The product that inspired us, and which we aim to improve upon, is going to ICO in less than an hour (Firelotto.io). It's already raised almost $4,000,000 through selling approximately 18 million of it's 77 million tokens up for sale. There are a further 20 million tokens kept by the team and 3 million allocated to their bounty program.
The token price will be $0.50 to start with and, over the next month, will rise to $0.90 each. You may find it unusual that we're turning your attention towards a competitor - but we're confident that our product will improve upon their offering and that you'll be able to get in on the action at a much lower cost.
One of the things we really hated about this project is the fact that unsold tokens are locked by the team and available for resell after a year - as if their 20% allocation wasn't enough. There's going to be real downward pressure on their token price as we approach the date of the unlocking of these tokens.
Because there are 100 million FireLotto tokens, none of which are burned, someone participating in their ICO will be valuing their overall product at $50,000,000 (based upon the starting price of tokens tomorrow).
If we valued Lottereth at the same market cap, we'd get a token price of $3.80 per token (due to the lower number of tokens in circulation).
We have decided that the rate of Lottereth miners will get for the Ethereum Classic mined to our pool will be 1 Lottereth for every 0.02 ETC mined. In other words, at the current ETC price, you'd get 1 Lottereth for every $0.35 worth of ETC mined to the donation pool. As all miners are aware, the cost to mine this $0.35 worth of ETC is signficantly less than $0.35.
In summary, mining to the donation pool will probably cost you about $0.09 electricity for every Lottereth token and will ensure you get a masternode earlier - reaping even more rewards.
Alternatively, feel free to wait until mining of the actual Lottereth coin begins. We expect both options to be highly profitable and most of our miners will likely do both.