eth is at peak will not create such a fuss. One more thing, how is the team handling the security over the information specially client personal data and the ICO itself? We know some projects have suffered from cyber attacks stealing not only information. Thank you! A very good question, we have several revenue generating mechanisms built into the platform, support services such as legal and marketing, the Acorn Market place where successful projects can be sold and a featured projects section which will support us medium and long term. The operations fund from the initial raise will support us in the short and medium term. You can learn more in the whitepaper about these elements. Sorry are you from the team as Cryptobudgie? Can you answer have the team something working? Test platform, MVP? May be you planned to say us that exist or will be soon?  There have been private investor conversations but we have been limiting these as we want as many token holders as possible. Our marketing is starting to have the desired effect now, so we are already seeing a good uplift today and look forward to a great week ahead If I understand correctly, the commerce of the project will go as the number of participating projects (collectors) and donors increases. The whole question is that I do not fully understand - is it really necessary to bring the main profit to the project with tokens? (with the growth of the project and participants - the growth of the tokens should not make us wait.  A token sale is the only way we can make our platform completely free to use as traditional funding requires hefty profits for shareholder. By being funded through an ICO we can avoid this. As far as the platform generating profit is concerned, see the answer a few above 😊 If I understand correctly, the commerce of the project will go as the number of participating projects (collectors) and donors increases. The whole question is that I do not fully understand - is it really necessary to bring the main profit to the project with tokens? (with the growth of the project and participants - the growth of the tokens should not make us wait. I think Acorn is middle term investing. By the way who knows what project will start their crodfaunding on Acorn platforrm first? And when it will be? We already have over 200 hundred projects signed up waiting to use the platform upon its completion Q2/Q3 this year. You can see some on the website |
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Based on pre-ico Know-your-customer "KYC" terms, you need to submit photo id to participate. Is this normal?
It’s becoming standard practice for most ICOs it ensures we can use a bank account to store funds in for those people and services that we have to pay in fiat.
2. We intend to incentivize referrals in a similar way, by rewarding those who successfully
recruit new users into our ecosystem, as part of our Affiliate Rewards system.
Сan you say the figures for the remuneration for referrals involved? I have my own blog and I think that I could attract a lot of users to your platform. Not exactly, but the project incentive fund is 40% of our raise Very useful project for the community! In what currencies do you accept deposits? Which wallets would you recommend to use?
MyEtherWallet, Mist, Metamask or Parity are all good. Contributions in ETH only. 23 hours until the Pre-Sale! why do you accept only the ethereum (ETH) tokens? usually bitcoin is taken too. Or is it only at the Pre-Sale stage? Thanks for the question. We only take Ether because adding bitcoin contributions would increase the complexity of our smart contract and sales process, because they are 2 separate blockchains. Our token is an ERC-20 ethereum token, so people would need an ether wallet anyway. We don’t believe it would make that much of a difference to most people. I heard that the start of the pre-sale was postponed for two days. Is this information true? For what reason did your team decide to postpone the date?
No - the start of the preliminary sale was postponed for 2 hours, now it is already active. Here is tweet - https://twitter.com/AcoCollective/status/957977057530654721I congratulate the team of Acorn with the beginning of the PreICO! for me fifty percent bonus looks very attractive. strong community and the embodiment of the idea of the Acorn will allow people to find their followers and provide quality content for them. What happened ? why did you decide to postpone the presale for 2 hours? by the way, how can I track the sales process? discussions and information above is needed by the community who follow this project. but why delay the sale time? Is there any problem ? thank you We had a slight issue with our KYC integration that was fixed within two hours 😊 Our platform follows the traditional Kickstarter model as a reward crowdfunding platform, whether it be the latest tech gadget in Silicon Valley or a Chicken farm in Ghana all our welcome on our platform, whereas Coinstarter and others like it a for ICOs only. If I buy tokens, will I have the right to vote in your company?
Tokens will not provide voting rights to holders. By the way why did you choose such strange name for you platform - "Acorn Collective"? I learn WP and did not finde answer )
Acorns are a fantastic symbol for growth; how small ideas can grow into great things. Collective reflects the community nature of our platform and how many people come together to help a great vision be realised. Devs when you are planning to go on exchanges? Maybe you are already negotiating with some major exchange?
We are speaking with a number of exchanges at the moment, but as wont be listed till after the ICO these are still at early stages. We will be partnering with Bancor to provide immediate token liquidity. Is there anyone involved in the bounty campaign ? Do you have assignments on retweet for ACORN posts? I have not had such tasks for 2 weeks already.
If you head to icoreward.com you can see all bounty details. Guys have you already reached soft cap? If so please make it announced in your ANN, if it was reached, at what date does crowd sale starts and with what amount of bonuses?
By the way I'm wondering what soft cap and as hard cap at acorn. will there be discounts at the ICO stage? For the ICO the softcap is USD 5M with a target of USD 50 M and a hardcap of USD 100M, sorry, but there will be no discounts available at the ICO stage Today 3 or 4 day of fundraising maby any new news? how are the fees going? Did not the tempo decrease as he was at the beginning?
The first 24 hours and the last 24 hours are normally the busiest for a sale so a slight drop off was expected but we are combating this with a high number of marketing campaigns. Do you have any problems with fishing and scammers. There are a lot of frauders near good projects. Sad but true. In telegram chat I saw few warnings about it.
The warnings have been pre-emptive more than anything else. Like most pre-sales there have been scammers around but we’ve been very active in the channel which has gone a long way to preventing them Hey there,
any relation with the acorns saving app? why such a close similar name ?
Cheers
Not the first time we’ve had this one! Acorn is a very popular name for many companies, I grew up with Acorn Computers; a great educational tool. For as long as there are Acorns and companies wishing to symbolise growth and transformation the name Acorn will be used! But we feel the addition of Collective makes unique and a strong reflection of our brand values and identity Thanks for the info! If I fail to participate in the event - a recording will be available later? Have any article or transcript? I don't have much time to view but I can to read during the day. If any can it would be great! At least thesis Our Copywriter Tayana will produce an article on this I believe On your website as a partner is indicated European Crowdfunding Network. Tell us, please, on which issues you are working on and what benefits this interaction brings.
Thanks for the question. ECN provide a range of expertise and training on crowdfunding, so we’re using the partnership to inform our own training packages and best practice in crowdfunding. Also, they are putting together an ICO and blockchain working group that we’re just speaking to them now about being a part of. We want to use the partnership with a leading organisation to be a closer part of the crowdfunding community, develop and share best practice and influence crowdfunding within blockchain. Do you plan to develop your own mobile application? This is very relevant and important in our time. By the way, how are things going with presale? have you reached softcap?
