About LocalCoinSwap
LocalCoinSwap (LCS) is a decentralised marketplace which allows buyers and sellers to trade directly in any cryptocurrency using any method of payment. LocalCoinSwap provides a safe, uncomplicated and fast peer-to-peer (P2P) trading platform, allowing users to freely exchange without unnecessary verification requirements or waiting times. The platform utilises a secure escrow system that solves the inherent trust issues of online P2P trading. LocalCoinSwap is holding a crowdsale event of LCS Cryptoshares. Cryptoshares are a digital asset which will be used to facilitate distribution of all profits made by the LocalCoinSwap platform, in addition to all profits made by new business ventures under the LocalCoinSwap umbrella. Cryptoshare holders will additionally receive airdrops of new ICO tokens listed on the LocalCoinSwap platform. The future of the digital currency ecosystem relies on the development of a robust P2P exchange which supports a diverse choice of cryptocurrencies. The innovative distributed ownership model offered by LCS Cryptoshares will bridge this gap in the market, while delivering the profits of the platform back into the hands of its users. In addition, LocalCoinSwap will be the catalyst for expansion of the cryptocurrency market by enabling new users through the elimination of all barriers to entry.
LocalCoinSwap Solution
The digital ecosystem is here to stay, and the mainstream economy is beginning to embrace the ideas of decentralisation and unrestricted trade. LocalCoinSwap represents a return to the most fundamental system of asset exchange without reliance on mainstream institutions – the P2P trade. By enabling P2P trading of all digital currencies LocalCoinSwap will put the market back into the hands of its users, allowing them to directly trade any cryptocurrency using any conceivable payment method in any geographical location. The LocalCoinSwap infrastructure will close this gap in the market, not only by offering a P2P exchange for all cryptocurrencies, but by also tokenizing ownership of the exchange itself into the hands of its users through the world-first Cryptoshare system. LCS Cryptoshares allow all traders on the exchange to take ownership in the platform they are trading on. Despite the straightforward nature of this concept, LocalCoinSwap is the first ever implementation of an exchange where the profits are distributed entirely through a smart contract Cryptoshare system, with the initial launch planned by August 2018.
LocalCoinSwap Cryptoshares
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. 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.
Transparency
LocalCoinSwap will provide an open and transparent exchange to its shareholders. The blockchain itself will provide an unforgeable record of all dividend payouts to Cryptoshare holders. LocalCoinSwap will have a continuous, transparent, and blockchain-based overview of all cryptocurrency revenues generated and to be distributed. Each monthly Cryptoshare holder announcement will detail developments of the exchange and issues which will be voted on by Cryptoshare holders before the next announcement. These issues will include new-venture projects, new coins added to the exchange, design considerations, and more. Cryptoshare holders may submit questions to be voted on through the platform’s integrated community forum.
Allocation of Cryptoshares
70%: maximum allocation to investors through entire crowdsale with burn of unsold
10%: allocated to a community venture fund, the use of which is voted on by investors
10%: allocated to the development team (frozen by contract for 1 year)
5%: allocated to bounty program for community engagement
5%: allocated to reward program for users who increase security of the platform
LocalCoinSwap Trading Platform
Platform overview Development on the LocalCoinSwap platform began in August 2017 and is estimated to be ready for initial release by the end of August 2018. The platform borrows the best elements and features of existing platforms but has been redesigned with an enhanced focus on user experience, coin additions and incorporation of social media interactivity. The core development philosophy for the LocalCoinSwap platform is: safe, easy, enjoyable. Primarily the platform has been developed with the security of the user in mind. Careful attention has been taken to implement intrusion detection mechanisms and segregation of critical components. Extensive research was conducted on previous hacks and the security models of comparable exchanges before development began.
Cryptoshare ICO Issuance
General overview
Token code: LCS
Price per LCS: 0.40 USD
LCS maximum total supply: 100,000,000
Available through pre-ICO/presale/ICO: 70,000,000
Token freeze: 20,000,000
Token burn: All unsold
Payment currencies: ETH, BTC, USDT, BCH, XRP, USD, EUR, GBP, AUD, NZD, CAD & more
Soft cap: 500,000 USD
Absolute hard cap: 20,000,000 USD
Bonus structure: Community based
Transparency: Open source (public Github)
ICO will end 15 June 2018.
