kaal:claim:3067615-006

The pre-ICO price of a cryptocurrency is set arbitrarily by the start-up team that structured the offering, while post-ICO price dynamics are left to supply and demand determined by the network of participants rather than any central authority.

Source quote, verbatim

A cryptocurrencies' *"pre-ICO price" is arbitrarily determined by the start-up team that structured the ICO, 24 whereas the post-ICO price dynamics are determined by supply and demand.

From

Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags (2017), II.1 Roadmap, p. 8
https://ssrn.com/abstract=3067615 · source PDF

Cite as

Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags (2017). SSRN: https://ssrn.com/abstract=3067615

Holds when

standard ICO pricing practice as of 2017

Classification

mechanismsupport: arguedtokenomicseconomicsdecentralization

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