The Monaco ICO looks intriguing. They basically launch an ICO that gives out token to allow profit sharing from their future businesses that run cryptocurrency-enabled credit card.
The Monaco ICO coins are called MCO tokens.
In the white paper it says:
"
During the Token Creation Event, we imagine that exactly 1,000,000 MCO are created in response to incoming payments.
After the Token Creation event ends, the following additional MCO are created:
• 1,000,000 MCO for the Reserve
• 833,333 MCO for the Founders
• 333,333 MCO for the Talent Pool (future hires)
• 166,667 MCO for the Advisors
In total, 3,333,333 MCO are created of which 1,000,000 MCO are transferable upon the completion of the Token Creation Event.
"
That would actually mean that 1,000,000 MCO are created for the public after raising, most likely, 150000ETH. That means ~36.75 million USD.
My question is:
1. Since the founders, advisors and employees are issued 1.3million MCOs, wouldn't that dilute the value of each MCO coin to more than half since the total MCO will become 2.3mil immediately from 1mil (not even factoring 1 mil reserved MCO)?
So one MCO would really turn from 0.15ETH to 0.0652ETH.
PS: I know there is escrow for founder not to cash out and upward value for MCO. But I am getting the math right way how the founders and advisors are profiting, right?
Question: What does this mean actually?-
MCO Asset Contract accrues a 1% licensing fee on transactions using the Monaco Card funded with ETH/BTC, as well as exchange transactions between ETH/BTC and fiat currencies. Over time MCO will be backed by a portfolio of the most popular ERC20 tokens. MCO holders will be able to access the portfolio through a mechanism called “REDEEM & BURN"
