Is there a minimum amount that will need to be invested in total so that this project will be not be able to launch without?
The project has been financed in full by the Founders to date. Shortly, it will release the quotation from Draglet for building the three main components of the DAO, with milestones. This will come in around €150,000 and will be made public. The donation campaign agreement will note that the project can raise additional funds if the pre-ICO does not raise enough, and a provision will exist to refund participants. Of course, there is also the option for the Founders to continue to fund it. The reason for not setting a hard cap in a smart contract that could trigger a repayment if, for example, it fell $1 short, is that at this stage of funding there are so many routes to getting to the ICO. We intend for this to be an open dialogue, and the decision will rest with the question of viability.
It is a great thing to know that this project is funded well by the investors and the developers. So it definitely have a good ICO start up on the market. I am hoping and looking forward for further development and progress of this project. I hope that the developers and team will updated soon for us to know the changes and development.
I wanted to use this comment to weigh in regarding the state of play. This is because joganuts has really "done the reading"!
It is a fact that a double whammy hit our pre-ICO:
1. The whole crypto community had just experienced a massive crash in price, which only hit a floor two days before our pre-ICO.
2. The day before our pre-ICO the CoinDash team failed to conduct their ICO securely and $7million was stolen in the first few seconds of their ICO.
Many of the comments are looking at the "soft cap" which was choosen purely to reflect the WINGS forecast of around 15000 ETH. The WINGS forecast is outside of our control but obviously we could not cap far beneath its median, and it seemed logical to soft cap above the median.
Joganuts points to a key project figure of €150k, which is the costing from draglet.com for delivering the six modules of the ACT platform by 18th January 2018 (and first 3 before 18th November). We published this costing and project plan, in fact.
At the time of writing, and with 12 days still to run, the crowdsale has raised $150k. What does this say about the project? It says that this project as as on as it could be. This is a pre-ICO struck by extraordinary circumstances outside of its control but which the project - though happy to engage with all the ambition promoted through WINGS and by others - has been able to weather due to its design, conservative approach, and planning.
So, relating to points 1 and 2 where are we?
"2" did not happen on ico.daoact.org obviously because it sits behind Amazon Web Servers and Cloudflare rather in some server (perhaps in some kids bedroom).
"1" is now history. The rally has been strong and, if we are to be honest, the crash was expected and due.
What remains is the fact that the ACT project is 100% on track and that there remains the quite extraordinary opportunity to buy in at the 10x platinum rate. That means that if you do, your .1 ETH 1 ETH 10 ETH will secure as many ACT tokens as an ICO participant paying ten times that amount just four months from now.
Its up to folk like joganuts and other great people on this forum to keep doing the math. We are focused on the build now, but here to chip in where we can help.
