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Author Topic: OFFICIAL LGD MEMBERSHIP TOKEN SALE BITTREX EXCHANGE COMPLETE  (Read 596 times)

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vindyne8

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Samker's Computer Forum - SCforum.info

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vindyne8

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Motherboard did an article on The Legends Room crowdsale.

A Las Vegas strip club is making it rain cryptocurrency
You've never seen QR codes used this way before



Read the article
Visit the bitcointalk thread
Get your membership now

vindyne8

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146 Legends Room Memberships purchased so far. Secure yours before 5/15 at 11PM PDT on Bittrex exchange






vindyne8

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149 Legends Room memberships purchased so far, 1 week remaining to secure your LGD Membership on Bittrex Exchange:

https://bittrex.com/crowdfund/Lgd



https://legendsroomlv.com/

vindyne8

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Legends Room & Bittrex release new terms for BittrexExchange crowdsale: BTC price has gone up, LGD prices going down!

The specific section changed is listed below:



Read the full terms and conditions here:
bittrex.com/crowdfund/Lgd

vindyne8

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Getting down to the final couple of days to secure an exclusive Legends Room Membership. You can pick up your LGD tokens today on Bittrex Exchange!

https://bittrex.com/crowdfund/Lgd

vindyne8

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With the Legends Room token offering on Bittrex complete, I feel that the , and the adjustments made to them recently need to be more clearly laid out. I am going to post them below, in their entirety. Please do take a look!



Bittrex will be hosting the Legends Room (LGD) Crowdfund Campaign. As a reminder, we are providing escrow for the development team. We are not endorsing this coin or any others on our exchange. Please do your own research before trading.

Legends Room ANN https://bitcointalk.org/index.php?topic=1874632.0

Nick Blomgrem, President and CEO
Stephan Bonnar, Vice President


Below are the full terms for the Legends Room Crowdfunding campaign.

- Bittrex will host 30,000,000 LGD tokens, representing 6000 memberships to the Legends Room.
- Due to the extreme price change of Bitcoin since the start of the crowdsale, the Legends Room team is providing an additional discount on the price. At the end of the crowdsale on May 15th, 2017, the number of tokens distributed will be based on the closing price of Bitcoin.
- For example if Bitcoin closes at $1500, each token will be priced at (1/(1500*1.15)) = .00005797. Any additional tokens will be credited at the end of the sale.

- Once the presale is over, any unsold tokens are returned to the Legends Room at a fixed rated described below. Each token will be sold at the greater of $1 or market price on Bittrex.
- The minimum number of tokens to facilitate the economy in the club is 4 million (equivalent to 800 memberships). After that, Legends Room gets 1 million tokens (equivalent to 200 memberships) per month to sell for the club. In the worse case, it takes 25 months for all tokens to be put into circulation.
- Each token is guaranteed to be sold or redeemed within the club at $1 or the trading price on Bittrex.
Definitions     
    ◦ T = 30 million tokens
    ◦ X = Tokens Sold Presale + Tokens Distributed For Development and Marketing
    ◦ Y = Tokens in Legends Room Treasury
    ◦ Z = Tokens escrowed by Bittrex

All tokens in Y are guaranteed to be sold at the market price on Bittrex or $1 per token, whichever is higher.
- Day 1 launch (May 15th) ◦ if (X < T)
    ◦     Y = MIN(T - X, 4 Million)
    ◦ Z = T – X – Y

- On the 15th of each month starting Jun 15th until the escrow is exhausted
    ◦ R = Remaining Memberships
    ◦ L = Additional Tokens Released to Legends Room Treasury
    ◦ R = Z / 5000
    ◦ L = MIN(R, 200) * 5000
    ◦ Z -= L
If an additional venue is opened, such as a new location in California, another 10 million tokens are immediately unlocked to the Legends room to sell for that club.

The presale will run until May 15th, 2017 at 11:00:00 PST.

Each Legend Token is a fractional piece of a Legends Room membership. 5000 tokens are required to use a membership at the Legends Room. A membership provides the following benefits
- Entrance to the Legends Room club
- 50% discount on all club services except for gaming
You can also spend tokens within the club for an additional 20% discount with or without a full membership.

Once the crowdfund is over and successful, Bittrex will verify there is a working wallet, blockchain, and block explorer.

On or before May 18th, 2017, Bittrex will release the funds raised to the Legends Room team and open the market for trading within one week of this release.

 

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