When is the Pre Sale planned?
When is the Crowdsale planned?
Do you accept community members from the USA?
While the current legal situation with the USA is far from black and white, we have advice that Cornucopia is a Utility token, thus there is no compelling reason why Cornucopia should not accept contributions from US residents/citizens. We reserve the right to continually revisit our position.
Would HORN be classified as a “Security”?
No, it should not be.
It is very important to note that Cornucopia is building a ratings and trade signals platform for the pre-IPO industry. At present pre-IPOs are not well reserched outside private venture capital analysts, thus there is a strong need to evaluate such opportunities. The income component generated by Cornucopia is designed purely to be an incentivisation mechanism which encourages HORN holders to continue to initiate and curate ratings on pre – IPO opportunities, and regulate the conduct of their peers via reputation management. HORN acts as proof of membership for a software platform that leverages a reward mechanism which, in turn, requires HORN holders to participate in order to achieve any gains for themselves.
We are advised that the element of participation and interaction required on the part of HORN holders further allows HORN to avoid classification as a security, pursuant to US securities laws, as it is much less likely to fail the “Howey Test”. This is due to the fact that the requirement for active participation on the part of each HORN holder considerably lessens any suggestion that an expectation of profits is dependent upon the actions and efforts of others.
Cornucopia utlises the Ignite RATINGS platform and places the burden of generating “profits” squarely into the hands of the HORN holders themselves, and there is no expectation of profits for those token holders who do not actively participate in the ratings process.
Please see our completed “Securities Law Framework” self-assessment checklist from IGNT for more information – this document has been produced as a result of an initiative between Coinbase, Coin Center, Union Square Ventures and Consensys.
Do I own a part of the Cornucopia INDEX?
The IPO index is an investment vehicle created by Cornucopia for the purposes of incentivize and aligning the interest of token holders. The pre IPO index itself is owned by Cornucopia, but we entrust its management to our community members and we reward them for its successes.
Cornucopia does not hold or manage any monies on behalf of third parties.
How does the Rewards mechanism work?
Cornucopia holders are eligible to participate in, and benefit from, the incentives created by the Cornucopia ecosystem.
Cornucopia is an entirely community-driven product, active participation is required on the part of the community to deploy capital from the index and realise trading gains.
In addition to income incentives, the pre-IPO index should also grow in value due to 30% of trading gains, and 100% of any distributions received from its holdings, being reinvested – so the earning power for HORN holders increases with each profitable trade, as the amount of deployable capital increases.
What do you do to prevent your systems from being manipulated?
Cornucopia leverages the Ignite platform which has been built to ensure that any meaningful manipulation is not only technically difficult, but also entirely impractical and financially-limiting. The Ignite platform is one that is built on trust and peer review – within the community, an individual’s reputation goes a long way but, similarly, will only take them so far. As in the real world, reputation is earned, not given.
How do you prevent “trash” ratings?
The answer is very simple…any community member’s ratings, submissions, contributions, content are subject to the review of any other community member – such that any user’s interaction is, itself, rated by the community. In this way members are responsible for moderating their own community and the quality of the ratings. In addition, members who continually submit low quality ratings (as assessed by their peers) will detrimentally affect their reputation score, to the point where they are no longer eligible to participate and have no impact on ratings. Members with lower reputation scores and/or who are less active on the will also have reduced income potential until such time as they start to submit quality reviews and ratings.
What will the ICO/crowdsale contributions be used for?
80% of the contributions will be used to seed the Cornucopia index. 20% of the contributions will be used for the day-to-day operations of Conucopia including continuing to build out new features on the platform and the continued source for allocations in exciting pre-IPO opportunities.
How are my contributions secured?
As this is a USD based product, we will, at the closure of the ICO, liquidate our ETH position and move to USDT, while keeping sufficient funds in bank accounts to take advantage of pre-IPO opportunities. We believe in deploying capital as transparently as possible. As such, an internationally renowned professional services firm will be a mandatory signatory on our accounts. Funds which are not deployed in our wallets and/or on an exchange are kept in cold storage in a secure location.
When will HORN be listed on exchanges?
HORN is in discussions with several exchanges.