According to the EOS contract text, you are NOT BUYING access to the EOS platform, network, information, profit sharing, assets or ANY OTHER THING OF VALUE. In fact, the text is saying in no uncertain terms, that the token will have NO VALUE, NO PURPOSE, NO UTILITY.
Here are a few of the clauses in the contract:
"1.4. EOS Tokens. No Purpose. As mentioned above, the EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied. Although EOS Tokens may be tradable, they are not an investment, currency, security, commodity, a swap on a currency, security or commodity or any other kind of financial instrument. Company’s Use of Proceeds. Buyer acknowledges and understands that the proceeds from the sale of the EOS Tokens will be utilized by Company in its sole discretion."
"7.1. No Rights, Functionality or Features. EOS Tokens have no rights, uses, purpose, attributes, functionalities or features, express or implied. EOS Tokens do not entitle holders to participate on the EOS Platform, even if the EOS Platform is launched and the EOS.IO Software’s development is finished and the EOS.IO Software is adopted and implemented.
7.2. EOS Platform. Buyer should not purchase EOS Tokens in reliance on the EOS Platform because EOS Tokens are NOT usable on the EOS Platform and do not entitle Buyer to anything with respect to the EOS Platform."
READ THE CONTRACT. This token has NO value, will never have any value. So, again I ask the question What are you buying?
Please understand, I am not commenting on the eventual functionality of the EOS platform. That in and of itself may become a real game changer. It is the nature and language of the token offering that I have questions about. If, according to the contract, the only valid function will be trading, my question then becomes, why would anyone want to buy something that has NO FUNCTION or reason for existing other than trading. After all these are not super limited edition baseball cards.
There are MANY other issues I have with this ICO, I only mentioned the most important here. Comment on what I've said or let me know what it is I've missed. I really would like to know if I have misunderstood or misinterpreted the ICO terms.
I've been looking for the answer to this as well. I was expecting these tokens to be validated and claimed on the EOS network upon launch. But then you read what you posted and it just sounds like they're asking for donations.
seems like they want to pay it safe for now and in the future they will come up with some plans to validate these tokens on EOS network.
Perfectly!