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Author Topic: Cofound.it ICO evaluation and mentoring platform discussion  (Read 74101 times)
Wapinter
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June 06, 2017, 12:40:51 PM
 #81

Hi,

we're moving funds to multisig. Here's the list: https://etherscan.io/address/0x55AE5792903b179915E10065E26610435832A3F7#internaltx

Hubs are a crucial part of our strategy. Local presence acts as a sales funnel, expert attractor and helps with project evaluation as we want to meet each team we work with in person.
Thanks for providing this info.Will ICONOMI also invest in cofound or would it be vice versa ? Sorry if it has already been answered somewhere

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Cofound.it (OP)
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June 06, 2017, 12:43:39 PM
 #82

Hi,

ICONOMI already gets 10% of Cofound.it tokens. Not sure if ICNP plans to invest.
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June 06, 2017, 12:57:50 PM
 #83

Hi,

ICONOMI already gets 10% of Cofound.it tokens. Not sure if ICNP plans to invest.
So out of 12.5 millions tokens on sale during crowdsale,ICONOMI already own 1.25 m cofound tokens?

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June 06, 2017, 01:02:08 PM
 #84

More in this post:
Hi,

great question. Yes - and no. I'll go into a bit more detail about our thinking on this - tell me what you think.

One of the functions of the token for the tokenised companies is the function of equity - regardless of how the token is actually defined. Although CFI is defined as a utility token,  for us it also represents equity. We will never sell off parts of the underlying company. The actual legal entity is like a janitor, nothing more - tokens are key.

Given that role we feel that most of the projects sell off too much tokens at the beginning of their journey. There is a reason startups do not sell 85% of their equity in the seed round. It's not about how much money they would receive for it. It's about retaining flexibility for the future. For regular startups that might include selling later, but more importantly it could serve the role of cementing the relationship with key partners. You simply cannot predict everything at the very start - it's wise to keep some sort of reserve for future flexibility.

When a company grows large enough it has to take its place in the value chain with the established players. They have two options - accept the new company or try and squish it out of existence. A share in the equity is typically used to make sure the other companies accept it - then, its success becomes their success.

Something similar holds true for tokenised companies - except that at the moment we're all so small and swimming in such a small pool that the big guys don't care about it. But what happens with Cofound.it in 2,3 years when we really grow? Our plan is to have a stash of tokens we can use to partner with the key players from the old and new economy. This reserve will be on a public address and constantly auditable by all so you can make sure we're not selling it or anything - we will communicate our plans for this transparently (but, again, not for at least 2 years).

And that is the main reason for the 25% of reserved tokens. We do not intend to use them to raise more money, but to ensure our place in the ecosystem.

20% go to purchase Cashila assets and know-how. Cofound.it is built upon the know-how and code developed by Cashila for the ICONOMI ICO and the core of the idea was developed by them, not me or Daniel. Plus, we want to make supporting Cofound.it crowdsales for people new to crypto economy as simple as possible - ideally one-click! For that we need the fiat-crypto gateway and Cashila already has one.

10% go to ICONOMI that supported Cofound.it (and still supports it) both financially and by providing guidance and access to their network.

5% are reserved for advisory team. You've seen our advisory bench and I think you have to agree that experts like those are worth it.

And 15% are reserved for the team, vested over 24 months with a 6 month cliff.

I think that Gnosis has showed that the actual % does not really impact token price. What matters is what happens to the rest - does it hit the market, causing the price to plummet, or not. Team is vested, ICONOMI considers this a long-term investment, and Cashila founders and VCs are experienced investors who realise what happens when you dump tokens so I have no fear of that.

We did not come to this decision lightly. It would be easiest for us to go the usual way and we would definitely have an easier task at communicating our crowdsale. But we are building Cofound.it for the decades ahead and have thought hard about what challenges might await us. Our token distribution strategy reflects that.

