LIST: How to evaluate ICO opportunities

[MichaelMeu]

Project and team is very important. ICO with realistic project and trusted team. Bobrepair is one of the great ICO. It is supported by John Mc Cafee and the project is skill market. it is very rasional to be applied.

We've said what feels like a 1000x now, this is no thread for shilling. take your unwanted shilling elsewhere

[Kristen_Colwell]

Hi all,

I'll be working on THE LIST again later tonight. Lots of great feedback to incorporate from this thread! Super stoked.

Also, @Cryptobulld0g shared this list on Twitter: https://twitter.com/CryptoBulld0g/status/956878022421950464
I'm planning to integrate the concepts here as well.

Lots of work to do...

 

Crypto-Kristen

[Kristen_Colwell]

HI?
Of cource evaluating ICO You need to look at the code, but if that’s not you, you can start with the white paper.
But that’s a lot of reading, start with typos.
Here is the article about it https://zengineeringpodcast.com/ruling-out-the-scams-smart-contracts-whitepapers-and-evaluating-an-ico-43821502a9ae

We're more here trying to provide criteria with which to evaluate ICOs rather than being solely focused on spotting scam ICOs. Scam ICOs should be relatively easy to spot - should be, not necessarily always however. Many ICOs will fail though - not because they're scams but simply because they don't have enough of a USP or enough technical expertise or good enough advisers. Hence the importance of DYOR!

Identifying scams is a low bar. Legitimacy is always a factor, but we'd like to dive deeper.

Thanks @MichaelMeu!

[MichaelMeu]

Hi all,

I'll be working on THE LIST again later tonight. Lots of great feedback to incorporate from this thread! Super stoked.

Also, @Cryptobulld0g shared this list on Twitter: https://twitter.com/CryptoBulld0g/status/956878022421950464
I'm planning to integrate the concepts here as well.

Lots of work to do...

 

Crypto-Kristen

What a woman. Thanks Kristen!

[Kristen_Colwell]

I only analyze ico well by looking at the team and its advisors, in what areas of the project and looking at the roadmap. with the information you share is very useful to me

Can you share any details about how you assess the advisors? THE LIST is still pretty surface-level in this area. 

Thank you!

Crypto-Kristen

[Kristen_Colwell]

Riddle me this....

What is your BIGGEST ICO investment DEAL-BREAKER?

Interested!

Crypto-Kristen

I really couldn't settle on on so I thought I'd go for this.

The thing I'm most excited about for an ICO - if it's an infrastructure project. Look at NEO, look at QTUM, look at IOTA (not shilling, I have 0 bags in any of those).

Deal breakers - in order of importance:
#1 Is the team anonymous (the irony as we still don't know who satoshi is...) ? If so, no go
#2 Is there a whitepaper? If not, you know the answer.
#3 Does the project have a functional use with little/no competition?
#4 Does that project have a functioning prototype? No proto, no invest.
#5 Is their roadmap detailed and, just as important, realistic?
#6 Does it have a reasonable hardcap (<$50m)? Tick
#7 Is there an individual limit on how many tokens people can buy? Massive tick, (minimises the likelihood of whales forming, and if they do, they can only form post-ICO after you've invested and the coin is listed on exchanges which means you are in the money.
#8 Are bonus token offerings to the likes of pre-sale investors and even public sale ones capped at 25% of their total buy? Huge tick (Stops whales dumping short term but if there's enough longevity in project (12 months + hold) then this can be handled with bonus sales of up to 40%).

Totally not the answer you were looking for but just my thoughts.

Love the detail! Thank you.

I imagine there is some variety in what ICO investors would say is the biggest deal-breaker, but bet most or all responses would fall into your responses above... SO, is it possible to develop a sub-LIST of DEAL-BREAKERS? Or would this be taking things a bit too far?

Curious...

