XYO just screwed their investors after token sale

[L_777]

So, the XYO token public sale just finished last night.   After completion you can  see a "Gamma" token sale.  They are continuing the sale with no fixed end date. 
What is more troubling is that they promised they would burn the unsold tokens, but instead they "allocated" and extra 5 billion tokens to this Gamma sale effectively diluting
the tokens of the investors from the original crowd sale.   Now, instead of 9 billion tokens, there are ~14 billion tokens.  This move works to the detriment of said investors.

These are the facts.

Spin it any way you want to XY, but this is a clear betrayal of our trust.   I hope there is a special place hell for you. 

[MISS_nSTASSY]

This is kinda normal when ICOs decide to not to burn tokens after the crowd sale. Maybe if they will not announce that tokens will be burnt - they will not collect such amount as they did.
Everything is made for money. If they burn tokens they increase only investor's amount. But you should understand that nobody makes their projects for investors. For everything - to change the world, to beat cancer, to save pandas, to make such beautiful blockchain based milky factories and bakeries(lol), to become famous, to gain money from hobby and so on, but not to make investors reacher. Only ponzi are for investors

[crampus]

Maybe it was spelled out in white paper, they always do not understand, and then a bunch of questions.

[oooStrateg]

So, the XYO token public sale just finished last night.   After completion you can  see a "Gamma" token sale.  They are continuing the sale with no fixed end date. 
What is more troubling is that they promised they would burn the unsold tokens, but instead they "allocated" and extra 5 billion tokens to this Gamma sale effectively diluting
the tokens of the investors from the original crowd sale.   Now, instead of 9 billion tokens, there are ~14 billion tokens.  This move works to the detriment of said investors.

These are the facts.

Spin it any way you want to XY, but this is a clear betrayal of our trust.   I hope there is a special place hell for you. 

I am not surprised, do not invest in ICO it's a rule for me in crypto

[L_777]

This is kinda normal when ICOs decide to not to burn tokens after the crowd sale. Maybe if they will not announce that tokens will be burnt - they will not collect such amount as they did.
Everything is made for money. If they burn tokens they increase only investor's amount. But you should understand that nobody makes their projects for investors. For everything - to change the world, to beat cancer, to save pandas, to make such beautiful blockchain based milky factories and bakeries(lol), to become famous, to gain money from hobby and so on, but not to make investors reacher. Only ponzi are for investors

Yes but we want them to have integrity.   We need them to follow the plan and not change it mid-course.  This turns a high-profile blockchain project into a high-profile scam.  

[L_777]

Maybe it was spelled out in white paper, they always do not understand, and then a bunch of questions.

This was a change, mid-course.  They added the "allocation" on the 9th of May (well into the crowd sale.) 

[jt byte]

How much money they have already raised? Did they reach soft-cap? Do not understand why they extended the token sale...
I see XYO advertisements everywhere!

[L_777]

How much money they have already raised?
I see XYO ads everywhere!

Just over 12 Million USD

[CryptoAlphaStar]

A lot of ICOs lately are prolonging their sales if they are not happy with the raised money. And yes, most of the time the early investors are at a disadvantage.
Parkgene gave 50% bonus out of nowhere after they didn't collect much money in the official dates and prolonged.
Watching the price now (Parkgene) being 80% off ICO price, I can easily imagine even undisclosed private sales to pools with even greater discounts.

[paxmao]

Yes I was following it and is not only that they are doing their "gamma" sale, is also that they do not seem eager to go on any exchange. Screwing investors seem to be a sport lately.

[Zashibu]

How much money they have already raised?
I see XYO ads everywhere!

Just over 12 Million USD

Token Sale ended
21 MAY
$40,656,481
OF
$48,000,000 (85%)

https://icodrops.com/xyo-network/

[ekechie]

I will blame them for the decision they have taken, they are looking to raise $45m for the project but managed to raise just $12m and if you understand their project quite well, you will notice it is a real world project that requires a huge amount of money to execute, So I think the decision they made is for the best interest of the project, afterall they stated if you are not happy with the move, you can request for your fund back.

[ekechie]

How much money they have already raised?
I see XYO ads everywhere!

Just over 12 Million USD

Token Sale ended
21 MAY
$40,656,481
OF
$48,000,000 (85%)

https://icodrops.com/xyo-network/

I don't know where icodrops got their data from, I am an investor in the project and I followed the token sales to the end, they only raised $12m, the information found on icodrops is not true and it is deceiving, you can go to xyo site and get their contract address and do the maths for your self.

[Saisher]

So, the XYO token public sale just finished last night.   After completion you can  see a "Gamma" token sale.  They are continuing the sale with no fixed end date. 
What is more troubling is that they promised they would burn the unsold tokens, but instead they "allocated" and extra 5 billion tokens to this Gamma sale effectively diluting
the tokens of the investors from the original crowd sale.   Now, instead of 9 billion tokens, there are ~14 billion tokens.  This move works to the detriment of said investors.

These are the facts.

Spin it any way you want to XY, but this is a clear betrayal of our trust.   I hope there is a special place hell for you. 

