Thanks, dev, for agreeing via PM to answer a few questions. Hopefully we will form a FAQ from this.
1. Coin quantity
The hold-to-unlock feature has been successful in building and keeping value for several altcoins so far. But it seems like your total eventual supply of 26,000 is hardly going to achieve widespread distribution amongst lots of staking wallets if you have a few "patrons". Like, you can only have 5 maximum claimants on the funds... or 16 max people with the right to extra leverage...
You need some distributed network security for your coin but this goal is kind of at odds with the high tiers you've set for your hold-to-unlock bonuses. How are you going to address this? What kind of breakdown are you looking to have amongst holders by setting those tiers the way you did? Like, one 5k holder, two or three 3k holders, 4 or 5 1500 holders, and then the other ~40% of the total LVG held by as wide as possible a distribution?
2. Roadmap
Can you please give us an overview of what work you've done on your leverage platform so far, and what's yet to come? (Basically a roadmap)
3. Dev team
Can you please speak to the skillset of the members of the dev team so we have an idea of your capabilities to make this happen?
4. 3k LVG for 20% reimbursement on "bad trades"
I suggest you remove this feature. Anyone with multiple anonymous accounts each holding 3k LVG can game this system by having each account take the opposite side of a "losing" wash trade on any given altcoin you support, and collect that 20% reimbursement as a bonus. I think the burden of analysis placed on you, to make sure people aren't gaming the system in this way, isn't going to be worth it. Let alone the larger-scale idea of 100% personal responsibility for one's trades. Thoughts?
these are some good questions so ill get right to answering them,
our main goal is the lvg platform and the coin although important, isnt the main goal. It gives us the chance to involve the community and raise some more funds for the pool of funds used to alllow people to trade on the platform. It also gives us something to work with once the platform is in good shape.
the hope is that each coin will be fairly high value and will work in decimals similar to btc. the features for holding are something we couldnt offer everyone which is why its been made pretty exclusive. If the platform grows we can could perhaps make some sort of fork to make more coins to allow more people the option if they wish.
The platform is about 75% complete, we have the all the basic functions covered, we need to still select initial coins to be listed and sync up the wallets for them, improve the GUI and also do security testing
The development team has 4 people in it, I'm more the visionary and project leader. I had the idea when i was approached by someone on the forum who works at a stockbroker in the us. He had heard about bitcoin and had begun looking at altcoins and was looking for some guidance. I showed him the ropes and we began trading together. He made a comment about the fact that most coins rarely move and its hard to profit on them often and thats when i came up with the idea for the lvg platofrm. The other two members are a web developer and coin developer that i knew prior and agreed to help out in developing the platform. the project is primarily funded by myself and my trading partner.
thats a good point about the "20% off bad trades" again the coin supply is limited so it might be hard for people to obtain enough to carry it out and we were hoping to implement some sort of mobile verification with this to prevent anyone trying to scam. However if people are unhappy about that feature we can remove it, hope this has given you a bit mre of an insight to lvg
