Saurabh GoelICO team member replied on 17 Apr 2018
Hello Paul!
We appreciate your feedback but do not agree with it completely.
1. Hard Cap raised by Whyral is way too much because of the region : If you look at it down the three year roadmap lane, the funds raised are not as substantial. Also, most of funds will be used in the marketing and on-boarding influencers and brands to kick start the project. Talking about the salaries, please understand that this project doesn't only require developers but also a bigger team with expertise in all areas from marketing and business research to customer support and operations. Maintaining such a team for the next three years even with minimum budget require these funds.
2. Funds reserved for Founders and Advisors are too much : 2500 Eth for the team and 1250 Eth for advisors are really not high. Please understand we have a huge diversified advisory board which includes people from all important fields be it finance or be it the developer of some good performing coins. When distributed among all these people, the number dives down a lot lower. Also, we have a big team to make sure we do good and perform well with the timelines we have set. Also, unlike some other coins we do not have a treasury fund to give out to the new developers and members who join us in the future. Distribution to them will also be done from the team and founders fund. If you look at it from this perspective, the funds again dive down to an average investor's portfolio.
3. Lockins - The founders will have a 40 months lockin with 12.5% of tokens being vested every 5 months. We do have founder's agreement signed and we have already updated lockin terms on website.
4. What if hard cap doesn't reach - if that doesn't happen we will burn the remaining tokens however the other funds will remain the same! However, if soft cap doesn't reach we will be bring down the total supply proportionally to the tokens sold by burning funds from other addresses as well. This will make sure that we will continue to work towards our goal of changing the way marketing is done today.
I will appreciate if you can reconsider your rating based upon inputs. Thank You
We appreciate your feedback but do not agree with it completely.
1. Hard Cap raised by Whyral is way too much because of the region : If you look at it down the three year roadmap lane, the funds raised are not as substantial. Also, most of funds will be used in the marketing and on-boarding influencers and brands to kick start the project. Talking about the salaries, please understand that this project doesn't only require developers but also a bigger team with expertise in all areas from marketing and business research to customer support and operations. Maintaining such a team for the next three years even with minimum budget require these funds.
2. Funds reserved for Founders and Advisors are too much : 2500 Eth for the team and 1250 Eth for advisors are really not high. Please understand we have a huge diversified advisory board which includes people from all important fields be it finance or be it the developer of some good performing coins. When distributed among all these people, the number dives down a lot lower. Also, we have a big team to make sure we do good and perform well with the timelines we have set. Also, unlike some other coins we do not have a treasury fund to give out to the new developers and members who join us in the future. Distribution to them will also be done from the team and founders fund. If you look at it from this perspective, the funds again dive down to an average investor's portfolio.
3. Lockins - The founders will have a 40 months lockin with 12.5% of tokens being vested every 5 months. We do have founder's agreement signed and we have already updated lockin terms on website.
4. What if hard cap doesn't reach - if that doesn't happen we will burn the remaining tokens however the other funds will remain the same! However, if soft cap doesn't reach we will be bring down the total supply proportionally to the tokens sold by burning funds from other addresses as well. This will make sure that we will continue to work towards our goal of changing the way marketing is done today.
I will appreciate if you can reconsider your rating based upon inputs. Thank You
