Making a slight detour from my usual type of story I thought I would write up a wee old article about something which will probably be a point of relativity to many of you: terribly organised ICOs which end up simply costing you money through the failed transaction’s gas and then sell out before you can participate.
Usually I would be annoyed about something like this but, hey, shit happens right? Plus, I like to live my life based on signs and I took it that, considering this is a cloud based services organisation, this is a sign I shouldn’t have invested my money in them anyway.
As the title may suggest, the ICO which I am writing about is the Dadi.cloud token distribution event, which was set to occur at midday today (29/1/2018).
Considering this was for a company which was offering cloud services to online companies I was anticipating a smooth distribution event which didn’t have any real hiccups. Oh how wrong I was.
So, there I was waiting for the contract details to be published so that I could send my contribution to them. As the clock ticked down I prepared by opening my wallet and setting the gas limit and price to that which had been suggested by Dadi.cloud themselves.
What happened when the clock ticked over to zero? The website failed to load and issued a 504 gateway timeout notification. Obviously this was quite the surprise as, as I already said, this was a company who were aiming to provide 24/7 uptime to their clients’ websites.
This 504 gateway timeout was soon confirmed on their Twitter account and lasted a solid 20+ minutes before being rectified. What happened next was equally as frustrating.
Even though I, and many others, set the gas limit and price to their recommended amount, and they stated they would limit the gas amount (not even sure if that is possible), the transaction I tried to make never confirmed.
I was sat there waiting for a solid 30 minutes waiting for my transaction to confirm while ferociously checking the telegram channel to see if anyone else was having the same issue. Surprise surprise, they were. The group was full of people asking why their transaction didn’t process.
I waited and waited, and waited, just to then read loads of Telegram messages informing that the sale had now sold out. No response from admins, no helps from the Dadi team. Overall just an absolute shambles.
After going online I could see that literally hundreds of others had the same issue. Poor show. This brings me to my question, was the sale sold out before public participation had even started? Was there ever a chance that I could participate? Or was the companies online services not to be trusted? I guess I will never know the answer, nor will the others who tried to participate but hey, they raised their money of course.