Crypto ውስጥ Crowdsales: የመጀመሪያው (አንድ ነገር) አቅጣጫዎች እና የእነርሱ መስፈርቶች

ማንኛውም ሰው አንድ ፕሮጀክት ወይም የግል ሁኔታን በይነገጽ የፕላስቲክ ላይ ይሰጣል, እና ማንኛውም ሰው እነርሱን ለመረዳት ወይም የእነርሱ ትዕዛዞች ውስጥ መግዛት የሚፈልጉት ሰው አንዳንድ ገንዘብ ይሰጣል. በይነገጽ ላይ የኮምፒውተር ሽያጭ በጣም የተለያዩ አይደለም, ነገር ግን ይህ ሁልጊዜ አዲስ አስቀምጥ ላይ መግዛት ነው, እና ይህ ሁልጊዜ አዲስ መግቢያ ቶኮን ለመግዛት ያካትታል.

To be more specific, a crowdsale in the crypto space is a fundraising method in which a DLT-based project offers its native tokens (created by their team) to the public in exchange for established cryptocurrencies, such as Bitcoin or Ether, or fiat money, like USD or EUR. This process typically occurs before the project is fully launched and is often part of an Initial Coin Offering (ICO) or a similar token distribution event. Crowdsales allow early supporters to acquire tokens at a fixed or tiered price, and the funds raised are generally used to finance the development and deployment of the project’s ecosystem or platform.

ICO, by the way, was the most popular type of crypto crowdsale some years ago. And, between 2017 and 2018, it was in charge of demonstrating everything that could go wrong with this new and unregulated model.

አስደናቂ የ track record

የ ICO አንድ ሰው (በይነመረብ እና ዝቅተኛ ደረጃ የኮምፒውተር ንጥረነት ጋር ማንኛውም ሰው ሊሆን ይችላል) አንድ ድር ጣቢያ, አንዳንድ ማህበራዊ ቻይናዎች, እና, ለእኛ ፍላጎት ከሆነ, አንድ የኮምፒውተር ፕሮጀክት ለማቅረብ (የይነመረብ ጋር ማንኛውም ሰው) አንድ ዓይነት አዲስ የኮምፒውተር ፕሮጀክት ይሰጣል.No laws, no limits, and no more requisites than a crypto wallet and a dream.

በ 2017 እና 2018 ውስጥ, የ ICOs ታዋቂነት ይቀበላሉ, በፍጥነት crypto startups (እና የክፍያቾች) ገንዘብ ለመውሰድ መንገድ ሊሆን ይችላል. በ Mastercoin እንደ ፕሮጀክቶች ጋር ቀጥተኛ ሁኔታ ተጀመረ ነገር በቂነት ተለዋዋጭ ነበር, በ Ethereum የመጀመሪያው ስኬታማነት ፍላጎት ይሰጣል: የመጀመሪያው ደንበኞች ለ ETH ብቻ $ 0.31 አግኝቷል - አሁን $ 1,600 በላይ ነው. የ Tezos, Filecoin, እና EOS ያሉ ትልቅ ስምዎች ሚሊዮን (እነርሱ ቢሊዮን) አግኝቷል, እና ከባድ ቫይቶፕ እና አንዳንድ ማርኪንግ ጋር ማንኛውም ሰው በቂ ደቂቃዎች ውስጥ የገንዘብ ማግኘት ይችላሉ.

But behind the hype, problems grew. Many teams had no working product and still walked away with millions—some didn’t stick around at all. A 2018 report by ግምገማዎች found that nearly 80% of ICOs from the previous year were outright scams. By the end of that year, prices crashed, trust evaporated, and funding dried upበ 2019 ውስጥ በ 95% በ 1 በ 10 ፕሮጀክቶች ብቻ በእርግጥ ሊሆን ይችላል.የ ICOBenchመጨረሻው, የዩናይትድ ስቴትስ (የዩናይትድ ስቴትስ) በዩናይትድ ስቴትስ (የዩናይትድ ስቴትስ) በዩናይትድ ስቴትስ (የዩናይትድ ስቴትስ) በዩናይትድ ስቴትስ (የዩናይትድ ስቴትስ) በዩናይትድ ስቴትስ (የዩናይትድ ስቴትስ) በዩናይትድ ስቴትስ (የዩናይትድ ስቴትስ) በዩናይትድ ስቴትስ (የዩናይትድ ስቴትስ) በዩናይትድ ስቴትስ (የዩናይትድ ስቴትስ) በዩናይትድ ስቴትስ (የዩናይትድ ስቴትስ) በዩናይትድ ስቴትስ (የዩናይት

የ ICOs መስፈርቶች

After 2017, regulatory agencies around the world began scrutinizing ICOs due to the increasing concerns. Governments responded in different ways. China and South Korea imposed full bans on ICOs, while others, like Australia, New Zealand, and France, released regulatory guidelines or introduced opt-in frameworks. The U.S. took a case-by-case approach, driven largely by the Securities and Exchange Commission (SEC), which began classifying some ICOs as unregistered securities offerings.

