LocalCoinSwap-A decentralised crypto marketplace, owned by the community

LocalCoinSwap (LCS) is a decentralised marketplace which allows buyers and sellers to trade directly in any cryptocurrency using any method of payment. LocalCoinSwap provides a safe, uncomplicated and fast peer-to-peer (P2P) trading platform, allowing users to freely exchange without unnecessary verification requirements or waiting times.

The platform utilises a secure escrow system that solves the inherent trust issues of online P2P trading.LocalCoinSwap is holding a crowdsale event of LCS Cryptoshares. Cryptoshares are a digital asset which will be used to facilitate distribution of all profits made by the LocalCoinSwap platform, in addition to all profits made by new business ventures under the LocalCoinSwap umbrella. Cryptoshare holders will additionally receive airdrops of new ICO tokens listed on the LocalCoinSwap platform.

The platform implements a novel approach to traditional company ownership by utilising
blockchain technology to distribute the entirety of the site's profits to holders of LCS
Cryptoshares. This asset entitles investors to regular dividend payments denominated in all of the currencies traded on the platform. Holders of the Cryptoshare may also participate in the long run vision and decision making of the company itself through democratic voting in a proofof-stake system. This replicates the dividend payments and shareholder voting of traditional companies, with the added benefits of blockchain technology and decentralisation.

LocalCoinSwap Cryptoshares

LocalCoinSwap Cryptoshares
Cryptoshare overview LCS Cryptoshares are not like traditional ICO tokens. Instead of a vague promise of possible future returns or idealistic visions which may never eventuate into product, Cryptoshares entitle the holders to guaranteed rights to 100% of the total profits from the Localcoinswap exchange through cryptocurrency dividends.
Cryptocurrency profits are paid to shareholders in the same cryptocurrencies in which they are made, allowing the investor to receive a regular stream of portfolio income. By holding a single Cryptoshare asset, the investor is entitled to a wide variety of cryptocurrency profits across the entire spectrum of the digital economy.
Cryptoshare holders are also entitled to receive airdrops of new tokens when ICO's are listed on the LocalCoinSwap platform.
In addition, LCS Cryptoshares entitle the holder to voting rights in the platform's decisionmaking process, such as the listing of new tokens on the exchange, the direction of new business ventures and design considerations or functionalities for the platform. Cryptoshares in LocalCoinSwap are more than just a stream of dividends, by investing you become an integral part of the future of the exchange itself.

Cryptoshare ICO Issuance

Allocation breakdown
100,000,000: Total supply of Cryptoshares which are minted in advance of presale. The contract for the Cryptoshare locks this limit as unchangeable so no more Cryptoshares can ever be created. This limit was chosen to give higher possible future values to individual Cryptoshares. This contract is open source and publically available on the LocalCoinSwap Github repository.
70,000,000: Maximum issuance of the Cryptoshares through the pre-ICO, presale and ICO period. At the end of the crowdsale period all unsold Cryptoshares from this portion of the issuance are destroyed to increase the value of remaining Cryptoshares.
10,000,000: Reserved for special community venture fund. These Cryptoshares and associated dividends are frozen for 1 year. After the end of the freeze LCS Cryptoshare holders may vote on the use of these funds and dividends for the purposes of developing the company. Staff members are ineligible from voting on the use of these funds. This fund provides incentive for holders of Cryptoshares to participate in the community aspect of the platform..
10,000,000: Reserved for equal share between the core development team. These Cryptoshares are frozen for 1 year to incentivise staff to grow their value.
5,000,000: Allocated to security reward program. This will increase the security of the platform by incentivising malicious actors to report any exploits found rather than taking advantage of them.
5,000,000: Reserved for the bounty program. This program will assist with the promotion and marketing of the platform users. These bounties will be paid out for services such as translation, content creation and brand development.
Crowdsale bonus structure
The presale period will run with a bonus allocation of 40%. The presale will be closed immediately if 10,000,000 Cryptoshares are distributed. During the crowdsale period funding milestones have been set at each $5,000,000 increment.
As each increment is reached all existing purchasers of the crowdsale event receive an additional 5% airdrop of Cryptoshares to be distributed once the crowdsale closes. These airdrops are also distributed to presale purchasers, but not to Cryptoshares held by the development team, security/bounty fund & new venture fund.
$5,000,000 of funding reached: All existing Cryptoshare crowdsale investors receive 5% additional Cryptoshares.
$10,000,000 of funding reached: All existing Cryptoshare crowdsale investors receive 5% additional Cryptoshares.
$15,000,000 of funding reached: All existing Cryptoshare crowdsale investors receive 5% additional Cryptoshares.
$20,000,000 of funding reached: All existing Cryptoshare crowdsale investors receive 5% additional Cryptoshares. Residual tokens are then destroyed to increase total value to all investors.

