People that follow the Enigma Catalyst project may have noticed that the Enigma Catalyst max hard cap was increased by 150% a few days ago to 45 million USD.
I can not back a big and cardinal change so close to the ICO (11th of September)
But I did miss a BIG part of the picture:
100% of the funds collected are used for development of the project.
As stated:
Note: As a reminder, the breakdown of Enigma’s use of funds raised in our token sale is:
60% for product and technology development
15% for blockchain research
10% for operations
10% for marketing purposes
5% for legal and administrative costs
Some ICOs allocate 10-20% of the initial cap that they raise straight to their personal pocket.
I assumed that this is also the case here.
I was wrong.
The main long term incentive of the team is their 25% token allocation that will follow a lock up structure.
I'm again very confident in the Enigma Catalyst project, I will join them in their ICO