Quote from: eXSn on May 11, 2017, 04:29:56 AM

Quote from: LegendsRoomLGD on May 11, 2017, 12:15:50 AM

Quote from: thoridan on May 08, 2017, 08:41:13 AM

Great news on the distribution of tokens to reflect bitcoin price.

Just 1 more question....What happens if the ICO doesn't reach 4 million tokens?

Quote

The minimum number of tokens to facilitate the economy in the club is 4 million (equivalent to 800 memberships).

There is no minimum. Legends Room is a digital currency store that also is a strip club. People will walk in and buy tokens. When they see they can get 20% off of everything in the club if they use a token, they will become very popular. Imagine automatically getting a 20% discount in a high end Las Vegas strip club? Legends Room also won't sell them for less than $1.00.

Can you speak to your distribution/sales plans after the ICO? Will there just be a massive sell order on the books for ~$1 or will you be distributing only on location?

Below should give you an idea of how it will work;

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.

Source Link: https://bittrex.com/crowdfund/lgd