Unofficial Raiden Duction Auction FAQ

UnofficialRaidenAuctionFAQ

Raiden ICO Date: October 18 

ICO Details: ICO will be a Dutch Auction, no registration or whitelist needed. There is no presale, private sale, or bonuses. 

ICO Strategy for Investors: It is advisable to NOT buy any tokens until the price comes down to a level you feel comfortable buying. 
It is common for investors to panic and get into a frenzy and buy as many tokens as possible, despite the price. PATIENCE IS KEY.
Just keep in mind the use case of the RDN token. Is 1 token really wortH 2 ETH? The RDN token is a utility token, used to pay
for services on the Raiden Network, so ideally the token should be very cheap. Keep this in mind when bidding. Ideally 
the auction SHOULD LAST UNTIL THE LAST DAY. 

KYC Details: The max amount of ETH that can be used to bid will be 25 ETH without KYC. KYC will be required for high purchase orders. 

Token Metrics - 50 million tokens will be sold during auction, Tokens will be distributed after the one week "cool down period". More can info can be found here:
https://medium.com/@raiden_network/the-raiden-token-auction-explained-1cc0c7946b26

What is Raiden:  "The Raiden Network is a highly anticipated technology to support fast, cheap and scalable ERC20 token transfers for Ethereum."
More Info here:https://hackernoon.com/raiden-network-developer-preview-dad83ec3fc23

What is the utility of Raiden/RDN tokens? To pay for Full Node services. If you want to use the Raiden Network, and not go through the hassle of hosting a full node, you can pay for this
service instead as a convenience. More info here: https://medium.com/@raiden_network/the-raiden-network-token-model-9b6ef8d0b64

Dutch Auction Education - Please refer to this video for Dutch Auction Instructions https://www.youtube.com/watch?v=xBF8s3FZnX0.
WATCHING THIS VIDEO SHOULD BE MANDATORY FOR ANYONE WHO PARTICIPATES IN THE AUCTION.

Notes: Again, I can't stress this enough. The format of this sale is a Dutch Auction, when used correctly, can be advantegeous to investors.
THE PRICE WILL GO DOWN WITH TIME. So what does this mean?!?!?! WAITING will guaranatee a low price for all participants.
If investors play their cards right, we can all win and receive the tokens at a low price. We must not panic, buy into fomo and close out the
Auciton early. The Raiden team has been very helpful in posting videos to show us how to properly participate and achieve a low token price
Please do not act like a noob, buy out the tokens early and therefore inflate the price of the tokens. We can work together as a team
and ensure that both the investors and the Raiden team walks away happy. The best strategy is to simply wait until the price is reasonable. That's
it, nothing else more to it. PATIENCE IS KEY. 
 

thanks