Crypto-Kristen

[Kristen_Colwell]

Just add regarding Bitcointalk: Is there any evidence of posts being deleted? Investigate if anyone is claiming so? Are the opinions of seasoned members being shouted down? E.g If there is 4 members with 200+ posts calling the ico suspicious and 20 members with between 1-28 posts calling the project legit, I'd be valuing the opinions of the former, not the latter.

BAM! Added to Marketing & PR section. Great feedback, thank you.

 
Crypto-Kristen

[Kristen_Colwell]

V. close:

"Are token burn actions and bounties paid according to sold tokens or according to the token reserve regardless of how many tokens were sold?"

@MichaelMeu,

I added this, but am intrigued... my newbie-ness is showing. 

Can you explain the impact to the investor if burn action and bounties are not paid according to sold tokens? If burned/bounty paid according to token reserve regardless of tokens sold, does that mean that a disproportionate share of funds are going to non-investors? Did I get that right?

Thank you!

Crypto-Kristen

[Kristen_Colwell]

"How many tokens are being created?
What is price per token?"

Add maybe: what is the marketcap of the ICO at the moment. + How big could it rise?

Thank you for the input! Can you expand on the "marketcap of the ICO at the moment + How big could it rise?" Newbie here, so excuse a potentially goofy question....

How do you define marketcap? Especially for ICOs in which the token has not even been created yet as of the Pre-Sale. Really want to understand this point. Your help is appreciated!

 
Crypto-Kristen

[Kristen_Colwell]

Step 10: If it has the name Polymath, stay away!

That is a good one. I would also say "stay away if the name of the coin is Bitcoin + a colour, Ethereum + a colour, Bitcoin + anything in general, etc... " I am sure you get the idea.

LOL-ing so hard right now.  At first I thought @whofeelsitknowsit was messing with us with that Polymath comment. Now, I'm thinking we might be on to something tangible.

Does the branding/messaging fall in the "sounds too good to be true" category?

Curious to hear other thoughts on this... not adding anything to THE LIST yet, but we might actually have something here...

Thank you!

Crypto-Kristen

[Kristen_Colwell]

Step 10: If it has the name Polymath, stay away!

That is a good one. I would also say "stay away if the name of the coin is Bitcoin + a colour, Ethereum + a colour, Bitcoin + anything in general, etc... " I am sure you get the idea.

Yes. Those flags would pop up with the criteria certainly but a shortcut is just looking for those combinations. I thought it'd be obvious to most but for some it may not be so thanks.

Also, see if the website is mining from your browser. I've noted this on a few icos recently.

Let's take an example.

Open your task manager on your computer.

Click the Processes tab and monitor the % of CPU being used for a second or so. What percentage is it hovering around?
Mines typically between 14-17% (can spike to 30%, rarely 40-50% but it is possible, would only happen for a moment however).

Now, when you go to ICO site that is using in-broswer mining (likely Monero) that CPU % will spike up in seconds. No way am I investing in an ICO that's slyly stealing my CPU resources. Why would I trust them? Just completely dodgy.

Here's an example which I took from: https://coincodex.com/article/1198/top-5-icos-of-early-2018/ - the spam link someone just posted.

I googled the 'Scorum' ICO (last on the top 5 list) and went to their site for their token sale.

Here's the url:

https://scorumcoins.com/

Have to wait for a few seconds for the webpage to load and then, BOOM! CPU spike + fan will probably start going like crazy also. Yup. Mining from your browser. Want to make sure there's not an error with your browser? Close the tab, watch the spike disappear. Double-check with different browser just to be sure (Chrome + IE I checked with) and voila. Pure scam Scorumcoins is - might as well be called Scrotumcoins, about as attractive as one. Stay away (but quickly do the demonstration for yourself to spot this red flag in the future)

  WOW!!!!!!

Still digesting this piece of info. I knew there were malware and CPU-jacking issues in the cryptosphere, but had not connected the dots between that behavior and ICO investing. With more newbies like myself stepping into the arena, scammers are banking on the fact that most are completely unaware of the risks.

So, @MichaelMeu, is there a question or series of questions I can add to get this point across? I hate to keep talking about identifying scams.... BUT wonder if there is a new section dedicated to "Is this a Scam" and points such as this would go there...

