The following ICO needs a DAO as the automatic recipient of funds upon successful completion. The ICO was built with wizard. Is it necessary to change the existing address? Also, will the funds be automatically returned if the ICO is not successful?
https://wizard.oracles.org/crowdsale?addr=0x067cB73287a16F301DDF79FD67eE33Bb60Ea2c12&networkID=3
The following ICO needs a DAO as the automatic recipient of funds upon successful completion. The ICO was built with wizard. Is it necessary to change the existing address?
Funds immediately go to the wallet address set in step 2 of Wizard after investors transactions. If you need to change funds holder, please, check instruction how to change it https://github.com/poanetwork/ico-wizard/wiki/Transfer-ownership
Also, will the funds be automatically returned if the ICO is not successful?
Wizard doesn’t use refund strategy.
After each transaction funds of a buyer of your token are deposited in a wallet that you specified during configuration
Thus, the funds will not be returned automatically… You have to return them yourself if you decide to refund your customers.
Since the total fund amount is gigantic ($15B), investors will need assurance that they will not be put into the hands of one person. (I wouldn’t even trust myself with that much money.) I am presenting the investment in a way that will also attract those who do not expect the project to succeed, by simply locking their funds until 1/1/20. So it is critical that:
The funds will be automatically returned if the fundraiser is unsuccessful,
The funds go into the DAO automatically upon successful completion, so that the investors have full control over them,
I know that both of these requirements are possible, because they are discussed on the above Ethereum website.
So the question is how to add these in. It can’t be too difficult. For me it would be a challenge.
In the code, the word “refund” is used many times, and the statement, /* if the funding goal is not reached, investors may withdraw their funds */ . So what language in the code is preventing the refund from being processed automatically? Or are you just saying that investors will need to reclaim their funds? Are the funds blocked from being used by anyone other than the investor of those funds if the goal is not reached?
Let me rephrase;
“Can the funds be blocked from being used by anyone other than the investor of those funds if the goal is not reached?”