RE: NaPoleonX, the First 100% Algorithmic Crypto-Asset Manager, Officially Launched its ICO on January 22nd
Hi, thanks for the post. I looked at NapoleonX ICo but wasn't convinced for several reasons.
Their Whitepaper was littered with typos, whilst i know they are not native English speakers...they could have paid someone a bit of money to proof read it at least. Especially considering how much money they want to raise.
Reading the way they plan to do the profit split is just plain confusing to me. They really over complicated it and I believe any institutional investor reading it would probably not touch it (they probably also wouldn't be impressed with the white paper typo's - so if that's who they are targeting i don't think they will get very far).
There is also no real need for the to raise money? Why do they need a decentralised way to raise money for their Asset management firm? All the money is going to a centralised place (their fund) - i don't see why they need blochchain tech for this. Centralised method of fundraising could do the job easily.
Finally i couldn't help to wonder why they don't just raise the capital privately? If their trading track record is decent there is plenty of appetite from private investors to invest in crypto - why do they need to go through the trouble of an ICO?
Sorry this is all negative but its just my 2 cents on the concept.