ICO stands for Initial Coin Offering and is a mechanism for a company to issue a token in order to fund new ventures and services.
ICO in many ways is a digital version of an IPO in the traditional stock market, but more accessible to everyday investors.
Presale refers to an initial period before the main fundraising period where a smaller amount of funds are raised at a discount.
The LocalCoinSwap presale period is being utilized to develop a smaller initial following to use as a feedback and testing ground for community development and marketing during the ICO period.
Pre-ICO refers to a private sale of token units to investors in advance of the presale.
This is usually used to raise early-stage funding for a venture, and generally involves a minimum investment level.
LocalCoinSwap has undergone a small round of pre-ICO funding with private participants prior to the presale.
However, as stated in the Whitepaper the maximum amount of units available for sale before the ICO is 10,000,000.
Any units sold during pre-ICO will be subtracted from units available during ICO, in order to ensure that the equity and profits of investors is not reduced.
Early-stage investors are added to a private mailing list and contacted directly (if they wish) for feedback on LocalCoinSwap platform development prior to the main ICO.
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