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RE: Community Standards for ICOs: Do's and Don'ts
I would like to see an ICO that distributes tokens through an uncapped process of staking, but only taking a small % of capital.
For instance, if you want to buy into a popular new protocol, you stake an amount of ETH for two weeks that represents the max you are willing to invest.
When the staking period is done and the number of ETH has been counted, a maximum of X ETH would be collected from all staked accounts.
If $100 million ETH is staked, and the project needs $5 million, they will take 5% from each stake and return 95% of the ETH staked to investors, along with the tokens.
Thoughts?
Too complicated for my simple list, but directionally good. The end point for ICO structures seem like it will be something like we see in regular capital markets (subscribe and allocate ratably with some tweaking) or one of Nick Johnson's auction contract dreams.