Metadium defends its controversial decision for a private-only sale. Announced a tiny crowdsale last week, and now an airdrop/bounty on top. : CryptoCurrency

This is proof that without community, projects are worth nothing! At least the team is acknowledging that they screwed up with the community. This project could have been huuuuge.

tl;dr:

  • 38,000 ETH (50% of max supply) was raised in an incredibly fast two days which they did not expect, leading for no room for public sale

  • they could have had a public sale, but so much of its remaining token allocation was already set to flow back into the community for developers, events, hackathons, etc.

  • but now they realize they have no community, leading to a small crowdsale and now an airdrop/bounty program

Do we laugh at them or feel bad for them?

You’ll see that 65% (around 24,700 ETH) of the funds is allocated to research and development. We should have made it more clear on what R&D entails.

“grants and monetary support for devs”

If we analyze the token distribution more in depth, you’ll see that entire team only really holds 17% of the tokens.

We will soon be announcing an airdrop and bounty program (total amount TBA, but most likely will be coming out of either Marketing or the Power to Ecosystem funds) in addition to the 2.5% crowdsale allocation to show that we really are serious about community building.

Article was posted here: https://medium.com/metadium/private-funding-is-allowing-the-metadium-team-to-focus-more-on-rewarding-the-community-of-f5c5df5e2b3a

Content source