Luna’s token sale by the numbers

Hrothgar 🌙
May 7, 2018 · 4 min read

As Luna’s token sale came to a close on February 1st, the team and community were thrilled to see such outstanding success—we sold out in a single block, taking only minutes. Throughout our presale rounds and public sale, we were overwhelmed by the support and enthusiasm we received from the quickly growing Luna community. Of course, there was still a lot of work to do, including token distribution, processing refunds, and data analysis. We’re excited to finally be able to share the full picture of our token sale, number by number.

Overview of token sales

A total of 15,200,000,000 LSTR (accounting for 40% of total supply) were sold for around 200,000 QTUM + 3750 ETH during the Luna token sale, which began with private sale rounds and concluded with the public token sale on 1 February 2018.

In the presale rounds, contributions were made in Qtum, Ether, and Bitcoin, while only Qtum was accepted in the public sale. Demand was tremendous, and Luna rejected over US$40 million. In total 1,013 contributions were made by 942 participants, making the average contribution about 310.5 QTUM. By the numbers:

Overview of Luna’s three token sale rounds

Public sale: Qtum block #92497

Luna’s Public Sale, which began February 1st, 2018 at 14:00 UST, sold out in one block. The average block time for Qtum is around 2 minutes, but there was a large block time for #92497 — about 5 and a half minutes.

Block #92497 had 903 total transactions, an enormous number. By comparison, statistics on explorer.qtum.org tell that in that last 24 hours as of this writing, 7335 transactions have been included in 589 blocks, for an average of 12 txs/block. In other words, network activity during the Luna Public Sale created a block 75 times larger than yesterday’s average block!

In fact, block #92497 was the second-largest Qtum block ever, measured in terms of the number of transactions included. Only block #89102, which was mined less than a week before the Luna public sale, had a larger number of transactions (it had 1,067).

Of the 903 transactions in block #92497, 841 (93%) were contributions to our Public Sale, totaling about 118,483 QTUM. Because the Public Sale was capped at 104,849 QTUM, not everyone who got their contribution included in block #92497 ended up receiving tokens. In fact, only 720 of the 841 did receive tokens; everyone else received a refund. For those wondering how we decided which contributions to accept and which to refund: we preferentially accepted contributors according to how early they applied to participate in the sale.

Contribution amounts

The 720 contributions made during the Luna public sale are well-described by a log-normal distribution, meaning that the logarithms of the contribution amounts are distributed normally:

Many phenomena are described by the log-normal distribution, including

  • the length of comments posted in Internet discussion forums;
  • particle sizes of many substances, such as aerosols;
  • file sizes of publicly available audio & video data; and
  • city sizes.

Perhaps most interestingly, it has been shown that in the US & Britain, the income of 98% of the population follows a log-normal distribution. (Income of the top 2% of earners follows a Pareto distribution.) The intuitive suggestion here is that, if the two log-normal distributions had similar parameters, each participant in our public sale may have contributed a fixed percentage of their income to the sale — we can’t know for sure, but it is an interesting thought.

Demographics of participants

For the whitelisted presale round we received 925 KYC applications, and for the public sale we received 3,548 KYC applications. To give an idea of the demographics of the Luna sale, let’s look at some numbers pertaining to public sale applicants.

The age range of applicants was between 18 and 90 years of age, with the median age being 32. As for the gender breakdown, around 85% of public sale applicants were male, and about 15% were female — by comparison, one source indicates that fewer than 2% of Bitcoin users are female. The geographic breadth of the Luna public sale is truly astounding: applicants applied from over 60 countries!

The following graph illustrates the age distribution of public sale participants — that is, those who ended up receiving tokens.

The distribution is quite smooth. The average age of public sale participants was about 33 years. The youngest person was 19 years old, and the oldest was 63. There is quite a demographic range in the Luna community!

Looking forward

The Luna token sale included a diversity of applicants from all around the world. The success of the public sale is evident in Qtum block #92497 — not only did Luna’s sale sell out in one block, but that block was the second-largest Qtum block ever at that time.

Luna’s token sale serves as a decisive symbol of the community’s support. As we grow our operations, we are excited to keep you updated about progress, using data as a lens.

Luna

It's time for a better dating app. Meet Luna.

Hrothgar 🌙

Written by

Luna

Luna

It's time for a better dating app. Meet Luna.

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