Use of funds raised from Cryptoshare issuance

30%: Allocated to increase the security of the platform. LocalCoinSwap offers trading in a large variety of digital assets. To protect against all possible threats multiple layers of redundancy have been implemented in wallet systems, and security critical processes abstracted to separate servers. A large allocation of crowdsale revenue towards security will provide users assurance that LocalCoinSwap is a safe platform on which to trade.
30%: Allocated exclusively for the addition of new coins. LocalCoinSwap aims to provide the maximum diversity of trading options upon launch and will hire dedicated staff solely to investigate and implement new cryptocurrencies.
20%: Used for further development and expansion of the platform. This will enhance scalability and the number of features which will be offered on initial launch.
15%: For business development, marketing & advertising. LocalCoinSwap will implement broad marketing & advertising strategies to increase the user base of the platform upon launch. These strategies are refined and focused campaigns based on the data and analytics gathered during the Cryptoshare issuance.
5%: Allocated for administration costs incurred during the final development of the platform.

Use of revenue on the LocalCoinSwap platform

LocalCoinSwap will detail a breakdown of all expenses each financial period, to provide full transparency to its investors. The figures above provide an estimate that will depend on the exact amount of revenue made by the platform. In exceedingly profitable financial periods a lower percentage of site revenue will be used for administration and maintenance expenses.
80%: Distributed through the dividend system equally to all holders of LCS Cryptoshares.
9%: Used for administration costs which consists primarily of staff wages and fees paid to contracted workers. LocalCoinSwap staff are paid a maximum of a market wage in line with their relevant qualifications and experience. All salaries and contracted rates will be detailed in LocalCoinSwap's financial announcements to increase the transparency of the platform.
6%: For maintenance of the exchange platform. This includes costs of servers, replacement of physical equipment and fees paid to technical services.
5%: Allocated to enhance security of the platform. These expenses include security audits, penetrations testing and costs of implementing additional protection measures.

Roadmap

About the team and company
LocalCoinSwap was started by a team of qualified cryptocurrency experts and enthusiasts frustrated by their inability to quickly or easily buy and sell new digital assets. While plenty of mechanisms exist to purchase cryptocurrencies with other cryptocurrencies, there is little support for those who wish to enter the market with fiat currency and quickly purchase using a variety of traditional payment methods. The idea for LocalCoinSwap was born from our own needs and wants.
Together our team draws on a wealth of experience from a wide range of fields, including Economics, Computer Science, Commerce, Marketing, Maths & even Molecular Genetics.
The decision-making process in the development team is democratic and based on the vision shared by all members of the team.
LocalCoinSwap operates under a corporate entity in Hong Kong, which was first incorporated in 2015. It originally operated as a private hedge fund owned by two of the staff members before development of the exchange began. Geographically the staff of LocalCoinSwap reside in Hong Kong, Australia, Canada & New Zealand.
We strongly believe in the success of our company and look forward to partnering with the cryptocurrency community as we work together to strengthen the digital economy.

Additional information:
Website - https://www.localcoinswap.com/index.html
Whitepaper -https://www.localcoinswap.com/LocalCoinSwap_whitepaper_v1.0.pdf
Facebook - https://www.facebook.com/localcoinswap/
Twitter - https://twitter.com/Localcoinswap_
Telegram - https://t.me/localcoinswap