Absolutely, mobile is vital to what we are doing as in many developing countries mobile is the only way to access the internet. Things are going great with the pre-sale thanks, 2,453,540 OAK sold at time of writing Guys will you provide digest of the most interesting questions and responses from AMA? I just do not have time to read that much info and yes, the most interesting question is listing plans We will do, for listing plan, please see previous answers ^^^ Yesterday I watched a video on YouTube with the participation of the Acorn team. Very smart and positive guys. By the way, do you have a project based in England?
Most of our team is based in the UK but the company is registered in Gibraltar Do you have incoming projects ready for implementation after the ICO? Also, very interesting on how ACORN team will ensure that it supports only legit projects, I mean with viabke product. 😊😊
Head to aco.ai to check out our project pages. All projects on the platform will be reviewed before approval if they are illegal according EU law they wont be allowed. If the are legal but ethically questionable they will be reviewed, by our ethics board, comprised of people of different ages, nationalities genders etc who will decide , if they fail to reach a decision it will be put out to public vote and we will let the community decide. Beyond that we will accept any projects and people will decide with their backing whether a project succeeds or not. I also wonder about partnership acorn intends to conclude, are there already known companies, enterprises? Thank you, I hope such info can be disclosed.
All our current partnerships are listed on our website, this list will grow when we confirm partnerships with accelerators worldwide, we’re in a talks with a lot so hope to announce some soon. How do I determine correct GAS in MEW for contribution? It's defaulting to 100358. Is that correct?
We recommend 150K gas limit minimum, 25 gwei Guys is. presage stage is over? I didn't get response on what are the bonuses for crowd sale stage. Is bar on your website guys updates automatically or manually?
Pre-sale closes 19th Feb, no bonus but tokens are available at 50% discount, bar on website updates automatically 😊 Can someoe explain something to me, bit of a dumb@$$ when it comes to this. How will the value of the investment be secured since payment will be in acorns? Say for instance I invest 100 Oak on something but 1 Oak is $10, what happens to the total investment if it drops to $2 the following week?
When a founder sets his campaign target he sets it in a USD value. The OAK contributions count towards this funding target in USD using the current OAK exchange rate at the time. We then protect the USD value that he has managed so far. If the OAK value goes down in the meantime, Acorn’s platform will have to make up the difference. However, if the OAK value goes up in the meantime, Acorn will be able to keep this difference. So yes, volatility can be a problem for Acorn, should there be a prolonged or massive downswing right during the time when we’re due to pay large campaign payouts. This is one of the reasons for the liquidity reserve. It’s an allocation of the ICO proceeds that will help to smoothen out currency swings from large campaign payouts and OAK dumping by founders, but can also be used to sell off some tokens gradually during campaign raises (helping to protect us by locking in the USD value) and also maintain liquidity for us should we need to cover some of these contributions after an OAK downswing. It is one of the drawbacks of using crypto for campaign contributions, but we believe we’ve got a workable mechanism to overcome this. That said, we also expect that over the long term, crypto’s volatility, including OAK’s, will improve. Additionally, crowdfunding’s expansive nature (each founder must market his project and recruit his own backers, meaning each project potentially brings in lots of new users into the token ecosystem), our project incentive fund and other token growth mechanisms should help to maintain OAK demand and support the token price over the long term. A very unfortunate period for the collection of funds ICO. But who knew that the correction in the cryptocurrency market would begin. This situation can affect the fees in the worse side. What will you do if the correction continues for another 2-3 months?
We’re confident the recovery is underway and we are already in a great position despite the correction and with the marketing we have going out should we should be fairly immune from issues in the market on a macro level |
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Hi folks,
Sorry we've been a little quiet on here it's been a very busy few days for us, pre-sale is moving along really well. We've already hit over $1.5M USD which is a fantastic start. We've had 1.3k total transactions which means lots of token holders which is great for the stability of the token and we've had individual contributions as high as 49 ETH. There will be a ticker on the website to track contributions appearing shortly. We've got lots of marketing going out over the next days and weeks that will certainly boost our numbers based on the results previous campaigns have brought us. We're 48 hours in and things are looking great, thank you for all your support!
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What benefits will I get if I buy the tokens from the start of the sales?
Our pre-sale tokens are available at a 50% discount this has lead to quite high demand so the getting your tokens at the start of the sale means you won't miss out! Democratizing access to funding, this is a very promising target, of course with very good planning.Looks promosing of this KICKSTARTER project where do you have a plan to put on exchanges after the ico is done?
We're currently engaged in a conversations with a number of exchanges but as we won't be listing till after our ICO these are still at early stages so we can't announce anything just yet. Acorn collective has good activity in telegram chat. There is about 1,6 k people of potential investors. I take a lot of info from there. Also less than three days left before pre-sale starts, so how many people already in whitelist?
Hi BennieMan we're up to 1.9K now! The whitelist is up to 6.5k which is great news for our pre-sale You got nice ranking guys by icobench, this is very respected source of ICOs evaluation, but I wonder why they estimated you product with 3.4 while you have mvp? that is really strange.
Our MVP development is still in very early stages so this score is quite a fair reflection Aside from the fact that our platform is completely free, available in any un sanctioned country and accepting or nearly any legal project we also have project backer insurance, the Acorn Marketplace, our project incentive fund to match the raises of early users of our platform and our affiliate rewards system to set us apart from exsiting platforms.
Also while I can understand that some people may view free access and openness as a bad thing the entrepreneurs in countries that are currently ignored or who's projects aren't "cool" enough for existing platforms certainly don't!
Is this mean that for example Iran or Russia could not start projects on your platform? What sanctions do you have in mind? If you plan to translate on other languages how to check can I start or not? As we are registered in Gibraltar which is part of the EU we must abide by EU laws in regards to to which countries we can do business in. There are numerous bans and restrictions on countries such as North Korea, Syria and and Iran which make it difficult for any organsation to to business there. These are the sanctions we refer to. If you'd like to learn more about translation opportunities then head to icoreward.com What benefits will I get if I buy the tokens from the start of the sales?
