{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/ico-structure",
 "identifier": "kaal:entity:ico-structure",
 "name": "Ico structure",
 "termCode": "ico-structure",
 "inDefinedTermSet": {
  "@id": "https://wulfkaal.github.io/entities/index.json"
 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
 "canonicalForm": "https://wulfkaal.github.io/entities/ico-structure.md",
 "sha256": "e69dcba2c59f323bdd9087be5c7c35a3a91cb6c3e4af89ec1800130b8ae2de13",
 "additionalProperty": [
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   "value": 2
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   "@type": "PropertyValue",
   "name": "year_span",
   "value": [
    "2017",
    "2017"
   ]
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 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3067615-018",
   "identifier": "kaal:claim:3067615-018",
   "text": "The 2012 to 2017 ICO model allowed cryptocurrencies to be raised through a token sale without any conditions, landmark requirements, or security measures to protect investors, so that in essence promoters could use ICO proceeds as they pleased.",
   "abstract": "First and foremost, the 2012-2017 ICO models allowed cryptocurrencies to be raised via a token sale without any conditions, landmark requirements, or security measures to protect investors.",
   "citation": "Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags (2017). SSRN: https://ssrn.com/abstract=3067615",
   "datePublished": "2017",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "ICO models prevailing between 2012 and 2017"
   ],
   "source_pdf_sha256": "164ce15b9eb1e8847ebcb073f5b23a96b4974ad0308d77469a9455d4a1ebeb38",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3067615-035",
   "identifier": "kaal:claim:3067615-035",
   "text": "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.",
   "abstract": "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.",
   "citation": "Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags (2017). SSRN: https://ssrn.com/abstract=3067615",
   "datePublished": "2017",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "ICO structures between 2016 and 2017"
   ],
   "source_pdf_sha256": "164ce15b9eb1e8847ebcb073f5b23a96b4974ad0308d77469a9455d4a1ebeb38",
   "status": "current"
  }
 ],
 "description": "2 claims in the published works of Wulf A. Kaal carry the concept tag 'ico-structure'. Derived node: a roster, not an adjudicated definition."
}