LOCIcoin is Loci’s native utilitarian token. These tokens can be used to access Loci’s products and services. LOCIcoin is an integral piece to the InnVenn platform including staking inventions on the blockchain and will be the medium for the exchange of ideas.
The Token Sale will kick off in Q4 of 2017. An exact date will be announced at a later time.
Yes, the pre-sale is open to everyone across the globe who meets the SEC’s definition of an accredited investor! Fill out the SAFT form and send it to email@example.com and we will follow-up!
The price of one LOCIcoin is the $2.49 equivalence in ETH. A fixed exchange rate between LOCIcoin and ETH will be set shortly before the Token Sale launches.
The contributions are used for many purposes including development, marketing, sales, and operations. Loci also plans on growth with inventors and strategic partners internationally including law firms and entrepreneurship organizations. Loci also plans on spending significant capital on international lobbying for patent process reforms if enough funds are available.
In order to hold and have LOCIcoins, you must have an Ethereum based token wallet such as MetaMask. MetaMask is a Chrome browser extension that allows access to the Ethereum network. We suggest you view the video on their website and the walkthrough to install from CryptoCompare, but it is a straighforward process. After creating your “den,” then you simply have to add the LOCI ticker for LOCIcoins to be able to add them to your wallet.
Once your wallet is set up for LOCIcoins, you then need to transfer the desired amount of Ether to the sale’s public key and that will lock in your LOCIcoins once the sale is finished and they will then appear in your wallet.
Sign up for the Token Sale by registering your email above and follow the specific instructions provided.
The public and private sale consist of 35MM tokens out the 100MM created. The Loci Foundation will hold approximately 50MM of the tokens, and the rest will be distributed to the team and to our partners who have made the token sale possible.
While it may appear that only a relatively small percentage of tokens are being offered for the token sale, this is actually not the case. The Foundation will be restricted via smart contracts from selling the tokens to the market. Instead the tokens held by the Foundation are mainly for the purchase or licensing of IP from inventors on the InnVenn platform. The Foundation packages the IP to sell to investors or product developers at a premium which can only be purchased with LOCIcoin tokens. The Foundation must have a supply of LOCIcoin tokens to keep the network flowing in this model and have the value of the tokens be driven by the underlying IP. The Foundation’s management of the tokens actually increases the token value instead of diluting it. More information on this model can be found on the white paper. The total 35MM that can be sold for to the public is actually out of 50MM total available for sale, or 70%.
No. Purchasing LOCIcoin does not mean that you have purchased stock, equity, or any other kind of ownership in Loci. When you purchase LOCIcoin, you have purchased currency that you can spend on Loci’s products and services.