I can't understand this spreadsheet.
Please, give me an example.
Ok, here we go.
In this ICO there are two kinds of coins that can be donated: XCR (Crypti) and BTC (Bitcoin). XCR is "old money" that was already donated in mid-2014 and funded the code base (Version 0.5.5) that Lisk will deploy in April. BTC is "new money" that is creating a cash pool to fund further development beyond Version 0.5.5.
These two coins have to be treated differently.
XCR is valued at a fixed fair market price of 1300 satoshi per XCR, which is roughly what you would find if you went to the Poloniex exchange where Crypti has been trading since Sept 2014. You can't trade Lisk one-per-one for Crypti because only 85M Lisk is being given out in the Lisk ICO and there are 100M Crypti. So you have to trade the Crypti in at 1300 satoshi each for Lisk. Another way of saying this is every 1M XCR is worth 13 BTC.
BTC donations are complicated because there are bonus factors of 15%, 10%, 5% and 0% given depending on which week you donate.
Thus ACTUAL BTC donations (in green) have to be modified into "EFFECTIVE" BTC totals (in orange) that have the appropriate bonus added. Similarly, the XCR has to be converted to "EFFECTIVE" BTC at 13 BTC per 1M XCR (in blue).
So as of March 8 at 1AM Universal Coordinated Time (UTC), we see that:
42.9 XCR have been donated so far, valued at 42.9 * 13 = 557.7 BTC (blue / orange)
1350 BTC were donated the first week of the ICO, valued with bonus at 1350 * 1.15 = 1552.5 BTC (green / orange)
1300 BTC were donated the second week of the ICO, valued with bonus at 1350 * 1.10 = 1430.0 BTC (green / orange)
87.25 BTC have been donated so far in the third week of the ICO, valued with bonus at 87.25 * 1.05 = 91.6 BTC (green / orange)
So a total of 1350.00 +1300.00 +87.25 = 2737.25 (green) ACTUAL NEW BTC have been donated so far. This BTC forms the "Lisk Development Cash-On-Hand" fund to finance new Lisk code development. This cash amount is found by multiplying actual BTC by the USD/BTC exchange rate from coinmarketcap.com. So 2737.25 * 410.72 = $ 1,124,243 available to hire programmers to further develop Lisk.
Now to answer the top question of the spreadsheet: I gave them one BTC, how many thousand Lisk am I gonna get? The question is highlighted in yellow, so follow the yellow stripe to the red number : 23.4 thousand Lisk will be given out for every BTC that is DONATED IN THE LAST WEEK WITH 0% BONUS. If you donated your BTC in the FIRST week, you will get 15% more Lisk or 23.4 * 1.15 = 26.9 thousand Lisk.
How do you know this is right? Because the total Lisk to be distributed is a fixed 85,000,000, and 85,000,000 / 3631.8 = 23,404. The 3631.8 (the dark orange number) is NOT the ACTUAL BTC, it is the "EFFECTIVE" BTC total donated that has all the XCR fixed conversion and BTC early donation bonuses mixed in.
So, if nobody donated anything else except for one last BTC receiving no bonus at one minute before the ICO ended, then that person donating that last no-bonus BTC would get 23,404 Lisk.
The problem is, the ICO goes on for another two weeks. More people are going to come in, some with more XCR, some with BTC at 5% bonus and some the last week with BTC at 0 % bonus. The Lisk being given out is fixed at 85M, so if more people come to claim some of it, the share handed out has got to be reduced even more from what it is now. All the numbers in the light yellow area are just what the reduced amounts are going to be at various scenarios of future XCR and BTC donations.
Say more BTC is donated for a final amount of 2900 actual BTC donated by the last day of the ICO. Then the Lisk given out for one BTC will be 22,400 per BTC, not the current value of 23,400.
Or say only one last BTC is donated on the last day of the ICO, but all the XCR gets turned in, all 100M of it worth an equivalent 1300BTC. Then the guy that turned in that last BTC will get 19,400 Lisk instead of the current 22,400.
There are an infinite number of BTC / XCR donation combinations that can occur between now and the end of the ICO. The spreadsheet lists not only the current scenario as a red number, but all the other potential scenarios as other declining numbers.
So why show so many possibilities when only one will occur? So people can understand the process, and in particular, to show that their final value of Lisk received is variable depending on who else shows up.
The other bottom satoshi chart shows how much the value of Lisk has to go up to match the decline in share holdings to keep the donation value constant. For every entry in one spreadsheet there is an entry in the other. They are a matched pair that work together to insure that nobody gains or loses money during the ICO.
THE VALUE OF A DONATION IS HELD CONSTANT DURING THE ICO NO MATTER HOW LOW YOUR LISK HOLDING SHARE GOES.
On the last day of the ICO, the red Satoshi value in the yellow highlighted area is the "fair market starting value" at an exchange where Lisk can be bought or sold.
What will ACTUALLY happen on Day One of exchange sales of Lisk...well, that will be interesting to see.
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