Thoughts?

 
Crypto-Kristen

[Kristen_Colwell]

WARNING

This is a NO-SHILL zone. We are not talking about individual ICOs, we are talking about concepts and analytical strategies for evaluating ICOs.

Please keep your spam to yourself. :-)

Thank you!

Crypto-Kristen

[Ceballos]

This ICO evaluation methodology by ICORating is nicely outlined. 
https://icorating.com/methodology/

I'm especially interested in their hype-score and the description of quantitative vs. qualitative factors.

Any other pieces of this jump out as concepts I need to include in THE LIST?

Thanks!
Crypto-Kristen 

Beside of qulitative factors i usually talk with team members. If the team does not believe the project and cannot understand the cons and problems i stay away from them.
you will spot the Well driven ponzi schemes like bitconnect with talking to the team.

[Kristen_Colwell]

HI?
Of cource evaluating ICO You need to look at the code

@coinlawyer, can you give us detail? What exactly do you look for in the code?

Thanks :-)

Best,

Crypto-Kristen

[Kristen_Colwell]

This ICO evaluation methodology by ICORating is nicely outlined. 
https://icorating.com/methodology/

I'm especially interested in their hype-score and the description of quantitative vs. qualitative factors.

Any other pieces of this jump out as concepts I need to include in THE LIST?

Thanks!
Crypto-Kristen 

Beside of qulitative factors i usually talk with team members. If the team does not believe the project and cannot understand the cons and problems i stay away from them.
you will spot the Well driven ponzi schemes like bitconnect with talking to the team.

Intriguing!!! You talk with the team member. I love it. 

Can you give us a little detail about your process? Do you reach out to team members via LinkedIn? Do you find that team members are generally responsive? If not responsive, is that a sign?

Looking forward to your response,

Crypto-Kristen

[Kristen_Colwell]

Shout out to crypto-aficionado CryptoBulldog. I hope you'll join us on this BitcoinTalk thread!

I've been chatting with CryptoBulldog on Twitter this morning. Lots of great info. Check out the Bulldog's list and our convo here: https://twitter.com/CryptoBulld0g/status/956878022421950464

As always, I will bring any new info back to THE LIST. :-)

[Kristen_Colwell]

Hi all,

I'm working this list of factors to consider when evaluating an ICO for investment. This is a LIVING LIST, and I'm seeking input so that I can create a public checklist of sorts. Share your thoughts! I'll constantly update the questions on this list based on new information. Ultimately, we should be able to evaluate an ICO opportunity by working through the checklist. See the end of the list for sources...there will be many in addition to the feedback I get here.

Need a better understanding of what the heck we are trying to do here??? Check out my YouTube video ==> What is THE LIST?

What is THE LIST?
An ever-expanding set of criteria and questions assembled by the crypto-community, broken into segments and organized sequentially, to be utilized as a framework for evaluating ICOs.

Some Fundamentals to Consider

• Strong sources lead to strong opinions
• Data is neither “good” nor “bad” - evaluate it with reference to THE LIST and your gut
• Perfection is the enemy of done
• Come to terms with your personal bias, do your best to minimize it
• Judge with reason, not emotion; do not let the latter affect the former

One list to rule them all!!!

First, I defined and arranged the sections. Then I reviewed ICO evaluation articles and added questions to the relevant sections. Now, I am asking your input! What should be added, changed, defined, removed, considered, debated...?