A huge 50% discount will be offered to contributors in the Pre-Sale which starts on Monday 12pm GMT. Sign up to the Whitelist here - https://whitelist.aco.ai/rewards/If someone doesn't uspeet to join in the white list till Monday it won't be given any more an opportunity the sign up to the white list? in other words the sign up to the White list it will be closed on Monday the 12pm GMT? The Whitelist will be closed Monday at 12pm, if we haven't hit our cap people will still be able to contribute though We want to reward and encourage early adopters. A Project Incentive Fund provides generous incentives for people to use our platform. Please tell us in more detail about what generous incentives and encouragements are written on your website? For what actions can I receive reward? There are a few incentives in place for our early platform project founders: 1. Match funding 1:1 (up to a certain figure), to double the funding for each project. 2. Provide an initial percentage of the intended raise below the minimum funding threshold (e.g. 20-50%). 3. Provide generous startup funding to attract serious project founders, but in exchange for equity. Startup funding can only take place if done alongside a crowdfunding campaign on our platform and will be at our discretion. For the platform to achieve the global reach we aspire to, we also need to incentivize backers who are new to digital currency into the OAK token. 1. Our mechanism for this is simple and direct. We intend to provide starting bonus OAK to early backers for them to spend on further projects, essentially allowing them to back projects and receive rewards for free. 2. We intend to incentivize referrals in a similar way, by rewarding those who successfully recruit new users into our ecosystem, as part of our Affiliate Rewards system. Aside from the fact that our platform is completely free, available in any un sanctioned country and accepting or nearly any legal project we also have project backer insurance, the Acorn Marketplace, our project incentive fund to match the raises of early users of our platform and our affiliate rewards system to set us apart from exsiting platforms.
Also while I can understand that some people may view free access and openness as a bad thing the entrepreneurs in countries that are currently ignored or who's projects aren't "cool" enough for existing platforms certainly don't!
Is this mean that for example Iran or Russia could not start projects on your platform? What sanctions do you have in mind? If you plan to translate on other languages how to check can I start or not? not many countries are under sanctions. And it largely depends on who imposes sanctions - UN, EU, America, Canada, Russia ? I guess it depends on the place of legal registration of the project. Any project, not only Acorn, is obliged to follow the rules and the sanctions to the country , which is the place where he pays taxes. Will the project have a serious "know your customer"? Do they work with an external provider of identification verification? We are partnering with Identity Mind for our KYC procedures. Cryptobudgie, please tell where in this scheme investors of crowdfunding projects?
Do I understand correctly from WP that will be invest can only holders of OAK-tokens?
If you look in the top right of the diagram you will see the project investors referred to as backers. You are correct projects can only be backed with OAK tokens. That is, if I don't have OAK-tokens, then I can't invest in any project on Acorn platform? Correct, you can only back projects with OAK tokens. Cryptobudgie, please tell where in this scheme investors of crowdfunding projects?
Do I understand correctly from WP that will be invest can only holders of OAK-tokens?
If you look in the top right of the diagram you will see the project investors referred to as backers. You are correct projects can only be backed with OAK tokens. That is, if I don't have OAK-tokens, then I can't invest in any project on Acorn platform? I understood it the same way, but on the other hand it will lead into increase of token liquidity to my mind, am I right devs? Or what are the other reasons also? Correct consigliere! |
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Interesting project. Really not sure that there is real demand. Crowdfunding theme is not new, the required infrastructure is already there.
Hi, Crowdfunding is growing year on year and the World Bank estimates it will be worth as much as $1 Trillion USD by 2025. There are existing platforms such as Kickstarter & Indiegogo but these exclude many countries in the developing world, charge high fees for use and payments and only accept a small number of projects. Our platform will be accessible in any country, will accept almost any legal project and will be completely free to use. The existing platforms have shown the model works, we are simply improving upon that in a rapidly expanding market. You write that your platform will be available in any country, but your site is currently only in English. Do you plan to translate into Chinese, Russian, Korean? Absolutely, part of making our project a truly global platform is the ability to operate effectively on a local level this means not just translations but also making sure the platform is adjusted to be operate with local customs and regulations. In the short term we will be producing translation for the website and key documents , in the medium to long term we will be implementing all aspects of translations and localisation into the platform. Interesting project. Really not sure that there is real demand. Crowdfunding theme is not new, the required infrastructure is already there.
Hi, Crowdfunding is growing year on year and the World Bank estimates it will be worth as much as $1 Trillion USD by 2025. There are existing platforms such as Kickstarter & Indiegogo but these exclude many countries in the developing world, charge high fees for use and payments and only accept a small number of projects. Our platform will be accessible in any country, will accept almost any legal project and will be completely free to use. The existing platforms have shown the model works, we are simply improving upon that in a rapidly expanding market. You write that your platform will be available in any country, but your site is currently only in English. Do you plan to translate into Chinese, Russian, Korean? I also wonder about county coverage of your project but not in translation terms but in collaboration and establishing business ones. What is your near market region aims? Thank you. Part of the localisation mentioned above involves us working closely with accelerators around the world to establish local connections and a pipeline of projects from this. We've spoken with accelerators in Pakistan, Bangladesh, Zambia and Mexico to name a few. We intend to grow a network of accelerators to help tackle issues around crowdfunding and to ensure the platform is adopted quickly in these regions. Hi folks, sorry for the late responses, the pre-sale starts in 4 days so as you can imagine we've been pretty busy, thanks for your patience.
 Cryptobudgie, please tell where in this scheme investors of crowdfunding projects? Do I understand correctly from WP that will be invest can only holders of OAK-tokens? If you look in the top right of the diagram you will see the project investors referred to as backers. You are correct projects can only be backed with OAK tokens. Interesting project. Really not sure that there is real demand. Crowdfunding theme is not new, the required infrastructure is already there.
Hi, Crowdfunding is growing year on year and the World Bank estimates it will be worth as much as $1 Trillion USD by 2025. There are existing platforms such as Kickstarter & Indiegogo but these exclude many countries in the developing world, charge high fees for use and payments and only accept a small number of projects. Our platform will be accessible in any country, will accept almost any legal project and will be completely free to use. The existing platforms have shown the model works, we are simply improving upon that in a rapidly expanding market. You write that your platform will be available in any country, but your site is currently only in English. Do you plan to translate into Chinese, Russian, Korean? I also wonder about county coverage of your project but not in translation terms but in collaboration and establishing business ones. What is your near market region aims? Thank you. I Think that Acorn should pay more attention to the East with its progress in ICO and blockchain spheres. We are very keen to have a presence in the east, we will be attending an event in Singapore in February that we will also hopefully be speaking at and one of our advisors Desmond Marshall is based in Hong Kong and assists us with relations there. We also aim to have an increasing impact across the east as a whole as it is a very exciting area for blockchain projects. Interesting project. Really not sure that there is real demand. Crowdfunding theme is not new, the required infrastructure is already there.
