White Paper Version 0.2 January 29,2018 ABSTRACT

Transcription

1

2 White Paper Version 0.2 January 29,2018 ABSTRACT This document describes a platform that applies the Ethereum s blockchain technology and Smart Contracts to create a system of creation, exchange and promotion of digital assets: cryptocurrencies, tokens or commodities. A tool that offers a simple and intuitive user experience with the main objective of simplifying the creation of tokens and smart contracts. This way, it facilitates the adoption of the emerging blockchain technology in the fintech sector of companies, SMEs and producers of raw materials. 1. INTRODUCTION The Internet is experiencing a new technological revolution, a paradigm shift where the World Wide Web is evolving towards the World Wide Ledger. With the incorporation of distributed networks that use blockchain technology and its smart contracts, a new Internet of Value scenario is being created where finance flows freely. In this new universe, value management will be available to all and not only to a few. Thanks to this technology anyone can create digital values that can be negotiated, distributed and exchanged as a token or cryptocurrency. In the last 10 years, cryptocurrencies have become an innovative investment, since they are a mechanism of conservation of value and a method of payment at the same time. This favors the growth of new business models since it promotes innovation for any company or business where a value is exchanged. One clear advantage offered by the smart contracts is that they eliminate all the intermediaries that make the goods more expensive. Usually, the increase in the cost of goods tends to affect only small consumers, making them suffer the bad consequences of long chains of intermediaries. 2

3 The case of small agricultural producers or raw materials is an example of this, since they are subject to the power of large companies in the markets. These regulate the price of goods from large investment funds and intermediation platforms, maximizing profits for distributors and losses for producers, affecting in many cases the price and quality of products. Small and medium-sized companies do not have the possibility of attracting financial resources in regulatory frameworks that only benefit big companies. Accessing public sale offers or other financing measures is a long and expensive process. Often, they also provide no security to the investor, as they are often rigged or corrupted by regulatory entities. This always harms civil society, which ends up paying the financial industry's chaos. It is easy to see how most of the time, the centralization of power and the regulatory framework tailored for a few people, makes it impossible to access most of the citizens to the market. This prevents and hinders the growth of new industries and the generation of employment. This situation makes the wealthiest people get richer, negatively affecting the purchasing power of the rest of the population. We can see throughout recent history how the intermediaries in the market processes are destroying the markets in which they participate. 2. LESCOVEX Lescovex was created with the aim of establishing a more just, free and secure financial market. Lescovex is a real-time digital goods market that provides simple and effective access to create the financial products that a producer or a company needs. For this, the platform will offer a simple and intuitive environment that complies with current regulations in your region and puts your products directly in contact with the final buyer, allowing you to make purchases and sales at the real market price. Lescovex is a platform for the exchange and creation of digital assets. A tool that, through Ethereum's smart contracts technology, creates financial product and simplifies the process of tokenizing any good or digital asset. At the same time, the platform offers an online market where all kinds of digital goods can be exchanged: Cryptocurrencies, Tokens and Commodities. 3. TOKEN SHARES Lescovex offers an open and participatory way of investment, where all people can benefit from the profits produced by the project. Half of the benefits produced by the exchange rates or services of Lescovex will be sent to the smart contract for distribution where, only LCX holders who have not moved their tokens in 30 days, will be able to extract their profits. 4. THE CONTRACT The LCX contract is designed to guarantee the possibility of withdrawal of liquidity without the intermediation of third parties. At the same time, it guarantees the equitable benefit according to the amount of tokens that each investor owns. 3

4 Therefore, all LCX token investors are subject to the specified conditions of the smart contract, in addition to the standard of the Ethereum ERC20 model. 5. TOKEN DISTRIBUTION When an investor wants to make a contribution, he can do it through the "buy" function of the contract, or by sending ETH directly to the contract address. The smart contract will create LCX in proportion to the ether paid to the contract. The price will be relative to the price established in the same contract in each bonus phase, being the price without bonus 1 LCX = 0.01 ETH. The ICO will have different periods and the price of the token will increase as the end of the currency issuance period approaches. For every token that is generated when receiving a contribution from a crowdfunder, another LCX is issued and stored in the contract itself. These tokens will be used by Lescovex projectto finance of the project. 4

5 Distributed tokens in ICO: Token price: 1 LCX = 0.01 ETH Presale: LCX ICO: LCX The token issuance will have 6 periods whose bonus will decrease every 10 days: 25% - February 12 - PRE-SALE 20% - March 1 - ICO 15% - March 10 10% - March 20 05% - March 30 00% - April 9 No more than 10 million tokens will be generated in total. The transferbuy () and buy () function manage and limit the issuance of tokens by contract, the period of time available to buy tokens, the maximum amount of tokens that will be issued and the distribution to their owners. function transferbuy(address _to, uint256 _value) internal returns (bool) { require(_to!= address(0)); // SafeMath.sub will throw if there is not enough balance. totalsupply=totalsupply.add(_value*2); holded[_to]=block.number; balances[lescovexaddr] = balances[lescovexaddr].add(_value); balances[_to] = balances[_to].add(_value); Transfer(this, _to, _value); return true; As can be seen in the function, the contract stores the moment when the tokens are received; the contract will never allow you to withdraw benefits if the token has not been held for at least 1 month. This encourages investors to maintain their tokens to collect the profits generated, adding value to the token in the markets and guaranteeing a stable demand for LCX tokens at a solid price. function buy() public payable status{ require (totalsupply<= ); require(block.timestamp< ); 5

