In our last medium post, we announced the launch of Libellum. Since our post went live, we had a lot of positive feedback and many asked for more information on our upcoming pre-sale and token sale rounds.
Today’s post covers all the questions regarding Libellum, the LIB token economics, and token sale rounds.
— General Questions —
1) What is Libellum?
A: Libellum is the world’s most innovative supply chain verification platform for product certification, testing, and compliance. Libellum will make working with suppliers safe and secure — through its innovative platform. The Libellum platform will be comprised of 3 key features:
- Our Web platform and Mobile application will list all verified and compliant suppliers.
- Product Certifications made easy with our innovative L-ID system. Each supplier will get a unique and encrypted digital ID system secured by blockchain technology.
- Online sellers will be able to prove product authenticity and compliance by integrating their verified products onto leading E-commerce platforms via our Libellum Plugin.
By implementing Blockchain technology, Libellum will provide a leading platform that is safe for key components in the supply chain industry, including:
- Manufacturers and suppliers.
- Importers and Exporters.
- Customs Officials.
- Product Testing Laboratories.
2) Why Libellum is important?
A: Over the last 17 years our CEO has been working on educating people on safely importing from China and separating scammers from actual factories. While this is an ongoing process there are still thousands of scammers popping up every year that slip through the net and unsuspecting buyers may fall for them. Libellum solves this issue by publicly documenting suppliers and their legitimacy on the Blockchain. Libellum aims to bring together buyers, suppliers and third party testing laboratories to create more trust and transparency.
3) Does Libellum have a white paper?
A: Yes, you can read the latest whitepaper here.
— Pre-Sale Information —
1) When will the pre-sale begin and end?
A: There will two (2) phases to the pre-sale:
- Early Investor Program (pre-sale phase 1): A 10% (10,000,000LIB) allocation of Libellum tokens will be available for this phase. Contributors who participate in the EIP phase can technically purchase the entire allocation (first come first serve). Investments can be made from 5ETH upwards.
- Main Pre-Sale (phase 2): 40% (40,000,000LIB) of LIB tokens will be allocated for phase 2 of our pre-sale. Funds raised during phase 2 will be used to build the platform, build more partnerships and raise awareness.
Note: If any tokens remain unsold during phase 2, a public sale may be conducted until all available tokens are sold (50,000,000 LIB tokens) at 0.1$/LIB
2) Will there be pre-sale bonuses?
A: Yes, pre-sale bonuses are as follows:
- Early investor program phase bonus will be at a rate of 0.05$ per token (50% discount).
- Pre-Sale Phase 2 bonus will be at a rate of $0.08USD per token (20% discount).
3) How do I participate in the pre-sale?
A: Please register here: https://libellum.io/ and we will be in contact after for next steps.
Note: We will ONLY contact you from info@libellum.io, all other addresses may be fake and/or a spam attempt. Please contact us if you are concerned. Pre-sale participants must upload KYC documentation and wait for approval from Libellum to be able to participate.
4) Is there a contribution minimum for the pre-sale?
A: Yes:
- Early Investor Program requires a minimum of 5ETH (Ethereum) to participate (= 1LIB @0.05$).
- Main Pre-Sale phase requires no minimum investment (=1LIB @0.1$).
5) Are any countries restricted from participating?
A: Citizens of the US, Canada, New Zealand, Singapore, and China may not contribute in the sale. Participants from The Hong Kong Special Administrative Region (HKSAR) are not excluded from the sale.
6) Is there an address I should send my contributions to?
A: We will provide necessary information after a registration is submitted. Please make sure the person you are dealing with has an official Libellum email address “@libellum.io”.
If you are unsure, please message an admin on our official Telegram Channel.
- **NOTE*** — please make sure you do not send any contributions to addresses provided in private messages. We will NEVER contact you in this type of form. Please make sure to always message an admin if unsure.
— Public Sale Information —
1) Will there be a Public Token Sale?
A: If there remain some unsold tokens AFTER phase 2 sale we may run a public token sale at a price of 0.1$/LIB.
2) What will happen to all unsold tokens?
A: Unsold tokens will be burned.
3) What is the Libellum token symbol?
A: Libellum tokens (ticker: LIB) are the lifeblood of the Libellum ecosystem. LIBs are smart contract tokens built to the ERC20 token standard. They are necessary for discounted subscription fees on our platform, access to our Verified Manufacturer Database, and ECommerce API usage. While we will accept several FIAT and credit card payments to our platform we will give discounts to our subscription by using LIB tokens.
4) What will be the price per LIB token?
A: 1 LIB token = $0.05USD (private investors), $0.08USD (pre-sale), $0.1USD (public sale).
5) What currencies can we contribute with?
A: You can contribute with ETH.
6) How will the price be determined? Will it be pegged?
A: The price will be accounted for at the time it hits the Libellum wallet.
7) What is the total token supply?
A: The total token supply will be 100,000,000 tokens.
8) What is the token allocation?
A: The token allocation will be:
- 10%: Early Investor Program (10,000,000 LIB)
- 40%: Pre-Sale & Public Token Sale (40,000,000 LIB)
- 25%: Libellum LTD (15% Reserve Fund & 10% Team = 25,000,000 LIB Total)
- 5%: Bounty (5,000,000 LIB)
- 15%: Research & Development (15,000,000 LIB)
- 5%: Advisors(5,000,000 LIB)
9) Are any countries restricted from participating?
A: Citizens of the US, Canada, New Zealand, Singapore, Vietnam, and China may not contribute in the sale. Participants from The Hong Kong Special Administrative Region (HKSAR) are not excluded from the sale.
10) Will there be an airdrop or bounty program?
A: At this time, no official bounty program has been announced. However, a bounty program is in the works in the near future.
You can sign up to our newsletter here for updates.
11) What is the hard cap?
A: The hard cap for the Libellum sale is as follows:
- Early Investor Program (phase 1): 500,000 $
- Pre-Sale Phase 2: 3,200,000$
— Token Metrics —
1) Can you clarify the token economics for the project?
A: Below are the token metrics of the Libellum project:
- Maximum Possible Token Supply: 100,000,000 LIB
- Early Investor Program: Average Price $.05/LIB
- Presale: $.08/LIB
- Public Sale: $.10/LIB
In addition, there are planned lock-up periods:
- Early Investors & Presale Early Investor Lockup: 50% upfront and 50% unlocked after 6 months.
- Pre-sale Lockup: 50% upfront and 50% unlocked after 3 months.
- Company Lockup: Tokens are unlocked after 12 months.
2) What will happen to unsold tokens?
A: Once the $3.7 million hard cap is reached, Libellum is planning to eliminate the remainder of the tokens not sold in the sale. For example, if 40m tokens are sold out of 50m, the remaining 10m tokens will be eliminated from the total supply of LIB tokens.
3) Why are you “only” trying to raise 3,700,000US$ when most Blockchain projects try to raise 10 times this amount?
A: We believe in our product and our partnerships and we don’t need to “over finance” ourselves. Technically speaking this project is simple to execute (programing) and we don’t need “more” money to build the platform. We have all technical aspects covered and are confident that we simply don’t need “more money considering it will be live within 6–8 months”.
Our Ceo’s 13 years experience working in China and excellent network with third party testing companies already saves us money we would need to attract big partners. About 80% of the funding goes into the development and staff we need.
We believe that the need for our platform is immense and that once its live and fully functional it will sustain itself with our revenue model. Among all the future and preliminary partners we spoke with (and we spoke only with the big ones) they all see the need and can’t wait to implement the platform into theirs.
If you have any more questions about the Libellum project and it’s token sale, kindly contact us on info@libellum.io or via our social media channels:
