The State of ICO (June 2018)
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The presentation outlines the state of initial coin offerings as well as an outline on how to safely conduct an initial token offering.
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The State of ICO (June 2018)
- 1. THE STATE OF ICOS
- 2. Initial Coin Offerings .00 M 500.00 M 1000.00 M 1500.00 M 2000.00 M 2500.00 M
- 3. Big Picture $95 Million (43 ICOs) $3.88 Billion $10.1 Billion 1,736 completed ICOs 201 6 201 7 201 8 ytd ALL
- 4. Top Ten ICOs 2017/2018 Name Category Ended On Total Raised EOS Infrastructure 7/1/2017 $3,900,000,000 Telegram ICO Communications 3/31/2018 $1,700,000,000 Petro Governance 3/19/2018 $735,000,000 Dragon Gaming & VR 3/15/2018 $320,000,000 Huobi token Trading & Investing 2/28/2018 $300,000,000 Hdac Communications 12/22/2017 $258,000,000 Filecoin Data Storage 9/7/2017 $257,000,000 Paragon Drugs & Healthcare 10/15/2017 $183,157,275 Bancor Infrastructure 6/12/2017 $153,000,000 Bankera Finance 3/1/2018 $150,949,194
- 5. Birth & Evolution Of ICOs 1st ICO - Mastercoin Ethereum ICO ERC-20 “ICO” Standard EOS & Airdrops 7/2013 7/2014 11/2015 2018
- 7. TGE – Technical Breakdown PRE POST
- 9. Where are you? Existing Business Token Existing NEW Blockchain Public Private Startup Project Blockchain Public Private Token NEW Existing
- 10. Where are you going?
- 11. Example: GDAX
- 12. Why are you going?
- 13. Getting listed Tea m Technolo gy Regulati on Market /Dema nd Crypto Economics Token Distribution
- 15. Message
- 17. Whitepaper Essentials Blockchain Token Protocol Decentral WHY?
- 18. Blockchain Options Transactions Cost Yes No Yes Yes No (n/a) Transaction Times Minutes Seconds Seconds Seconds Seconds Consensus Mechanism PoW PoS SCP POI PBFT Degree of Centralization Low High N/A N/A N/A Coding Languages Solidity C++ Javascript Java Javascript
- 19. Check List ❏Token Issuer Banking Community Whitepaper Smart Contract Token Distribution (KYC&AML) Exchange Listings
- 21. SEC Mission The mission of the U.S. Securities and Exchange Commission is - to protect investors - maintain fair, orderly, and efficient markets, and - facilitate capital formation. https://www.sec.gov/Article/whatwedo.html
- 23. SAFT
- 24. Community
- 25. Need to Know Your Customer?
- 28. Custody
- 29. Questions
Editor's Notes
- CoinMarketCap lists: 1,629 (was 1,645 a week ago – 16 tokens delisted) 1,800+ ICOs are currently active with canother 100 ICOs scheduled to launch in the next few weeks.
- Top 10 ICO 2017/18 raised 56% Top 50 ICO 2017/18 raised 74% ICOs such as Telegram included VC such as: Benchmark Sequoia Capital Kleiner Perkins
- Mastercoin raised BTC $500,000 (went up to $5MM) Ethereum raised $18.4 in BTC
- Initial Coin Offerings: Most are actually “Initial Token Offerings”. In a narrow sense only cryptocurrencies – such as Bitcoin – can claim to be “coins”. Most “ICOs” are indeed just creating TOKENS using an Ethereum interface – ERC20. Pre-Ethereum: Pre-Mine
- Before Ethereum ERC-20 standard: pre-mine or insta-mining – i.e. artificially decreasing the mining difficulty BitCoin max: 21 Million 80% mined – all mined in Currently no cap on Ethereum; Vitalik proposed cap 120 Million Non-Mining Blockchains: Ripple, IOYA, NEM, MEO, Waves, EOS
- - enable wallets to provide token balances for hundreds of different tokens - allows exchanges to list tokens by providing nothing more than the address of the token’s contract
- Assuming that one of the objectives of the project is to list the token created for the ICO at exchanges, it is important to understand the requirements for getting the token listed. Popular exchanges will charge $50,000 or as much as $1MM to list a token. Additionally, almost all exchanges have a due diligence procedure – sometimes resembling the scrutiny applied by venture firms onto startups. US exchanges have the most stringent requirements, and will not list any token which could be considered a security by the United States’ Security and Exchange Commission.
- As of the beginning mid June 2018, GDAX – which is becoming “CoinBase Pro” at the end of the month – only list FOUR coins: Bitcoin; Ethereum; Bitcoin Cash; Litecoin Coinbase announced to add Ethereum Classic On its website, GDAX provides a detailed list of the factors the exchange evaluates before listing a digital asset.
- Before we are going through the checkpoints for getting listed, lets discuss what the project is trying to achieve with it’s ICO. Need FIAT money Need BANK account KYC & AML and team and new entity
- Investors: Syndicates
- Also: developer support / size of community
- Generally, accredited investors include high-net-worth individuals, banks, financial institutions and other large corporations, who have access to complex and higher-risk investments such as venture capital, hedge funds and angel investments. In the United States, to be considered an accredited investor, one must have a net worth of at least $1,000,000, excluding the value of one's primary residence, or have income at least $200,000 each year for the last two years (or $300,000 combined income if married) and have the expectation to make the same amount this year. The term "accredited investor" is defined in Rule 501 of Regulation D of the U.S. Securities and Exchange Commission (SEC) as: a bank, insurance company, registered investment company, business development company, or small business investment company; an employee benefit plan, within the meaning of the Employee Retirement Income Security Act, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5 million; a charitable organization, corporation, or partnership with assets exceeding $5 million; a director, executive officer, or general partner of the company selling the securities; a business in which all the equity owners are accredited investors; a trust with assets in excess of $5 million, not formed to acquire the securities offered, whose purchases a sophisticated person makes."
- Catch 22