Evaluating ICO Opportunities

1. Token Purpose: what need does the token address?

• Is the token new and no other token offers the same service?
• Does the token have a clear purpose?
• How broad or narrowly defined are the use cases for this blockchain?
• Is the token tied to a product usage, i.e. does it give the user exclusive access to it, or provide interaction rights to the product?
• Does the token grant a governance action, like voting on a consensus related or other decision-making factor?
• Is the token the project's principal payment unit, essentially functioning as an internal currency?
• Does the token provide return to token holders?
• Does the token reward users for contributing resources towards the creation of a shared service that will benefit all users?
• Can the resources contributed by users be verified by anyone?
• Does the token align incentives to simultaneously accelerate growth and token value?
• Who will support the token?
• Is the token structured with centralized control or a decentralized governance?
• Is the token a utility token (usage token or work token) a security token, or a combination?
• For usage tokens: is the digital service being offered useful and does the network underlying the digital service aggregate resources (hashing power, file storage, etc.) that will differentiate the service in the long-term?
• For work tokens: is there a strong network emerging that wants to contribute and is the UX well thought through? And is the service offered useful to people?
• For security tokens: is there some technology underlying the security that gives the token a long-term competitive advantage?

2. Competitive Analysis (SWOT): is this unique in some way?

• Does the project benefit from being on the blockchain? Should it be on the blockchain?
• Can the company successfully dethrone any blockchain-based competitors in their industry?
• What are the possibilities past the first use case?
• Is there a core technical or product advantage that is likely to lead to competitive differentiation?
• Does the company have strategic partnerships with trustworthy sources within the industry?
• Is it impossible to substitute the use of the token for another?
• Are there competitive partnerships/alliances with reputable firms?

3. Technology: what is the tech?

• What type of technology is it? (DApp? Infrastructure? Currency?)
• What blockchain is it running on?
• Are they developing their own infrastructure instead? If so, why?
• Is the token mineable?

4. Minimum Viable Product: how solid is the product?

• Is there a working prototype?
• Is there a working prototype code working on a testnet?
• Do they have prototype code at all (even if its not currently executed)?
• Is the code a copycat that implemented no new features?
• Does the code have commentary?
• Does the commentary explain clearly the purpose of the function?
• Are the functions a reasonable length? i.e. are they less than 50 lines?
• Does the code allow for rapid expansion of user base and network interactions?
• Are there any external audits of the code?
• Is the product's technical specification thorough and does it demonstrate mastery of the subject matter?
• Are there people out there who want and need this product right now?
• Does the product benefit from network effects?

5. Team: who's running the show?

• Who is the founder, what is his/her background? (Have they built and sold a company before, or a new entrepreneur?)
• Can the team be found on LinkedIn and Github?
• Is the team exceptional technically, inclusive, transparent, objective and capable of fostering a vibrant global community?
• Can this team attract partners and participants?
• Are there people on the team who understand marketing and evangelizing?
• Does the team have a history of success, demonstrated ability to overcome obstacles to success and strong desire beyond money?
• Has the founding team demonstrated the characteristics (inclusive, transparent, objective, etc.) necessary to build a healthy community?
• How will the team continue to communicate their progress?
• Does the company blog regularly about their work?
• Have any members of the founding team participated in blockchain and/or cryptocurrency industry events?
• What is the founding team's expertise with cryptocurrencies and blockchain? Are there any red flags concerning their credibility in these areas?
• Is the team able to explain, in relatively simple terms, the value derived from using the blockchain?
• How many developers are on the team?
• Do the team's developers have active GitHub profiles?
• How are developers compensated? By donation? Or some formal commitment?

6. Advisors: who are the big guns? (mentors and advisors)

• Are there any industry experts backing the project financially or as advisors?
• What tangible benefit (i.e. advice or strategic connections) do advisors provide the company?
• Do advisors include the project on their own public profiles such as LinkedIn?
• Have advisors discussed the project publicly and recently?
• How involved are the advisors in the project's online community?

7. Roadmap: where do they plan to go?

• What is the team's timescale for implementing their proposals?
• How detailed is the plan?
• How realistic is the vision?
• Are the goals achievable based on what the team has accomplished to date?
• Is token distribution linked to the roadmap?
• Does the roadmap include a history of previous deadlines?

