Using Stellar for ICOs

Re:Using Stellar for ICOs by notliketherest on Wednesday August 02, 2017 @06:15PM (#14915183)

Ever since Stellar threw away their legacy (Ripple) code base, I've actually paid attention to what they're up to. I believe they have the best tech for this ICO movement. FTA: "Stellar is an excellent choice for any ICO that does not require Turing-complete smart contracts and can benefit from immediate creation of a secondary market." -> IMO this is 95% of the Ethereum ICO use cases.

Unfortunately, the developer mind share isn't there, and the price of their coin makes it prohibitively hard to raise money. If you want to raise $100M ICO on Ethereum you need .3% of the market cap. With Stellar, you'd need 30%.

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Re:Using Stellar for ICOs by wmf on Wednesday August 02, 2017 @07:24PM (#14915587)

I haven't followed Stellar closely, but shouldn't it allow you to buy an ICO directly with, say, USD instead of having to detour through XLM? Of course, this would probably reduce the "sure, I'll spend some of my Internet play money on some Internet play stock" effect.

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Re:Using Stellar for ICOs by notliketherest on Wednesday August 02, 2017 @07:50PM (#14915753)

Yeah it does, you just have to have USD "tokens" on the network (ie, an ico whose tokens are backed by dollars). Then you can exchange directly through the built in decentralized exchange.

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