Even though the ICO landscape has been heavily drying out throughout the last months we believe that fundamentally strong projects remain capable to conduct a successful fundraise and maintain a satisfied community.
Soft cap of $2m USD reached
This has worked out for Lition so far, as we have successfully reached our soft cap of $2m USD. We are grateful to our previous investors, who truly believe in the project and with whom we are working on developing commercial use cases.
Upcoming public sale
For the upcoming public sale, we decided to structure our token sale towards a model that favors public sale participants over private sale investors. We want to be certain that the general public will have a truly fair chance during our fundraising as we want to distance ourselves from projects that favored the interest of private sale investors over public participants, as it happened countless times in the past.
Another important aspect that correlates with this is our hard cap of $8m, which we reduced from $25m a few months ago. This is based on us actively listening to our community, and to do so in order to meet their expectations on how a fair contribution should look like and also considering our progress on development.
Our Investor Tier Terms
It is highly in our interest to develop a sustainable ecosystem and for this reason we are being keen on setting the right fundamentals to allow it’s flourishing through growth of a satisfied and loyal community. We feel that a transparent communication in regards of seed and private investor terms is needed in order to set the right cornerstones in this direction.
Hence, the following terms apply for the individual investor rounds:
- Seed: Avg. 40% bonus & tokens being vested linearly over 4 months with first release 3 months after TGE
- Private: 0% bonus & tokens being vested linearly over 4 months with first release 3 months after TGE. This tier is chosen by companies using the Lition blockchain infrastructure for their use cases, as they get exclusive developer and testnet access, instead of bonus tokens.
- Public: instant unlock at exchange listing with possibility to hold tokens voluntarily longer in order to receive bonus Tokens
Not only are we limiting private sale investors to a no bonus policy but also are we keen on making a change by shifting the traditional crypto bonus structure from private investors towards public Investors.
Let me introduce: the HODL highway
We want to incentivize a commitment to our project and our use cases. Every day you hold the token, you get a higher bonus.
“Picture it as being on a highway, and the longer you stay on it, the more rewarding your ride gets.”
By introducing the following bonus structure for public sale participants, we incentivize our token sale participants to hold onto our tokens. Hard-coded in open sourced smart contracts, that dynamically upon transfer of tokens calculate the age (highway mileage) and the resulting bonus.
Once you receive your tokens after TGE and tokens are unlocked you will be in full control in order how long you are willing to hold on to your tokens in order to be eligible for a certain amount of bonus tokens. To be eligible, all you have to do is to not move your tokens from the wallet which you have participated in the sale for a given amount of time.
Here some examples:
- In case you hold your tokens after TGE for 50 days but now decide to move all of them off the wallet, you will receive bonus tokens of approx. 7% (50/180*25%) after you have transferred your initial tokens away. As a consequence, you will no longer be eligible to receive further bonus tokens in the future.
- In case you decide to hold onto your tokens for the whole maximum duration of 180 days, you will receive the maximum bonus once you have initiated a transfer of your initial tokens off the wallet.
- In case you decide to transfer only a partial amount of your initial tokens, the bonus payout will apply to these tokens if you held on for a certain amount of time. The other part that has not been moved from the wallet will stay eligible for further bonus payouts.
Let’s do this, and thanks for being part of the Lition community to bring Blockchains to mainstream use!
Your Lition Team