Thanks for the summary. ICO is the epicenter of blockchain start-up excitement given the financial stakes involved. I read Bancor's whitepaper (several times) to understand the underlying economics of their pricing ratios to foster liquidity. Appears they put a lot of thought into liquidity issues as a barrier to expanding the ecosystem, but not the simplest proposal to get your head around. There's always a risk it won't execute as planned. E.g. the temporary collapse with their ICO underscores the massive operational risk associated with this type of crowdfunding.