What Are ICOs And Pre-ICOs?

ICO stands for Initial Coin Offering and is a mechanism for a project to issue a token in order to fund a new venture and services. ICO’s are in some respects a digital version of an IPO in the traditional stock market, but more accessible for smaller investors.

The Local Token Exchange presale period is being utilized to develop an initial following to use as a feedback and a testing ground for community development and marketing during the following ICO period. Pre-ICO refers to a sale of token units to investors in advance of the main ICO. This is used to raise early-stage funding for a venture and usually involves a minimum investment level.

Any units sold during the pre-ICO will be subtracted from units available for the ICO in order to ensure that the equity and the profits of investors are not reduced. Early stage investors will be added to a private mailing list (with their consent) and contacted directly (with their consent) for feedback on the Local Token Exchange platform development prior to the main ICO.