8. Token Offering Structure: how likely am I to get burned?

• What is the hard cap?
• What is the soft cap?
• How many tokens are being created?
• What is the circulating supply of tokens?
• What is price per token?
• Is there a pre-sale?
• Who has written up the token issuance contracts and actual token issuance software?
• Which blockchain infrastructure is backing up their sale?
• Will the software platform generate new tokens?
• What is the planned use of funds? (e.g., marketing, legal, development, etc.)
• What share of the token distribution is allocated to bounty program?
• How are tokens put into the hands of investors and interested individuals?
• Are the founders holding onto most tokens?
• How long is the vesting period before investors can diversify?
• Are the funds in a multi-signature wallet?
• How do you buy tokens? Is there Escrow or direct to a company wallet?
• Is the team going to destroy or redistribute a significant part of unsold tokens?
• Are token burn actions and bounties paid according to sold tokens or to the token reserve regardless of how many tokens were sold?
• Is the token distribution coming directly from a smart contract?
• Is there a cap on funds raised per person?
• What rights does the token provide the investor?
• Are there any limitations on the ability to resell the coin or token?
• Is there a lock-out period? If so, for whom?

9. Marketing & PR: how serious are they?

• Is there a professional whitepaper?
• Is the whitepaper free from spelling and grammar errors?
• How in-depth is the whitepaper's description and outline of the technology?
• Is there a professionally developed website?
• Does the website include a comprehensive ICO FAQ?
• Does the website list the company's physical address?
• Is there professional presence on top social media platforms (Twitter, Facebook, LinkedIn)?
• Do team members include the project on their LinkedIn profiles?
• Is there an official presence on Telegram?
• Is the Telegram channel active and growing?
• Do the Telegram admins have regular access to key team members for questions?
• Is there an official presence on Discord, Slack, Rocketchat, Gitter?
• Does the project have an announcement (ANN) thread on BitcoinTalk?
• Is the BitcoinTalk ANN thread overly focused on bounties?
• Do many of the positive BitcoinTalk posts come from new accounts with relatively few posts?
• Is there any evidence of BitcoinTalk posts being deleted? Are the opinions of seasoned members being shouted down?
• Does the company report progress on a regular basis?
• How is customer service and tech support on the project's social media accounts?
• Is the ICO listed on top ICO ratings websites?

10. Hype: what are people saying about the ICO? (ratings + community)

• Is there a Reddit community?
• Are there a significant number of users on the main social media pages for the project? (Bitcointalk, Telegram, Twitter, Medium, and YouTube)
• Is the social community diverse?
• Is there a bounty program?
• Is there an airdrop?
• How often has the project been mentioned in the press?
• Has the project been mentioned in mainstream technology media and in prominent finance publications? (Techcrunch, VentureBeat, Forbes, WSJ, Reuters, etc.)

11. Legal Considerations: is this on the up-and-up?

• Does the company have a physical address listed publicly?
• In what jurisdiction is the company incorporated?
• Do either national or international regulations apply to the project?
• Is the ICO compliant in your country?
• What legal structures are being disclosed?
• If a security token: federal and state securities laws require investment professionals and their firms who offer, transact in, or advise on investments to be licensed or registered. Is this the case?
• Is there a SAFT agreement?
• How is security handled?
• What are the apparent, perceived or real regulatory risks?
• Are there plans for external or internal audits?
• Have they published the terms and conditions of the sale in clear language?
• If there is a DAO (Decentralized Autonomous Organization) -like component, is its articulation realistic and well grounded?

Thanks in advance for your input!