Hi, Crowdfunding is growing year on year and the World Bank estimates it will be worth as much as $1 Trillion USD by 2025. There are existing platforms such as Kickstarter & Indiegogo but these exclude many countries in the developing world, charge high fees for use and payments and only accept a small number of projects. Our platform will be accessible in any country, will accept almost any legal project and will be completely free to use. The existing platforms have shown the model works, we are simply improving upon that in a rapidly expanding market. So the difference from the usual market is only in the amount of commission? I understand that there will be free access and openness, but in my opinion it's not always a plus for consumers. Aside from the fact that our platform is completely free, available in any un sanctioned country and accepting or nearly any legal project we also have project backer insurance, the Acorn Marketplace, our project incentive fund to match the raises of early users of our platform and our affiliate rewards system to set us apart from exsiting platforms. Also while I can understand that some people may view free access and openness as a bad thing the entrepreneurs in countries that are currently ignored or who's projects aren't "cool" enough for existing platforms certainly don't! That is ok. I`m new in crypto and this forum and see that projects need protect their bounty campaigns. Balance between marketing and investors interests Thanks for understanding Bujuman LoL, to tell you the truth I didn't get the idea of this promo, especially the last scene when a person was disturbed How is this connected to the Acorn concept? Whilst our vision of bringing crowdfunding to everyone around the world is a serious one, we are also keen to show the we are human and have a humourous side so this advert is meant to show that while you can fund almost any project on our platform that doesn't mean you should as they can have unexpected consequences! When can expect the appearance of tokens in Bancor network? I seem to have seen information that Acorn is negotiating about this.
We will be partnering with Bancor to ensure immediate token liquidty upon the completion of our ICO. |
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Hi folks, sorry for the late responses, the pre-sale starts in 4 days so as you can imagine we've been pretty busy, thanks for your patience. What documents should I submit in order to undergo KYC procedure? Currently, many projects require as proof of address of residence, Bank statements or pay mobile services, unfortunately my Bank does not provide in the statement the address of residence of clients, so for me it is a problem
Hi Morgan, for our KYC we'll need proof of ID such as passport or driving license and a recent proof of address if your ID doesn't have your address on there. For your proof of address you don't have a bank statement you can use Household utility bill (eg gas, electric, water or fixed line telephone but not a mobile phone bill). It must be no more than three months old and show your name and current address. You can also use a credit card bill, tax bill or voter registration letter take my congratulations) 4.8 rating is not bad! But why is not 5 points? It's all due to a not enough number of Milestones? Because only for this point is not scored the maximum like Yes it simply due to the milestones, as the project moves forward over the enxt few months we should see that rating go from 4.8 to 5.0! Meanwhile, we have a comprehensive technical paper which outlines our approach. This paper has been reviewed by our advisor, David Ives, who is the ex-CTO of Crowd Cube, one of the world’s largest equity crowdfunding platforms. Should we not reach our minimum funding threshold, the contributions from our main token sale will be refunded to all investors. Contributions from the Pre-Sale phase will not be refunded and will be used to continue development of our MVP and schedule another coin offering in the future. There are no airdrops planned but we’ve run a couple of competitions on Telegram and we’ll review it over the next few weeks
 Could you comment a scheme on 18 page of WP? It is very difficult to understand what it is. It is quite a complicated diagram, it shows the relationships between all the kinds of user the platform has; project founders & backers, platform moderators and admins and the services and databases they'll need to access. These are the user journeys through the platform and it's critical to have these mapped out for our MVP build. Devs, on validated interest topic on the website you mentioned that there are great interest on projects side to be listed. Could you name some of them or it is confidential info still for now? I just hope we will here big names for collaboration, hope it will be on the very first steps of your product launching.
We will very shortly have a whole section of our website dedicated to the projects that we have recieved so far, so will be able to see them in more detail there. We have had a huge variety of projects rannging from farming initatives in Ghana, a football academy in Nigeria, an exo-skeleton for people that have lost movement in the hands in the UK, a sustainable food intiative in Canada and an Australian country music artist who wants to fund their next album. This is really excitng as it shows the global potential of our platform. Early listing of the OAK token on digital currency exchanges, shortly after completion of the ICO would ensure contributors have a viable exit strategy as well as to allow new users into your ecosyste (WP 4.2.) But what if this would hard dump your token? People who will get bonuses will fix their profit and sell token lower ICO price!!
In the short term, to be frank, we expect there will be dumping by some initial ICO participants. However, this is something quite common among many ICOs, whether they have a large pre-sale bonus or not, and is not something in our immediate control. The pre-sale token cap of 7m ACO is not a huge percentage of the overall pool - Max supply is 90m ACO, if we reach the hard cap - If we just reach our standard funding goal, there will be ~45m+ ACO) - The bounty program has been allocated 150k ACO There are other measures we’re taking to mitigate against coin dumping. We expect the MVP to be ready by late Q2/early Q3 - We maintain active outreach with the community and demonstrate active development occurring to show people that the coin isn't dead, even though the price may have taken a dip - Release our platform only a few months after the ICO, giving the token real utility and recruiting actual users into the token ecosystem (and thus generating demand for it) We have designed token growth & stability mechanisms which should further limit the impact of dumping and ensure adoption and growth of users entering the token ecosystem at an early stage - more info on this can be found in our one-pager and whitepaper In short, yes we expect there will be some dumping and there's nothing we can do to prevent it completely, however I do think the way we've designed it and plan to move forward with Acorn's platforms and mechanisms a short time after the ICO completes can minimise the impact of dumping and make sure it only lasts a short time. In which currencies do you accept contributions? What wallets do you recommend to use?
We will only accept donations in Ethereum and you can use any wallet that will accept ERC-20 tokens. We're big fans of the security that comes with hardware wallets such as Trezor but always encourage people to do their own research before choosing a wallet. Will the burning of the token, if not all will be sold during ICO? Thanks for the answer.
Hello dev, you forgot to answer this question because it is really important for many investors. Will you burn the unsold tokens or not? and when? if you burn coins after entering the exchange then this can raise the value tokens Thanks Coindest definitely an important question, AUruHM had commented on it earlier in the thread but we should have expanded upon it so thanks for the opportunity to do so. If our token sale exceeds the minimum threshold USD 5M, but we do not reach our target of USD 50M in ETH equivalent, we will consider issuing a second tranche of ACO tokens at a later stage. Once we have attained our funding target, we will disable new minting immediately and will never hold another token sale again. I believe in your success but 50 million in ETH equivalent is very big amount on nowadays. More and more ICO projects have recently reached $10-20 million. It means that you will burn the tokens at the last moment? USD 50 M is a large amount but for us to be a truly global platform it is necessary, it also is inline with amount that existing crowdfunding platforms have raised through traditional means, for example Indiegogo has raised USD 56M through various rounds. Once we hit our target we will not ever to go through any further funding. We will not need to burn any tokens as we will only mint enough inline with our raise. Thanks for the great answer. I agree 50 million is the amount that will allow the project to exist and prosper for a long time in the current situation with the cryptocurrency. But if on the IСO are not going to be as successful as expected and the next rounds will not bring much fees. Do you have else options how to attract funds after ico? If our minimum threshold is not reached the contributions from our main token sale will be refunded to all. Contributions from the Pre-Sale phase will not be refunded and will be used to continue development of our MVP and schedule another coin offering in the future. If our token sale exceeds the minimum threshold, but we do not reach our target of USD 50M in ETH equivalent, we will consider issuing a second tranche of OAK tokens at a later stage. Once we have attained our funding target, we will disable new minting immediately and will never hold another token sale again. In this case, we will speak with the community of token holders to see which they think is going to be the most viable way forward – another raise after the MVP or just create the business from where we are. This will be fairly straightforward at, say $7m – we would beuild the MVP, get traction and do a second raise. At something like $30m+ we would move forward without any raise and freeze the token number. In between those sorts of figures we would see what the token holders want to do. Acorn guiding principle is minimal intervention. The platform should should encourage users creativity by keeping rules, requeriments and intervention to the minimem. Well...what about scamers? How will you beat them what a plan? A lot of people see in crypto just way to get easy money, but not the to make world better. And as we see they win for now. As with with ICOs people backing any project on any platform should always conduct their own research before contributing money towards it. Unfortunately in life there will always be those who will seek to decieve others which is why people must use their own common sense before parting wth their money. We have a range of review steps to counter this. The first is simply moderation of the project, which would have to pass a legal test. The second is whether it is ethical, for which we have an ethics board. The third is the backer community who – as stated above – will scrutinise before they invest. There are other flags we will monitor such as how they interact with their community and conduct their raise. Overall fraud in crowdfunding is actually quite low – the study quoted in the whitepaper is less the 5%, but we have as many mechanisms as possible in place to filter out bad actors. actually i dont understand the real role of this project.
