(LIVENPAY: Goodproject) – What is LIVENPay?
Hello everyone, on this occasion I will explain about a very good project, which is about the Livenpay project …Lіvеn is аn incentive-based mobile рауmеntѕ gаtеwау and ecosystem рurроѕе-buіlt fоr the lіfеѕtуlе аnd dining іnduѕtrіеѕ. Hundreds of thousands оf реорlе uѕе Liven tо dіѕсоvеr thоuѕаndѕ оf restaurants, process millions іn instant mоbіlе рауmеntѕ, аnd еаrn LVN – The Dіgіtаl Currency fоr Fооd. LVN саn bе ѕаvеd uр, ѕреnt аt аnу Lіvеn merchant, оr donated tо a nonprofit оrgаnіzаtіоn natively іn thе Liven рlаtfоrm.
We believe the Liven Platform presents a strong use case for blockchain technology and a liquid token economy. Blockchain technology enables our platform to do more for our users and partners, evolve beyond the current mobile payments landscape, and pushes us ever further towards our goal of building a global payments ecosystem empowering people to do more of what they love.
visible reward protocol and reward cache mean the value of the LVN price within our network is always transparent and free from manipulation by Liven or any third party.
The use of powerful smart contract functionality also allows us to publicly provide assurance to users and merchants alike that these system elements will operate securely and as described. The reward cache from which all LVN rewards are disseminated is governed through the use of a smart contract which contains the mathematical algorithm that sets the internal conversion rate and also secures the contents of Liven’s reward cache. By decentralizing the reward protocol the smart contract provides security against criminal parties attempting to steal from the tokens of the reward cache – as nobody can directly access these tokens, even Liven – and also lends transparency to users.
LVN will play a pivotal role in the Liven Platform as both a medium of payment and the medium of incentive. Liven currently exists in fiat form as a rewards-based payment technology where users earn an internal network currency (that is currently pegged to the value of the Australian Dollar) on every transaction at a variable earning a rate of 10-30%. User account balances are stored on a private ledger against the user’s email address and can be spent freely as fiat value at any Liven partnered merchant.
Implementing a token economy broadens the scope of our network in a number of ways. Liven utilizes a closed-loop payment network as part of a strategy in place to benefit merchant partners. Users are incentivized to transact within Liven’s network of merchants due to the positive feedback incentive of eating and earning with a currency native only to the platform. Evolving to a blockchain token system means that users will have more freedom with their rewards, but the value itself must still be eventually redeemed within the merchant network.
While tokens can be socially exchanged among friends or held indefinitely, they still remain LVN Tokens and can only truly be ‘redeemed’ within the Liven Platform system. This retains the network effect for merchants and increases flexibility for users. Moving from an AUD pegged value model to an internal economy opens up the use of LVN to global travelers once the business is launched internationally while minimizing market fluctuations common in cryptocurrencies.
Trustless & Transparent Rewards Protocol
Some of the major advantages of blockchain are the transparency of the public ledger, and the ease with which value can be transferred between individuals. Liven’s publicly Through this SDK certain approved third parties will be given the ability to disseminate LVN from the reward cache and also receive it as payment by their customers. In this way, they can access a ready-made loyalty system that uses a currency which can only be used within the Liven network. The simple integration of an SDK into existing checkout systems also saves them the effort and expense of building and maintaining their own complex loyalty program. This scheme is highly beneficial to Liven as it allows rapid expansion into new markets and verticals, perhaps even beyond our current geographical territories, spreading the usage of LVN.
Socialising Peer-to-Peer Finance
Incorporating blockchain technology into Liven’s Platform makes it possible for users to easily send currency, split bills, and share rewards – making peer-to-peer sharing simple. Users will be able to purchase LVN externally to ‘precharge’ their account or to gift to friends and family. In order to make the Liven Platform more accessible on the user level, the Ethereum wallet address that stores users LVN balance will be supplemented by a username handle, similar to those used on Twitter or Instagram.
