tl;dr: Our cap is not $100m, or near that amount
We have had a lot of questions about our hidden cap mechanism.
Since it's pretty new to the token sale world, we understand the confusion and want to provide a simple breakdown to clarify.
First, the hidden cap is only known by Jorge and me.
The goals of the cap are to:
The cap will be revealed during the sale. Once revealed, it becomes the hard cap. Either Jorge or I can reveal it. In addition, we have also set up bots that will track and reveal it.
Because we want our token sale to last long as possible, if there's initial FOMO we will immediately reveal it.
To illustrate the hard cap and it's purpose, here's a scenario where it would be needed:
To mitigate the risk of the above scenario (however unlikely), there's a hard cap coded in the contract. Essentially, it's just a line of code that cannot fail.
We take security very seriously, and we are very cautious. We will not risk damaging Ethereum under any circumstances. And the hard cap included in the contract is a safety mechanism to prevent that.
You can also review ANT's independent audits by Jordi Baylina and Piper Merriam.
The Aragon Team