Your team has grandiose plans. Thanks for answers. However, it is necessary to compete with many existing projects, including those based on the blockchain. For example, KICKICO also positions itself as a crowdfunding platform. And it is already working in full-fledged mode. There are other work platforms. How do you plan to catch up with them? Or Akorn will have some fundamental differences?
Ye, team member says about main differents between Acorn and KickIco, FYI, Kickstarter and other. And he said it quite convincingly. Try to read a bit early
KickIco is it Russian project? I remember that this project was in the summer. Did they collect the hardcap? they had problems with tokens
I remember many bounty hunters were happy that they would receive a very great reward for their work. I do not know whether the kickico project paid what was promised. I hope the draft ACORN will collect a lot of money and head hunters will receive large payments, because the number of participants is not large
We will ensure that everyone who particpates in our bounty program is full paid for their efforts.
Guys do you plan start Russian Announcements thread? Russian speakers very active ICO participants (3d place in world) and BH. I asked about Acorn project in few telegram chats and russian community finds this project quite interesting for investments.
Absolutely, we are very keen to engage our Russian friends and a Russian Announcements thread will be part of that.
Will the burning of the token, if not all will be sold during ICO? Thanks for the answer.
Hello dev, you forgot to answer this question because it is really important for many investors. Will you burn the unsold tokens or not? and when?
if you burn coins after entering the exchange then this can raise the value tokens
Thanks Coindest definitely an important question, AUruHM had commented on it earlier in the thread but we should have expanded upon it so thanks for the opportunity to do so. If our token sale exceeds the minimum threshold USD 5M, but we do not reach our target of USD 50M in ETH equivalent, we will consider issuing a second tranche of ACO tokens at a later stage. Once we have attained our funding target, we will disable new minting immediately and will never hold another token sale again.
I believe in your success but 50 million in ETH equivalent is very big amount on nowadays. More and more ICO projects have recently reached $10-20 million.
It means that you will burn the tokens at the last moment?
USD 50 M is a large amount but for us to be a truly global platform it is necessary, it also is inline with amount that existing crowdfunding platforms have raised through traditional means, for example Indiegogo has raised USD 56M through various rounds. Once we hit our target we will not ever to go through any further funding. We will not need to burn any tokens as we will only mint enough inline with our raise.
yes, the project is amazing. he is definitely on my list of the most awaited ICO. Do you have a minimum contribution limit?
Thanks Morganfreeman 41, there is no minimum contribution limit.
Judging by the description of the economy of your token it is solely for use within your ecosystem. But the cost of the token will be regulated by the market. My point is that a startup selling a conventional product 1000 ASO at the rate of$1=1ACO may find that due to the reduction in the price of the token, whan his conditional product is not$ 1,000, and less than this level.
To mitigate any risks of volatility our project founders can choose to set their raise target in our tokens or in fiat.
We can do this because we are fudning our platform through a token sale supported by the revenue generating mechanisms within the platform such as purchasing support services and the Acron Marketplace.
Please tell us more about the mechanisms of income generation. I'm interested in what will increase the value of the token in the future. What is the profit for the investor?
Backers will be able to fund projects using our token
The Acorn Marketplace will enable users to purchase goods and services using the token, The Acorn Local mobile payment app allows point-of-sale transactions using the token, Founders will also be able to buy additional Acorn Support services with our tokens
This will ensure high utility of our token, crowdfunding is by its nature is expansive which means project founders will be responsible for bringing in backers to their projects increasing demand for the token. The expansive nature combined with a fixed supply of our token will see the value to the token continue to rise in value as the use of the platforms increases.
Guys whats the aim of acorn token in ecosystem of your project? Do you have any features like 'continuos contributor' that I met in other projects? So that holders of acorn tokens get some dividends for certain period of time or it is not applicable in this case? Just wonder. Thank you devs by the way for clear answers on each questions here.
Hi Consigliere, thanks for the great questions, see above for the uses of the token within the ecosystem. We will not be implementing a continous contributor features, the value of the token will simply increase in line with its use.