This @handle mechanism is familiar to users of these popular social platforms and using it with LVN will create an instantly recognizable experience, which lends itself to an increased facility of entry into the practical applications of cryptocurrency for everyday consumers.
Use of LVN by Third Parties via LivenPay API
Liven plans to create a payment gateway SDK that can be deployed by third parties directly into their own applications and websites, allowing LVN to be spent and earned during the checkout process. When a consumer makes a purchase through these third-party platforms and comes to the checkout phase of the transaction, they will be given the option to pay with LivenPay in a fashion that is reminiscent of paying with PayPal.
Platform Exclusives to Drive Demand
Within the Liven Platform and its network, capabilities exist for strategic events or timed promotions that limit the purchase of system exclusive offerings – such as event tickets or unique menu items – only to holders of LVN tokens. For example, a Liven partner restaurant might create an exclusive ‘Liven Burger’, a unique menu item that will only be served for one week.
Gamification
Habitualization is a powerful force and one that is important for any type of platform where repeat usage is critical. Gamification elements improve user retention and engagement through habitualization, and can be used to entice users to transact more frequently, leave reviews of their experiences, post pictures of our merchant partners and their food, or refer others to the service – behavior that has benefit for the entire Liven Ecosystem.
Gamification strategies that will be incorporated into Liven include ‘levelling up’, where users reach higher levels of achievement for performing certain actions. Greater rewards for users who display desired behaviour and achievement badges for completing challenges, such as visiting a set of restaurants, referring a certain number of friends or simply discovering all of the features of the applications.
These elements will access funds from the company’s promotional token reserve, the broader scale marketing budget or from Liven’s commission on certain transactions. Liven’s initial gamification mechanics will not be decentralized by design, but an extension of the company’s ongoing lifecycle/ retention marketing efforts, and calculated strategically to fit well within the long term value (LTV) determined acquisition cost (CPA) of an active platform user. Further investigation into decentralization of these mechanics will be conducted at a later date.
Platform & Features
Overview
The Liven Ecosystem is comprised of the Liven Platform (a payment gateway with a built-in smart contract token reward protocol), users, merchants, e-commerce stores, charities, and external token exchanges.
The LivenCoin serves a number of utilities in the ecosystem but its main functions are facilitated by the Rewards Protocol which operates between the User’s (via their wallet in the app) and the Merchants when transactions are made.
Users
comprise the heart of the Liven ecosystem. Whenever a user pays for their meal through the Liven Platform, they receive a portion of their bill back in LVN as their reward. The user can choose to use the LVN in the following ways: (i) spend through the network as payment for other meals, (ii) forward some to a charity, (iii) put some or all of their LVN towards purchasing a specific item that was added to a Liven Wishlist by a non-profit organisation, (iv) continue to accumulate LVN in their wallet for future use or (v) trade LVN on any open crypto-exchange markets should they arise.
Merchants
join the Liven Platform to gain exposure to an engaged and relevant audience. Universal loyalty allows brick and mortar businesses to benefit from being part of a larger network, with users who are incentivized to continue dining within the ecosystem of complementary businesses as they are rewarded for each transaction, with a currency exclusive to the network.
Merchants list their venues on the platform for free but pay a success-based service fee (10% to 40%) each time a transaction is processed as a result of the platform’s marketing effectiveness for the purposes of (i) incentivizing the users and encouraging return visitation (ii) marketing the business on the platform and (iii) sustaining and developing the Liven Platform.
The payments by users to merchants and LVN rewards received by users are processed with real-time confirmation. The merchants receive payments in fiat unless they nominate to receive LVN directly for their own purposes. Liven has an existing system for the automatic generation of transaction statements for provision to merchant partners, who are paid in fiat currency to a nominated bank account periodically
Charities and Not-for-Profit Organisations
Through Liven, charities are given access to an audience of affluent potential-donors at a time when it is most appropriate to ask for a contribution.