Crypto-Kristen  

SOURCES:
1. "Our Process for Evaluating New Tokens" by Nick Tomaino https://thecontrol.co/our-process-for-evaluating-new-tokens-4627ed97f500
2.  "Scrap the White Paper: How to Evaluate Tokens and Blockchains" by Coindesk https://www.coindesk.com/scrap-white-paper-evaluate-tokens-blockchains/
3. "How to Evaluate an Initial Coin Offering" by Strategic Coin http://strategiccoin.com/evaluate-initial-coin-offering/
4. "Due Diligence: How to Evaluate an ICO" by Cryptos R Us https://cryptosrus.com/due-diligence-how-to-evaluate-an-ico-initial-coin-offering/
5. "Due Diligence: How to Evaluate an ICO Investment" by Bitcoin Market Journal https://www.bitcoinmarketjournal.com/ico-due-diligence/
6. "10 Steps for Evaluating Digital Asset Crowdsales" by  Token Market https://tokenmarket.net/blog/how-to-invest-to-ico-and-blockchain-tokens/
7. "10 keys for evaluating Initial Coin Offering (ICO) investments" by CryptoPotato https://cryptopotato.com/10-keys-evaluating-initial-coin-offering-ico-investments/
8. "Methodology" by ICORating https://icorating.com/methodology/
9. "ICO Analysis Framework" by Kasper Rasmussen https://blog.ethfinex.com/analysing-icos-4abe41930f04
10."Evaluating Tokens and ICO" by HackerNoon https://hackernoon.com/evaluating-tokens-and-icos-e6c22c1885bb
11. "ICO Analysis Framework" by MT Kander http://www.mtkander.com/cryptocurrencies/ico-analysis-framework/
12. "How to Value Cryptocurrency" by HackerNoon https://hackernoon.com/the-7-things-you-need-to-know-from-the-valuing-cryptocurrency-conference-call-c238095a03b9
13. "White Papers Versus Other ICO Evaluations" by Financial Advisor Magazine https://www.fa-mag.com/news/white-papers-versus-other-ico-evaluations-36272.html
14. "How to evaluate a Blockchain ICO" Nami Consulting http://consultnami.com/how-to-evaluate-a-blockchain-ico/
15. "How to Evaluate an ICO (a VC Perspective)" by Lauren Stephanian https://medium.com/the-mission/how-to-evaluate-an-ico-a-vc-perspective-65ac781971b6
16. "Investor Bulletin: Initial Coin Offerings" by United Securities & Exchange Commission https://www.investor.gov/additional-resources/news-alerts/alerts-bulletins/investor-bulletin-initial-coin-offerings
17. "How to Evaluate an ICO" by Shermin Voshmgir https://medium.com/blockchain-hub/how-to-evaluate-a-ico-part-1-c6829d4de766
18. "ICO Bounty Programs: Your community should be more than Bounty Hunters" by Brian D Colwell https://briandcolwell.com/2017/12/ico-bounty-programs-your-community-should-be-more-than-bounty-hunters/.html
19. "The ICO crapcoin checklist" by Matthew Roberts http://roberts.pm/ico_crapcoin_checklist
20. "4 Criteria For Evaluating Blockchain ICOs" by CoinDesk https://www.coindesk.com/evaluate-blockchain-initial-cryptocurrency-offering/
21. "Tokenomics — A Business Guide to Token Usage, Utility and Value" by William Mougayar https://medium.com/@wmougayar/tokenomics-a-business-guide-to-token-usage-utility-and-value-b19242053416
22. "Quantitative & Qualitative" by Crypto Bulldog https://twitter.com/CryptoBulld0g/status/956878022421950464

REVISED! Check it out. Share your thoughts. 

Crypto-Kristen

[Kristen_Colwell]

FYI, just fired up this new topic: https://bitcointalk.org/index.php?topic=2833296.new#new

I'll develop a list of definitions in tandem with this list of evaluation poits. Does that make sense to everyone? :-)

 

Crypto-Kristen

[DarkSi]

Let me shake your hand, you're awesome! Let's call it "Colwell test"

Great job mate, very helpful list. I really don't know what to add, but I have many questions.

Please explain, what do you mean by questions:

• Who will support the token?
• What are the possibilities past the first use case?
• Is it impossible to substitute the use of the token for another? It's always possible to switch the project to another blockchain by issuing the same amount of tokens.
• How will the team continue to communicate their progress?
• What is the team's timescale for implementing their proposals? I understand the question, but I don't see how to interpret the answer. Let's say, it's around 7 years. Is it good or bad? What if it's about 1 year?
• What rights does the token provide the investor? — which options are available on the market today?
• Is there a Reddit community? — why it's crucial? what if it's Telegram public chat and a blog on Medium only?
• How often has the project been mentioned in the press? — any numbers to compare?
• In what jurisdiction is the company incorporated? — what if Estonia? What if Singapore? What if Russia? What if some offshore islands? What if Switzerland or Luxembourg?
• What legal structures are being disclosed? — which should be disclosed in case of a perfectly organised ICO?

