Round 1 sold out: A BIG Success!
Lition is proud to announce that our Round 1 token sale successfully reached its hardcap within minutes. We want to sincerely thank everyone for contributing to this success and for the support that we have received from our community over the last few weeks. The whole team is now looking forward to finalising our fundraise with the next and final round starting at 3pm CET on Thursday the 21st of March.
But before we go further, let me recap Round 1:
- Total Raised: $530K USD (6,65 BTC and 3692 ETH)
(some KYC refunds will be deducted from this)
- Attempted Transactions: 269 (etherscan)
- Successful Contributors: 130
- Average Contribution Size: ~$4000
- Hardcap Reached: 13 mins 43 seconds
(despite some contribution address display issues)
Thanks again to everybody that proved traditional ICO’s can still work!
A Bumpy Start…
We are aware of the technical difficulties that we had during our Round 1 token sale and want to sincerely apologize for them. The token sale contribution address should have been displayed on the last page of the investor dashboard at exactly 3pm CET but instead it only displayed correctly after approximately 10 minutes. As a corrective action, we published the address on our Telegram announcement channel at 3:06pm CET with the hardcap of 500K USD reached shortly after at 3:15pm CET.
Due to the token sale contribution address display error, some whitelisted contributors received an advantage over others. Based off the feedback of our community, we have decided to give whitelisted contributors, who were not able to contribute in Round 1, a headstart of exactly 10 minutes (2:50pm) for Round 2. That’s roughly the delay introduced by the investor dashboard in the first round, and we think that those 10 minutes are a balanced approach between a slight advantage for our early supporters who missed out and a fair chance for all public participants to still contribute.
$50K Individual Cap for Round 2
As we have been overwhelmed with astonishing demand during Round 1, and again based off the feedback from our community, we have cut the individual cap for Round 2 in half, so decreasing it from $100K to $50K per contributor.
Preparing for Round 2
In Round 2 of our token sale, we will publish the token sale contribution address to both the investor dashboard and our Telegram Announcement channel at 2:30pm CET, so 30 minutes prior to the sale commencing. Whitelisted users who did not contribute in Round 1 and are registered for the KYC process, will be able to send to this address from 2:50pm CET. At 3pm CET then, address restrictions will be lifted and any address will be able to contribute to the token sale.
Some common questions for the tokensale on March 21, 2019:
- How do I know to which ETH wallet to contribute to? From your investor dashboard (tokensale.lition.io), unlocked at 2:30pm CET. Please log out and log in for the data to be displayed correctly. This gives you enough time to prepare for the unlock of the wallet. For you to double-check, we will also publish the address on our telegram announcement channel.
- What happens if I send ETH before 2:50pm CET? Your transaction will be rejected (=refunded) instantly.
- What happens if I send ETH between 2:50 and 3:00pm CET? If you send from a whitelisted wallet provided to the investor dashboard that did not contribute in round 1, the transaction will pass. Otherwise instantly rejected.
- What happens if I send ETH after 3:00pm CET? Please send from the same wallet you used to register on the investor dashboard. Then you’re fine. Otherwise rejected.
- What about transfers in BTC? Same process as above, but refunds will happen manually after the sale based on the timestamp the transaction was processed.
For further questions please refer to our telegram community channel!