ICO itfelf is a crowdfunding platform
you aimed on developing countries but there is no place for crowdfinging
you have restrictions in USA citizen participation - it is not good
people gett token they wants do profit but not good words only
Hi Zavulon 1988, the aim of this project is to be bring free access to crowdfunding all around the world not just in developing countries. Platforms like Kickstarter ignore most developing countries which is why we can have such a big impact there as well as in countries already serviced by reward crowdfunding platforms that can use ours for free. We nee to be clear here about the difference between the ICO - our crowdraise - and the platform - where we help others to raise. Our ICO excludes US citizens because of the SEC's view on securities. US citizens will not be banned from the platform we create, just the ICO. People who buy the token gain profit if the utility increases and the token goes up in value, so a global platform is the best way to achieve this. Title reads Kickstarter for Blockchain, hmm okay?
Next it reads "free crowdfunding", what in the actual reality does it even mean?
Are you trying to fund projects for free? That's great, then why are you even conducting an ico?
It's absolutely free! To clarify what we're trying to do - we're building a crowdfunding platform that's free to use. So just like Kickstarter this platform is for traditional businesses, not other ICOs. This means small community projects in Kenya or a teck project in California. At the moment the other platforms charge fees, we want to make it free and open access. This means we need to raise money to build the platform, so we're doing an ICO Without the ICO there is no free platform and no global platform that's really accessible in developing countries. There's a good quick overview of the problem we're trying to solve and our solution to it in the one-pager on the website. Could you show us prototype or site image as of now?
Hi Saimonji_miko, We are currently building our MVP, if you head to our website aco.ai you can see our roadmap and technical paper which will provide more detail around this. Also we will have a page on the wbesite going live in the next few days which will showcase projects people wish to crowdfund on our platorm upon its completion. Guys, why your bounty campaigin do not allowed for Junior Members. I`ve learned your WP and wanted it to be mine first bounty but ....
Hi Bujuman, sorry you can't take part, please don't take it personally. We had to limit the program a little and this seemed the best way to do it at the time. Why did you choose the Ethereum platform for your tokens? The Ethereum network suffers from heavy loads. Now there are many alternatives: NEM, QTUM, NEO. The communities of these platforms are very friendly and willing to invest.
Devs, are you in a position to tell which exchanges you are considering? Or am I being premature?
Hi SparkIt. We're considering a few smaller ones we hope to announce in the coming weeks and we're working on the requirements for the smaller exchanges. We can't announce any at the moment I'm afraid but we hope to soon. |
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Your team has grandiose plans. Thanks for answers. However, it is necessary to compete with many existing projects, including those based on the blockchain. For example, KICKICO also positions itself as a crowdfunding platform. And it is already working in full-fledged mode. There are other work platforms. How do you plan to catch up with them? Or Akorn will have some fundamental differences?
Ye, team member says about main differents between Acorn and KickIco, FYI, Kickstarter and other. And he said it quite convincingly. Try to read a bit early KickIco is it Russian project? I remember that this project was in the summer. Did they collect the hardcap? they had problems with tokens I remember many bounty hunters were happy that they would receive a very great reward for their work. I do not know whether the kickico project paid what was promised. I hope the draft ACORN will collect a lot of money and head hunters will receive large payments, because the number of participants is not large We will ensure that everyone who particpates in our bounty program is full paid for their efforts. Guys do you plan start Russian Announcements thread? Russian speakers very active ICO participants (3d place in world) and BH. I asked about Acorn project in few telegram chats and russian community finds this project quite interesting for investments. Absolutely, we are very keen to engage our Russian friends and a Russian Announcements thread will be part of that. Will the burning of the token, if not all will be sold during ICO? Thanks for the answer.
Hello dev, you forgot to answer this question because it is really important for many investors. Will you burn the unsold tokens or not? and when? if you burn coins after entering the exchange then this can raise the value tokens Thanks Coindest definitely an important question, AUruHM had commented on it earlier in the thread but we should have expanded upon it so thanks for the opportunity to do so. If our token sale exceeds the minimum threshold USD 5M, but we do not reach our target of USD 50M in ETH equivalent, we will consider issuing a second tranche of ACO tokens at a later stage. Once we have attained our funding target, we will disable new minting immediately and will never hold another token sale again. I believe in your success but 50 million in ETH equivalent is very big amount on nowadays. More and more ICO projects have recently reached $10-20 million. It means that you will burn the tokens at the last moment? USD 50 M is a large amount but for us to be a truly global platform it is necessary, it also is inline with amount that existing crowdfunding platforms have raised through traditional means, for example Indiegogo has raised USD 56M through various rounds. Once we hit our target we will not ever to go through any further funding. We will not need to burn any tokens as we will only mint enough inline with our raise. yes, the project is amazing. he is definitely on my list of the most awaited ICO. Do you have a minimum contribution limit?
Thanks Morganfreeman 41, there is no minimum contribution limit. Judging by the description of the economy of your token it is solely for use within your ecosystem. But the cost of the token will be regulated by the market. My point is that a startup selling a conventional product 1000 ASO at the rate of$1=1АСО may find that due to the reduction in the price of the token, whan his conditional product is not$ 1,000, and less than this level.
To mitigate any risks of volatility our project founders can choose to set their raise target in our tokens or in fiat. We can do this because we are fudning our platform through a token sale supported by the revenue generating mechanisms within the platform such as purchasing support services and the Acron Marketplace.
