A Fair ICO Model: RoosterRed’s Uncapped Blind ICO Auctions

[RoosterRed]

In my Uncapped Blind ICO Auction model there is no set amount of money that an ICO can raise. There is no set amount of participants either. Everyone that wants to participate can participate, and the company raises the maximum amount of money it can.

A company will thoroughly outline its ICO. Participants in the ICO bid two numbers: The amount of money they are offering in the ICO, and the highest market cap they will tolerate.  Participants are ranked first by market cap and then by time of bid. Participants cannot see each other’s bids. A Smart Contract collects all the funds and finds the maximum market cap that can be funded with the bids. Participants who were priced out or positioned out are automatically refunded.

Read the whole proposal!
https://steemit.com/ico/@roosterred/a-fair-ico-model-roosterred-s-uncapped-blind-ico-auctions

[1713532242]

1713532242

[1713532242]

1713532242

[1713532242]

1713532242

[1713532242]

1713532242

[1713532242]

1713532242

[1713532242]

1713532242

[RoosterRed]

The advantages of RoosterRed's Uncapped Blind ICO Auctions are many.
1. Every single ICO participant gets a fair deal.
2. Token prices will still tend to rise post ICO.
3. It will encourage places like China to allow ICOs.
4. Companies get as much money as they can fairly get.
5. You can slightly alter the system to favor the little guy.

[RoosterRed]

 When I refer to market cap it is to the market cap of the public token sale (for simplicity). The total market cap and circulating market cap can both be derived easily given a specific situation. I focus on this market cap rather than token price for two reasons. First, it will force the ICO company to be forthcoming and crystal clear about the breakdown of its token sale. Two, it will force ICO participants to truly evaluate the ICO terms and the market value of the token.

[bathrobehero]

fair-ico

Ahahahaha... Bwahahhaha, you're so retarded funny!

[RoosterRed]

fair-ico

Ahahahaha... Bwahahhaha, you're so retarded funny!

Read the whole system. It guarantees that every single person buying into the ICO is happy about the final price. It also allows everyone to participate, so whitelist spots are not be sold. Everyone has a chance. No one gets screwed.

[RoosterRed]

I have changed things slightly and added modifications many companies would want to use. Take a look!