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.
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.
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.
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.
A key catalyst to user disenchantment of many cryptocurrency exchanges has been the lack of active community engagement. To ensure LocalCoinSwap users are fully aware of all important changes or news regarding the platform, regular contact will be disseminated through frontpage updates and announcements from the operations team. Additionally, LocalCoinSwap will engage with the trading community through its public Telegram groups, Slack channel, social media accounts, and integrated forum.
A full-time dedicated security team has been enlisted to safeguard all vulnerable information at all times. 95% of cryptocurrency deposits will be stored in offline wallets to minimise potential loss due to hacking. Regular security audits by penetration specialists have been scheduled to ensure the security system is fully up to date. In addition, third party monitoring systems have been implemented for all servers with automatic shutdown mechanisms in cases of detected intrusion.