Lock3r Presale Confirmed
We’re pleased to announce that the presale will be commencing at 12:00am (UTC) — 24th November (Midnight Tuesday).
The presale will be 72 hours long.
The hosting platform is confirmed and it will be hosted on Bounce.Finance.
Why a Public Sale?
It has been a question for many investors — Keep3r and Relay3r did not use a public sale, so why is this project taking this approach?
This also comes with a simple answer — Fairer distribution across the community and an equal opportunity for all investors and future users of the protocol.
A review of recent listings
Now what we are about to say has no bearing on the integrity of our fellow projects and the people working/developing them as we wouldn’t have built this protocol without them, but we speak more so on those that we could argue have been fortunate enough to take advantage of the so called ‘Stealth Listings’
If we just reflect on the events that have unfolded within the past two weeks, we can see that there has undoubtedly been some controversial price action amongst Keep3r and our favourite fork Relay3r, where most recently we have seen Team Members of Cream Finance selling off Keep3r holdings in the hundred thousand’s towards the end of the last week, which pushed Keep3r sub $90.
In addition, Relay3r thanks to their transparency (which we heavily appreciate and respect) openly admitted, for the reassurance of the investors that there was an initial private sale, where those entitled buyers would provide liquidity. As a result of this sale, one particular investor managed to turn 4 ETH into 30ETH whilst keeping a substantial amount of Relay3r at the same time. This was also a stealth listing with no scheduled time and our team had followed the developments of Relay3r on GitHub very closely and even we we’re unaware of their listing till an hour after liquidity was pooled.
Now these two different scenarios have one thing in common — They we’re the earliest of investors at a time where the majority of the community we’re unaware of either projects being listed on Uniswap, which gave them an unreasonable opportunity to buy a huge amount of the supply at what we could argue, a low risk.
We are not saying that this is the wrong way for projects to be listing and bootstrapping liquidity, we are simply saying that we feel that there is most certainly a fairer and more transparent approach that we can take, which reduces the risk of market manipulation and whales causing huge price impact in the early stages of a projects life.
The Presale information
Token Distribution
Total Supply = 200,000
Treasury to Fund Job Contracts — 15.5%
Presale — 35%
Permanently Locked Uniswap Liquidity — 25%
Team — 10%
Marketing/Sponsorship — 7.5%
Future Development (Acquiring future staff and increasing the team. Paying for contract deployment.) — 7%
Presale Requirements
Softcap — 100ETH
Hardcap — 1000ETH
Minimum individual buy — 0.05 ETH
Max individual Hardcap — 15 ETH
Price — 70 $LK3R per ETH
70% of the ETH raised will be locked permanently for the lifetime of the project in liquidity and can never be removed. In addition to this there is nothing under the hood, no private sale and the token allocation is public. We also aim for sustainable growth and the community to follow us for the technology over the price action, and we certainly don’t want the latter to negatively affect their opinion of the project.
Our brief Sales Pitch
From a fundamental standpoint it could be argued that we have a product deployed later this week, which will be better than the origin (Keep3r) and the fork — Relay3r, where our fully diluted Marketcap at presale will be less than 2% of what Keep3r is currently valued at — at the time of writing this article and providing the Hardcap is reached.
For now, we leave you with our first published Medium article where we felt it was necessary to explain why we have taken the presale route.
ADVISORY — Not financial advice, please do your own research.
To reiterate what we have said in the introduction — Technicalities and the fundamental differences of our project will be covered in the following article in due time, which we heavily advise any investor to base their investment decision on, as being listed at a low Fiat or ETH value in comparison to the competition does not necessarily mean this project is undervalued and an investor should understand why from a technical standpoint where the true value of the $LK3R token comes from.
With that being said follow our Twitter — twitter.com/lock3rnetwork and Telegram — T.me/lock3rnetworkchannel to stay informed on our latest updates and publications.
We also have our documentation posted here in the meantime — docs.lock3r.network
