<h1>Whitelist opens for daily Initial Coin Auction; monitor Securities Act Section 5, KYC/AML, consumer protection, token classification risks</h1> A project has opened a whitelist for a daily market-driven token distribution called an Initial Coin Auction (ICA) where fixed token quantities are sold and per-token prices are set by total daily contributions in ETH, USDC or a stable token. The offering excludes private rounds, imposes a $50,000 daily per-wallet contribution cap, records transactions on-chain for verifiability, and links token issuance to network hardware contributions. Legal issues to monitor include securities and commodity classification of the token, applicable registration or exemption requirements, KYC/AML obligations for participants, consumer-protection and advertising compliance, and contractual and liability risks from ecosystem partnerships.