Please tell us more about the mechanisms of income generation. I'm interested in what will increase the value of the token in the future. What is the profit for the investor? Backers will be able to fund projects using our token The Acorn Marketplace will enable users to purchase goods and services using the token, The Acorn Local mobile payment app allows point-of-sale transactions using the token, Founders will also be able to buy additional Acorn Support services with our tokens This will ensure high utility of our token, crowdfunding is by its nature is expansive which means project founders will be responsible for bringing in backers to their projects increasing demand for the token. The expansive nature combined with a fixed supply of our token will see the value to the token continue to rise in value as the use of the platforms increases. Guys whats the aim of acorn token in ecosystem of your project? Do you have any features like 'continuos contributor' that I met in other projects? So that holders of acorn tokens get some dividends for certain period of time or it is not applicable in this case? Just wonder. Thank you devs by the way for clear answers on each questions here.
Hi Consigliere, thanks for the great questions, see above for the uses of the token within the ecosystem. We will not be implementing a continous contributor features, the value of the token will simply increase in line with its use. Hey guys if you like Acorn collective,
Check out ANDY ICOreview-https://www.youtube.com/watch?v=lZ258_AfxY8
and Jamie CryptoKoala-https://youtu.be/OFDZ6FeW5wM
Thanks, Jamie, I found this video very informative and useful for me, because I'm not that long in crypto. By the way devs do you offer some special terms on big investments or it goes the same for everyone? Thanks We have made sure that we've offered equally good terms to all contributors whether they be small or large. "4.2 Liquidity Reserve
Initially, a part of our ICO proceeds will be allocated to
our liquidity reserve.
If founders opt to receive their funding in BTC/ ETH or
fiat instead of OAK, we will use funds from our liquidity
reserve to pay them. The additional tokens that we are
holding will then be gradually re-sold on to the open
market.
We have designed this mechanism to make currency exchange easier and to protect
against large currency releases as successful projects disburse funds. As the number of
projects increases over time, the additional demand created for our token will increase
liquidity and minimize the impact of these transactions."
I`m new in cryto, but I find this mechanism intresting. Will it protect investors?
Hi Bujuman, this mechanism has been designed to protect the platform and token holders alike. This means that any fluctuations in crypto value or large project payouts will not have an negative impact on the platform or the value of the token. In the documents there is a mention that the secondary market will also develop for the sale of goods and services of post-crowdsfunding. Will it be right on the platform? How will it look like?
We intend all of the platform to be easy to navigate and as simple to use as possible including the Acorn Marketplace. This will be built into the platform itself and provide a very simple transition for successful project raises to sell their product/service.The look will be very similar to that of most online market places such as Amazon as these have evolved over years to provide people with the most easy and effective eCommerce experience. The secondary market refers more to where we have clusters of projects and backers post-funding. Because we’ll be engaging with accelerators to help develop projects it’s likely that a number of successful projects will appear in one area along with lots of backers. To add value to the projects and improve tokenomics, we’ll create a simple mPOS app that allows people to transact locally in ACO It's a very good idea to create a platform for raising funds as a kickstarter but on the blockchain of the etherium ERC20 tokens. What other advantages does your platform have in addition to reduced transaction fees that are about 5%?
Firstly, it will be completely free to use! The current fees are around 3-5% transaction fees and around 5%+ platform fees. We’ll eradicate both. In addition to that, it will be available in all countries many of whom are unable to use exisitng platforms and will accept any project rather than the select few that are currently accepted onto existing platoforms. We also have other aspects such as The Acorn Marketplace for successful projects to be sold on and project backer insurance for backers to protect themselves against fialed raises. Do you guys have MVP? Or where we can read something related to updates on technique side? Also I wonder where can I find your articles on medium devs if you have them there?
Absolutely, if you check out our website you will find or technical paper and you can find us on medium at https://medium.com/@Acorn.CollectiveWhere can I see ann and whitepaper in other languages (for example Russian)? My language barrier prevents me to explore the idea of the project as a whole.
We are getting Russian translation sorted at the moment, we will announce when they're ready. Is this all ok with whitelist? I've tried to register but nothing's happened. Is it closed or what?
The whitelist is still open, we will have sent you a confirmation email but depending on your settings it may have gone into your spam folder. And what is the current situation with fees? As far as I know, existing platforms have two types of commission. For using the platform and for transactions. How much is this in total? More than 10%?
Ours has no platform or payment fees You’re right, other platforms have payment and platform fees, whereas ours are zero! What will the team do if it does not manage to reach the soft cap? The team plans to organize some kind of contests or airdrops, this is now popular.
Should we not reach our minimum funding threshold, the contributions from our main token sale will be refunded to all investors. Contributions from the Pre-Sale phase will not be refunded and will be used to continue development of our MVP and schedule another coin offering in the future. There are no airdrops planned but we’ve run a couple of competitions on Telegram and we’ll review it over the next few weeks |
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Era of KYC in crypto. Third project that I marked for myself and again KYC...that`s not funny. I guess a lot of people who want to join your crowdsale will think twice...we don`t like KYC! But like Acorn ))) BTW this thread called "ICO ANN..." but here I see that even Pre sale has still not started... Sorry Groovsy, believe me when I tell you we hate KYC just as much as you do. Our bank requires KYC and it’s an important step for us to protect ourselves legally and make sure we can actually put the ICO funds into a bank and spend it. I understand it’s very annoying during the contribution, but I hope it can also demonstrate we are serious and want to protect the company and your contribution. This is something that has been reinforced by our lawyers in Gibraltar. As ICOs become further established this year more and more will use KYC to ensure they are not putting themselves or customers at risk as regulation is becoming a hot topic and we have already seen companies suffer by not implementing these processes. Good catch on the ICO ANN. It has been changed to pre-sale =) Seems one of the promising project of 2018. You are already negotiating with major exchanges?
Thanks for the kind words Toltekayotl, we are currently speaking to a few exchanges, but we haven’t even started our Pre-Sale yet, so it’s still early stages for us in that respect. We’re aiming for quite a large raise and we’re using an ERC-20 token, which should hopefully make listing on exchanges not too difficult I believe that there should be control over the startup funds. Every startup having received funds from its customers must follow the milestones of its project. I mean the expenditure of funds collected by the crowdfunding
Hi Willoweb, we will institute the option of all-or-nothing-funding, take-what-you-raise and also milestones. This can be decided by the founders themselves, but also remember this will have a large impact on the amount of trustworthiness they demosntrate to the community and their backers. Yes of course there is always a risk of fraud, but crowdfunding is generally about social trust and project founders convincing their backers of their honest intentions. Guys what about your main competitors on this field if such exists? I really like your philosophy and approach. Need more time to go through WP. Good luck devs!
