The value in the LGC token is that they will be redeemable for services rendered by Lumag data aggregation service. Lumag will provide time series data aggregation services for any and all of the different currencies, coins and assets that can be bought and sold on the Stellar network. The initial idea for this API service came about from some posts made in this Galactic Talk thread.
This offering is can be seen as a kind of crowd funding of sorts. During this initial offering period the LGC tokens will be made available to all for 50% of the normal price. This pricing structure is to allow those who would like to use the Lumag services a chance to get a deeply discounted price. Also for others who might want to buy the tokens to support a novel service such as this believing it could help increase the use and adaption of the Stellar network. Or even just to buy the tokens as an investment and resell them after the issuance of LGC has changed to the full price.
The duration of this LGC token ICO will last until all of the 2,800,000 LGC being offered during this ICO period has been sold or the Lumag service has been launched.
LGC tokens are available for sale on the Stellar network. They can be purchased using any of the many available Stellar wallets or trading tools. It is also possible to just use the Stellar laboratory on the public Stellar network that provides more of a manual interface.
All that is needed is to first trust the LGC token issuing account GDROLPIBSRBLLKFVXDU3ALEO4WGRJ4THGUGL5AVIN7NEY2DZNLA7L3EA for the LGC you would like to hold. After that the LGC token can be purchased on the public Stellar network for the ICO half off sale price of 50 XLM per 1 LGC. After the ICO of the LGC token has ended the price of any remaining or later issued LGC will be set to the normal price of 100 XLM for 1 LGC.