At the conclusion of the transaction, dialogue users are given the option to forward some, or all, of their LVN reward either directly to the non-profit organisation to spend as they see fit.
The Liven App
The Liven Wallet
The LivenPay Payment Gateway
The LivenCoin (LVN) Token
The value of LVN (aka its purchasing power), is dynamic and is determined by the Reward Protocol All aspects of our project including the size of our network and the utility of the LVN token will be expanded upon massively and we look forward to having you along for the ride.
The token generation event will create 10 billion LVN. A maximum of 3 billion of these will be offered for sale through a token sale, to be released to purchasers at the conclusion of the event. Any tokens that are not sold during the sale will be burned, and the reward curve formula adjusted to maintain the same ratio of liability to funds raised that would be achieved if the hard cap was met. The smart contracts for the LVN token generation event and crowd sale contributions are viewable from Liven’s public Github. All smart contracts have been independently audited by our partners at Hosho to ensure a high standard of security for the ICO, the audit report can be viewed here.
The primary purpose of the Offer is to offer the pre-purchase of food and other products or services represented in the form of the LVN Token and to utilise part of the funds received for the pre-purchase to create the new Liven Platform ecosystem, including the broad distribution of tokens to potential new users through the ICO event and enabling the ability for tokens to be accepted in new geographical locations through the launching of the Liven service in those locations, and other activities to meet this end. There is no guarantee that this objective will be achieved as it is merely an indication of what Liven aims to achieve over the relevant period. Liven’s objectives may change at the discretion of its directors. Liven may not be successful in meeting this objective and the token generation event is not guaranteed.
The below table outlines the key figures and allocation breakdown for the LVN token generation event. The individual breakdown of each portion is detailed on the following pages.
Worth noting is that the Reward Cache which is comprised of 30% of the total token supply cannot be used by Liven to “flood” the market by being rapidly put into circulation. The balance of the reward cache is locked by a smart contract and is only interacted with through the Reward Protocol described above, as users transact within the Liven network of venues. These tokens are not available to Liven for raising further funds, and can only be released to users as rewards, and at a diminishing rate, as spending occurs within the network.
In the event that reward cache tokens enter circulation through user rewards the internal conversion rate increases, meaning that the rate at which they are disseminated decreases, according to the reward curve. The end result is that an increase in the circulating supply will always coincide with an increase in the internal conversion rate; providing a measure of insulation against price decreases in the external market despite more coins being in circulation.
*The above timetable is indicative only. Liven reserves the right to vary the dates and times set out above subject to applicable laws. In particular, Liven reserves the right to close the Offer early, extend the date the Offer closes, accept late Applications or withdraw the Offer and the issue of LVN Tokens (in each case without notifying any Contributor). The public sale open date will be published on livenpay.io including all other relevant dates.
Bonus Token Tiers for Early Purchases
The Initial Token Sale will be broken into 8 tranches. Participation in earlier tranches offer a better bonus rate. A tranche is filled when either the maximum allocated tokens are sold or the allocated amount is received, whichever comes first.
We’ve been active in the market for three years – moving fast on product releases, global expansion, and ecosystem growth.
A Brilliant Product Requires A Brilliant Team
LivenPay ICO: https://livenpay.io
Whitepaper: https://s3-ap-southeast-2.amazonaws.com/livenpay.io/LIVEN-WhitePaper(EN).pdf
Telegram: https://t.me/livenpay
Medium: https://medium.com/livenpay
Liven Blog: https://blog.liven.com.au
LivenPay Blog: https://blog.livenpay.io
Github: https://github.com/livenpay
Reddit: https://reddit.com/r/LivenPay
Facebook: https://facebook.com/LivenPay
Instagram: https://instagram.com/livenpay
profil Link : https://bitcointalk.org/index.php?action=profile;u=1630657
ETH address : 0x4D3df5e2BF09323f6FeB28bA1286696618e0Cc6C
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