There are the established platforms such as Kickstarter and Indiegogo but they can't offer what we can. Our platform will be completely free to use, available in any country and will accept any legal project. We can do this because we are fudning our platform through a token sale supported by the revenue generating mechanisms within the platform such as purchasing support services and the Acron Marketplace. This means we do not need to take a percentage of peoples raises or charge payments fees. Existing platforms are funded in a traditonal way meaning they are beholden to shareholders to deliver returns, hence why they only accept a small number of projects (only the ones that they think are a guarenteed success) and take a share of the raise. Within the crypto space there are ICO crowdfunding platforms but none in the reward and donation crowdfunding space like us, especially ones that are free and allow any project. We don’t want ICOs, we want the boring traditional projects that DON’T need ICOs. A restaurant doesn’t need a token. Neither does a farm or a traditional tech gadget. Thanks for the question and enjoy the WP. What about a large company like kick-starter developing their own token? They might be behind now but large sums of money and manpower could solve that, that said I don't know much about Acorn as a company and how big the team is etc.
They absolutely could, but what prevents them from replicating our model of free, any project and any country crowdfunding is the fact they’ve already been funded by outside equity shareholders. These shareholders expect a return in terms of platform profits, meaning they’d still have to charge fees and only allow projects that generate a reasonable return. They still haven’t crowdfunded their crowdfunding platform. We can afford to be free and use our revenue generators to keep the platform sustainable only, without generating large profits and draining money from the founders and our ecosystem. The founders of our own company get rewarded by holding the token. 16.66% of tokens will be allocated to the company owners, which are under time-lock for 1 and 2 years and align their interests with those of outside token holders. Crowdfunding it is really a very good task for platform on blockchain. But if your platform is free, then why do you need it? What will be your income and incentive for development?
Our vision is to be bring greater access to funding to the whole world, including developing countries currently shut out by traditional platform. Of course there will be ongoing costs associated with running the platform so there are revenue generating mechanisms built into the platform on top of the increasing value of the token itself via the growth of The Acorn Collective ecosystem. This effect is enhanced by the expansive nature of crowdfunding with project founders bringing new users to the platform to back their projects. The mechanisms in place vary from support services to be purchased, paid featured projects and the operations fund established through funds raised in the ICO. As I understand it will soon begin ICO. I'm interested will be identified as basic requirements passage of KYC?
For our KYC requirements ID and recent proof of address will be required. Is there any direct benefit for token holders like voting rights, participation in revenue? After all, for example, in a kickstarter, you get only the goods / service, you will have the same?
Our platform will follow in the Kickstarter model in that respect so there won't be and equity or voting right for token holders. A very big difference in prices between presale and main sale) Many investors take this into mind when analyzing the project. Is there some kind of pre-sale token freeze ?
Hi Departure, The reason for the large difference in price is because participating in the Pre-Sale would be considered an early contribution that carries more risk because we need those funds immediately to grow awareness and continue MVP development. As such, there are no refunds for Pre-Sale contributors and the 50% discount is intended to reflect that risk, yet still be an attractive proposition for ICO participants. Seems one of the promising project of 2018. You are already negotiating with major exchanges?
I think that at the current stage of development of the project is still too early to negotiate any exchanges. This should be done towards the end of the ICO I think it's never too early to negotiate with the exchange. Some projects immediately after the end of ICO fall on the exchange, while others can't get in there for months. Absolutely, that's why we've begun our conversations now with a view to appearing on exchanges immediately after the ICO. A very big difference in prices between presale and main sale) Many investors take this into mind when analyzing the project. Is there some kind of pre-sale token freeze ?
Yes, this discount seems to me very large. Frequently a lot of attention is paid to such things when making a decision. Also interesting the question whether the tokens obtained with a significant skippage will be kept. After all, they can immediately appear on the exchange Sorry what do you mean with skippage? Do you mean discount? No, they won’t be locked so they could still be sold on an exchange immediately. However, the overall tokens in the Pre-Sale (7m tokens) is very low compared to the max cap (90m tokens) should we reach our hard cap. Even if we only reach our funding target at ~50m tokens, it still wouldn’t represent a huge percentage of total supply. By the way phenomenon of ICO in crypto-currencies shows that people are increasingly inclined to participate in crowdfundinig. A direct link between production (startup) and the end user will reduce the costs of intermediaries. I took part in several companies on Kickstarter - quite successfully for myself)
A great insight, crowdfunding is an ever-growing industry its estimated to reach $90 Billion - $1 Trillion by 2025 according to the World Bank Group, though with the explosion of ICOs this could happen sooner rather than later. Will the burning of the token, if not all will be sold during ICO? Thanks for the answer.
Hello dev, you forgot to answer this question because it is really important for many investors. Will you burn the unsold tokens or not? and when? if you burn coins after entering the exchange then this can raise the value tokens Thanks Coindest definitely an important question, AUruHM had commented on it earlier in the thread but we should have expanded upon it so thanks for the opportunity to do so. If our token sale exceeds the minimum threshold USD 5M, but we do not reach our target of USD 50M in ETH equivalent, we will consider issuing a second tranche of ACO tokens at a later stage. Once we have attained our funding target, we will disable new minting immediately and will never hold another token sale again. Hi, I have read your White Paper, everything quite clear for me except one point.
How are u going to be profitable? I mean how the project is going to bring the money for founders? Maybe I missed smth, thx in advance for the explanation
Hi Kerandiad, a good question. On top of the the benefit of the growth of The Acorn ecosystem we have several revenue generating mechanisms within the platform including paid for featured projects, The Acorn Marketplace where successfully backed projects can be be sold and support services such as marketing and legal assistance. As well as this we have the operations fund built into a our fund raise allocated to assist operational costs in the medium to long term. This makes for a profitable company that rewards the founders. Within the ICO there is a founder allocation of 20%. This means that whatever the raise is, we will mint a further 20% and allocate those tokens to the founders - these tokens are timelocked at 10% for one year and 10% for two years so the founders have a vested interest to ensure the platform is successful in order to get rewarded. Just found out yourproject, didn't read the whitepaper yet.
Could you briefly explain what your project is about?
Hi Hitchcock, In short we are building a crowdfunding platform, think Kickstarter or Indiegogo except ours is completely free to use, accepts any project and is available in any country. The ACO token will be at the centre of the platform and will be used to back projects, pay for support services and can be used in the Acorn Marketplace to buy products or services of successful projects. If you'd like a slightly less brief brief here you can find our one pager and whitepaper at aco.ai |
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Can US citizens invest in your project? Investors must undergo the KYC procedure?
