Consider that there are total 100,000 tokens. Now 2 ICO's are to be carried out to sell these tokens for different rates. KYC is required in both the ICO's.


20,000 tokens sold @ 1 XLM/token.
Time interval - 1 month.
In order to implement KYC so that only the Allowed accounts can participate in sale, the auth_required flag is set in Issuer account. Issuer authorises all the accounts so that they can buy tokens.
After 1st sale is completed successfully the auth_required flag is reset so that the Investors who bought the tokens can sell tokens on exchange.

Now a month later of ICO 1, ICO 2 needs to be carried out which also needs KYC.


30,000 tokens sold @ 2XLM/token.
Time interval - 1 month.
Now there are 2 problems during ICO2:

  1. The Issuer can not set auth_required flag true again else it will affect the users who want to pay/sell tokens bought in ICO 1 to account that are not authorised for trustline by Issuer.
  2. If the Issuers set auth_required flag to true then also there would be accounts during the one month interval between ICO 1 & ICO 2 which have already set trustline & are authorised for the tokens without, which would be able to participate directly in ICO without authorisation from Issuer.

Can anyone help on how do we solve the above scenario?

2 Answers 2


From the technical point of view, after the first COOLTOKEN ICO wave you can issue another token, say, COOLTOKEN2, sell it and then exchange COOLTOKEN2 for COOLTOKEN at 1:1 rate.

But turning off trustlines authorization after the tokensale defeats the whole idea of KYC. You will definitely have troubles with regulators after such move. If you don't care about regulators, then just skip KYC at all.

In case if you want your token to comply with regulators guidelines, you'll have to provide KYC verification services and explicitly allow_trust to all traders who want to purchase your tokens after the ICO.


Correct me if wrong, but it's not a good approach to unfreeze the assets after the first sale has happened as people can do whatever they want with it. You are trying to sell a fresh load of tokens at 2XLM / token, however some people can decide to sell it at 1.5 XLM / token as the tokens are unfreezed, rendering your second sale pretty useless.

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