Whitepaper


Vision


LiveBit.io started with a vision of creating a go-to website for users to gain access to all current Cryptocurrency related information. We recognized early that it was tough to find relevant, consistent, and reliable feeds of Cryptocurrency news, so we at LiveBit set out to create a community platform based upon the premise of users submitting informative articles and other interesting internet findings, and rewarding those users for the positive feedback received from the the LiveBit community.

We have found through many sleepless nights, numerous Cryptocurrency resources available for public use, such as pricing and market data API's offered by CoinMarketCap and CryptoCompare, and great charting tools offered by TradingView. We are striving to bring all of these resources together, and more, in one central convenient place, for all Cryptocurrencies.

Humanity has evovled and presented us with incredible technologies such as digital currencies, and it is up to us to spread the good word, and positively promote something we truly believe in.


Goals


The main goal of LiveBit.io is to provide a platform for a community to grow based upon relevant and quality Cryptocurrency related information. We also strive to be fully transparent with the distributions of the LiveBit tokens, internal ledger, balance sheets, and to provide up to date status of these positions. We are currently a work in progress and will try our best to meet these goals.


What is the LiveBit token?


LiveBit is a token created on the WAVES blockchain, and it is the fuel of LiveBit.io. It can be earned by users accumulating feedback on the Cryptocurrency related content they find across the internet and post in the articles section.

Total Supply: 100,000,000 LiveBit
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Distribution/Allocation (%)


  1.2% (1.2M) Released on WAVES DEX
  1.8% (1.8M) Bounties and Promotions
  5.0% (5.0M) Administrative Reserve
  12% (12M) Early Bird Promo Reserve
  80% (80M) LiveBit.io User Activity

LiveBit User Allocation Reference Table

FACTOR
WHEN TOTAL
DISTRIBUTIONS ARE
YOU WILL EARN
FOR EACH
> < POST VOTE/COMMENT
.95 0 8M 0.95 LiveBit 0.95 LiveBit
.80 8M 16M 0.80 LiveBit 0.80 LiveBit
.70 16M 24M 0.70 LiveBit 0.70 LiveBit
.60 24M 32M 0.60 LiveBit 0.60 LiveBit
.50 32M 40M 0.50 LiveBit 0.50 LiveBit
.40 40M 48M 0.40 LiveBit 0.40 LiveBit
.30 48M 56M 0.30 LiveBit 0.30 LiveBit
.20 56M 64M 0.20 LiveBit 0.20 LiveBit
.10 64M 72M 0.10 LiveBit 0.10 LiveBit
.5 72M 80M 0.05 LiveBit 0.05 LiveBit

Value of LiveBit


The LiveBit Token itself has no current monetary value. The LiveBit Token is not backed by any physical or monetary asset, it is not redeemable for anything, and the token does not represent an ownership interest in LiveBit.io. The initial distribution of tokens available on the WAVES Decentralized Exchange are not intended to be an "initial coin offering", and are only offered for purposes of crowd-funding and fundraising for the benefit of future developments of the LiveBit.io platform, and are only intended to target users who believe in the current and future utility of the LiveBit.io platform. Any funds raised will be used for future development of the LiveBit.io platform and for any future administrative expenses to be incurred by LiveBit.io. Our goal is is to provide full transparency with recording and reporting on the use of any funds received (see proceeding section).

We would like to note, that the community behind LiveBit.io can have immense value to the users of LiveBit.io. The success of LiveBit.io will depend upon the LiveBit.io community’s ability to develop habits of submitting high-quality cryptocurrency related internet findings for the greater good of our Cryptocurrency focused community, and accordingly ranking such submissions made by other LiveBit.io peers. Might the community find value in this platform after the crowd-funding phase is complete, the future of LiveBit Token will be at the mercy of traders on the WAVES Decentralized Exchange.


