Capital will be raised and managed through a portal hosted at https://ico.localtoken.exchange that operates over a SSL encryption, has DDOS protection from CloudFlare, firewalls and server access policies in place.
The base rate per LTE token will be set to 1ETH = 2,286 LTE during both pre-sale and main token sale regardless of the cryptocurrency used. Total supply of LTE created will be 77,963,600 with 46,000,000 available for contributors. Any unsold LTE will be burned at the end of the main token sale.
Stage 1 (30% bonus) July 30 – August 10, 2018
Stage 2 (25% bonus) August 11 – August 20, 2018
Stage 3 (20% bonus) August 21 – August 30, 2018
Stage 1 (10% bonus) August 31 – Sep. 5, 2018
Stage 2 (no bonus) Sep. 6 – Q4, 2018
A public pre-sale will be conducted between July 30 and August 30, 2018
The specific requirements will be:
Maximum funding cap of €3,000,000
Maximum available tokens: 14,650,000
Anyone who joins the pre-sale will receive a token bonus on the entire amount they contribute and will receive priority in delivery of tokens.
Please visit https://ico.localtoken.exchange and register your interest in joining the crowdsale.
Main Token Sale
The final token sale will commence on August 31, 2018 and end Q4, 2018.
The crowdfund will remain open until one of the following is met: The maximum cap of €19,490,900 is achieved and/or close date is reached.
If the token sale events fail to raise a minimum of €1,000,000 in cryptocurrency values at the end of the funding period, then all funds raised will be returned to contributors, minus any transaction fees incurred.
Strict policies and procedures are in place to deal with the level of funding, protection and management of the funds. However, no guarantees can be made that funds are 100% safe, as is intrinsic to the crypto-currency industry.
Based on this, should there be any attack or breach that results in the loss of funds that would not be considered disastrous for the project to launch, all contributors will still have tokens issued proportionally to the funding they provided.
At the end of the token sale, a full audit process will take place that will involve ensuring no more funding is received, funds received are verified at the addresses and checks that transactions match contributors. Once Local Token Exchange officers are satisfied with the audit process, the distribution of LTE Tokens will be sent to contributors and this completed within 30 days.
In order to encourage early support at launch of the crowdfund an attractive bonus scheme that scales down based on supply sold is defined as below:
|Pre-ICO||1 ETH Contribution|
|3,900,000: including 30% bonus||2972|
|5,000,000: 25% bonus||
|5,750,000: 15% bonus||
|9,900,000: 10% bonus||2515|
|20,000,000: no bonus||