Hello world, Hello steemians!
TL;DR
For those who arent interested in overly long articles, the short work is this.
Lancechain is creating a marketplace where freelancers and clients can interact together. The highlights are that it's much better than conventional markets. There is zero commission, meaning the site doesn't take any money, the payment system is faster than conventional ones, it is more transparent, since every transaction is done on the blockchain, and it is much safer since the money is stored in a smart contract enabled escrow until the deal is complete.
The ICO is on, and around half of the 96.8million LANC token will be sold.
Checking the team
Ok so the first thing I wanted to check after I found out about this project was the team behind it.
Scanning through, one name that caught my attention was Richard Trummer. Now many of you may not know him, in fact a whole lot of you will not know him, but he is a crypto person too.
I read many of his answers on quora
I first heard of him when I was searching around on Quora crypto section, and while he may not be one of the very big boys there, he has his own share of respect accorded to him.
He has quite a number of answers as related to cryptocurrency on quora and seeing him in this project as an advisor at least leads one or two credibilities to it from my perspective.
After going through the white paper, I can at least say that this is one ICO that ill be interested to participate in. So lets jump right into the details.
Lancechain at a glance
Lancechain is a marketplace built on the blockchain for freelancer and project organizers.
It isn't a product per say, but rather they hope to provide a service, a sort of central place where freelancers,(on any field) can find work.
The number one appeal that Lancechain is supposed to have is its zero commission system. This simply means that when you do a job on lancechain or request for a job, the site doesn't take its cut of the deal.
This is especially inviting because I was a user of fiverr, and back then, around the middle of 2017, I saw my profits always slashed down by fiverr as part of their '' commission''
Lancechain introduces blockchain technology into the system via their tokens. Another problem I had with fiverr and basically with every other freelance websites out there no based on a blockchain is the fact that payment can be a hassle.
Trying to connect with paypal or payoneer, meeting your bank if something goes wrong, the longtime one has to wait to verify that a transaction was done, and the unholy stress one has to pass through should a problem be encountered with payment in order to recover your funds.
LanceChain is saying that they can fix all these things via their connection with blockchain technology and their dedicated team.
Lancechain doesn't just provide a place for these freelancers to get work, they are also providing you the assurance that no matter what happens, your money is safe until the end of the deal thanks to them implementing an ''ethereum smart contract escrow system''
With the freelance market growing daily, fueled more by the fact that people are quitting their jobs to become crypto miners/participants, Lancechain seems to be a service that is coming up at the right time.
Let's face it, working for someone else sucks, everyone wants to be their own boss, but not everyone has the means to do it.
For those in the entertainment industry, or those with special talents, the route to stardom is often long and uneasy, and if you do not want to work under someone, the best possible route to take is to be a freelancer.
Now Im not gonna tell you where to take your freelance skills to, but at least take it to a place where your pays arent cut by the site claiming to provide a free space for you to place your tools, all the while charging for the door key.
So to recap, the major features of lancechain include;
No censorship, no central authority, meaning no biased action towards a particular set, and no undue punishments/suspensions or the likes
0% commission fee, which means all your profit goes to you, no percentage is coming back to the site.
Smart contract escrow service, which ensures you get paid at the right time.
Blockchain community, where premium services are offered for free to those who deal with blockchain related activities via the lance blockchain.
and so much more.
The lancechain market
The main goal of the marketplace/site is to connect people who need something, to those who are willing to offer that something.
The word ''something'' here could of cause mean anything, any marketable talent.
The blockchain inclusion gives the project a better status than those without blockchain due to its cost-effectiveness, no-censorship, and fast communication/transaction persona.
A different approach being taken by lancechain though is the introduction of 2 extra types of people into the freelance system.
A normal freelance market place has the talents and the talent seekers. I.e the freelancers and those looking to hire the freelancers.
But with lancechain, people called talent recognition experts, as well as dispute settlement experts, are introduced into the system.
