Safex ICO details & pitfalls


#1

Does anyone have the stats of the ICO? How many coins & at what price were sold. Was there a limit per person? (probably not right cause KYC wasn’t that big a thing back then).

Was $50k all that was raised? It’s hard to imagine 1 person could have purchased almost the entire supply of Safex.

I’m asking because while Safex Cash attempts at greater decentralization with the S-shaped emission curve, Safex Token’s ICO would have put a majority of the coins in the hands of the few. About 30% of total supply is owned by the top 25 addresses.

So basically less than 25 people own almost 1/3 of total supply. This way we can see if the structure of the Safex ICO has led to a more centralized distribution of tokens.

Maybe they could have used an economist when preparing for the ICO. Do KYC and limit the max supply that could be purchased. Or set aside 10-20% of Safex Token for community rewards etc.


It would be a really interesting study to breakdown all crypto and their distribution of coins, this way we can know if Safex’s ICO structure has led to a more centralized distribution of coins.


#2

Where have you read about a safex ico? To my knowledge there has never been an ico.


#3

There was an ico, and you can’t find any info because back then (nov 2015 - april 2016) it was called a crowdsale. I think most of the info you need can be found here: Officially, Safe Exchange - Crowdsale


#4

I thought safex IS an ICO. It will exchanged for SafexCurrent or something similar sounding. I don’t know too much about it.I just have watched Dans videos and I believe that what ever he is setting out to do, he’s going to achieve because he is clearly smart, honest and very hard working. In return for that method of thinking, I have almost 5 times my initial investment of 100 bucks. Thanks Dan! Keep up the good work.


#5

It’s a placeholder token for the actual blockchain, it doesn’t affect value.


#6

The crowdsale was ~300 participants; 50,000$ raised at that time; the valuation of that what was raised today would be almost 1m$

We launched at that time we were the only “ico” “crowdsale” within 3 months.

In the beginning it was quite centralized but today we have over 11,000 address holders; and the prices were much smaller so the distribution has significantly expanded.