In December 2017 LTO Network raised the seed round of $1.4M among supportive European community members and early adopters. There was an average of 40% bonus in the seed round, and it was almost fully raised in fiat. After working for a year, developing the product and getting clients, LTO Network raised private sale in December 2018. The bonus was between 15-30%, raising $1.7M. The last sale round was the crowd sale, in January 2019. The smart contract was open for 60 hours, during January 14-16. In total, 7990ETH (990,000 USD) was raised, and remaining unsold tokens were burned, which was over 50% of the crowd sale supply.
Crowd sale participants received ERC-20 tokens, which are directly tradeable - while private sale and seed received mainnet tokens, which are not directly tradeable. We called it Bridge Troll model, which was a new way of handling the liquidity of different rounds.
We liquidated raised funds into USD straight away, because we do not tolerate speculation with the money community entrusted us with. We need to spend it on development and marketing, rather than taking risky choices with it. And that's what we have been doing!