Overview: ICO & Bounty LocalCoinSwap
LocalCoinSwap ICO overview
LocalCoinSwap (LCS) - an international project designed to simplify the process of trading crypto currency. LCS is a decentralized platform that allows you to trade any virtual money convenient for sellers and buyers in a way. This business site operates on the basis of P2P, allowing you to quickly and conveniently exchange currency. The main objective of the project is to ensure the possibility of trade between sellers and buyers directly, without intermediaries.
A little about the project
LCS is a young company registered in 2015 in Hong Kong. The development of the platform began in August 2017. The final launch is planned by the end of August 2018. When creating the platform, the experience of existing projects was taken into account. However, developers have focused more attention to user convenience and their security.
The team is based on qualified experts from several countries with experience in such areas as economics, marketing, commerce, computer technology, molecular genetics. The mission of the organization is to strengthen the position of the digital economy.
The philosophy of the platform
The main goal of the site is to ensure the safety of users. In the design, first of all, considerable attention was paid to this component. To this end, the company's employees carried out research, during which the well-known fraudulent schemes and hacker attacks that took place in the history of crypto-currency were carefully studied. As a result of the analysis, special mechanisms were developed that could ensure the safety of the profiles of the project participants, and also qualified employees for ensuring information security were recruited.
In the development stage, increased attention was paid to ease of use. The developers of the site tried to simplify the interface for users' perception, reduce the number of pages and reduce the number of operations to perform any actions. Another example of convenience is a simplified registration procedure, which does not require the identification of passport or other personal data.
LocalCoinSwap focuses exclusively on the needs and desires of its users. In connection with this, a voting system will operate on the site, where issues related to the development of the project will be discussed. For example, users will be asked about whether to work with a particular crypto currency, introduce a new one onto the platform or abandon an existing one, etc.
Prerequisites for the creation
LCS seeks to make a tangible contribution to the development of the crypto industry, which is experiencing a number of serious problems, including:
Obstacles on the part of banks and government institutions of most countries in the world.
High risk of fraud.
Low level of security of personal data of account holders.
Absence of a single P2P platform for the exchange of crypto-currencies.
A limited number of electronic currencies, supported by P2P.
The complicated process of buying crypto currency, including a large number of additional commissions.
Monopolization of the virtual currency market.
To date, there are many mechanisms that allow one to easily exchange one crypto currency for another. However, there are serious obstacles for those who wish to acquire virtual money in traditional ways. The project expects to help newcomers of the market who are ready to buy electronic money by fiat.
LocalCoinSwap aims to solve these problems and create favorable conditions for users of the crypto-currency industry.
On the other hand, developers carefully analyzed the market of virtual currencies during the development of the business plan. Studies have shown that the Crypto currency market is rapidly approaching the $ 1 trillion mark with a total capitalization of $ 700 billion. Due to the growing popularity it is expected that the market will continue to develop further.
Benefits of using LCS
The team provides users with the following benefits:
A variety of available crypto currency (30-50 tokens).
Unlimited number of available trading operations.
Ensuring the security of personal data of users (you do not need to provide passport data when registering).
Exclusion of mediation - provides a direct link between the buyer and the seller of the crypto currency.
An abundance of available payment methods.
The users have a reputation, which increases the level of trust among new members.
Use to exchange funds for cold wallets.
Absence of geographical boundaries.
Equal rights and opportunities for all project participants.
Participation of each user in the development of the project by voting.
An interactive system that has similarities with social networks and forums - it is possible to add other users to friends. Each user has an avatar, status, reputation, awards.
There will be a special storage facility on the LCS site. As soon as the seller confirms payment, the buyer receives the purchased crypto currency on his account.
Simplified fee structure
LCS levies a commission solely for the transaction performed on the basis of the announced value of the transaction, without all possible hidden fees for storage, withdrawal, etc. In fact, the seller pays for the services of the platform for advertising, for offering a deal.
Users who trade in large quantities will be granted a special status that will grant a number of privileges: a smaller percentage of the collection, as well as the establishment of a special badge on the profile banner of such a user, indicating a high reputation.
Ensuring transparency
Ensuring transparency is one of the main objectives of LCS. This is extremely necessary to ensure the confidence of users and motivation of investors. The system, based on the block technology technology, records all the transactions conducted, and also distributes dividends to investors.
Own currency
The LocalCoinSwap platform's crypto currency is denoted LCS. The cost of one LCS is 0.0004 ETH (etheriums), which on March 19, 2018 is about 21 cents. You can buy an LCS coin with several virtual and real currencies. In total, the team plans to produce 100 million LCS, of which 70 are planned to be implemented in the ICO process and preliminary sales. From March 15 to March 31, preliminary sale of LCS takes place. ICO will be held from April 15 to June 15, 2018.
LCS currency is distributed as follows:
70% will be distributed among investors.
10% will receive developers and the public foundation LocalCoinSwap.
By 5% assigned to Bounty programs and users, collaborating with developers to improve the security of the project.
The developers also provided a bonus program to stimulate the pace of sales of foreign currency. So, during the preliminary sales 40% of bonuses will be distributed. Organizers have planned 4 investment stages (up to 5, 10, 15 and 20 million US dollars). At achievement of each of this stage, all existing investors in addition receive 5% of discounts on LCS.
Detailed information about the project
Website: http://www.localcoinswap.com/
Whitepaper: https://www.localcoinswap.com/LocalCoinSwap_whitepaper_v1.0.pdf
Facebook: https://www.facebook.com/localcoinswap/
Twitter: https://twitter.com/localcoinswap_?lang=en/
Telegram: http://t.me/localcoinswap/
Bitcointalk: https://bitcointalk.org/index.php?topic=3009721.0
Author: https://bitcointalk.org/index.php?action=profile;u=1636127