Topic: [ANN] LIFE - Lightweight Intermediaries For Exchange by PinkExc - page 2. (Read 4282 times)

Why LIFE @Pinkexc Token Swap trying to do ...

Quotes from https://blockgeeks.com/author/ameerrosic -

Currently in the ICO space there are 3 major PROBLEMS

#1. No product fit. 99% of theses ideas dont solve any real problems in the marketplace

#2. Me as an investor in an ICO what do I really get? At the moment nothing but a manipulated token that can and will die

#3. The most important as you pointed out is… Education. This is the BIGGIE! The giant elephant in the room. We need to educate more people for the new economies we want to build. From entrepreneurs to investors and the rest.

Hi, on behalf the development team, I would glad to answer your questions; I've divided up the questions and answers for easier explanation.

Qi) ... what benefits is life token to ordinary life token holder?
Ai) To ordinary life token holder the benefits will be as follows;

A. DISCOUNTS -
(i) Discount on platform Pinkexc usage, i.e. on trading transaction and withdrawal of LIFE from Pinkexc Online trading platform. The table and comparison for discounts given will be made available when Pinkexc new online trading platform went live on 1st October 2017.
(ii) Token holders will also enjoy a discount on buy and sell transaction when made on the ATMs.
(iii) Discount will also be applicable on merchants purchases when Pinkexc partnering merchants and retailers are recruited and on-board.

B. TRADE - Life token is tradable. LIFE token will be made transferable and tradable on Pinkexc Trading platform. It is targeted within the first 3 months of post Token Swap to be made available on 4 other exchanges and at least one of the those 4 to be a major exchange.

C. PROFIT SHARING -
(i) For holders with more than 10,000 LIFE, kept in a wallet for more than one-year, 25% of Pinkexc net profit will be disburse to them via a profit sharing pool. Payout will be made using LIFE token or when circumstances warranted in fiat as a bonus.
(ii) For holders with more than 100,000 LIFE token kept in a wallet for more than one-year, an additional 15% of Pinkexc net profit will be disburse to them via a profit sharing pool. Terms of payout will same as above.
D. BUY BACK PROGRAM
Pinkexc will allocate 20% of its annual net profit to purchase back LIFE token from the open market and sent to an address for burning. The burned address will be available for public audit and this will be done annually until only 50% of LIFE token left in the circulation.

Qii) Why would you hold LIFE token.
Aii) The benefits of holding are listed above, and for the intrinsic and economic reasons in hold LIFE are as follows;

A. SOCIAL IMPACT -
There are a lot of crypto currencies came out and made claim to this, but at the end it just became another tool for speculation; with the technology or product being underutilized and never reach public adaptation. Pinkexc aims to make crypto currency serve the current practical needs so that acceptance to other solutions that blockchain got to offer in the future will be well received, not just by blockchain enthusiast but also the general public.

B. VALUE BUILD UP
Via having a practical usage platform; through the exchanger, ATMs and merchants, LIFE will have natural build up in value which is based on demand. not based on manipulation or speculation. Pinkexc hope for LIFE to be a healthier crypto currency alternative, where users can hope for a moderate gain from the asset rises in value and also at the same time have an asset with the currency like ability in terms of liquidity and immediacy of spending (divisible and ability to spend in small quantity without trading the whole value).

C. CONFIDENCE IN DELIVERY
Pinkexc has been in operation for over one year now, and during this period we also been doing development and fine tuning in the technology and its delivery to market. We have people from business and management consultancy on-board to complement the developers in ensuring the business side of things are in order. We also have garnered trust and confidence from our technology partners through the associations developed for the past years.

D. SOUTH EAST ASIA MARKET POTENTIAL AND DIVERSITY
The backlash faced from Chinese authorities on the usage and adaptation made South East Asia a much more viable option for crypto currency adaptation and blockchain propagation; with more than 600 million people, 70% are unbanked and 11 countries in this region, the opportunity are abundance and risks are spread out much better with not having one central authority throwing its weight around with bans and restrictions. South East Asian government are more progressive in its attitude towards blockchain based technology as can be seen displayed by the government of Singapore, Malaysia, Indonesia, Vietnam and The Philippines

E. DEVELOPERS COMMUNITY
Pinkexc has allocated a certain percentage of LIFE Token issuance and in the future a certain net profit to LIFE Foundation, to support the development of community based decentralized applications. We are looking to fund developers to work on the development of alternative solutions to currently available financial solutions like insurance, business funding, community investment and remittance. LIFE foundation also acts as the LIFE community of token holders’ charity arm with members have rights to vote to where the annual charity to be made out to.

Qiii) ...  opening price to be $0.25 is just an assumption or some fact?
Aiii) The opening price of $0.25 is a fact. Pinkexc take that as our commitment to investors to have LIFE be listed at that value when it went for listing on its first exchange. The value is derived from our funding target, and also through LIFE Token being subscribed. As much as possible Pinkexc aims to make LIFE a stable asset in fulfilling its intended use and having an assets with some value retention. Pinkexc has set aside 10% of the funds received from the Token Swap as a reserve and for Balance Sheet purposes to be able to have some control on the fluctuation which might impact holders. In allowing free fluctuation, Pinkexc will let the market dictate the price of LIFE after listing, but will intervene using available market control if interest of investors is at a jeopardy. At the start, Pinkexc is looking into having a policy to limit only up to 30% spread of market price fluctuation over a period before any intervention.

@op i understand that life token is all about bringing awareness to the majority of people particularly from Asia who have less knowledge about blockchain and its ecosystem, so of what benefit is life token to an ordinary life token holder? why would i hold life token? Is there any real life usage? and opening price to be $0.25 is just an assumption or some fact? Thanks

A Malaysian exchanger Pinkexc, has recently announced a crowdfunding initiatives to build a network of 100 Bitcoin and other Cryptos all over Southeast Asia. Pinkexc which has been in operation since July last year operates an online exchange converting bitcoin to fiat and since October 2016 has been operating the first two way bitcoin to fiat ATM in Malaysia.
Currently Pinkexc have two ATMs operating 12 hours per day in Ipoh, Perak and in Hochi Minh Cty, Vietnam. Apart from operating these machine, Pinkexc has been running test and development to accomodate other cryptos for the machine.
In the proposal for crowdfunding, Pinkexc aim of having all 100 ATMs to be up and running by year 2020 and coverage will include all major cities in Southeast Asia, major tourist destination and also regions where most exported labour came from.
So far about USD 2.5 million has been collected from private investors, translating to about 10% of LIFE Token subscribed from the total issuance of 166 million LIFE token. LIFE Token, which runs on Ethereum Blockchain are going for it's Pre Sale period. For mor infos, please checkthe ico page at http://www.pinkexc.com/life.html

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I joined the telegram
but unfortunately I can not discuss there
maybe you can open teleram chat

Hi kevin! Stay tuned, it is coming very soon 😉

I am looking forward for the bounty of this one.