Some ICOs Fail — Others Learn
Did you know that the best way to win a fight is to avoid having one? The same can be said about mistakes: the best way to learn from them is to avoid making them. Instead, you do what wise people do — you learn from the mistakes of others.
According to the latest figures, 46 percent of ICOs have failed and another 113 ICOs fall under a category of semi-failed. The failure rate combined is staggering 59%.
In recent couple of years many ICOs have emerged: some were successful and memorable; others were just memorable.
For example, Onecoin was a marketing Ponzi-scheme that did not even create any tokens or had a working prototype.
Another ICO, Coindash was poorly executed with some holes in the security that made it a victim of a hacking attack.
Although the DAO promised transparency and decentralization, it did not only had had a major bug in the smart contract that made people lose about $50 millions, but had faced many security breaches.
Tingo Coin had issues regarding the transparency of the team members; however, their downfall was evident from their misguided purpose. It had a highly-specific focus on becoming ‘Africa’s first Agriculture VAS-backed blockchain option.’
Other ICOs simply failed their supporters: they collected the money and went to collect sea shells. They have abandoned their social networks, they have shut down their websites and left their communities dazzled and poor.
There are a few signs of an early failure, such as limiting a usage of a new cryptocurrency, having a limited and very specific market, lack of intrinsic value of tokens, not a decentralized system and a lack of response from the team.
I could just paint you a sunny picture and say that none of the above applies to our ICO, but I can do better, I can give you details. Because I know that you deserve assurance that your contributions won’t be stained by the failure of yet another ICO that you put your faith in. Because details persuade, rather than tell, they show. They make our subsequent abstractions and conclusions count. So, let me show you why we won’t fail you and ourselves.
1. Ternion tokens are held by the Ternion Liquidity Fund and are backed by two distinct business entities, however they are decentralized for all functional intents and purposes; furthermore, decentralization increases security of the system by distributing control over a shared ledger.
2. The Ethereum Platform infrastructure provides security: a smart contract within the Ethereum blockchain that cannot be changed once utilised.
3. At Ternion, we uphold transparency and our Exchange is regulated by the Estonian legislation. Our members have valuable and relevant expertise and do not operate behind the curtains.
4. At Ternion, we understand the importance of growing an organic community. We are always available 24/7, and we are active on our social media channels.
5. We have a beta version of our working prototype ready and a demo version with a crypto-fiat exchange will be available soon.
6. We aim to transform the future and reconcile the traditional financial institutions with cryptocurrency, thus making cryptocurrency beneficial and accessible for everyone.
Some ICOs have good intentions and poor execution, others have good execution and poor intentions. We have good intentions and execution. We have capacity and desire to strive for the moon. We learn from the mistakes of others. We don’t simply listen and watch — we hear and see.
Ternion is the tomorrow that you are dreaming about today.
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