checking ICO - example

[mrfckumn]

hi guys,

I'm interested to find a good ICO and I want to know, if I understand it correctly, what I know so far:

example (random coin on https://coinmarketcap.com) DISCLAIMER - know NOTHING about coin! zero invest! just a random coin for study the ICO

BELT

when I check https://coinmarketcap.com/currencies/belt/

I see that they wanted
Fundraising Goal $3,000,000

but when I check their wallet

Contracts Binance Smart Chain
0xE0e514c71282b6f4e823703a39374Cf58dc3eA4f

there is ZERO value on etherscan
https://etherscan.io/address/0xE0e514c71282b6f4e823703a39374Cf58dc3eA4f

but there is a price for coin
Belt Price (BELT)
€146.85


and they are on following markets:
PancakeSwap

BELT/BUSD
€146.84   
with volume in 24 hours: €10,661

so my question is:

did they get NOTHING in ICO (like ZERO money) and then, they just added coin on pankakeswap with price 64USD as a start? and now, somebody bought more coins so price is 146USD?

did I got it right?

[Yogee]

Contracts Binance Smart Chain
0xE0e514c71282b6f4e823703a39374Cf58dc3eA4f

there is ZERO value on etherscan
https://etherscan.io/address/0xE0e514c71282b6f4e823703a39374Cf58dc3eA4f

You are looking at the wrong scanner. Etherscan is for ethereum tokens.

Use bscscan.com for bep-20 tokens.
Here's the correct link https://bscscan.com/address/0xE0e514c71282b6f4e823703a39374Cf58dc3eA4f

Explore the tabs on coinmarketcap the next time you want to use it as reference. There is a "Explorers" tab right under each assets name.

[zasad@]

One of the best services for checking ICO
https://cryptorank.io/
For example: paid-network
https://cryptorank.io/ico/paid-network
Here you will find all the statistics about private sales and the prices of the token on the ICO.
But it's better to ask users for advice before deciding to invest.

[mrfckumn]

hi Yogee,

thanx man! makes sense - I had no idea that we can scan also tokens, not only ether.
btw that coin has only 2377 USD in 200 pankakeswap, 50 belt and 3 BNG = so they didn't get 3'000'000USD at all or they maybe transfered that funds?

some not scammy, serious ICO will hold value of 3'000'000 USD at total tokens?



@zasad,

thank you - looks really pro web site, I'm checking it already

[southerngentuk]

One of the best services for checking ICO
https://cryptorank.io/
For example: paid-network
https://cryptorank.io/ico/paid-network
Here you will find all the statistics about private sales and the prices of the token on the ICO.
But it's better to ask users for advice before deciding to invest.

These are the channels that I follow about my upcoming projects that are really helpful to me.
Also, a website for quite some time but I still evaluate it very well is https://icodrops.com/

[cryptoaddictchie]

Possibly they do a stealth launch and some traders buy in during those time. Usually some projects doing like that to have some instant liquidation but for some serious developers who have some deep pocket they can always put their own money into it. As a developer if you are serious with a project putting your own money wouldn't be hurt especially you knew there is a potential later on.

The best and only for me to find a good ICO is icodrops mate. Other than that I don't have clue which are the most highly recommended.

[Yogee]

hi Yogee,

thanx man! makes sense - I had no idea that we can scan also tokens, not only ether.

You can do that in every coin or token on different blockchains. They have their own explorers.

btw that coin has only 2377 USD in 200 pankakeswap, 50 belt and 3 BNG = so they didn't get 3'000'000USD at all or they maybe transfered that funds?

They are using a different wallet for receiving payments from investors in exchange BELT tokens. You won't probably track them if you are not an investor yourself since each investor is given a private wallet to send.

[JeffBrad12]

did they get NOTHING in ICO (like ZERO money) and then, they just added coin on pankakeswap with price 64USD as a start? and now, somebody bought more coins so price is 146USD?

did I got it right?

FYI, the contract address that already issued on binance chain will never appear on ethereum caused by it's only working on BSC but the address will become a normal address in ethereum chain when you are switching from BSC rpc to the ethereum rpc.

