- Starts in October 2017, runs for 15 days. Exact date is TBA.
- Total supply of 240,000,000 BAC (240 million) will be offered in a Dutch auction.
- There is a hidden cap of target ETH received (including BTC, calculated at the market rate). The cap will be made public when 80% of the cap is reached.
- Phase 2 ends when either the ETH cap is reached or all tokens are sold. The final auction price is determined according to the table.
- All successful participants enjoy the same final auction price.
After Phase 2 is completed:
- ERC20-compatible BAC tokens will be issued to successful participants.
- BAC trading will be enabled at LakeBTC.com before November 1.
- Unsold tokens will be retained by the team.