preloder

FAQ

ICO

Can everyone get a token?
Provided that the token purchase meets your country's legal regulations, anyone can get the token. Currently, we exclude the following countries: U.S., China, North Korea, Nigeria, Somalia, Yemen and Cayman.
Do I need to provide KYC documents?
Yes KYC documents are required in order to contribute to our token sale.
Do you have a funding cap?
Yes, there will be a funding cap of $ 8 mn.
In what currencies do you accept payments?
During public sale, we accept Bitcoin and Ether.
What is the minimum and maximum contribution size?
Minimum and maximum contribution size will be announced shortly prior sale.
What will happen if you raise less money than you need?
Our funding soft cap of $2m has already successfully been reached and therefore our minimum amount has already been secured. Additional funds collected within public sale will be helpful to execute an effective market strategy.
What will happen to unsold tokens?
Unsold tokens will be burned. You can expect transparent communication throughout our channels in this regard.
What will you use the raised money for?
The raised funds will be used for development of the blockchain protocol, regional expansion of existing use cases, as well as Compliance, Legal, Administration & Finance tasks.
When will your ICO start?
The public sale is scheduled for March 2019. A more detailed timeframe will be given shortly before.
Where can I see the progress of your ICO and the amount of money you already raised?
Currently, we are  accepting investments from selected, invitation-only investors that have the opportunity to participate early, before the widespread media attention starts. Once we launch our public sale, we will inform on progress through our social media channels and our website https://www.lition.io.
Will you organize a pre-sale of the tokens?
Yes, the private pre-sale is currently ongoing for selected investors on invitation-only basis. The public pre-sale and crowd sale will be held in February-March 2019.

Lition Blockchain

How many sidechains will exist in the Lition Network?
Potentially infinite; the more developers and companies are using our ecosystem, the more sidechains are created.
On which Blockchain is Lition’s layer 2 scaling solution being built?
Since Ethereum is being the currently strongest public Blockchain in our opinion, we decided to complement it by building our layer 2 scaling solution on top of it.
The Lition Energy Exchange is based on which Blockchain network?
The Lition Energy Exchange application is currently running on the Ethereum public Blockchain which is constrained by the above mentioned points. Therefore, once our Blockchain infrastructure mainnet is going to be live the Energy Exchange will be migrated upon it.  
What is your consensus algorithm?
Our concept is based on a Proof-of-Stake consens mechanism with two types of nodes; public nodes with access to the mainchain and public sidechains, and privileged nodes with access to private sidechains. For this a special permission by the sidechain owner and agreement to terms of service is necessary. A full overview is available on www.lition.io and especially the technical whitepaper.
What makes the private sidechain so secure?
Private sidechains can only be created by trusted privileged nodes pre-authorized by the sidechain owner. Except both parties no one else can access data on this very sidechain. They have to accept terms of service and vouch with staked tokens for lawful behavior. On request, privileged nodes delete date from private sidechains, i.e. when the customer's contract expired.
Why is Lition developing a layer 2 scaling infrastructure?
The Ethereum Blockchain is currently not providing all necessary features in regards of regulations and scalability. Our infrastructure is being needed in order to complement the Ethereum Blockchain by adding features such as scalability, private data handling as well as data deletability in aspect of certain regulations (e.g. GDPR).

Token

Are contributors required to get whitelisted?
It is not necessary but it increases your chances.  
Does the LITION token comply with the ERC20 standard?
Yes, our LITION token will be ERC20 compliant.
How do you ensure protection for the token owners?
We take our token holders' security very seriously, which is why their accounts are protected on many levels:
  • Payment security: We use the most secure payment processing methods. Payments in cryptocurrencies are secured by the blockchain technology. Payments in fiat currency are accepted only via a wire transfer, where the international banking system and our leading European partner bank ensures their security.
  • Smart contract security: Lition uses robust and tested token smart contracts and works with industry-leading institutions to ensure maximum security for all token holders.
How much will the token cost?
Our token will cost USD 0.10.
How secure is the storage of tokens?
Fully secure. The vast majority of the system's tokens are kept in cold storage, and we ensure the strict safety procedures. Account access in secured with two-factor verification which prevents unauthorized access.
Is Lition an utility token?
Yes, Lition is an utility token.
What do I need tokens for?
Tokens are used to for creation of private sidechains, to pay for all transactions on the Lition infrastructure and for access to token staking rights.
What will happen to my contribution if the tokens will be banned or become the subject for legal regulation?
As our ICO and token design has a formal approval from the government of Liechtenstein, our emitting country, Lition can provide far more safeguards than almost any other ICO. Liechtenstein has just officially launched their blockchain constitution and stated tokens will not in any case be banned if they have the approval of the state.
When will I receive my tokens after the sale?
Once the sale closes you should receive your tokens in a short timeframe. Please keep in mind that those tokens will be locked for transfer until the team decides that conditions for an exchange launch are appropriate.
Will there be a token swap, and if so, when?
Since we are building on top of Ethereum, there will not be a separate mainnet token.

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