The Howey Test attempts to determine if there is an “investment of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others.” If those “others” don’t promise profit or increase in price due to their efforts, but only promise real world utility/usefulness of the platform, then the coin does not pass Howie Test and is therefore not a security. Secondly, how much of the initial token is retained by team and what initial price is set for the tokens at ICO is also not part of the Howey Test, and therefore not a determinant of whether something is a security or not. So this case will fail.