LocalCoinSwap is a platform that is created as a decentralized exchange for direct trading of P2P between the buyer and seller of any cryptocurrency with the admission of any method of payment.
The market for cryptocurrency made a rapid leap in capitalization in 2017 (more than 3000%), which led to the creation of many new exchanges. At the beginning of 2018, capitalization fell, but now it is growing again and users are increasingly believing in cryptocurrency and increasingly using it. But, despite such a development of the crypto, many interested people do not enter into it because of the problems that the exchanges create themselves.
Of the key can be identified such as the possibility of insider trading, front-run and distortion of the pricing of the crypto currency. Also on different exchanges, there are such barriers to entry as too detailed a form of KYC, but there are risks to the account of transaction security. Also on platforms is often too high pending time and you need to wait a long time until your transaction is over.
About the Platform:
Against this background, a LocalCoinSwap is created, which will belong to the crypto-enthusiasts themselves and on which there will be no centralized leadership. All exchanges will be made in the form of P2P, which will support a diverse choice of crypto inversions.
The platform will have its own Cryptoshares, a digital asset that will be used to facilitate the distribution of all profits generated by the platform. That is, almost all the profit of the platform will be distributed between the topic, who invested in it and has its conditional shares. This is similar to dividend payments for owners of ordinary shares, but with bonuses for a fast-growing market and blockchain-building technology.
Tokens Companies and their Sale:
Platform tokens can be used to exchange for other crypto-currencies and token owners will receive dividends from the platform’s earnings. A total of 100 million tokens are generated and 70 million will be sold during ICO, and 20 million will be frozen. To buy tokens, you can use quite a few different crypto-currencies, since the exchange will then become an exchange of various crypto-currencies. The minimum that is needed to launch the platform is $ 500,000, a maximum of $ 20 million.
On account of the distribution of tokens, we can say the following: 70 percent is allocated for sales during the ICO, 10 percent as a venture fund, the distribution of which will be made with the participation of platform investors, 10 percent is allocated to the development team, 5 percent is allocated for the bounty program, 5% for bonuses .
On account of the distribution of collected funds, we can say the following: 15% is allocated for the development of the platform as a business and its marketing, 20% for the development of the platform in technical terms, 30% for maximum security and protection on the platform, 30% for the addition of new tokens for trade on platform and 5 percent on the administration platform.
As for the distribution of the platform’s earnings: 80% will be paid as dividends to investors, 9% will be paid for platform administration, 6% for other costs and 5% for security.
At the expense of the plan and history of the project: in December 2015 the idea of creating a platform was born and the founders established their company, in September 2016 a team was assembled and in March 2017 a concept was developed. In August, the development of all technical issues of the stock exchange was initiated. In February 2018 WhitePaper was created and the Pre-ICO stage was launched. In March-April the pre-sales period and the main sales.
In May, platform tokens will be listed on the stock exchanges. In June, there will be early access to the platform and in July the first platform investors vote. In August 2018, data for the first exchanges will be added and in October the REST API will be integrated or, in other words, the platform will be fully launched. In January 2019, an application for mobile devices will be launched and in February 2019 – the first distribution of dividends.
In conclusion, I want to say that the creation of this kind of platform will attract to it many crypto-enthusiasts and newcomers of crypto-mir who want to take control over their actions and setting prices in their own hands. P2P exchanges will allow you to get rid of the many manipulations that are now being created by the exchanges, and also rid us of many barriers to entry and work thanks to the decentralized work of the exchange. For a more detailed introduction to the platform, you can read Whitepaper. We are waiting for the full launch of the project, good luck!