In the past two weeks our team and advisers had to look at various scenarios and take important decisions to guarantee project’s development and investors’ interests.
ICO model
As we announced earlier this week, Leonardian will use the Dutch Auction model for its ICO. It presents fair market fund raising mechanism where you bid exactly what you think the token is worth and you buy LEONs at the lowest possible price (read more HERE).
Caps of funding
ICO Price range: 1 LEON = 0.36–0.09 USD
Soft Cap: 3 million USD
Hard Cap: 20 million USD
The raised funds allocation will be as follows:
- 3 million USD — Soft Cap
Technical development for product release - 3 million USD
Other operational expenses, initial marketing - USD between above-described and Hard Cap
Escrowed for marketing
The minimum price needed to reach the Hard Cap is: 1 LEON = 0.15 USD.
Market maker and escrow
In order to protect investors’ interests 2 million USD will be allocated for market maker until the LEON gets listed on exchanges. This option guarantees a certain price floor to sell back tokens within this budget if an investor changes his mind.What is more, all of the collected money between the total amount of the above described allocated funds and the Hard Cap will be escrowed for marketing. This means Leonardian advisory board will control the withdrawal of money after the completion of the ICO.
Leonardian Team
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