So the person issuing the token on selling it doesn't get any of the value? It all goes into the smart contract, reserved for buying it back?
Why would a company use bancor for their ICO if all their required capital is locked up in a smart contract permitting their investors to cash out?
What am I missing?
They do get value. If your ICO has a 10% BNT reserve, the other 90% of value captured is actually credit created. So basically you add 1 BNT to the reserve but the market cap of the project is 10 BNT.
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Thanks Paul. A few weeks too late d:
But others will no doubt benefit from this answer :)
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