Why we need community-sourced due diligence for token sales

ConcourseQ.io
Aug 9, 2017 · 2 min read

Introducing ConcourseQ.io

We launched ProveQ to make token sales better. The ProveQ token sale allocation method is the first piece. The second piece is due diligence. A fair allocation of tokens is useless if the founders plan to collect the Coin and Dash. We think community due diligence is the best due diligence. We named our community ConcourseQ.

We believe the public has a right to know, for instance, that Manuel Araoz denied any relation to the po.et team. He was mentioned as having worked with Esteban Ordano, Po.et’s CTO, on the Proof of existence 1.0 project prior to po.et, or that Kasian Franks (founder of Starmine) previous firm Mimvi Inc. paid NBT Group 1 million shares of restricted stock for sponsored research and investor awareness services. The SEC sued NBT Group for fraud related to penny stock promotion. You can read more “red flags” for upcoming token sales at ConcourseQ.io.

But we and others can’t do it alone. The industry is growing at an extraordinary pace (>$1b raised since June), and with that comes great responsibility and duty. Not just for sellers that have an obligation to be transparent, but also for buyers, who must demand that kind of transparency and engage sufficiently in due diligence to protect themselves from undue risk.

That’s why we encourage you to share any “red flags” that you encounter involving upcoming token sales. Together, we can make token sales more transparent, a safer vehicle to invest your money, and ultimately, a more thriving industry.


Are you thinking about participating in the 0x crowdsale? If so, check out their ConcourseQ page to make a more informed decision.

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