I’ve just experienced a failed ICO that I used to promote here before. I am not an active ICO investor and this may be my 3rd or 4th ICO participation, but the first to fail. Below are a couple of interesting facts and thoughts throughout this failed ICO experience:
- ICO is not a guaranteed success in the crypto space anymore.
- Timing for a token sale can be vital. New project is likely to fail in a bear market when the hot money is getting away and investors tend to hold fewer altcoins.
- Smart contract is being used in the token sale for token distributing and refund. No fraud and no dispute, everything is executed smoothly. First time I witness the power of smart contract.
- The telegram has 36k member and can’t even meet the 4000 ETH soft cap which is the direct cause for the ICO to fail. Most of the members are just there for airdrops, or even scamming.
- Members of Telegram channel repeatedly reported for being scammed. This is a dangerous space to join if you don’t know the rule here.
最近经历了第一次失败的 ICO 筹资，有些小小的心得：
- ICO 已经不再是万无一失的招财树。
- 在错的时间（熊市）办 ICO，很大机会失败。
- 此 ICO 使用 Smart contract 来分派代币和 ICO 失败后归还 ETH。一切都是非常顺利可靠，不用担心有人从中作梗，强大非常。
- Telegram 群会员有三万六千人之多，却凑不齐区区 4000 ETH 的众筹目标。看来很多人都是为空降糖果和骗人而来。
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