kaal:claim:3067615-036

The Gnosis ICO shows how a reverse dutch auction can mitigate the inefficiencies and risks of a capped sale: the offering was capped at $12.5 million and the time needed to complete the sale determined the quantity of tokens distributed to investors, with the rest held by the start-up team.

Source quote, verbatim

To mitigate the inefficiencies and the risks of a capped sale, the Gnosis ICO was structured as a reverse dutch auction

From

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

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

capped token sales exposed to first mover rush dynamics

Classification

designsupport: evidencedinstitutional-design

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