We are currently in our Presale phase, conducted in a “warm market” consisting solely of personal acquaintances and associates. This phase has already resulted in sales of approximately US $850K, and we intend to continue it until at least a further minimum of $500K has been sold, but not to exceed a total of $3M for the Presale. Buyers of OTO/Lyra in this phase get a price of $0.30 per coin if they purchase in bulk lots of $25K or more, or a price of $1 per coin for smaller quantities. In either case buyers are given a choice: add a 50% bonus in coins delivered immediately; or add a 100% bonus that does not vest until the start of Round 6, in which coins will be sold at $32 ($9.60 bulk rate, see Table 2 below). Following the completion of our Presale phase, we will commence what we've designated as “Ground Zero.” In this phase a minimum of a further $3M worth of coins will be sold, up to a maxiumum of $30M. The price structure will be the same as for the Presale, but the coin bonus structure will be different, as follows:
Following the completion of the “Ground Zero” phase, there will be at least six further numbered Rounds, depending upon demand. In these phases the discount will gradually be reduced from 96.88% offered in Presale and Ground 0, and be cut by half in each successive Round. Bulk prices will always be 30% of manufacturer's suggested retail price (MSRP). For its use in DApps, OTO/Lyra will be pegged at the MSRP. In addition, the quantity of coins available for sale will be doubled each round. There are no bonuses after Ground 0. At least two independent “funnels” will be utilized for Round sales, each with its own quota. These are: the bulk (or wholesale) funnel, for lots >$25K, and the retail funnel for lots <$25K. Retail packages will be defined at $500, $1500, $3000, $10K, and $25K, and possibly other price points.
In addition there may be a third funnel, for ERC20 tokens (Elyra). These will be sold for ETH on a sliding scale price based on the market price of ether. Elyra tokens will be interchangeable with OTO vouchers, as well as with Lyra coins on our blockchain. Once the Ascension blockchain has been launched, all Elyra ERC20 tokens will be converted to Lyra coins.
Therefore, a minimum of 126M Lyra coins will be minted between the start of Round 1 and the end of Round 6. This figure does not include those coins minted in the Presale or Ground 0 phases. That number will depend entirely upon the average price at which those early-phase coins are sold.
(That is, it depends upon the quantity of sales that are made in bulk versus by means of packages at full retail price.) Our current estimate for Ground 0 mintage is ~60M coins. Any Lyra sold as Elyra ERC20 tokens will represent additional mintage. It will be observed that if one funnel sells out its Round allocation prior to another, it may create an arbitrage opportunity for alert speculators.
It will be seen that the total number of Lyra introduced into the market from all sources cannot be determined definitively in advance. Our working estimate for the end of Round 6 is on the order of 200 – 250M coins. At a MSRP of $32 this projects a total market cap of between $6.4 and $8 billion. If this were achieved today, it would place Ascension in around 12th position for market cap, between EOS and Dash. Of course, we expect that selling this many coins will require a minimum of at least one year, while the top 10 list of cryptocurrencies changes extremely rapidly on a daily basis as the space grows. It is quite possible that in the event, our successful completion of Round 6 will not even place us in the top 50. In any event we will always publish accurate total circulation figures, via websites until our blockchain is launched, and via the blockchain itself afterwards.
Beyond Round 6, our plan is to continue to sell tokens at a premium price (>$32) to meet market demand, as may be needed. However our expectation is that after that point significant growth in circulation will be accomplished by means of DApps, which will have become much more numerous.