On Monday, Neufund – the company I work for – announced the dates for their "sort-of-but-not-really-ICO". It's kind of an ICO, in the sense that people send funds and we issue a token. But it's also not an ICO, because technically nobody buys the token and we can't do anything with the funds: they stay in the user's control even after having submitted them.
I'm pretty sure by now you'll be thinking "huh?"
Yeah, I know. It takes a real switch in mindset to get it. Let me put it like this: as a marketplace for investments we have the same problem every other marketplace has, to bring both sides of the equation to the table in sufficient numbers for any activity to take place. The way we achieve that is to use the by now popular ritual of an ICO and adapt it to our purposes.
When you send your funds to our smart contract, you commit your funds for later use on the platform to make your own investments. Really! And as a reward for doing so, during our ICBM you receive NEU – our protocol token – for doing so.
ICBM? Isn't that this rocket or something?
Yes, "rocket man" is so dangerous precisely because he has ICBMs capable of reaching US mainland. Here, ICBM stands for Intercontinental Ballistic Missile.
That's not the type of ICBM we've designed. In our case, the acronym stands for Initial Capital Building Mechanism.
For everything else, you'll have to take a look at the explainer video, or peruse our Lightpaper (or the 60-page Whitepaper).
Honestly, by now I think we've earned this: 🚀🚀🚀 TO THE MOON! 🚀🚀🚀
If there's any project that can say it justifiably, Neufund must be it...
P.S.: There's a bounty program. Join us and let's #ReimagineICOs together!
