What will u do with unsold tokens? According to your idea tokens has to be stable. So Im curious what way will u choose to maintain the price stable
Im not sure but I think all unsold tokens will be burned.It is the common practice nowdays that allow to decrease the supply
Topic: [ANN] LibreCash – stablecoin with transparent proof-of-reserve backing - page 4. (Read 1581 times)
May 29, 2018, 03:15:25 AM
May 29, 2018, 02:07:36 AM
What will u do with unsold tokens? According to your idea tokens has to be stable. So Im curious what way will u choose to maintain the price stable
Im not sure but I think all unsold tokens will be burned.It is the common practice nowdays that allow to decrease the supply May 29, 2018, 01:19:56 AM
What will u do with unsold tokens? According to your idea tokens has to be stable. So Im curious what way will u choose to maintain the price stable
Im not sure but I think all unsold tokens will be burned.It is the common practice nowdays that allow to decrease the supply May 29, 2018, 12:02:50 AM
What are the methods of payment here? May I contribute with Fiat? PayPak or wire transfer are preferable.
As far as I know no. You may invest only crypto. Accepting fiat requires a lot of documents and partnerships with some bank.It is very long process 
May 28, 2018, 11:10:46 PM
What are the methods of payment here? May I contribute with Fiat? PayPak or wire transfer are preferable.
May 28, 2018, 04:03:18 PM
How does the election of the managment team work? There are plenty of LBRS share holders and how exactly some of them will be chosen as one of the manager?
Moreover how many members may be in the management team at all and for how lonf they are being chosen?
There will be a trasperent voting. As it is the DAO so all the share holders will have a right to vote for some particular share holders. It is like choosing the delegates in Lisk or ARK.Moreover how many members may be in the management team at all and for how lonf they are being chosen?
And then according to the results of that vote the managment team will be chosen
Moreover how many shares I have to own to be eligable to participate in the voting process? Or anyone may take part? Quite important question I think
The only question I dont know how many percentage of votes are needed to be chosen into that team. I think there will be no exact number of users that have to vote for some particular person, it has to be in %.
May 28, 2018, 03:21:43 PM
How does the election of the managment team work? There are plenty of LBRS share holders and how exactly some of them will be chosen as one of the manager?
Moreover how many members may be in the management team at all and for how lonf they are being chosen?
There will be a trasperent voting. As it is the DAO so all the share holders will have a right to vote for some particular share holders. It is like choosing the delegates in Lisk or ARK.Moreover how many members may be in the management team at all and for how lonf they are being chosen?
And then according to the results of that vote the managment team will be chosen
Moreover how many shares I have to own to be eligable to participate in the voting process? Or anyone may take part? Quite important question I think
May 28, 2018, 03:16:26 PM
How does the election of the managment team work? There are plenty of LBRS share holders and how exactly some of them will be chosen as one of the manager?
Moreover how many members may be in the management team at all and for how lonf they are being chosen?
There will be a trasperent voting. As it is the DAO so all the share holders will have a right to vote for some particular share holders. It is like choosing the delegates in Lisk or ARK.Moreover how many members may be in the management team at all and for how lonf they are being chosen?
And then according to the results of that vote the managment team will be chosen
May 28, 2018, 12:17:51 PM
May 28, 2018, 12:01:59 PM
May 28, 2018, 11:42:44 AM
May 28, 2018, 11:25:28 AM
May 28, 2018, 11:21:08 AM
May 25, 2018, 12:26:40 PM
where is all the records of operations will be stored?
I mean u will have different smart contracts with different coins in reserve fund and all the transactions, all the data will be scattered.
Probably u have any plan how to unite all that data and info about transaction within only one blockchain? Or at least just in centralized mode somewhere at the dedicated server?
On current version of the contract, logging is implemented on the basis of the events mechanism, accordingly all emission and remission operations, exchange, request and update of the course are logged in the contract.I mean u will have different smart contracts with different coins in reserve fund and all the transactions, all the data will be scattered.
Probably u have any plan how to unite all that data and info about transaction within only one blockchain? Or at least just in centralized mode somewhere at the dedicated server?
The current version of dApp's shows full information about the current status of the contract, its parameters, the percentage of collateral and total emissions. This mechanism is decentralized and allows verification
In the future, when you add a token to other platforms, the corresponding accounting functionality will be quickly added to dApp, thereby ensuring the transparency of the system
May 25, 2018, 12:20:31 PM
Whats about anonymity? How can I ensure that all my transaction data is secure and wont go to 3rd party companies or persons?
Im also curious whats about the KYC verification? Is it needed? Otherwise it provides big opportunities for laundering of money. U know it is quite urgent question and a lot of countries would create the obstacles for the project development if u wont follow all the measures against laundering of money
All the data will be stored directly in blockchain and wont go anywhere else. Moreover LibreCash will use atomic swaps tech that makes tracking the your financial operations impossible as no one knows what blockchain u would like to use.Im also curious whats about the KYC verification? Is it needed? Otherwise it provides big opportunities for laundering of money. U know it is quite urgent question and a lot of countries would create the obstacles for the project development if u wont follow all the measures against laundering of money
As for the KYC I would also like to know the answer as it seems it has to be implemented for sure if project gonna be adopted worldwide.
