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General Information

In order to build a solid and sustainable BlockLicense Community and fund the development of the ecosystem, License Coins (LCN) will be made available during a crowdfunding campaign running in two separate stages and spanning a period of 10 weeks. Once the crowdfunding is over, LCN will be listed in several cryptocurrency exchanges to be traded at will.

Each crowdfunding stage serves a specific purpose during the BlockLicense development stages. Token information is provided below:

 

Total Tokens Issued: 700,000,000 LCN

Total Tokens Available: 70%

BlockLicense Reserve: 30%

Token Type: ERC20

# of decimals: 18

LCN to ETH: 2,000 to 1

Stage 1: Pre-Sale

Initial Tokens distributed to support BlockLicense marketing campaign & security sign off

Q1 2018 – Promotional period, form legal entity, security sign off

Stage 2: ICO

Tokens distributed during ICO Stage 2 to support BlockLicense Development

Q2 2018 – Product Development

Stage 1: Pre-Sale

LCN will be exchanged over ETH at rates as described below, and with an incentive bonus for early project Supporters starting at 30% of acquired LCN:

DurationStarting DateEnding Date(%) Bonus Tokens in acquired LCN
2 weeks2 Apr 201815 Apr 201830%
2 weeks16 Apr 201829 Apr 201825%
# of LCN available during Pre-Sale: 35,000,000 LCN

License Coins (LCN) acquired during pre-Sale Stage 1, will be distributed to BlockLicense Supporters automatically at the initiation of ICO Stage 2. This is to ensure that Security – Sign off is completed and LCN received by Supporters will be secure and free of bugs. Remaining LCN from Pre – Sale Stage 1 will be transferred and will be available for purchase at ICO – Stage 2 at bonus rates as described in ICO Stage 2. ETH raised during Pre-Sale Stage 1, will be split and invested in following areas:

  • Marketing

  • Founders Fees and Working Capital

  • Product Development

  • Legal

  • Sundry expenses

  • Support team

Where

55% Marketing: Including but not limiting to communication campaigns, such as ads , press releases, videos and other content on social media and specialised press

30% Founders Fees & Working Capital: Funds available for founding team and liquidity to serve working capital and various expenses

10% Product Development – Security: Expenses associated with product development and security sign-off

2% Legal: Various expenses connected to the creation  of the BlockLicense legal entity and advise

1% Sundry expenses: Unpredicted expenses connected with product development and launch

2% Support team: Funds provided to external partners

Note: In case ETH raised during pre-ICO stage 1, will not exceed 100 in total, 100% of funds raised will be spent solely on marketing activities and security sign-off. Any Ether raised during Pre- Sale, above the sum of 100 ETH, will be allocated and spent as described in the pie chart above.

Remaining License Coins (LCN) from pre-ICO Stage 1, will be available for Supporters to acquire during ICO Stage 2 at  bonus rates as described in Stage 2. In case that Minimum Goal A’ is not reached during ICO Stage 2, the funds raised during Pre-Sale Stage 1 will not be refunded.

Stage 2: ICO

LCN will be exchanged over ETH at rates as described below, and with an incentive bonus for early project Supporters starting at 20% of acquired LCN:

DurationStarting DateEnding Date(%) Bonus Tokens in acquired LCN
2 weeks14 May 201827 May 201820%
4 weeks28 May 201824 Jun 201815%
# of LCN available during ICO : 455,000,000 LCN  + all remaining LCN from Pre-Sale

LCN acquired during ICO – Stage 2, will be distributed automatically to BlockLicense Supporters at the moment of purchase. 

In addition, the remaining LCN (Licence Coins that have not been exchanged) from ICO – Stage 2, will be destroyed/burned.

 

ETH raised during ICO Stage 2, will be split and invested in the following areas:

  • Working capital

  • Marketing

  • Founders Fees

  • Sundry expenses

  • Legal

  • Support team

  • Security

Where

40% Working capital: Funds allocated for product development (BlockLicense Ecosystem) and other related fixed expenses

30% Marketing: Funds allocated to marketing campaigns and programs, including digital strategy, ambassadors program, grow BlockLicense community among others

25% Founders: Funds available for the founding team

2% Sundry expenses: Unpredicted expenses connected with product development and launch

1% Legal: Various expenses connected to the creation of the BlockLicense legal entity and advise

1% Support team: Funds provided to external partners

1% Security: Funds to cover all expenses related to LCN tokens security

Advisors

Funds offered to Advisors depend on the total funds raised during the pre-Sale and  ICO Stages and are predefined as shown in the table below. Advisors should receive funds after ICO Stage 2, only if minimum goal A’ is reached. (i.e. > or equal to 1.000 ETH). In addition, the maximum funds provided to Advisors will not exceed 60ETH/advisor.

Crowdsale StageStage Name(%) offered to Advisors
Stage 1pre-Sale2%
Stage 2ICO1%

Minimum ICO Goals

The sustainability of the BlockLicense project depends on the amount of ETH that will be raised during the crowdsale campaign. A high sum guarantees that there are enough funds to create the BlockLicense Ecosystem in its entirety, while a low sum will prevent the project from continuing. In the latter case, funds raised during Stage 2 will be refundable, while funds raised during Stage 1 will be non-refundable.

Since cryptocurrency market fluctuates daily, we need to consider the following market scenarios:

Market Scenario A’:
ETH price at >$250  

(probability high)

Min. Goal A’:
Development of Desktop App: 1,000 ETH

Min. Goal B’:
Development of Chrome extension, widgets & BL Platform: 5,000 ETH

Market Scenario B’:
ETH price at < $250 but > $100 

(probability low)

Min. Goal A’:
Development of Desktop App: 2,000 ETH

Min. Goal B’:
Development of Chrome extension, widgets & BL Platform: 10,000 ETH

In both market scenarios if minimum goal A’ is not met during ICO – Stage 2, all funds raised during ICO Stage 2 will be returned automatically to the LCN holders by the Ethereum smart contract, minus the transactions fees and gas paid to Ethereum network.

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