Y Combinator Startup Podcast #70 - CoinList Cofounder Andy Bromberg and Ramon Recuero
Apr 18, 2018
Andy Bromberg, cofounder and CEO of CoinList, sheds light on the intricate world of token sales, emphasizing compliance and strategic fundraising. Alongside Ramon Recuero, they explore ICO complexities, legal uncertainties, and the evolving nature of tokens. Discussions include the regulatory landscape for crypto securities, the implications of airdrops, and governance in decentralized networks. They highlight the shift towards professional investment, advocating for transparency as the cryptocurrency ecosystem matures, all while encouraging responsible participation.
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Ideal Use Cases for Token Sales
- Token sales work best for distributed protocols needing funding or projects benefiting from early users as stakeholders.
- These sales enable competitive protocols and align incentives with early network growth.
Criteria for Token Sale Selection
- Evaluate token sale projects on team quality, product feasibility, and token economic design.
- Use formal legal diligence, advisory committees, and bad actor checks before recommending sales.
Token Security Status Over Time
- Initial token offerings are likely securities due to dependence on a central entity at issuance.
- Tokens may convert to non-securities later as networks decentralize and mature.