Thank you everyone for an incredible response to our Pre-ICO, Christmas & New Year sale event. We are overwhelmed with the sheer energy, passion, trust and enthusiasm shown by our community.
We raised 3 Million+ USD during this period and counting. This could not have been possible without your support. The monetary aspect of course was promising, but the learning we had and the experience we gained was worth a lifetime.One important feedback that was received during Pre-ICO was the rising cost of ETH. The volatility of BTC and ETH pricing was discussed lot many times over the telegram and other community channels in the last one month. This has certainly struck a chord with us. Considering the ETH pricing that almost quadrupled since the conceptualization of our project, there is a need to revisit pricing as well our targets for the benefit of our community.
LALA Token pricing is being revised to make the ICO participative for even a small buyer. Hence we have revisited the Token Price as follows:
Revised Token Pricing
Q – What is Revised Token Pricing?
We are bringing a change in the token price. Previously we traded 1,000 LALA Tokens for 1 ETH. But henceforth, the token price has been revised. As per the new pricing 1 ETH will fetch you 10,000 LALA Tokens. Nothing else changes and does not effect anyone or anybody except that you will see ten times more LALA Tokens in your dashboard.
Q – Why is this happening?
There are multiple reasons behind that, but most importantly it is the recent increase in ETH value. The ETH has almost quadrupled in value since our project. From the previous 250 USD it is almost hovering around 800 USD and is certainly expected to go 1000 USD. Our LALA Token which was acquirable at 25 to 30 cents previously is now almost costing 80 cents and may go on to 1 to 1.5 USD. This pricing is too steep for a Token which is in ICO process now.
Hence we have taken the decision to split LALA Token pricing by changing the equation. Based upon the existing ETH pricing, our token would cost around 8-9 cents at current Ether value which is ideal for participation. Also such a pricing gives it a good traction once listed on the exchanges.
Q – What impacts will it have?
Based upon the previous equation, we had kept a hard-cap of 150,000 ETH. This will by default get reduced to 15,000 ETH. Considering the existing and forecasted pricing of ETH, the funds in USD are substantial enough to move ahead with our project.
Q – What happens to those who bought the tokens at the previous pricing?
The interest of the participants will be safeguarded. The sold tokens allocated before 5 Jan will be multiplied by 10. So if someone had 100 LALA Tokens, after the new equation is implemented, the number of tokens in his/her account would be 1000 LALA Tokens. This would also be applicable on the bonus tokens.
Q – What about the tokens to be distributed for Bounty?
Since Bounty distribution is calculated on the % basis. It is a fixed percentage on total number of tokens so no change would be observed for Bounty participants.
We are bringing a change in the token price. Previously we traded 1,000 LALA Tokens for 1 ETH. But henceforth, the token price has been revised. As per the new pricing 1 ETH will fetch you 10,000 LALA Tokens.
This revised pricing has been discussed thoroughly internally and will help the token grow better once listed on digital exchange. [email protected] is happy to solve any query over the matter.
LALA Team continues to think about community, real users and investors. This is just a first step towards that. we have always said, we cannot do this alone. Your continues support is must. The love and motivation we have received everywhere, the global partnerships that we have signed, real users, real products, all take us closer to that goal of “Making Human Lives Better”
Building something that in true sense is going to ease out “The Real Pain” that not only the suppressed 2 billion community but the global travelers, exchange students and many more. True borderless banking. The Belief that we are on track, with each day at LALA we make new strides in our vision and come closer to becoming a Global Phenomenon.
Thank you and wishing you all a truly happy and an exciting New Years!!! God Bless!!!