BitcoinLatina volunteers are selling a total of 250 million earned BTCL coins. The minimum value for each coin is one U.S. penny per BTCL coin. This values all of the coins at an anticipated $2.5 million if the value remains at one cent per coin.
Similar to the EOS coin offering, buyers say how many coins they want at one penny and pay that minimum amount, understanding that if more than $2.5 million in coins are in demand the total amount deposited by all buyers at 12am EST on August 1, 2018, will be divided by the 250 million coins that are available to set the final price.
If less than $2.5 million is raised the remaining BTCL volunteer coins will be returned to the volunteers, and buyers will receive the amount of coins they purchased at the minimum value of $0.01 per BTCL coin.
Example: Coins are oversold, but do not exceed the hard cap:
- You purchase 2000 BTCL for $20.
- By August 1st if a total of $5 million worth of BTCL coins are sold the price would be $0.02/coin.
- $5 million divided by 250 million available coins = $0.02/coin market valuation.
If $10 million in coins are sold the auction will end at a value of $0.04/coin.
The total price of the coins will be set by the amount sold divided by 250 million available coins.