Also I think it would be better to use "Yes, No, Not Available format". For example, the question "Does the project benefit from being on the blockchain? Should it be on the blockchain?" can be modified in a more specific and simple way "Blockchain is necessary to run the project or not?".

The answer to the question "What blockchain is it running on?" is often will be "Ethereum". How should we consider it? As good, bad, or just normal? I think this question also needs to be improved. How about "Is it running on the fastest of existing blockchains?"

The question "Can the team be found on LinkedIn and Github?" represents 2 questions actually.

The question "Has the founding team demonstrated the characteristics (inclusive, transparent, objective, etc.) necessary to build a healthy community?" is actually at least 3 questions according to "inclusive, transparent, objective". What other characteristics are necessary to build a healthy community?

The same about "How are developers compensated? By donation? Or some formal commitment?". Any other ways of compensation are being used during tokensales?

What should I do with the numbers of tokens are being created and circulating supply? are there any guidelines for these numbers?

What is price per token? — the same. What if it's below 10 US cents? what if it's around $1? what if $10?

Many thanks again!

[Kristen_Colwell]

Let me shake your hand, you're awesome! Let's call it "Colwell test"

Great job mate, very helpful list. I really don't know what to add, but I have many questions.

Please explain, what do you mean by questions:

• Who will support the token?
• What are the possibilities past the first use case?
• Is it impossible to substitute the use of the token for another? It's always possible to switch the project to another blockchain by issuing the same amount of tokens.
• How will the team continue to communicate their progress?
• What is the team's timescale for implementing their proposals? I understand the question, but I don't see how to interpret the answer. Let's say, it's around 7 years. Is it good or bad? What if it's about 1 year?
• What rights does the token provide the investor? — which options are available on the market today?
• Is there a Reddit community? — why it's crucial? what if it's Telegram public chat and a blog on Medium only?
• How often has the project been mentioned in the press? — any numbers to compare?
• In what jurisdiction is the company incorporated? — what if Estonia? What if Singapore? What if Russia? What if some offshore islands? What if Switzerland or Luxembourg?
• What legal structures are being disclosed? — which should be disclosed in case of a perfectly organised ICO?

Also I think it would be better to use "Yes, No, Not Available format". For example, the question "Does the project benefit from being on the blockchain? Should it be on the blockchain?" can be modified in a more specific and simple way "Blockchain is necessary to run the project or not?".

The answer to the question "What blockchain is it running on?" is often will be "Ethereum". How should we consider it? As good, bad, or just normal? I think this question also needs to be improved. How about "Is it running on the fastest of existing blockchains?"

The question "Can the team be found on LinkedIn and Github?" represents 2 questions actually.

The question "Has the founding team demonstrated the characteristics (inclusive, transparent, objective, etc.) necessary to build a healthy community?" is actually at least 3 questions according to "inclusive, transparent, objective". What other characteristics are necessary to build a healthy community?

The same about "How are developers compensated? By donation? Or some formal commitment?". Any other ways of compensation are being used during tokensales?

What should I do with the numbers of tokens are being created and circulating supply? are there any guidelines for these numbers?

What is price per token? — the same. What if it's below 10 US cents? what if it's around $1? what if $10?

Many thanks again!

Thanks SO much! I am looking at your post now and wishing I could work on THE LIST this very moment. I'll be back... hopefully later today. Lots to think about here.  THE LIST is ready for it's next big level-up.

Many gratitudes flying your way...

Crypto-Kristen

LOL... the Colwell Test... my husband Brian will be interested in this concept.