Re-launching the Reversible ICO

on Friday, June 5th we announced that we are bringing the “rICO commit phase” to a stop.

This raised many questions within our community; we hope to answer and address all of these in this article.

The goal of the rICO is simple: decentralize the ownership of the LUKSO network, and have as many participants and stakeholders as possible; while making the ICO fundraising mechanism fairer and safer for investors.

We invested around a long time in the development and the legal framework to make the rICO possible. Our motivation is to innovate in the topics we see bring the most value to the community at large.

We at LUKSO want to build a long-lasting and sustainable ecosystem for the new create economies. We believe this re-edition of the rICO bring us a step closer to achieving that.

What’s new on the rICO?

Starting date: the rICO re-deployment will take place on June 10th. 2020 at 14:00 CET.

Initial price: The rICO will start at 0.0012 ETH (~0.29 USD)

Price increases are based on demand and not time

This is the most significant change on the rICO; the price increase mechanism will be based on demand.

• After every 500 000 LYXe are sold, the price will increase by 0.0001 ETH (~0.025 USD) This means no demand, no price increase, and if demand is high, the price will increase rapidly.
• If you want to reserve more than what’s available in a specific price stage, your overflow will automatically reserve in the next price stage. NOTE: You can always reverse instantly or send less, should you not want to be in a higher price stage.
• Your contribution price will reflect the price at the points you are whitelisted! This is set to prevent malicious price increases that not intend to do an Identification process!

Start your Identification now!

To speed up the process, you can already start your Identification process today at https://kyc.lukso.network/

If you have already done your KYC during the first rICO deployment and were whitelisted, you are all set to participate.

What happened to the duration of the rICO?

• The buy duration will stay at 8 months.
• The “Commit Phase” re-starts at re-deployment on June 10th. 2020 at 14:00 CET.
• The “Buy Phase” starts on June 18th, 2020.

We are thankful for the continued support and join LUKSO via the Reversible ICO.

Disclaimer

We do reserve the right to change future price increases, should that be necessary.

The reason is to avoid exorbitant evaluations or sudden devaluations based on the ETH price fluctuations.

This right will only be used if extremely necessary, and it will be communicated to the community in advance.

Do you have questions or need help?

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