Talent regognition experts.
These are people that are well versedin a particular field, and also LANC token holders. Their job is to vet, try, recognise and recommend talent when they see it on the platform.
So for example MR A is well known in writing, and he is also a LANC holder on the lancechain platform.
He has the power to handpick or recommend a particular freelancer to a client.
This is due to his amount of experience and know how in the field.
Dispute settlement experts
Since lancechain is running on blockchain technology, and the system is decentralized, certain people will be elected by the lancechain community to settle disputes as they see best.
These people hired by the community to do this will of cause need to possess skills that make them capable of handling the said disputes.
Incentives to being part of this two class of people include receiving a part of the profit from the platform, in form of LANC tokens,
Details on the token & distribution
The token used to power this project is called LANCECHAIN, with symbol LANC. It is of cause an ERC-20 token and it is a utility token.
utility token? Well this basically means that when LANC launches, you'll be entitled to some form services via your ownership of the said token.
So for example, future updates, as well as premium services brought out by the LANC community or developers will be accessable by you.
How it goes is up to the team to determine, though I would prefer they do it by the number of tokens you hold.
So let's say an update comes out, or a new premium service is launched, those holding more tokens should be the ones to get the service first.
That's just my own opinion of cause. This strategy would incentivize owners of LANC tokens to hold more.
Since the LANC token is built on the ethereum blockchain, there is no need to worry about finding markets to exchange and trade your coins.
Ether delta, token market, idex.market, just to name a few, are some of the places that hosts the highest amount of ethereum tokens, and once LANC launches fully, will definitely want to appear in those exchanges first.
Of the total tokens to be distributed, approx. 50% will be used for the fundraiser/ICO. The token distribution is given below;
| Token distribution | percentage |
|---|---|
| Crowdsale/fundraiser/ICO | 50% |
| Partnerships | 20% |
| Future developments reserves | 20% |
| Founder and team | 10% |
The funds generated from the fundraiser will of cause be used to finance the project as explained above.
The focal points of the funds will be in software, reserves, and marketing. The allocation is given below;
Use of Funds from token sale|percentage
Software development|40%
LANC reserve|20%
Marketing|15%
Operational expenses|10%
Contigency|10%
Legal expenses|5%
ICO details
The total token supply of LANC is 96.8 million tokens, with half being sold to the public at different rates, based on the round that one enters the sale in.
The LANC tokens will be distributed via 4 separate rounds of sale, the first being the private sale, then the pre-sale, then the main sale, which is divided into two rounds.
Depending on the round you happen to join the project in, there is a certain amount of bonus/discount attached to the LANC coins you buy.
The currency to use when buying LANC is ETH and for each round, 1ETH will buy different amounts of LANC coin, as per the bonus feature.
For the private sale, a total number 2000 LANC tokens can be bought with 1ETH. This is possible with a 42% bonus on the coin for being one of the first set of people to buy the token.
From there, the bonus in each round starts droppind drastivcally.
In the Pre-sale, a total of 1900LANC tokens can be gotten for 1ETH, this of cause occurs with a 36% bonus on the token.
Once the main ICO starts, the bonus on each token is reduce to 18%. This means that 1EThcan only now get around 1650LANC.
The main ICO/fundraiser is divided into two rounds, round 1 and 2.
The round two of the main crowdsale/fundraiser has no bonus attached to it, and 1ETH is equivalent to 1400LANC tokens.
The soft cap of the project is slated at $1,000,000, while the hard cap is slated at 31,000 ETH.
An interesting fact about the ICO is that once the hardcap is reaced, the system stop recieving ETH to the address and automatically refunded by the smart contract embedded into the system.
To ensure financial security on the part of the investors, a 2 year vesting schedule, with a 6 months lull, will be imposed on the tokens recieved by the founders and team.
This basically means that the founders cannot cash out any token until at least a period of 6 months has passed, and afterthen , it takes a whole 2 years before the tokens can be fully recieved.