Hey guys if you like Acorn collective,
Check out ANDY ICOreview-https://www.youtube.com/watch?v=lZ258_AfxY8
and Jamie CryptoKoala-https://youtu.be/OFDZ6FeW5wM
Thanks, Jamie, I found this video very informative and useful for me, because I'm not that long in crypto. By the way devs do you offer some special terms on big investments or it goes the same for everyone? Thanks
We have made sure that we've offered equally good terms to all contributors whether they be small or large.
"4.2 Liquidity Reserve
Initially, a part of our ICO proceeds will be allocated to
our liquidity reserve.
If founders opt to receive their funding in BTC/ ETH or
fiat instead of OAK, we will use funds from our liquidity
reserve to pay them. The additional tokens that we are
holding will then be gradually re-sold on to the open
market.
We have designed this mechanism to make currency exchange easier and to protect
against large currency releases as successful projects disburse funds. As the number of
projects increases over time, the additional demand created for our token will increase
liquidity and minimize the impact of these transactions."
I`m new in cryto, but I find this mechanism intresting. Will it protect investors?
Hi Bujuman, this mechanism has been designed to protect the platform and token holders alike. This means that any fluctuations in crypto value or large project payouts will not have an negative impact on the platform or the value of the token.
In the documents there is a mention that the secondary market will also develop for the sale of goods and services of post-crowdsfunding. Will it be right on the platform? How will it look like?
We intend all of the platform to be easy to navigate and as simple to use as possible including the Acorn Marketplace. This will be built into the platform itself and provide a very simple transition for successful project raises to sell their product/service.The look will be very similar to that of most online market places such as Amazon as these have evolved over years to provide people with the most easy and effective eCommerce experience.
The secondary market refers more to where we have clusters of projects and backers post-funding. Because we’ll be engaging with accelerators to help develop projects it’s likely that a number of successful projects will appear in one area along with lots of backers. To add value to the projects and improve tokenomics, we’ll create a simple mPOS app that allows people to transact locally in ACO
It's a very good idea to create a platform for raising funds as a kickstarter but on the blockchain of the etherium ERC20 tokens. What other advantages does your platform have in addition to reduced transaction fees that are about 5%?
Firstly, it will be completely free to use! The current fees are around 3-5% transaction fees and around 5%+ platform fees. We’ll eradicate both. In addition to that, it will be available in all countries many of whom are unable to use exisitng platforms and will accept any project rather than the select few that are currently accepted onto existing platoforms. We also have other aspects such as The Acorn Marketplace for successful projects to be sold on and project backer insurance for backers to protect themselves against fialed raises.
Do you guys have MVP? Or where we can read something related to updates on technique side? Also I wonder where can I find your articles on medium devs if you have them there?
Absolutely, if you check out our website you will find or technical paper and you can find us on medium at
https://medium.com/@Acorn.CollectiveWhere can I see ann and whitepaper in other languages (for example Russian)? My language barrier prevents me to explore the idea of the project as a whole.
We are getting Russian translation sorted at the moment, we will announce when they're ready.
Is this all ok with whitelist? I've tried to register but nothing's happened. Is it closed or what?
The whitelist is still open, we will have sent you a confirmation email but depending on your settings it may have gone into your spam folder.
And what is the current situation with fees? As far as I know, existing platforms have two types of commission. For using the platform and for transactions. How much is this in total? More than 10%?
Ours has no platform or payment fees
You’re right, other platforms have payment and platform fees, whereas ours are zero!
What will the team do if it does not manage to reach the soft cap? The team plans to organize some kind of contests or airdrops, this is now popular.
Should we not reach our minimum funding threshold, the contributions from our main token sale will be refunded to all investors. Contributions from the Pre-Sale phase will not be refunded and will be used to continue development of our MVP and schedule another coin offering in the future. There are no airdrops planned but we’ve run a couple of competitions on Telegram and we’ll review it over the next few weeks
