A new way to help ICO investors make informed decisions
Though we believe ICOs can be a great way to fund credible blockchain projects with real value for society while also generating significant returns for investors, being friends of credible founders in the space who have successfully raised tens of millions of dollars and ICO investors ourselves, we feel strongly for the need to ensure only the right projects are being funded in order for this to be sustainable.
Too many investors are investing in ICOs without even reading the whitepaper and having a good understanding of what the project is about.
“Of the 1,450 white papers downloaded from three popular websites that track coin offerings, the Journal found 111 that repeated entire sections word-for-word from other white papers.”
- Wall Street Journal (Buyer Beware: Hundreds of BitCoin Wannabes Show Hallmarks of Fraud)
Many of us would know of investors who invest just based on the size of the project’s Telegram group, and what is written on review sites where ratings are easily rigged by people shilling coins. We also know of those who leave a positive review for the sake of bounties and potential advisory positions. Pump-and-dump schemes are common at the detriment of retail investors, and the industry currently faces a deliverability crisis in ICOs which have ended.
The ICO investment market needs to mature and clean-up, if we want this to be sustainable and fruitful for all of us.
We started TokenScore to:
- Help everyone understand and analyse whitepapers, being the world’s first platform to allow for ICO whitepaper annotations
- Have ICO founders answer rigorous questions from the community which are clearly displayed on our platform in a clean and structured manner, and have investors think about the questions they might have forgot to ask before deciding to invest
- Give accessibility a wider group of investors who can help contribute to the deliverability of projects and dev community, like blockchain engineers for example, by facilitating the matching of people who can bring value to a specific ICO project with each other for pooling into pre-sale allocations
Very soon, we will also be announcing a system for keeping experts on our platform accountable for the reviews they give, rewarding reviews that correlate with the actual outcome of the ICO, and benchmarking these experts based on metrics that actually matter to investors.
What you see on TokenScore now is just a raw first attempt at a MVP of how we envision the platform can bring value to the community. Our entire team is working hard to improve it, so please let me know your suggestions, feedback or any thoughts you might have. You can email me directly at jiaqing@tokenscore.io, I’d love to chat.
Let’s secure the future of blockchain, and our future as stakeholders in this space, together.
