2local Solutions and Goals for a Better World
2local is happy to contribute to the growth of a better world, with the sustainable development goals of the UN as its guideline. We strive for thriving communities, societal growth that includes everyone, a sustainable world without malfunctioning of the monetary and economic system and prosperity for everyone worldwide. The forthcoming IEO will serve as a step to achieving these goals.
L2L Token
We want to do this by creating our own sustainable token, a digital currency attached to the blockchain technology. This sustainability-focused cryptocurrency, the L2L token, maintains a stable yet rising exchange rate, by using the buffer between tokens and USD. This means the token can be a stable payment method.
Cashback System
2local invented a unique cashback system. Tokens are rewarded to people who support local and sustainable companies by buying their services and goods with L2L tokens. A small fee from each transaction gets collected and divided amongst those buying locally and sustainably. By applying a maximum per person to this cashback, we want to make sure that the most needy get the most.
Revenue
2local buys the L2L token from the official exchanges one month before providing it in the app. This will generate revenue for operations and the cash-back system. The cashback graph shows the revenue for operations.
Algorithm-backed Token
Through the sale of L2L tokens, proceeds become available and are stored in a deposit foundation. 2local keeps a reserve of L2L tokens and fiat money to keep the price of L2L steadly climbing. An algorithm monitors the price of L2L. Basically, it will sell L2L when the price rises too much and will buy L2L when the price falls.
Cashback
We want to use this coin to promote cooperation between sustainable producers and customers. We do this by offering a cashback system, where consumers are rewarded if they buy from affiliated local and sustainable companies. We want to create a network between consumers and companies, who are committed to the sustainable 2local ideology. From every transaction with L2L tokens (purchases and exchanges), a small fee percentage is withheld by the 2local system. We use these L2Ltokens with the value rise of the L2L tokens to promote cooperation between sustainable producers and consumers. We do this by offering cashback, by which consumers are rewarded if they buy local and sustainable products from connected companies.
The amount of cashback that a buyer receives each month increases more than proportionately with his purchases until a certain amount of purchases per month is reached. People spending more than this amount of purchases receives the same fixed amount of cashback. This fixed (maximum)amount of cashback is calculated as the cashback fee times the average purchases per wallet. The purchases from which people receive no more than this maximum amount of cashback (tipping point) is flexible. For the time being, it will be set at the value of two times the average purchases per wallet.
Connected Companies
2local wants to contribute to a sustainable world. The sustainable development goals of the UN serve as a guideline. 2local endorses all objectives but mainly wants to contribute to a world without poverty and hunger and with good health and well-being. Clean water, sanitation, and affordable and sustainable energy are indispensable. It is about reducing inequality with responsible consumption and production (no unnecessary transports).
2local is committed to innovation and sustainable business with care for the environment and climate, fair work, and economic growth. With this, 2local wants to contribute to a new global partnership necessary to achieve the UN objectives. In addition, action is needed by everyone! Companies that can prove that they produce locally and sustainably can get a 2local note in their wallet. This allows people who buy from them to receive L2L tokens that can be exchanged for coins up to a certain maximum (once a month). To be eligible for a 2local note, companies can register at https://2local.io and complete a questionnaire. For example, these can be companies affiliated with organizations that possess sustainability characteristics or that produce regional products. The 2local team decides which organizations will receive notes. Once issued, a note can be withdrawn.