Im not sure about how much they have got and why didn't ask the developer directly by joining on its telegroup?
As far as i know, the price can be determined by the developers themselves by adding liquidity. When someone buy it and the liquidity will increase along with the price of coin too.

[ryzaadit]

so my question is:

did they get NOTHING in ICO (like ZERO money) and then, they just added coin on pankakeswap with price 64USD as a start? and now, somebody bought more coins so price is 146USD?

did I got it right? Smiley

No.

You are checking on the contract address dude, that address not used for the token sale try to ask them or maybe some of participants who joined their sale on Pancake Swap. According to their medium, they raised a money around 3,000,000$ from IFO on PancakeSwap.

[mrfckumn]

@why didn't ask the developer directly by joining on its telegroup?

it's a random coin I just want to understand the system so to be able to check next coins in future. I was thinking that contact address is the one where millions are stored after ICO

[Yogee]

.... I just want to understand the system so to be able to check next coins in future. I was thinking that contact address is the one where millions are stored after ICO

This is probably how it went down in the case of BELT token sale,
1. The project team cuts a deal with the exchange.
2. Tokens up for sale are sent to PancakeSwap.
3. Qualified investors send BNB or other accepted coins to the address provided by PancakeSwap.
4. PancakeSwap releases BELT using smart contracts to investors.
5. PancakeSwap and BELT team share the funds according to their agreement.

[Jaered]

You wouldn't go wrong by checking out Student Coin ICO. It is going on right now as we speak, and has garnered more than 5 million dollars from investors. Once again, do your due diligence

[Coin_trader]

hi guys,

I'm interested to find a good ICO and I want to know, if I understand it correctly, what I know so far:

example (random coin on https://coinmarketcap.com) DISCLAIMER - know NOTHING about coin! zero invest! just a random coin for study the ICO

BELT

when I check https://coinmarketcap.com/currencies/belt/

I see that they wanted
Fundraising Goal $3,000,000

but when I check their wallet

Contracts Binance Smart Chain
0xE0e514c71282b6f4e823703a39374Cf58dc3eA4f

there is ZERO value on etherscan
https://etherscan.io/address/0xE0e514c71282b6f4e823703a39374Cf58dc3eA4f

but there is a price for coin
Belt Price (BELT)
€146.85


and they are on following markets:
PancakeSwap

BELT/BUSD
€146.84   
with volume in 24 hours: €10,661

so my question is:

did they get NOTHING in ICO (like ZERO money) and then, they just added coin on pankakeswap with price 64USD as a start? and now, somebody bought more coins so price is 146USD?

did I got it right?

As already explained. They hide there funds using some stealth mode code so that they will have privacy on allocation and distribution for it. Regarding the price, the coin price usually starts on ICO price and most of the ICO right just sell a limited amount so buyer that didn’t buy during the ICO will buy the token on exchange. During the initial listing of the token. The project are requires to provide there own token and fiat for liquidity on order book, so they are the one who will set the initial price when listed on exchange.

[amishmanish]

it's a random coin I just want to understand the system so to be able to check next coins in future. I was thinking that contact address is the one where millions are stored after ICO

I think it is worth the hassle AND the right approach to try and look at the blockchain history of contract deployer as well as the contract itself. If nothing else, it will make you adept at recognizing transactions as well as some expertise with the technical aspects.
I am sure that those who have the code wizardry to automate these tasks using API, must do it rather than sift through all the transactions manually.

.... I just want to understand the system so to be able to check next coins in future. I was thinking that contact address is the one where millions are stored after ICO

This is probably how it went down in the case of BELT token sale,
1. The project team cuts a deal with the exchange.
2. Tokens up for sale are sent to PancakeSwap.
3. Qualified investors send BNB or other accepted coins to the address provided by PancakeSwap.
4. PancakeSwap releases BELT using smart contracts to investors.
5. PancakeSwap and BELT team share the funds according to their agreement.

Could you please explain a bit that how did you come to this conclusion? That contract was deployed by this address as per the first transaction for the token contract. The transaction history is filled with "contract creations". Usually it should be just one "Contract creation" and the rest some sort of multi-sends of the token itself. This actually was a little unlike what I have usually seen myself. Any pointers would be well appreciated. Thanks in advance.