I am not surprised, do not invest in ICO it's a rule for me in crypto

It is indeed a betrayal changing the rule at the last minute, investors will be shocked to see this last minute changing, they are one of the most publicized Ico in the market, I doubt if they can still gain investors for doing such act, they should have a clear explanation on why they decide to do this.

[Zashibu]

How much money they have already raised?
I see XYO ads everywhere!

Just over 12 Million USD

Token Sale ended
21 MAY
$40,656,481
OF
$48,000,000 (85%)

https://icodrops.com/xyo-network/

I don't know where icodrops got their data from, I am an investor in the project and I followed the token sales to the end, they only raised $12m, the information found on icodrops is not true and it is deceiving, you can go to xyo site and get their contract address and do the maths for your self.

yes, just started looooongread on XYO site:

OPTION 2: DO NOTHING
The second option was to do nothing and simply let the sale end/conclude.

If we did this, the end-result of the XYO Token Distribution pool would end up like this:

Yet this would be problematic, because the pre-allocated tokens (to the XYO Team, XY Company, Advisors and partners would be significantly larger than we had projected if we reached the $48M target. If the sale stopped after the XYO Token Sale, we would end up having the majority, wherein the public would only have 22%. This did not seem like a fair shake for the XYO Community. Additionally, for this project to continue and for us to actually displace GPS and achieve our goal, we are unable to do so on the funds raised thus far; or at least, it would take much, much longer than we think would be even desirable.

Can't post image from site, but really, they reserved 19%(wtf?) tokens for XYO team, 10% for XY Company and 10% for advisors.

[cryptopuma]

Scam ICOs are everywhere,theres no guarantee that these ICOs are not going to get screwed when they have millions of dollars in their hand.I would rather wait for these projects to get listed into some reputable exchanges so that there will be no regrets after i invest.

[chocopapaya]

I am extra suspicious of ICOs that are aggressively running ads on crypto websites or coinmarketcap.
And XYO was all over the place, it was insane.

The entire marketing strategy was a "come and get rich! not much time left!" type approach which screams desperation.
It is no surprise that they didn't receive the amount they wished and are now trying to secure more.
This greediness will ultimately make them fail.

For those of you that are getting screwed over because of this, you should start to plan ways to decrease your cost per token average to minimize your losses.
It might sound counter intuitive, but if there are further bonuses offered during this "gamma" sale, you should take advantages of it.
The best way is to wait for the ico to end, the tokens distributed, then pick them up for super cheap on a dex like IDEX.
Pumping in more money might seem crazy, but your goal is to make your own personal cost per token as cheap as possible so when you liquidate it, you can do it at a lower price point without significant losses overall.

[coingrowth]

very unfortunate many coins which are high in discussion and expectation all these coins are disappointing the members in large way overall it will affect ico industry

[robelneo]

I am extra suspicious of ICOs that are aggressively running ads on crypto websites or coinmarketcap.
And XYO was all over the place, it was insane.

The entire marketing strategy was a "come and get rich! not much time left!" type approach which screams desperation.
It is no surprise that they didn't receive the amount they wished and are now trying to secure more.
This greediness will ultimately make them fail.

For those of you that are getting screwed over because of this, you should start to plan ways to decrease your cost per token average to minimize your losses.
It might sound counter intuitive, but if there are further bonuses offered during this "gamma" sale, you should take advantages of it.
The best way is to wait for the ico to end, the tokens distributed, then pick them up for super cheap on a dex like IDEX.
Pumping in more money might seem crazy, but your goal is to make your own personal cost per token as cheap as possible so when you liquidate it, you can do it at a lower price point without significant losses overall.

I agree and people actually fall for this, another is giving a big bonus percentage at the start of the ico and after the ico is over, investors should be wise to see that this kind of Ico are just money generating, especially if they do not have something for the industry that will contribute for the advancement of cryptocurrency.

[Carina.P]

I am extra suspicious of ICOs that are aggressively running ads on crypto websites or coinmarketcap.
And XYO was all over the place, it was insane.

The entire marketing strategy was a "come and get rich! not much time left!" type approach which screams desperation.
It is no surprise that they didn't receive the amount they wished and are now trying to secure more.
This greediness will ultimately make them fail.

For those of you that are getting screwed over because of this, you should start to plan ways to decrease your cost per token average to minimize your losses.
It might sound counter intuitive, but if there are further bonuses offered during this "gamma" sale, you should take advantages of it.
The best way is to wait for the ico to end, the tokens distributed, then pick them up for super cheap on a dex like IDEX.
Pumping in more money might seem crazy, but your goal is to make your own personal cost per token as cheap as possible so when you liquidate it, you can do it at a lower price point without significant losses overall.

I agree and people actually fall for this, another is giving a big bonus percentage at the start of the ico and after the ico is over, investors should be wise to see that this kind of Ico are just money generating, especially if they do not have something for the industry that will contribute for the advancement of cryptocurrency.

This is a pity. I have also been concerned about XYO for some time. After all, its marketing plan was successful, but this kind of thing made me think that the team did not follow the rules.