The investors control how and IF we spend the money!
Only 10% of the collected funds are released to us upon completion of the ICO. The rest money and the founders tokens remain locked in the smart contract. Once we run out of the initial 10%, we initiate a smart contract based voting process. We inform the community what we have done so far and for what we need the next 10% funding increment.
Every token holder can vote proportionally to his tokens if we should get another round of funding or not. If 51% vote no, we don’t get any money and continue working until the investors are satisfied enough to vote yes next time we initiate a voting process.
Every token holder can start a refund process!
At any time, anyone holding at least 1 ERT token can initiate a refund voting process. If 65% of the tokens vote for refund, the project is terminated and all remaining funds refunded proportionally.
So, at any time, we are in possession of only 10% of the funding and if we stop delivering on our promises you can get back the rest of your investment.
Dynamic hourly ICO cap.
Dynamic investment cap that increases every hour! $1000 worth of ether cap the first hour and then increased with $1000 every next hour. ($2000 cap per unique sender the 2nd hour, $3000 the 3rd hour and so on) This makes it inefficient to have huge gas fee to make your transaction go first and out place the smaller investors. You have new chance to participate every hour! That way a whale will have to compete with thousands of regular investors every hour. Leveling the playing field as much as possible (not bulletproof though) without invasive and bureaucratic onboarding process.