Sorry, unfortunately we can’t accept US participants due to the current legal environment there. We’d love to, we hate this as much as you do. Who can to stop participate in crypto if you have strong wishes? So many possibilities for this. Cryptobudgie have you chance to bought tokens by fiat? Or crypto only? Our tokens are only available via Ether for our ICO, when the platform is built we intend to connect with the APIs of exchanges and popular wallets to integrate them into our platform, creating a frictionless environment to purchase our ACO tokens. Oh, thanks for response. Are you plan to integrate some KYC solutions on platform? It's very important feature for some countries. May be ready, may be own? We will be fully compliant with KYC & AML regulations and will be partnering with IdentityMind to ensure this. We’re using Identitymind (IDM) both for the ICO and probably for doing checks on project founders when the platform is completed. |
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Can US citizens invest in your project? Investors must undergo the KYC procedure?
Sorry, unfortunately we can’t accept US participants due to the current legal environment there. We’d love to, we hate this as much as you do. Who can to stop participate in crypto if you have strong wishes? So many possibilities for this. Cryptobudgie have you chance to bought tokens by fiat? Or crypto only? Our tokens are only available via Ether for our ICO, when the platform is built we intend to connect with the APIs of exchanges and popular wallets to integrate them into our platform, creating a frictionless environment to purchase our ACO tokens. |
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Well, we're running an ICO to fund our own platform, but this crowdfunding platform itself will be more like Kickstarter/Indiegogo, in the sense that our target projects are traditional, not necessarily tech-related projects that do not need their own digital coin or run an ICO by themselves. Hope that makes sense Guys, will be any escrow in your platform? And what about some experts/help for crowdfunding novics? Yes, the crowdfunding campaign contributions can use escrow which will be operated by us. We will be the escrow service for the campaigns that use that and we expect most of them to be at a size of a few thousand up to several hundred thousand. As to your second question, absolutely, it's vital to us that our platform is as easy to crowdfund on as possible as we will be a global platform and many regions will not have used such a platform before as they are currently ignored by existing platforms. On top of this we will be producing helpful content from experts to guide people, as well as bespoke campaign support services (entirely optional, but for a percentage fee) available within the platform where crowdfunding strategists and marketers will be available. At the moment we have David Ives the ex-CTO of Crowdcube on our advisory board to assist us at in our early stages and we fully intend to grow this knowledge base as time goes on. Hello Acorn community, Had an awesome chat with Andy ICO review another Australian Youtuber! We discuss a few ICO's Firstly Guardian circle & Acorn collective a couple ICO?s with a strong sense of ethics and morality. Showing how Blockchain can be used for charity and emergency services. We have also had a glance BITCAR an Australian ICO and The bee token The future of home sharing. https://youtu.be/LWhIg6TK0X4Not bad. I watch with pleasure. Team, can we get more news or details about roadmap? Or any partnerships? What about Kickstarter reaction on your announce? Our 50% public pre-sale is coming up on the 29th of this month and will be running for three weeks, followed by the ICO in March/April. The MVP version of our platform is due for completion in the middle of this year. We are ever looking to grow our current list of partners currently we are proud to have Drie who are AWS security experts, The European Crowdfunding Network, Triay & Triay our Gibraltar legal advisors and Bancor to ensure instant token liquidity among ethereum network tokens. We are currently involved in late stage conversations with many accelerators in developing countires regarding partnerships and hope to begin announcing them soon. As far as Kickstarter goes; we're looking forward to their reaction as much as you are! =) Will the burning of the token, if not all will be sold during ICO? Thanks for the answer.
I also interested in this question. Situation with 1kk ARN from Aeron forces to think how team work with unsold and frozen tokens As I see in WP if funding goal do not reach team will plan to another ICO round (s). While not raising. I don't know bad or good it. For successful project no matter how rounds. But for bad - also no matter Oh, thanks. I read WP obliquely. I need to learn deeper it. Guys, are you sure that people will choose your platform because no fee only? What other features different from today's crowdfunding working platforms? Can you explain the the incentive for holding the token if the token holders wont receive a part of the revinue, even kickstarter has a revinue sharing incentive, right?
Sure. The first reason is the token allows people to use our platforms, which include the crowdfunding hub, a secondary goods & services marketplace, a point-of-sale payments app and also campaign support services (for project founders) Of course, on the other hand, we expect the main reason for most tokenholders will be token value appreciation, which we hope will be robust thanks to our Token Growth & Stability Mechanisms mentioned above or in the whitepaper/one-pager. Feel free to ask me any quesitions about it though! Okay...So, the incentive is that holding the coin allows the holder to participate in a crowdfunding project in which they will receive no return on their investment? <--- That aspect of the proposal is a bit confusing to me ---> I don't understand what the incentive is to help fund a project if there are no returns for participation. And, if giving away the token is its primary utility, how will the token appreciate in value? Even if the token provides access to a platform that allows the holder to give away their tokens, I don't see where the "appreciation" comes from ---> am I missing something? Hi guys, these two points share a lot of the same answer. As far as why people will chose us above existing platforms we've put various mechansims in place to ensure early adoption including matching peoples raises, project backer insurance and affiliate rewards. We will have less requirements in terms of project criteria (such as how much seed funding is already, working prototype, existing social following, how ‘innovative’ or ‘creative’ the project) and operate in all countries, incl those not accepted on the other big platforms currently. We want projects like tech gadgets in the USA or developed countries (where we are free and less restrictive to join) and also projects like a farm in Africa, a football academy in South America or a family entertainment park in Lithuania (where there are often no other funding options avilable) Crowdfunding itself is an expansive concept. Each project must market itself and find it’s own backers, meaning every project potentially bring in a lot of new backers to use our token. Since the token supply is fixed, it means there will be an ever-growing number of people trying to obtain a fixed number of tokens. As well as these elements there is the Acorn Marketplace; a secondary marketplace to sell post-crowdfunding goods & services, a point-of-sale payments app and the ability to purchase support services, such as marketing, within the platform all using the ACO token. Not only are these great features but are also central to why the ACO token will have such a high utility and will ensure a sustainable ecosystem. This sustainability, these features and the fact the crowdfunding market is still in it infancy, with a potential to reach anything from USD 90B to 1 trillion per year by 2025 (World Bank, 2013; MyPrivateBanking,2015), means that there’s a huge crowdfunding market that exists already and a large one that isn’t being serviced by any of the existing platforms (especially for developing/emerging countries) And as far as the incentive to back a project is concerned we will be operating a rewards based crowdfunding platform meaning that backers' of projects will receive rewards in exchange, if you were funding a new smart watch startup, they'd send you a watch in exchange, this aspect is the same as existing platforms such as Kickstarter or Indiegogo. Can US citizens invest in your project? Investors must undergo the KYC procedure?
Sorry, unfortunately we can’t accept US participants due to the current legal environment there. We’d love to, we hate this as much as you do. |
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