Welp, this got a bit too long - sorry Smiley

Jan

Update: 85% full in presale (public sale starts tomorrow).
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June 06, 2017, 03:43:23 PM
 #85

more then 12 mill antil now.....
https://etherscan.io/address/0x55ae5792903b179915e10065e26610435832a3f7#internaltx
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June 06, 2017, 05:01:33 PM
 #86

this will soldout before ICO lol

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June 06, 2017, 06:04:17 PM
 #87

this will soldout before ICO lol

High possibility  Cheesy

51686.80280200 out of 56565 ETH (91.38%)

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June 06, 2017, 07:49:38 PM
 #88

I wonder how the public will react after it's found that they favored people who follow the project over whale investors. Seems good to me on paper, but there might be a lot of outrage.

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June 06, 2017, 07:56:05 PM
 #89

I wonder how the public will react after it's found that they favored people who follow the project over whale investors. Seems good to me on paper, but there might be a lot of outrage.

Yes, it'll be bad for who is waiting the public sale.
I don't think team would wait this kind of interest from early investors.
Cofound.it (OP)
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June 06, 2017, 08:54:11 PM
 #90

Note: we have another fun kind of scammers in our Slack, spamming "PP application" phishing forms. The applications are closed. Please do not click weird links from strangers - good advice for life, not just Cofound.it crowdsale Smiley

In unrelated news, 54157 ETH / 95.74%
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June 06, 2017, 09:34:49 PM
 #91

Note: we have another fun kind of scammers in our Slack, spamming "PP application" phishing forms. The applications are closed. Please do not click weird links from strangers - good advice for life, not just Cofound.it crowdsale Smiley

In unrelated news, 54157 ETH / 95.74%
'This is great.Most probably it will reach the target tomorrow.If that happens and there will be no ICO for public,will tokens be unlocked after 14 days from tomorrow or will it be unlocked 2weeks after 7th july?
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June 06, 2017, 09:45:48 PM
 #92

Hey,

2 weeks after July 7th is the max possible time if the crowdsale lasts for the whole duration. We'll change the lock period to that agreed with exchanges.
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June 07, 2017, 05:14:19 AM
 #93

I was monitoring this ico to invest today once it should open. But this was sold out before ICO.
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June 07, 2017, 05:52:30 AM
 #94

Small investors will participate . There won't be any big us investors the opportunity .

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June 07, 2017, 07:46:48 AM
 #95



Thank you to all our supporters!

Please feel free to keep up the discussion about Cofound.it - I'm not going anywhere, but it might take me a while to answer.
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June 07, 2017, 08:54:11 AM
 #96



Thank you to all our supporters!

Please feel free to keep up the discussion about Cofound.it - I'm not going anywhere, but it might take me a while to answer.

Congrats!

It was great success, just members-funding  Cheesy
I guess this is the first example among ICOs
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June 07, 2017, 09:42:58 AM
 #97

Congrats, cofound.it team  Cool
It was good one, now waiting some exciting news  Wink

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June 07, 2017, 10:16:11 AM
 #98

In my opinion these people are idiots - totally disorganised ICO and not clear at all

It sold out in the pre-sale from what I hear...though they said it would open at 11am EST today

Capping their funds like that is the height of stupidity...they could have easily tripled their money if they stuck by their word

I view this organisation as disorganised and lacking common sense
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June 07, 2017, 10:57:58 AM
 #99

In my opinion these people are idiots - totally disorganised ICO and not clear at all

It sold out in the pre-sale from what I hear...though they said it would open at 11am EST today

Capping their funds like that is the height of stupidity...they could have easily tripled their money if they stuck by their word

I view this organisation as disorganised and lacking common sense

You're saying they should've rised $37.5m for 25%. So that means Cofound value is $150m. Wouldn't that be overvalued?
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June 07, 2017, 11:03:41 AM
 #100

In my opinion these people are idiots - totally disorganised ICO and not clear at all

It sold out in the pre-sale from what I hear...though they said it would open at 11am EST today

Capping their funds like that is the height of stupidity...they could have easily tripled their money if they stuck by their word

I view this organisation as disorganised and lacking common sense

You're saying they should've rised $37.5m for 25%. So that means Cofound value is $150m. Wouldn't that be overvalued?

Doesnt matter if its overvalued...what matters is they have the money in their hands to give themselves a head start

To cut themselves short like that lacks common sense imho

They could have easily raised significantly more

But anyway, it is what it is

I see it as being a disorganised ICO with poor communication....
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