[ANN] LibreCash – stablecoin with transparent proof-of-reserve backing - page 5.

semiwylson

member

Activity: 406

Merit: 10

Quote from: johnywalkerrr on May 22, 2018, 12:47:41 AM

Any plan to implement DEX exchnage? It would give more liquidity to the token and mass adoption as all the trades will be against LibreCash.
Moreover that fact u will use atomic swaps will make your DEX the most advanced one.

DEX is the not the priority for the team. Firstly team has to implement the DAO in a spotless way. As for getting liquidity and adoption it fully depends on the marketing and relations ( listings) on major exchanges.
Nevertheless I like the idea of DEX. Probably it will be inculeded in the roadmap when all the tasks as for now would be completed.

johnywalkerrr

member

Activity: 406

Merit: 11

Any plan to implement DEX exchnage? It would give more liquidity to the token and mass adoption as all the trades will be against LibreCash.
Moreover that fact u will use atomic swaps will make your DEX the most advanced one.

antropogen0009

member

Activity: 406

Merit: 11

Quote from: ricardovaldossa on May 21, 2018, 04:09:14 AM

Do u have any plans of debit card implementation in the future? Similar to the Monaco or tenX projects but your card will operate only with LibreCash tokens. It would be reallu killing feature and boost the token popularity and adoption as the problem of cashing out funds from crypto is so urgent now for a lot of users.

Idea itself is brillian BUT it is very complex task that requires prpject to be run under strict regulation. Moreover it requires strong partnerships with one of the popular banks but u know they are very conservative in the way of dealing with crypto start ups.
Summing up, even if it is possible it is very and very long run task.

ricardovaldossa

member

Activity: 406

Merit: 10

Do u have any plans of debit card implementation in the future? Similar to the Monaco or tenX projects but your card will operate only with LibreCash tokens. It would be reallu killing feature and boost the token popularity and adoption as the problem of cashing out funds from crypto is so urgent now for a lot of users.

DIXItip4ik

member

Activity: 406

Merit: 29

Quote from: kabackovas on May 21, 2018, 02:31:24 AM

Who will pay for the fees? Lets say Im sending tokens back to the smart contracts and getting ETH or BTC or smth else in exchnage but then my tokens has to be burned and fees must be paid in the basic currency of the particular blockchain. So LibreBank will pay for that fees or what?

I have not thoughth about that earlier but know it seems very imortant question. As if there is huge demand LibreBank would spend for fees per each transaction enormous sums. How team is going to handle that problem?
Or probably fees will be paid by users?
I really hope for the explanation form the team ASAP!

kabackovas

newbie

Activity: 252

Merit: 0

Who will pay for the fees? Lets say Im sending tokens back to the smart contracts and getting ETH or BTC or smth else in exchnage but then my tokens has to be burned and fees must be paid in the basic currency of the particular blockchain. So LibreBank will pay for that fees or what?

Boooogieeee

jr. member

Activity: 308

Merit: 1

How will u choose the fields or start ups where will u invest the money from the reserve fund? Dont u think it is very risky deal that may cause the liquidity crisis if your choice was wrong? U may loose he reserve fund and LibreBank itseld will be broke.

selskoidima

newbie

Activity: 308

Merit: 0

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?

Nskaolimpiyskiy

newbie

Activity: 252

Merit: 0

Why is is stated in your Light Paper that token will be tied to power purchasing unit in 2020? Why not to be tied to USD forever? Whats the difference between these things at all? Could someone explain me? Thank u in advance.

ApehaFan777

full member

Activity: 490

Merit: 100

Quote from: semiwylson on May 20, 2018, 05:51:43 AM

Have u consdidered the opporunity of using side chains instead of atomic swap tech? I guess it is a little bit simpler, moreover there are several projects on the market providing advanced side chains.
Whats the benefits of using exactly atomic swaps??

If side chains are used it means that the reserve fund will be allocated within only one ecosystem. U know it is unsecure. Secondly, all the projects with side chains (Ardor, Lisk, Ark) are not really popular coins, they are just ordinar alts and can not be used as a reserve for LibreCash token. The last but not the list all of the coins I have mentioned dont have smart contracts thats why DAo implementation is also impossible.

semiwylson

member

Activity: 406

Merit: 10

Have u consdidered the opporunity of using side chains instead of atomic swap tech? I guess it is a little bit simpler, moreover there are several projects on the market providing advanced side chains.
Whats the benefits of using exactly atomic swaps??

johnywalkerrr

member

Activity: 406

Merit: 11

Is the LBRS token share actually? or it is just the token that means u have the rights for some part of the reserve fund?
Is it possible LBRS to be traded on stock exchanges?
By the way in what jurisdiction u will operate? Where company that will issue tokens is registered?

all_inman

member

Activity: 406

Merit: 10

Quote from: karlos_545 on May 20, 2018, 02:10:10 AM

Is it possible in future to introduce to index or the futures for the LibreCash token? Like it is done for USD, EUR and other fiat currencies.
And one more question, how much funds that u would collected in the upcoming crowdsale u will allocate for the reserve fund?? Or all the funds will be alocated only for the development?

It is too early to speak about indexes for LibreCash, it has not event came into the market.
As for the second question, i think 50% or smth like that will be allocated for the reserve fund for the purpose of providing liquidity. It is kinda obvious I think because at the first stages liquidity it is the responsibility of the team

Ridorie

full member

Activity: 322

Merit: 100

All the same I consider that in the future the project and the command will make success in the sphere. It is visible from outside that work nevertheless is conducted and it cannot leave just like that. Soon all work after all will affect the coin price.

karlos_545

member

Activity: 406

Merit: 10

Is it possible in future to introduce to index or the futures for the LibreCash token? Like it is done for USD, EUR and other fiat currencies.
And one more question, how much funds that u would collected in the upcoming crowdsale u will allocate for the reserve fund?? Or all the funds will be alocated only for the development?

surtur001s

member

Activity: 406

Merit: 22

Quote from: antropogen0009 on May 19, 2018, 11:50:04 PM

How are u going to hedge the risks of lacking the liquidity? Due to what the situation when u will have no money in reserve fund may happen?
Im curious if u are alrady familiar with all such occasions and did everything that is neded to prevent that.

The reserve fund will be stored within different blockchains. Such difersification is one of the ways of hedging the risks. Team is also lanning to use the escrows they to store some part of the reserve fund. It may be top exchnages.
Also team may use the limitation for token emission or remission. All these things are the ways how to prevent the liquidity crisis.

antropogen0009

member

Activity: 406

Merit: 11

How are u going to hedge the risks of lacking the liquidity? Due to what the situation when u will have no money in reserve fund may happen?
Im curious if u are alrady familiar with all such occasions and did everything that is neded to prevent that.

DIXItip4ik

member

Activity: 406

Merit: 29

Is it security token or utility one? Where all the profit from the team investments will go? Will it be distributed in the way of devidents or what?
And one more, what about taxes? If Im owning big amount of shares and LibreCash cap has grown a lot will I have to pay the taxes? U know u have not an ordinar token thats why I think better to clarify this moment in advance.

kabackovas

newbie

Activity: 252

Merit: 0

Quote from: Boooogieeee on May 19, 2018, 04:39:59 AM

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.
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

Boooogieeee

jr. member

Activity: 308

Merit: 1

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

Topic: [ANN] LibreCash – stablecoin with transparent proof-of-reserve backing - page 5. (Read 1570 times)