The largest part of all tokens available for sale are sold in private and pre-sales. That does not sound very ‘decentralised’ or ‘healthy’ to me.
According to an article on Hackernoon a staggering 84% is sold in private and pre-sales. That means ‘only’ 16% is available for the community and smaller investors.
I remember 6-9 months ago, you could still join an ICO with just 100USD and there were barely any private presales. Nowadays token distributions seems to get more and more concentrated and unfair. Communities of 50k+ members spread the word in exchange for bounties and high hopes. Once the ICO starts you have about 10 seconds to get in and you still have to be lucky to get in.
This is not the right balance. And I am not even talking about all the exclusions from ICOs based on geographics, minimum contributions, slow internet or just plain luck. Stuff needs to change and everybody knows it.
I get that it is not easy to coordinate the perfect ICO, but I feel teams can put in a bit more thought. Too much goes wrong because of the way the ICOs are structured in the first place. Currently there is also too much incentive for projects to go with private presales and ‘accredited investors’, since it is a lot less hassle and risk.
Open, honest and clear communication from projects would be a great start and some are doing that, but the majority isn’t. I would recommend the following filter to all projects for which actions to take (I personally use this a lot, inspired by one of my mentors):
“If you can’t explain it in a stadium full of people, it is not the right thing to do.”
A community missing out? - Image source
Anyway, these are some of my thoughts on the matter. I guess there is some frustration in there as well ;-)
What are your thoughts? How should it change? Let me know in the comments!
Sources:
https://hackernoon.com/icos-the-community-does-the-marketing-large-investors-grab-the-tokens-2551bba51e1f
https://news.bitcoin.com/icos-raised-2-billion-year-mostly-private-sales/
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Disclaimer: I am not a financial advisor, trader or developer. I am just a blockchain & cryptocurrencies enthusiast. Make sure you do your own research, draw your own conclusions and do not invest any money that you cannot afford to lose.