IMO only the first makes sense. The third would imply a "non-market" setting which kind of defeats the purpose of an ICO. The company I talked with was in the

IMO only the first makes sense. The third would imply a "non-market" setting which kind of defeats the purpose of an ICO. The company I talked with was in the loan business, so if you set a target rate of 10% on every interest rate payment, it's possible it's gonna break your neck but then you didn't have a very good business model to begin with. The idea is that after 5 or 10 years you already bought back a decent amount of your tokens and initially you can set different buyback rates (e.g, X% for the Xth year up to 10) to "soften the blow" in case you're entering a highly competitive market (aka shark pool). The good news is that it's kind of self-regulating: if you underperform, the tokens will be worth less so your buybacks in terms of coins will be higher and your subsequent buybacks therefore cheaper.