What we think about the current state of the cryptocurrency ICO market
Without a doubt we reckon that the current cryptocurrency market is in a financial bubble. Tons of projects are in ICO, raise a lot of money but in the end will they survive and do they have a plan if the bubble ever burst ? To this date, we have yet to see a white paper with a “bubble disaster recovery plan”. Maybe they are afraid of losing money by telling the truth or they are simply in denial of the situation.
We believe that to reduce the risk of losing investments one must be prepared and acknowledge the bubble situation. Those who knew and got prepared fo the last tech bubble are still alive today, others did simply vanished as unfortunate fly-by-night.
What is Kryptopy doing about it
An ICO, such as the Kryptopy ICO or Pre-ICO, needs to be considered like any contribution or investment made in any other type of business: with caution, risk assessment and due diligence of the project and its team. More importantly, the long-term vision as this is usually where real returns happens.
Kryptopy does not want a very high valuation just to deceit the contributors after because we cannot be up to it. We prefer to be reasonable in our funding phase and transparents at all time. This is why we are taking great care to make sure everything is in place legally and insure the success of the project for our team as well as our contributors.
Some of the measure we are taking to face the situation and make it safer is to not allow all of the funds to be available at once. We do not pay anyone outraging salaries, nor anyone will receive 1 million dollar compensation. All of our salaries will stay very reasonable and will be disclosed publicly. This will allow us in the case of a disaster to have funds to face the difficult period and face our obligations towards our contributors. Let’s face it, without contributors / investors / supporters this project could not even exist. We are telling our future contributors in advance : “We owe you one !”
This was a very personal opinion written by – Nicolas Cloutier, CEO and Co-Founder of Kryptopy.
We invite you to send all of your questions our way so we can answer them and help you in your due-dilligence about our project.
You can send such request to one of the co-founder :
Nicolas Cloutier, firstname.lastname@example.org
Cody McBryan, email@example.com