A key tool in the SEC’s evaluation is the Howey Test, a legal standard used to determine whether a financial transaction qualifies as an investment contract—and therefore, a security. If a token sale involves an investment of value in a shared venture, with expectations of profit derived from someone else’s work, it likely passes the test. Many ICOs, especially those promoting future profits or development promises, met these criteria. When they did, they triggered strict securities laws and regulatory requirements.

አንድ ምሳሌ ነው Block.one, የ EOS ተመሠረተ ኩባንያ, ይህም በ ICO እና ከዚያ በኋላ ከ 4 ቢሊዮን ዶላር ይሰጣል.settledሌሎች ፕሮጀክቶች, እንደ Centra Tech እና Munchee, ከባድ ትዕዛዞች ወይም ሙሉ በሙሉ ተሸክለዋል.clarified that promotional endorsements, like those by celebrities, must disclose payments to avoid misleading investors.

As regulatory pressure mounted and the investor trust in the old model evaporated, the crypto space adapted. New models like Security Token Offerings (STOs) and Initial Exchange Offerings (IEOs) emerged, focusing on compliance and investor protection. These alternatives signaled a shift toward more structured, legally sound fundraising strategies.

አዲስ Crowdsale ሞዴሎች

People still launch and participate in ICOs, but crypto projects today also use other types of crowdsales to raise funds, each with distinct methods and levels of oversight. Security Token Offerings (STOs) rely on tokens backed by tangible or financial assets, such as real estate or company shares, and are subject to securities laws. These tokens represent ownership rights or financial benefits and must follow strict regulatory frameworks, especially in jurisdictions like the U.S.

STOs often require investors to be accredited, ensuring they meet specific income or asset thresholds. This approach offers legal protections and aligns closely with traditional investment models but in a tokenized form. On the other hand, Initial Exchange Offerings (IEOs) and Initial DEX Offerings (IDOs) serve as alternatives that bypass some regulatory hurdles. The latter type, especially, is largely immune to most regulations because funds are handled in a decentralized way, and users have to check for red flags by themselves (liquidity pools, smart contracts, etc.)

IEOs are organized by centralized exchanges, which manage the token distribution and require projects to meet certain listing standards, such as a clear whitepaper and technical setup.የ IDO, በእርግጥ, decentralized exchanges (DEXs) ላይ ይሰራል, በቀላሉ የክፍያ እና በስፋት መዳረሻ ይሰጣል, ነገር ግን አብዛኛውን ጊዜ ዝቅተኛ መቆጣጠሪያ ጋር. ሁለቱም አማራጮች ያልተፈቀደ ኢንቨስትመንት ተስማሚ ሊሆን ይችላል, ነገር ግን IEOs እንደ ተስማሚ ተስማሚ ተስማሚ ተስማሚ ተስማሚ ሊሆን ይችላል.

Other forms like Initial Farm Offerings (IFOs), Initial NFT Offerings (INOs), and Initial Game Offerings (IGOs) expand crowdfunding into DeFi, digital collectibles, and gaming. IFOs typically require users to contribute to a liquidity pool using the DEX's native tokens in exchange for early access to new project tokens. INOs involve the sale of NFTs that may carry ownership or access perks, while IGOs focus on gaming-related assets or tokens. Most of these models avoid the need for accredited investor status but still carry risks due to market volatility and limited regulation, similar to the original ICOs.

የምስክር ወረቀቶች

As mentioned above, some new, regulated crypto crowdsale models require investors to be accredited. An accredited or verified investor is someone who meets specific financial or professional criteria that allow them to invest in opportunities not open to the general public. Depending on where you live, the requirements may vary. In the U.S., for instance, you typically need a net worth above $1 million (excluding your home) or an annual income of at least $200,000 for the last two years.

In the crypto world, accredited investors gained importance after the ICO boom and mess of 2017. To reduce risks and comply with evolving regulations, many crypto projects started limiting their fundraising to verified investors only. Crowdsales such as STOs and some IEOs now often require participants to be accredited. This is especially true when tokens represent ownership of real-world assets or follow securities laws. While this narrows access, it also helps build a more trustworthy environment for both investors and creators.

የ CryptoFundraising አጠቃቀም ሁሉንም ዓይነት ውስጥ ተጫዋቾች ይፈልጋሉ, የእርስዎን አክሬዲት ኢንቨስትመንት ሁኔታ (እርስዎ አንድ ከሆነ) ማረጋገጥ አስፈላጊ ነው.Obyte ecosystem, this process is simple and secure. Within the Obyte wallet, you can find the “Accredited Investor Attestation” chatbot in the Chat menu – Bot Store. If you meet the US requirements to be accredited, the chatbot helps you verify your status using documents like financial statements or letters from a licensed professional. The attestation is published on the Obyte DAG, so if the crowdsale is conducted on the Obyte platform, you won’t need to share your documents again—just the proof of verification. This unlocks access to a broader range of investment opportunities while keeping things decentralized and transparent.

በ Macrovector / Freepik የተመሠረተ የ Vector Image