Roadmap
A good project can easily be differentiated from a scam or incomplete one by viewing their roadmap.
The more dodgy and general terms used in it, the more likely that the developers are just looking for a money grab opportunity.
With LANCETOKEN however, the truth is things couldn't be clearer.
The plans for this started as far back as June 2017, meaning at the time of writing, the developers had spent close to 9 months on this project before pushing it out for the ICO.
Around Oct 2017, development of the project started, this included writing the programs, creating the tokens, starting work on the website, among other things.
Feb2018, The project was announced, with an announcment being made on bitcoin talk, telegram and other places.
Also on Feb 2018, the Bounty and affilate programs were announced as well.
Around Q2 2018, the Token sale is slated to begin, and as decribed above, will consist of 4 different rounds, woth each round giving bonuses/discount to those who buy early.
Q3 2018 will see the integration of exchanges into the platform
Q1 2019 Will see the launching of the Lance chain platform.
Q2 2019 will see the launching of mobile apps to accompany the project. This basically enables one to have the app at hand at all times. This leads to faster response time, quicker work submission, and portability on the side of the freelancer or the person wishing to hire a freelancer.
Q3 2019 and beyond, the more LANCECHAIN moves forward, the bigger the entire platform is going to be.
The funds reserved for future use will be used for continuous and ongoing developments.
All in all, im hopeful for this project to come out well, read more below.
Website:https://lancechain.com/
Whitepaper: https://lancechain.com/whitepaper
Twitter:https://twitter.com/lancechain
Facebook: https://web.facebook.com/lancechainofficial/?_rdc=1&_rdr
Announcment thread: https://bitcointalk.org/index.php?topic=2935769.0
Telegram: https://t.me/lancechain
authored by destinysaid
bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1874680
ETH address:0xb83ed3e6B6497f7B0350cc053AF918aE7423037E
This sounds like an interesting project, but there are many other competitors out there already like Effect.AI on NEO.
yeah! Thats true, its interesting to watch which of these projects will survive in the long run!
This so insightful.
Resteemed
Seandainya postingan ini bisa di terjemahkan ke bahasa Indonesia
@tommy123
good inf have a nice day follow now
My portfolio so down I'm waiting for it to recover before trying on some ICO. But truth is cryptocurrency offers some great level of freedom. Keep steeming
Heard of irene energy? check it out, its something not seen everyday, and its ico is on stellar
Too many good ICOs, so also are the fluffs. I'm on an ICO vacation. Will consider some good ones when I'm done. Thank you.
@destinysaid
Its nice of you to bring something like this to our notice. I used fiverr too about two years ago and it was really stressful making withdrawals. That's not to mention the 10% commission the site charges. I see this as a step in the right direction. I think there are some freelance sites that already allow cryptocurrency as a means of payment but with the package that Lance brings to the table, she'll beat them all.
@ezravandi
hopefully! the change we are experiencing is unprecedented. Its best to be fully rooted in the technology revolution now taking place.
Check this game out, look close with an open mind with what this new concept is doing with open source Ethereum ERC-20 smart contracts, decentralized exchange and passive income. The game has passed the crypto kitties game on the Dapp Radar. The smart contract is coded to tax 10% of the ETH. when users purchase the (P)roof (O)f (W)eak (H)ands tokens and divides the ETH. tax to people who are already holding and also 10% of when users sell “20% total”. The name of the game is to hold as long as you can while you get earnings from the constantly taxed “Strong hand” buys and the taxed “weak hand” sells. If you don’t want to play anymore, you can pull out all your earnings all at once but with a 10% tax fee that gets divided to the stronger hands. This is what the ERC-20 smart contract is programed to do. Doesn’t hurt to look at the contracts open source code at least, don’t let the opportunity pass you by.
https://powh.io/?masternode=0x32c37e7ca38be1f85cd9e85c81ac9b6730f43e3e
i told you to stop this