Hope for the answer from the team
May 25, 2018, 11:27:45 AM
How are u going to use tha reserve fund? They will be just stored or u gonna invest it in some start ups or tech that in future will be able to get the revenue for the LibreBank and increase the market cap overall?
Making it short, do u have any plans of investing your capital ( reserve fund u will obtain) into the commecrial start ups? Thanks in advance for tha answer
Yes, it is a plan. At least as far as I know.Making it short, do u have any plans of investing your capital ( reserve fund u will obtain) into the commecrial start ups? Thanks in advance for tha answer
Reserve fund will be used for the investments in different start ups or project for the purpose of total market cap increasing.
This process, i mean decesions about any investments will be made using the DAO govermance model. So only shareholders will be able to vote for any particular decesion about investment.
May 25, 2018, 11:23:03 AM
How are u going to use tha reserve fund? They will be just stored or u gonna invest it in some start ups or tech that in future will be able to get the revenue for the LibreBank and increase the market cap overall?
Making it short, do u have any plans of investing your capital ( reserve fund u will obtain) into the commecrial start ups? Thanks in advance for tha answer
Here is can be misunderstanding with terms, but at the moment we use the terms "reserve fund" and "investment fund".Making it short, do u have any plans of investing your capital ( reserve fund u will obtain) into the commecrial start ups? Thanks in advance for tha answer
The reserve fund contains backing of emitted LibreCash and additional funds for the LibreCash rate stabilisation (in case the ETH price will drop). This funds can't be used for anything, because it's backing.
The investment fund will contain LibreBank's surplus and income. These funds can be used for investing, including investing into commercial startups.
May 25, 2018, 09:47:10 AM
at what stage of the development are u now? I would like to try out or at least take a look at the product u have as for now.
Here is what we have now:
- The LibreCash token.
- A smart contract for the purchase and sale of LibreCash for ETH.
- A web wallet.
- A DApp that provides access to information on funds in the LibreBank balance, the number of emitted tokens, and the current exchange parameters and informs users about key project events.
- The oracle system for loading data about the current exchange rates.
- The prototype of a smart contract for the purchase and sale of LibreCash for ETH, with the possibility of emission and liquidation.
- The prototype of the DAO smart contract for managing the parameters of an independent emission smart contract based on the standard contract of DAO Ethereum. The influence of a user’s vote is determined by the user’s balance in the LBRS. The role of an elected arbitrator who can veto the outcome of any voting is implemented.
- The prototype of a DApp for the smart contract of the DAO, with the ability to post offers that allow voting.
Look at the section "What has already been developed?" above in the first message of this topic for more details. You'll find some links, additional explanations and source code.
If you have questions, don't hesitate to contact us.
When the final DAO implementation is planned?
At the moment we don't have exact date of the final DAO implementation, there are a lot of work should be done for this. It's very important don't rush with final implementation the DAO before tons of public tests of it. We should remember experience of the first DAO.We're going to publish some details about it in the roadmap.
And one more, u said that for any transaction from the reserve fund the share holders consensys is needed BUT how much share holders can exist? I mean those one that will have a right to vote?
There aren't any restrictions for quantity of shareholders. We're still working on it, but here is the preliminary management model of DAO. It will include:- shareholders, who have LBRS-tokens and ability to vote;
- delegates, who represent the shareholders interests;
- board of directors, which will include current delegates;
- the constitution of the DAO, the document with main principles of the organisation;
- constitution guarantors - a few persons or/and organisations, which will control the decisions comply the constitution.
Every shareholder is able (by voting):
- to elect a delegate, who will represent his interests;
- to try become a delegate;
- to elect a guarantors.
The board of directors is able (by voting):
- to change the constitution;
- to elect guarantors, who will keep a part of reserve fund for diversification;
- to elect contractors for software development, marketing, business development, etc;
- to change some economic parameters of LibreCash emission and liquidation;
- to invest DAO's surplus and incomings.
The constitution guarantors are able (also by voting) to veto any decision, made by the board of directors.
And once again - this is the draft of the management model.
May 23, 2018, 08:50:09 AM
I think this will depend mainly on investors...
So it is difficult to say the exact amount, correct me if not so
I think this will depend mainly on investors...So it is difficult to say the exact amount, correct me if not so
So it is difficult to say the exact amount, correct me if not so
May 22, 2018, 02:19:36 AM
Im so aware about listings. LBRS will be security token thus it wont be listed on exchnages. Only LibreCash has a chance.
Im also curios how much ETh will u deposit to the autonomus smart contract as a reserve fund after project launch??
Im also curios how much ETh will u deposit to the autonomus smart contract as a reserve fund after project launch??
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