Token Sale Info:
- Ticker: LCS
- Pre-ICO Start: March 15th, 2018
- ICO Start: April 15th, 2018
- ICO End: June 30th, 2018
- ICO Token Price: 1 LCS = 0.0004 ETH
- Bonus: Yes
- Token Type: ERC20
- Accepts: ETH, BTC, USDT, BCH, XRP, Fiat
- Soft Cap: $500,000 USD
- Hard Cap: $20,000,000 USD
- Total Token Supply: 100,000,000 Max
- Tokens For Sale in ICO: 70%
LCS Token Allocation Breakdown
- 100,000,000: Total supply of Cryptoshares which are minted in advance of presale. The contract for the Cryptoshare locks this limit as unchangeable so no more Cryptoshares can ever be created. This limit was chosen to give higher possible future values to individual Cryptoshares. This contract is open source and publically available on the LocalCoinSwap Github repository.
- 70,000,000: Maximum issuance of the Cryptoshares through the pre-ICO, presale and ICO period. At the end of the crowdsale period all unsold Cryptoshares from this portion of the issuance are destroyed to increase the value of remaining Cryptoshares.
- 10,000,000: Reserved for special community venture fund. These Cryptoshares and associated dividends are frozen for 1 year. After the end of the freeze LCS Cryptoshare holders may vote on the use of these funds and dividends for the purposes of developing the company. Staff members are ineligible from voting on the use of these funds. This fund provides incentive for holders of Cryptoshares to participate in the community aspect of the platform..
- 10,000,000: Reserved for equal share between the core development team. These Cryptoshares are frozen for 1 year to incentivise staff to grow their value.
- 5,000,000: Allocated to security reward program. This will increase the security of the platform by incentivising malicious actors to report any exploits found rather than taking advantage of them.
- 5,000,000: Reserved for the bounty program. This program will assist with the promotion and marketing of the platform users. These bounties will be paid out for services such as translation, content creation and brand development.
LCS Cryptoshare Overview
LCS Cryptoshares are not like traditional ICO tokens. Instead of a vague promise of possible future returns or idealistic visions which may never eventuate into product, Cryptoshares entitle the holders to guaranteed rights to 100% of the total profits from the Localcoinswap exchange through cryptocurrency dividends.
Cryptocurrency profits are paid to shareholders in the same cryptocurrencies in which they are made, allowing the investor to receive a regular stream of portfolio income. By holding a single Cryptoshare asset, the investor is entitled to a wide variety of cryptocurrency profits across the entire spectrum of the digital economy.
Cryptoshare holders are also entitled to receive airdrops of new tokens when ICO’s are listed on the LocalCoinSwap platform.
In addition, LCS Cryptoshares entitle the holder to voting rights in the platform’s decisionmaking process, such as the listing of new tokens on the exchange, the direction of new business ventures and design considerations or functionalities for the platform. Cryptoshares in LocalCoinSwap are more than just a stream of dividends, by investing you become an integral part of the future of the exchange itself.
Dividend & Voting Tokens
Profits from the exchange are calculated and distributed at the end of each fiscal period. The total issuance of dividend and voting tokens will be the same as the total supply of LCS Cryptoshares. These tokens are then issued to holders of LCS Cryptoshares on a 1-to-1 ratio.
When dividend and voting tokens are redeemed they are destroyed by the contract they are broadcast to in order to prevent malicious attempts to claim extra funds or manipulate votes. LocalCoinSwap contracts holding non-issued Cryptoshares (such as the security bounty or venture-fund contract) automatically burn all voting tokens they are issued.
Currencies Offered as Dividend Payment
LocalCoinSwap will launch with as many of the most traded cryptocurrencies as development time allows. The initial launch aims for a minimum of the leading 10 cryptocurrencies. The platform will add new cryptocurrencies at a constant rate in order to encompass the majority of the cryptocurrency market.
LCS Cryptoshares will entitle users to a vote in the listing priority of new currencies through a direct democracy contract using their voting tokens.
LocalCoinSwap recognises that the cryptocurrency economy is a constantly changing environment with new assets emerging on a regular basis. By actively engaging with the holders of Cryptoshares, LocalCoinSwap will implement the coins which the community wishes to trade
Airdrops of New ICO token Listings
LocalCoinSwap provides a listing service for new ICO tokens to allow them to launch on the LocalCoinSwap platform or raise pre-ICO and presale funding.
The requirement for listing new ICO tokens is that holders of LCS Cryptoshares receive an airdrop of some proportion of the new tokens in advance. These airdrops are automatically distributed through the same mechanism as the dividend and voting tokens. The specific requirements for new ICO tokens to list on the LocalCoinSwap platform will be decided through the proof-of-stake voting system.
The requirement for new ICO tokens wishing to raise pre-ICO funding is that LocalCoinSwap users and Cryptoshare holders must be entitled to special discount offerings.
The expansion of LocalCoinSwap to provide a comprehensive listing service for new ventures to perform pre-ICO, presale and ICO is a fundamental priority for the platforms development after initial launch.
Decentralisation of Ownership
Cryptoshares owners are valuable members of the LocalCoinSwap community. As such, they are entitled to provide input in all facets of site development, new business ventures, as well as having complete ownership of their respective share of profits. These voting rights include uses of the sites revenue. No significant new ventures will be undertaken without a vote amongst holders of the public issuance.
All holders who wish to participate will vote in a proof-of-stake system handled by the issuance of a voting asset which can then be used in a public and transparent democracy contract. The democracy contract is open source and the outcome of votes publically tallied.
Chief Technical Officer – Bachelor of Economics (Major in Econometrics)
Chief Financial Officer – Bachelor of Commerce (Major in Accounting and Finance)
Chief of Operations – Bachelor of Economics (Major in Quantitative Methods)
Lead Security Engineer – Bachelor of Mathematics (Major in Pure Maths)
Blockchain Developer – Bachelor of Science
Lead Developer – Developer degree in Computer Science
Chief Marketing Officer – PhD, Commodity Futures Markets
UX/UI Designer – MUZE Agency
We had a chat with a friend, one from the list of Crypto Conversations, that we all have to have with people who don’t understand it. It was the one I think of affectionately as “number 3”, the one about energy use.
https://t.co/f9fxOvkHY0 #BitcoinMining #Cryptocurrencies https://t.co/XachZwlG3K
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