Hard and soft capitalisation
The minimum cryptocurrencies available for purchase of Cryptoshares during the crowdsale are: Ethereum (ETH), Bitcoin (BTC), Bitcoin Cash (BCH), Ripple (XRP) & Tether (USDT). Purchase via SWIFT transfer in fiat currency may also be made directly using: US Dollar (USD), Euro (EUR), British Pound (GBP), Australian Dollar (AUD), Canadian Dollar (CAD) & New Zealand Dollar (NZD). SWIFT transfer can be made in other currencies however this is subject to a standard exchange rate fee. Cryptoshares paid for via SWIFT transfer are released upon settlement of the transaction by our corresponding bank. Additional crowdsale cryptocurrencies may also be available if development time allows. Initial pricing for the Cryptoshares is currently set at 0.4 USD per LCS. Other payment currencies are set at equivalent ETH value. This is subject to change should there be a large shift in the price of ETH/USD to ensure the hard cap is maintained. The soft cap for the Cryptoshare crowdsale event is $500,000 USD in total value of all sale currencies. Should this soft cap not be reached all funds will be returned to investors. The hard cap for the Cryptoshare crowdsale event is $20,000,000 USD in total value of all sale currencies. Should this hard cap be reached the crowdsale will be closed and all remaining Cryptoshares on offer destroyed. This limit was chosen to give investors confidence in the maximum amount their equity in the site can be diluted, and to increase the value of the investment for all holders of Cryptoshares.
Crowdsale bonus structure
The presale period will run with a bonus allocation of 40%. The presale will be closed immediately if 10,000,000 Cryptoshares are distributed. During the crowdsale period funding milestones have been set at each $5,000,000 increment. As each increment is reached all existing purchasers of the crowdsale event receive an additional 5% airdrop of Cryptoshares to be distributed once the crowdsale closes. These airdrops are also distributed to presale purchasers, but not to Cryptoshares held by the development team, security/bounty fund & new venture fund. • $5,000,000 of funding reached: All existing Cryptoshare crowdsale investors receive 5% additional Cryptoshares. • $10,000,000 of funding reached: All existing Cryptoshare crowdsale investors receive 5% additional Cryptoshares. • $15,000,000 of funding reached: All existing Cryptoshare crowdsale investors receive 5% additional Cryptoshares. • $20,000,000 of funding reached: All existing Cryptoshare crowdsale investors receive 5% additional Cryptoshares. Residual tokens are then destroyed to increase total value to all investors
Use of funds raised from Cryptoshare issuance
The primary use of all funds raised from the crowdsale is to expand the features of the platform and support addition of new coins. The exact allocation of funds between platform development, security and coin addition will depend on the amount of investment made. Primary consideration is always given to increases to security of the platform during budgeting considerations.
30%: Allocated to increase the security of the platform. LocalCoinSwap offers trading in a large variety of digital assets. To protect against all possible threats multiple layers of redundancy have been implemented in wallet systems, and security critical processes abstracted to separate servers. A large allocation of crowdsale revenue towards security will provide users assurance that LocalCoinSwap is a safe platform on which to trade.
30%: Allocated exclusively for the addition of new coins. LocalCoinSwap aims to provide the maximum diversity of trading options upon launch and will hire dedicated staff solely to investigate and implement new cryptocurrencies.
20%: Used for further development and expansion of the platform. This will enhance scalability and the number of features which will be offered on initial launch.
15%: For business development, marketing & advertising. LocalCoinSwap will implement broad marketing & advertising strategies to increase the user base of the platform upon launch. These strategies are refined and focused campaigns based on the data and analytics gathered during the Cryptoshare issuance.
5%: Allocated for administration costs incurred during the final development of the platform.
Roadmap
December 2015 Company Incorporation
September 2016 Initial team members establised
March 2017 Concept development
August 2017 Development on exchange begins
February 2018 Official whitepaper launch
February 2018 PrelCO
March 2018 Presale
April 2018 ICO
May 2018 Submission for exchange listing
June 2018 Early access to platform
July 2018 First Cryptoshare holder vote
August 2018 Launch date for exchange
October 2018 Integrated REST API
January 2019 Mobile trading application
February 2019 Start of dividend distributions
Some Important Links of LocalCoinSwap
Website= https://www.localcoinswap.com
ANN= https://bitcointalk.org/index.php?topic=2916403
Whitepaper= https://www.localcoinswap.com/LocalCoinSwap_whitepaper_v1.0.pdf
Facebook= https://www.facebook.com/localcoinswap/
Twitter= https://twitter.com/Localcoinswap_
Telegram= https://t.me/localcoinswap
Medium= https://medium.com/localcoinswap
Linkedin= https://www.linkedin.com/company/localcoinswap/
Steemit= https://steemit.com/@localcoinswap
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My Bitcointalk Username= Mungurul
Bitcointalk Profile= https://bitcointalk.org/index.php?action=profile;u=1014315
Myetherwallet= 0xf6cd3f4FB6ff269271FC56C205C5b0a8b2Cc365