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October 10, 2017, 11:01:59 AM |
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I am kind of astonished by the "let the market put the price" strategy followed on some ICOs. Precisely, when I was reading the Dragonchain ICO the conditions seem to be the following:
- There is no cap to the contributions.
- There is a limited number of tokens.
- The tokens would be distributed among all participants as per they percentual contribution.
Example: 5 users put 1, 2 ,7, 1, and 4 USD each. Since there are (let say), 1500 tokens, they receive 100, 200, 700, 100 and 400 tokens each.
However, as an investor, I cannot really determine how much am I paying, how much is the total valuation of the company nor how much of a stake I am going to get since I do not know the contribution of others. There is no way on earth I am going to invest without knowing these 3 thing.
Am I missing something or is just an evident scam?
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