💎Tokenomics
The LastChance tokenomics is fitted out with a carefully planned out distribution and vesting schedule to create long-term value for the project and strengthen confidence among token holders.
Total Supply
There will be a limited total supply of 100,000,000 LCT minted on the BNB Chain blockchain.
Cap & Funding Rounds
LCT’s initial market capitalization will amount to $925,000. There will be a total of 3 funding rounds raising a total of $600,000.
LCT Liquidity
LCT liquidity will be auto-enhanced by the platform auction mechanics — 25% of each bid on LastChance is distributed to boost it directly. Initial LCT liquidity will be funded with IDO-raised means.
LCT Token Allocation & Vesting
26% — Auction Maintenance
Auction Maintenance Allocation is the largest portion of the total LCT supply and is allocated to maintain blockchain coin LastChance auction mechanics, that is, where people bid using blockchain coins, such as BNB Chain’s BNB, or Harmony’s ONE.
20% of the mentioned 26% will be unlocked at the TGE. This very portion is the one that will help keep LastChance auction mechanics going in the first few Qs after launch, which are Q1 and Q2, as the vesting schedule sets a 6 month cliff succeeded by a 2-year linear vesting period. This will allow the platform to grow by degrees, providing for the mechanics of various new auctions launched on the platform on other blockchains.
15% — Staking Rewards
LastChance is striving to be a community-driven platform, DAO-governed by its users. This way, LCT holders will have major leverage over LastChance’s choice making. Voting, they will be enabled to determine auction settings and the project’s overall development direction. While benefiting from LCT’s governance & utility features, LastChance users will also have further profit-yielding options, with on-platform LCT staking functionality being one of them.
The LastChance staking functionality is projected for Q2 2022 for our holders, so we set a 2 month cliff up followed by a 5-stage 2-year linear vesting period.
13,5% — Token Sale Aggregate
This percentage of tokens to be sold per LactChance’s Token Sale Terms & Conditions will help ensure the project’s successful kick-off, draw in the crypto community’s attention and conjure up the initial LCT value.
10% — Reserve
It’s challenging to envisage every single bit at the early stages, then plan the tokenomics in detail and carry out an adequate token allocation. Therefore, we budgeted 10% of the LastChance tokenomics as a Reserve Allocation that is to be vesting monthly over 3 years after a 9-month cliff.
The Reserve Allocation will help the platform deal with unforeseen circumstances the future might bring.
10% — Marketing
7% — Development
7% — Team Compensation
This allocation is set aside for the LastChance team to compensate its members fairly for their contribution to building and promoting the project.
6.5% — Strategic Partnerships
The LastChance platform is open to partnership and is going to bring projects whose communities are keen on participating in auctions featuring their favorite projects’ crypto assets — coins, tokens, or NFTs.
This allocation is intended to be distributed to the future partner projects’ communities.
3% — Liquidity Enhancement
The LastChance team is going to release 3% of the total tokens at its TGE to spark the token’s initial liquidity on the BNB Chain’s DEX.
2% — Ambassador Program Rewards
LastChance Ambassadors are going to enjoy a 2% portion of LCT token supply in the early stages of the project’s growth. This will be a significant push conducive to the platform’s advancement, making hitting strategic milestones easier.
We have thought carefully about the vesting schedules for each allocation in order to create long-term value for the project and generate confidence in token-holders.`
Check out the token distribution charts below for a simplified view.
The token distribution to the sale rounds participants will take place simultaneously with the launch on the BNB Chain mainnet. In other words, there will be a waiting period between the sale rounds and token distribution which will align with the LCT token listing date.
Funding Rounds
We will raise seed, private, and public rounds. Each round's details are included shown below.
Seed Round
12% of the total LCT supply (100,000,000) is allocated for our Seed Sale. The objective is to raise $450,000. The round's token price is, accordingly, 1 LCT = $0.0375.
Vesting Period 3-month cliff at TGE, then 10% released and vested over 12 months.
Private Round
Another 6% of the total LCT supply (100,000,000 LCT) is allocated for the Private Sale. This time the objective is to raise $300,000 at the price of 1 LCT = $0.05.
Vesting Period In this round a special allocation will be made available exclusively for our key community members (e.g. Ambassadors, Senior Ambassadors) at a reduced price, which is TBA.
Public Round
The Public Sale will take the form of an IDO, accounting for 1.5% of the total LCT supply (100,000,000). Our goal this round is to attract a total of $150,000 in investments. The token price will be at 1 LCT=$0.1.
Vesting Period 50% released at TGE, then vested monthly over 12 months.
At this point we are raising our seed round, talking with various VCs and individual investors to attract funding.
Staking
Staking is another income option on LastChance. Since all bids are returned to participants in the form LCT tokens, staking options help incentivize participants to take part in auctions. LCT holders can stake their tokens in liquidity pools and earn rewards in LCT. Liquidity providers are rewarded a portion of transaction fees for in-pool swaps, depending on their share of the pool.
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