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RE: EOS Announced Its Token Distribution Terms - It Will Be ECR20 / Ethereum
This is really, really interesting.
Probably makes sense from a business perspective.
I really wonder how this will fair:
The EOS Token sale will be conducted on a continuous distribution model for 1 year. 1,000,000,000 (one billion) EOS tokens will be minted at the start of the sale. These tokens will be split into different rolling windows of availability. The tokens for a window will be split proportional to all contributions made during the window period.
At the start of the sale, 20% of the total minted tokens (200,000,000 EOS) will become available during a 5 day window.
The remaining 800,000,000 EOS will then be split evenly into 360 one-day windows of 2,222,222.222222 EOS tokens each.
Well this sure will be interesting. I have to give credit to Dan for trying new things. Will the tokens be unlocked right after or soon after each window closes?
Not sure. I have a feeling this is going to be problematic. Not sure how the FOMO will deal with the ICO every day.
https://steemit.com/ethereum/@kyle.anderson/eos-the-ethereum-killer-with-an-erc-20-debut-what-is-up-with-this-strange-ico
Yes
Having a website that shows line graph of price progression for each window and price/eos ticker for current window with timer would be well appreciated by the community.
If the official team is busy, try to mention the need for it and how there are rewards waiting for him in Steemit. We want this data to be easily reachable by everyone so they feel more in control and would go miles to make this ICO the fairest so far.
Thank you for your work.
At first thought, I would say that I'm happy with the long distribution. Basically 361 individual fund-raising events. In my opinion, it sounds like a better strategy than say the BAT ICO, which ended so quickly very few could get in, and somebody spent ~$6000 in gas, I heard, just to guarantee a spot in the queue.
https://steemit.com/ethereum/@kyle.anderson/eos-the-ethereum-killer-with-an-erc-20-debut-what-is-up-with-this-strange-ico
Yeah. It will be interesting. I expect some sort of FOMO waves with the price.
You're almost certainly right about that. I guess ETH-cost averaging is probably the best strategy for those who are interested.
Yeah. It is going to be an interesting one. Due to the length of the sale, I might choose the wait and see strategy.
BTW I just saw on another post Dan mentioned that the tokens will also be tradeable during the fund-raising. So as soon as the first 5 days are up, the EOS will be distributed and trading, meanwhile the additional fundraising events will be ongoing. Definitely will be interesting to watch at least.
Thanks for that clarification. That at least makes for some interesting speculation. Also tells me that EOS is not quite ready for release.