ICO Token Allocation (Foundations)

[Rawoyemi]

I was reading the QKC token sale pdf again and saw they donated 15% to the "Foundation".

What is a Foundation in this regard? I'm curious to found out if its another fancy way of saying more money to the founders / team?  

Edit: Just to clarify, they specify that some money is allocated to the team, this is supposedly a seperate category.

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[Reid]

Is it the QuarkChain Foundation?

Looks like they call the Foundation as them. So the 15 percent of the pie is really for the team and developers.
Mostly it is 20 percent so I think they are a better number than other ICO's.

What is the issue with it?

To add up. Those tokens cannot be exchanged for a long time. They are locked. You can follow their wallet to check it daily. 

[Cryptomilz]

I was reading the QKC token sale pdf again and saw they donated 15% to the "Foundation".

What is a Foundation in this regard? I'm curious to found out if its another fancy way of saying more money to the founders / team? 

Some of these projects actually do have foundations that certain percentage of their token are donated to. On the flip side, fraudulent ICO teams claim to set aside these money for the foundation but it's actually for themselves.

[Osayo]

I was reading the QKC token sale pdf again and saw they donated 15% to the "Foundation".

What is a Foundation in this regard? I'm curious to found out if its another fancy way of saying more money to the founders / team? 

Please, forget the packaged term ' foundation'. Do you actually believe them? Where is the foundation located? What are the verifiable details about its existence? It is just for the team. I don't want to be deceived.

[livingfree]

Ask that ICO management team so you can clear out what you want to know. No one would give you exact details on what's happening with that ICO though they can cover up and say that they do and lie to their investors for hiding something ridiculous that investors won't benefit.

Even in real life, big corporations are using charities and foundations so they can cut their taxes so if this legit, I'm thinking the same thing that would lead them to cut taxes because of that "foundations" / "donations". Well this is base on my understanding.

[drumamat]

Not necessarily the money from the Fund will go into the pockets of the ICO team.The Foundation is like a piggy Bank.If there is a need to expand the team or unforeseen expenses, the team can take this money from the Fund.As a rule, this condition is prescribed in the smart contract.There are also projects that really allocate part of their income to charity.There's nothing wrong with that.

[Hui8]

I was reading the QKC token sale pdf again and saw they donated 15% to the "Foundation".

What is a Foundation in this regard? I'm curious to found out if its another fancy way of saying more money to the founders / team? 

Off course foundation is the basic idea of the whole project and the whole team involved in it. So here in this context of QKC that comes down to the team, project idea and most importantly founders of the project. There should be quota which is already allocated for the developments and research purpose but that will not count as the completely share of the project. They will always put some more so that they can get it for their own use straight up rather than putting everything in the crypto project itself. So when they say a foundation then its them really.

[SneakyLady]

I would consider that to be funds added to the treasury to optimize the company's liquidity. They could make good investments in the future with it. The fact that they're being open about that makes it seem legit.

Most revolutionary blockchain projects need quite a lot of funds to make their visions a reality now and in the future. There are even some that claim to be able to solve the most fundamental issues of the human condition, not only technical issues for payments etc. This takes a ton of money for R and D, or a huge "foundation."

[Lighthouze]

Very few ICOs are open with their finances and tell you exactly what funds are going to be used for exactly. The concept of funds set aside for a foundation is one ambiguous term used by ICOs to devote more money to themselves, because in actual fact, there's no real foundation they're devoting money to. And who says a start up should have a foundation immediately?? This should come when the business has become very profitable and successful.

[AIDUS]

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https://aidus.io/

[Rawoyemi]

It's interesting that so many people are telling me its the "Team" when they already have a section allocated to the team.
P.S. I've also asked in the telegram group a couple times now, waiting on a response still.

[Shiloh Richard]

The 15% of the pie is really for the team and developers. Mostly it is 20% so I think they are a better number than other ICOs. Those tokens cannot be exchanged for a long time. You can follow their wallet to check it daily.

[Markus Good]

They like to address themselves the foundation. They are not like any individual other, they are the same, but the word foundation might give them boost as different organisation.

[Izabelle Casey]

This is an interesting topic about which a lot people don't have much knowledge. The topic is intriguing and anyone with curious mind would love to know more about this thing. As such knowledge can help an investor or a trader in the long run.

[Cooper Bolton]

In this case the foundation could mean the team and developers. 15-20% of the of the tokens I think are locked in this regard and cannot be exchanged. But, if you're interested in knowing more on this you could always check their wallet program to follow the changes daily.

[Izabelle Casey]

This is an interesting topic about which a lot people don't have much knowledge. The topic is intriguing and anyone with curious mind would love to know more about this thing. As such knowledge can help an investor or a trader in the long run.

[Whosdaddy]

I was reading the QKC token sale pdf again and saw they donated 15% to the "Foundation".

What is a Foundation in this regard? I'm curious to found out if its another fancy way of saying more money to the founders / team? 

The team is the foundation and the foundation is the team. 15% donation to the foundation is just a way to paint it in such a way that would make it sound a little bit nice but in reality, it is actually meant for them indirectly.

However, whatever we are going to be saying here is an assumption so in a way, if you want to get some response or real answers, and that is if the team will end up not telling you what they want you to hear, i will say, you should just go to any of their social media pages, throw the question and they will be glad to give you a response to your concerns.

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[bangkit tri]

I was reading the QKC token sale pdf again and saw they donated 15% to the "Foundation".

What is a Foundation in this regard? I'm curious to found out if its another fancy way of saying more money to the founders / team? 

Off course foundation is the basic idea of the whole project and the whole team involved in it. So here in this context of QKC that comes down to the team, project idea and most importantly founders of the project. There should be quota which is already allocated for the developments and research purpose but that will not count as the completely share of the project. They will always put some more so that they can get it for their own use straight up rather than putting everything in the crypto project itself. So when they say a foundation then its them really.

I think 15% is a normal number, because they are a team, where many people are involved in it, but in this case they usually cannot hold it for a long time, it will certainly decrease in the near future

[justdimin]

Not all "foundation" is to the "team" that is basically owning the ICO or the coin or whatever but also people who work there.
So, if you decide on making a new coin you need developers, graphic designers, marketing people and many more which all costs money. If you convince them to get the coin than they will be paid with the coin which you can consider "15% to the foundation" but if they don't than they can be paid with the ICO funds they get.

In one way or another you have to pay the team, even if the owner doesn't get paid and just uses his own coins for stuff they need to pay the team that worked on it, either on the coin or ethereum or something but they have to pay them. So that is why there is always some coins saved aside for paying stuff the ICO needs to pay and that is usually used as "foundation" so you don't write in detail where it goes to.