Recent update from LaLa World -
Auction of Non-KYC LALA Tokens starts 6th March
The KYC/AML verification process and token distribution is now complete!
As you are all aware we had strict KYC compliance throughout. We are delighted to announce that only 2.37 Million tokens were found KYC non-compliant.
These Tokens belong to the community and these KYC non-compliant tokens will be Auctioned in a reverse Dutch Auction.
Keeping in mind the ICO price and due to huge demand of LALA to date, auction for 2.37 million LALA will start at a price of 50 Cents per LALA Token on 7th March 2018, 2pm SGT with registration starting 24 hours prior on 6th March. Price will decrease by 5 cents every 3 hours with the final price floor at 25 cents.
For e.g.Between 2pm-5pm starting 7th March 2018, minimum price per LALA Token will be 50 cents, after that between 5pm-8pm minimum price per LALA Token will be 45 cents and so on, until the price reaches floor of 25 cents.
Auction will be closed after receiving bids for a maximum of 3 Million Tokens. After receiving all the bids, LALA Tokens will be allocated to early bidders of 2.37 million tokens at lowest bid (Last bid) of the auction.
For e.g. suppose a participant, Daniel, places his bid at 47 cents per LALA at 7pm SGT for 10,000 LALA Tokens. Last bid placed in the auction, for 3 million tokens, is 39 cents. Therefore, Daniel and all other first participants of 2.37 million tokens will be allocated tokens at 39 cents, the last and lowest bid.
ETH will be only acceptable currency in this Auction. For avoiding last hour rush, Auction platform will be opened on 6th March, 2pm SGT, 24 hours before the auction time so that participants can deposit Ether on the platform prior to opening of the platform. This will also ensure fair chance for everyone.
Participants can register on the platform, deposit ETH But cannot place bid before 7th March 2pm SGT. All remaining ETH or left over ETH beyond 2.37 million tokens will be refunded immediately.
LALA Auction platform is open for all to participate!
- Note: Multiple bidding is allowed. Minimum purchase is 1000 LALA Tokens and maximum purchase is 250,000 LALA Tokens.
- Note:The benefit of early bidding is that you will definitely receive LALA Tokens.
- Note:You can check the highest and lowest bid on the dashboard anytime which will be displayed live.
Thank you for your continued support!
*7900+ Strong LALA Family
