LTO Network — Post ICO check

Not every blockchain needs a revolution, but a simple and working idea.

The Birb Nest
Published in
4 min readJan 25, 2019


ICOs seem to be a thing of past for now, not because idea itself seems to be bad — because majority of ICOs were poorly managed, dictated mostly by greed, vaporware software, not fulfilled promises etc.

LTO policy in terms of Initial Coin Offering was almost different, is it enough to suceed in current market? Let calculations speak for themselves.

Token Economics

Hardcap of an ICO, incl. seed and private sale, was 5,200,000$, during ICO phase team managed to gather 79% of that amount, which gave approximately 4,084,000$, unsold tokens got burned.

Total supply after ICO: 460,732,109 LTO
Current circulating supply: 33,182,178 LTO*
Current price: 0,016446$ per LTO
ICO Price: 0,0302$

Private/seed sale value: 3,100,000$
Crowdsale gathered amount: 984,000$
Current market cap: 545,714$

Exchanges: Bitmax, Bilaxy, also exchange called “dcoin” ,but I am not able to enter this one.

Bonus during crowdsale:

There is a bonus which starts at 7%, with every next transaction getting 0.05% less bonus (7%->6.95%->6.9%…), down until it goes to 0%.

Other stages:

Both seed and private sale tokens aren’t supposed to be available to trade at exchanges — but there’s a catch

If any early investor — both private & seed round will try to transfer their mainnet tokens into tradeable ERC-20, they will pay fee, a huge one.

For example, Josh bought presale with 30% bonus, transfers his tokens on launch day 1 into tradeable ERC-20, he pays 50% fee of his whole stake, doesn’t sound too profitable, does it?

There is whole article dedicated to explain whole system behind that anti-dump protection, called “Troll Bridge”, read more here.

But what If someone decides to do it? There is another article that covers the situation pretty well, read more here. There is also a real-time telegram bot that reports any transfers to mainnet & erc-20, check it here.

*Rest of token distribution & locks

Seed round: 65,000,000 LTO — you can see around 8M has been swapped from Waves. Those tokens are not directly liquid* bridge troll.

Private sale: 72,500,000 LTO. Those tokens are not directly liquid More here.

Ecosystem Fund: 73,596,995 LTO. Some rewards have been distributed from there (to be reconciled with the marketing wallet later on). To be given in a locked form to builders and dApp/business developers, grants.

Team: 85,000,000 LTO. 33% unlocked after 8 months, 10 months, and 12 months.

Advisors: 20,000,000 LTO. Locked for 7 months.

Marketing and Partners: 33,046,000 LTO. Used for exchanges, liquidity providing, community platform rewards. Not to be market sold.

Foundation (B.V.): 50,000,000 LTO. Released gradually after a year.

lockups are counted since January 17, 2019.

But “what the hell is LTO Network?” — short Fundamental Analysis

Lazy version — a video explainer (which is highly recommended anyways)

What does it do?

3rd parties are able to collaborate with each other, solution includes verification & signature layer within sleek ecosystem that handles automated supervision via smart contracts, including General Data Protection Regulation compliance.

Do they have any offices, is this legit? I’m afraid of exitscams sir.

LegalThings is “in real life” company responsible for whole LTO Network project, which is owned by Firm24 under the same adress.

Burgerweeshuispad 201, 1076 GR
Amsterdam, the Netherlands

Yeah ok — but who will use it?

As stated already in previous paragraph with video explainer, which is done not for a company — but country’s government, to be specific Dutch & Belgian Government.
Use Case: international waste transport system, goal: reduction of supervision related costs.

Use case: Notarizing digital documents with Proof-of-Existence.

“When someone changes as little as a pixel in a (legal) document, the hash of the signed document will no longer correspond with the hash on the blockchain.” LTO Network website says.

SignRequest B.V.
Singel 542
1017AZ Amsterdam
The Netherlands

CMS Cameron McKenna — law company, operates in 41 countries, with more than 4500 lawyers, big deal.
Use case: Fully decentralized commercial rental agreements

They seem to have some sort of cooperation with POA , NuCypher and cpchain, but this isn’t really well explained by the website.

In my opinion, this is step in right direction — if anyone wants to dump his tokens, that’s the right he should have, but there should be always be a catch.

Final thoughts

Project feels like something quite different than all revolutionary ideas we had before in blockchain sphere — it’s working, company can offer their solutions to other companies right now, which is quite key variable to the whole equation.

I’d like to see more exchanges with this one, not necessary top notch, but at least ones with bigger user base — and since that’s my biggest concern at the moment, I still do like whole project as proposed solution . We can carefully say, there’s demand for that kind of blockchain services as we speak, not “soon”. Not everything needs a revolution, but a simple and working idea.