What is an ICO?

What is an ICO?

ICO is a crypto buzzword that stands for Initial Coin Offering. It is a way for digital asset companies to raise initial capital. Investors are given coins or tokens in exchange for their investment during the ICO trading event. It is mostly attended by venture capitalists and crypto enthusiasts from all around the world.

In order to receive a new cryptocurrency token issued by the company, interested investors participate in an initial coin offering. The majority of the token represents a utility related to the company or project service that the company is offering.

The LYO Credit ICO took place in six stages including the pre-sale, each of which was a success. The token was valued at $0.60 at the begin of the ICO, and $1.14 at the ending. The token's latest ICO phase ended on December 31, 2021. LYO Credit was then made available for use in transactions and trading on exchanges such as LYOTRADE.

Timing of LYO Token ICO

Round	Tokens	Period
Pre-ICO	2,500,000	7 - 31 July 2021
Phase 1	5,000,000	1 - 31 August 2021
Phase 2	10,000,000	1 - 30 September 2021
Phase 3	15,000,000	1 - 31 October 2021
Phase 4	15,000,000	1 - 31 November 2021
Phase 5	17,500,000	1 - 31 December 2021
Phase 6	22,500,000	1 - 31 January 2022

How does ICO Work?

When a cryptocurrency project decides to raise funds through an ICO, the first step is for the project organizers to decide how they will structure it.

Static Supply and Static Price:

Companies typically establish a specific funding goal or limit. The price of each token sold in the ICO is fixed as well as the total token supply.

Static Supply and Dynamic Price:

An ICO has a fixed token supply and a dynamic funding goal. However, this means that the amount of money raised in the ICO phase determines the overall price per token.

Dynamic Supply and Static Price:

The majority of ICOs feature a dynamic token supply with a constant price. This means that the supply is determined by the amount of money raised.