Use funds obtained through Crowd-Funding and Donations


Our first goal with regards to any funds raised via token sales or donations receieved, is to establish a WAVES Proof-of-Stake Node. We believe in the future of the WAVES Platform, and having an established Node will create the opportunity for us to enable many value-added services to the LiveBit.io community. WAVES Node's participate in the process of securing the WAVES Blockchain, by validating pending transactions and including them in the WAVES Blockchain. WAVES users also have the ability to lease their personal WAVES balances to the Node (in a process that is cancelable at any time), to further strengthen the probability of the given Node's ability to participate in the Proof-of-Stake "mining" process. If we are able to meet this goal we will be able to integrate our Node deeply into the LiveBit.io platform, which can bring many new features such as nearly instant withdrawals and deposits of LiveBit tokens to and from WAVES wallets, deeply discounted transaction fees for transactions clearing through the blocks that our Node process, and the establishment of equitable rewards in LiveBit Tokens, as well as any Miner Rewards received in the process, for users who decide to lease their WAVES to our Node. Accordingly, the first 20,000 WAVES received, or comparable amount measured in any other Cryptocurrencies received via donations, will be allocated to establishing the LiveBit.io Community Node. Might we meet this goal, further uses of funds received will be outlined in this Whitepaper.


Bounties


TradingView Database Maintenance
We have setup a system where users can add missing TradingView charts to the Coin pages. Users can earn 10 LiveBit Tokens for each chart found on TradingView that we do not have listed. TradingView is constantly adding more and more Cryptocurrencies to their service and we find that this is a great approach to give back to our users who spend the time comparing our records with those of TradingView.

Likewise, for any outdated, expired, or non-functional TradingView charts featured on LiveBit.io, which are identified by LiveBit.io users, we will reward you with 10 LiveBit Tokens for each finding. For now you can submit your findings via the form found on the About page, and an administrator will process your request in a timely manner.


Referral Program


We will soon enable a referral program, for which you can earn LiveBit tokens for each member who makes a LiveBit account using your referral link. You will also earn LiveBit based upon the activity of your referrals. More information regarding the payouts will be featured here when it is available.


Note Regarding Temporary Hold on LiveBit Earned


By participating as a user on LiveBit.io and submitting information you find, you will earn LiveBit tokens. We are in the midst of developing a proper cut-off for the period between when you make a posting/accumulate feedback on said posting, and when you are entitled to freely transfer the tokens you have earned. We are currently exploring whether a one or two week period is sufficient to properly reflect the LiveBit.io communities reaction to information you submit. As our community grows in the coming weeks, it will become more clear when a post will generally cease to gain additional feedback. Accordingly, we will provide more information here when a final ruling has been made.

Tentatively, we will enable outbound withdrawals to WAVES wallets on 3/31/2018 (the "soft date"). This date is subject to change depending on our ability to identify and mitigate various forms of misuse of the services we offer through our platform. The soft date will also depend on our ability to obtain a sufficient level of fundraising to provide a blanket for operational expenses to be incurred, as well as for scaling our platform for future demands. Until then, your LiveBit balance will accumulate in your account here on LiveBit.io. You will be able to store your public WAVES address under your Account Settings, and request a withdrawal via your Ledger.


Disclaimer: Limitation of Liability and Warranties


The information on LiveBit.io is provided as is. Under no circumstances should you use this information to make investment decisions. Virtual currencies are a highly speculative industry and investors should be aware of this when evaluating information obtained on the internet and should perform their own due dilligence prior to investing in a virtual currency. It is also important to to note that technical inaccuracies and/or typographical errors may exist throughout LiveBit.io, and accordingly LiveBit.io assumes no liability for such occurrences, might they exist. LiveBit.io offers no warranty on any information found on this website and/or on the website features that users of LiveBit.io are available to freely use. We are constantly updating the website and making changes including adding, deleting, and amending existing information throughout the website, and accordingly any information found on this whitepaper, or any other terms or conditions, features, reward rates, privacy policy, or any other information found throughout the website are subject to change without express notice to the users of LiveBit.io. By using this service you agree to these conditions. We claim no ownership of the articles, or other information posted by the users of LiveBit.io, and we have implemented direct external links, and URL path referencing to such external articles posted by the users of LiveBit.io.


Date of Last Modification: 12/15/2017