Table 1 Variable description
Variable | Description | Source |
|---|---|---|
Dependent variable | ||
Log of the capital raised | Logarithm of the total capital raised in USD | ICO Bench |
Soft-cap achievement | Binary variable measuring the achievement of the soft-cap threshold | ICO Bench |
Hard-cap achievement | Binary variable measuring the achievement of the hard-cap threshold | ICO Bench |
Existence of a secondary market | Binary variable measuring the existence of a secondary market | ICO Bench |
Project variables | ||
Whitepaper: team disclosed | Binary variable stating the disclosure of the team in the whitepaper | Whitepaper |
Whitepaper: technical | Binary variable stating the technicity of the whitepaper | Whitepaper |
Whitepaper: word count log | Logarithm of the total whitepaper's word count | Whitepaper |
Restricted countries | Variable accounting the number of countries where the project is restricted | ICO Bench |
Region: North America | Binary variable stating the project's region | ICO Bench |
Region: Asia–Pacific | Binary variable stating the project's region | ICO Bench |
Region: Europe | Binary variable stating the project's region | ICO Bench |
Campaign variables | ||
Pre-sales | Binary variable stating the existence of pre-sales | ICO Bench |
Bonus scheme | Binary variable stating the existence of bonus schemes | ICO Bench |
Token price log | Logarithm of the token's price | ICO Bench |
Bitcoin price log | Logarithm of Bitcoin's average yearly price | CoinDesk |
Ethereum price log | Logarithm of Ethereum's average yearly price | CoinDesk |
Currencies accepted | Number of currencies accepted by the project | ICO Bench |
Social network variables | ||
Twitter: active during campaign | Binary variable stating the campaign's status on Twitter | |
Twitter: followers log | Logarithm of the number of Twitter's followers | |
Twitter: number of tweets log | Logarithm of the number of tweets | |
Github account | Binary variable stating the existence of a Github account | Github |
Github: existing code prior to ICO | Binary variable stating the existence of code on Github prior to the ICO launching | Github |
Website active on May, 2020 | Binary variable stating the ICO website's status | ICO website |
Team variables | ||
Team members log | Logarithm of the number of elements in the team | ICO Bench |
Advisors log | Logarithm of the number of advisors in the team | ICO Bench |
LinkedIn connections log | Team members' connections on LinkedIn | |