Hello Everyone! We mentioned last week that we would be making an announcement concerning Latium and the token sale. We’re extremely excited about this and hope you will be as well.
So as you all know, the LATX token has always been priced in Ethereum. When we first began selling LATX, Ethereum was around $200 a piece and had been fairly stable for quite a while. As i’m sure you have all noticed, Ethereum has gone up substantially in value over the past week or two. In order to evolve with an ever changing and volatile market, we have decided to price LATX in USD. This will provide a more stable sale rate, while also benefiting all participants in the sale.
Now we have taken into account that we have had two other phases and are looking to benefit those participants as well so this is what will happen prior to tokens being available for withdrawal:
- Users who particpated in the pre-sale will be credited with a 5X multiplier which will bring their rate to 10,000 LATX per 1 ETH.
- Whitelist participants will receive a 4.5X multiplier, bringing their rate to 9,000 LATX per ETH.
- Those who have already participated in the General Sale will be credited with a 4X multiplier, bringing their rate to 8,000 LATX per 1 ETH.
- The multipliers will only apply to the amount of tokens purchased and not to any awarded bonus amounts.
The General Sale will continue and is formatted into a new tier structure. The tiers have a set end date, but can end prior to the end date if the total allocated amount is sold out. You can see a screenshot of the tier structure below:
The initial stage is priced at $0.08 per LATX. As you can see, the price during each stage goes up $0.01. You will also notice that the end date for the sale has been set at March 1st, 2018. The end date could come sooner depending on tokens selling out, but it will definitely end on or before March 1st, 2018.
We believe that this change, along with increasing the amount of tokens for each participant throughout the sale so far, is a fair way to evolve with the increasing volatility with the price of Ethereum. It will also bring the hard cap down to $15 million USD.
The Latium team was focused on the scheduled release of the Alpha version of the Latium platform and was very excited to meet that goal. Making changes to the sale structure, while also including the previous participants, was a constant in our minds. We appreciate everyone’s support and participation!
As always, if you have any questions you can find us in Telegram and Twitter for the most recent updates. You can also email email@example.com if you have any questions!