Phase 2 - Dutch Auction

  • 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.
Phase 2 - Dutch Auction1 ETH = ? BAC
First hour100
Hour 2104
Hour 3108
Hour N100 + (N-1)×4
Hour 201 and after900