kaal:claim:3067615-035

Capped token issuances became the dominant structure between 2016 and 2017 because a cap increases the likelihood that the ICO will be oversubscribed, which creates a significant incentive for investors to attempt to get in first.

Because of such concerns, capped token issuances became the dominant structure between 2016 and 2017. Capped sales increase the likelihood for the ICO promoters that the ICO will be oversubscribed, creating a significant incentive for investors to attempt to get in first.

Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags (2017), V. Red Flags, p. 21
https://ssrn.com/abstract=3067615 · source PDF

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

• ICO structures between 2016 and 2017

mechanismsupport: arguedrisk-and-incentivessecurities-law

• extended_by kaal:claim:3606663-011 Capped ICO raises, adopted by the crypto community to reduce investor uncertainty about platform valuation in ...

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