6 uint256 tokenamount = (msg.value / buyprice)*tokenunit ; // calculates the amount transferbuy(msg.sender, tokenamount); LescovexAddr.transfer(msg.value); Every time someone makes a purchase to the contract, it will check the price to adapt the issuance of tokens to the different bonus phases. These phases will be detected by the status () modifier, described below: modifier status() { _; // modified function code should go before prices update if(block.timestamp< ){ //until 1 march 2018 if(totalsupply< ){ buyprice= ; else{ buyprice= ; else if(block.timestamp< ){ // until 10 march 2018 buyprice= ; else if(block.timestamp< ){ //until 20 march 2018 buyprice= ; else if(block.timestamp< ){ //until 30 march 2018 buyprice= ; else if(block.timestamp< ){ //until 9 april 2018 buyprice= ; else{ buyprice= ; 6. COLLECT YOUR PROFITS Each month, Lescovex platform will deposit the corresponding ETH gains in the contract. These can be raised by investors if they have held the tokens for more than a month without moving them in their wallets. 6

7 When the platform deposits ETH in the contract for its distribution, it will calculate the reward amount for each token that the investor owns in this way: function deposit() public payable status returns(bool success) { // Check for overflows; assert (this.balance + msg.value >= this.balance); // Check for overflows tokenreward=this.balance/totalsupply; //executes event to reflect the changes LogDeposit(msg.sender, msg.value); return true; "tokenreward" shows the amount in ETH that corresponds to each token with the possibility of generating profits so, using the function withdrawreward (), the investor will be able to withdraw his profits by executing the function of the contract. function withdrawreward() public status { require (block.number - holded[msg.sender] > ); //1 month holded[msg.sender] = block.number; uint256 ethamount = tokenreward * balances[msg.sender]; //send eth to owner address msg.sender.transfer(ethamount); //executes event ro register the changes LogWithdrawal(msg.sender, ethamount); Each time an investor decides to extract their profits, this monthly account will be restarted making it impossible to withdraw more profits from the contract until the next month. The user needs execute this function each month to get his profits, else he lose the token reward fo this month distribution holded[msg.sender] = block.number; 7. TOKEN PRICE LCX token price will be settled by the activity in the markets once the tokens distribution has ended. Lescovex team will aim to add LCX token in all the main exchanges. 8. THE PLATFORM 8. 1 Registration: With the intention of adapting to the new regulations in each region of the planet, Lescovex outsources the KYC service to experts to ensure compliance with all policies for the prevention of money laundering and terrorist financing. 7

8 All with the objective that no user can make an improper use of the technology financing or carrying out illegal activities. That s why we have a strict privacy and identification policy for our users. We store all the information in an encrypted form with the maximum guarantee that your data will only be used for compliance with current regulations and will not be transferred to third parties at any time, and no one will have information regarding the status of your accounts or balance sheets. The KYC process is limited to the investigation of each of our users regarding their previous business activities and their relationships with executives or companies that may be related to activities declared illegal. To do so, all the documentation sent by our customers will be reviewed and contrasted with official and private lists to guarantee our users that any buyer or seller in our platform doesn t collaborate or participate in any illegal activity Trading Tools: - Buy & Sell orders - Trading views - Balances Administration -Cash in and cash out sercvices -Complete tradding reports Fiat currencies: Thanks to our partnership with KANTOX.COM, we have more than 10 fiat currencies in our market. This makes us the cryptocurrency platform with the largest variety of fiat currencies that exists today Issuance of contracts: Our platform has a system for issuing digital goods based on Ethereum technology, so that any person who produces goods or wants to tokenize any type of good has a simple tool to issue their smart contracts and include them directly in our markets. For this purpose, it is being developed a Digital Assets Launcher (DAL) tool for the creation and issuance of contracts. This allows to issue tokens to the markets, manage the options of its contract and use its smart contract directly from our platform Main models of assets & smart contracts: Investment Funds - Participate in investment funds through state-of-the-art Smart Contracts. Cryptocurrency - Easily create a cryptocurrency for use in projects, companies or specific markets. Crowdfunding and Equity Crowdfunding - Multiple models of contracts where to design a collective financing of an idea or project. Share Capital - Design governance contracts to distribute dividends among partners or employees transparently. 8

9 Futures of raw materials - Participate in the market of raw materials and futures using various smart contracts BUSINESS MODELS For each trade, the exchange applies only a small 0.15% fee to the users that participate in the transaction. Each time a new asset is added to the exchange, the platform charges a fee for the issuance of the digital good in the markets. The platform will have a sponsorship program with different paid advertising spaces for those customers who request the service in our highlighted spaces in the tokens' portfolios. Lescovex presents a near future where any value can be digitized and traded in a simple and intuitive exchange. This scenario has the potential to reach a huge audience that has not yet become familiar with blockchain technology and even less with the creation of its first digital token. Project website link: Lescovex.com Main repository link: Authors of this document: Lescovex team, Vicent Nos, David Proto 9