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LAPO – the First Cryptocurrency to Reach Stability Without Being Backed by Assets

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The cryptocurrency market has matured to a certain degree, but it is still far from reaching a point when people find digital currencies useful for regular payments. The main purpose of crypto investors is to speculate and save value in the long-term rather than benefit from their functionalities. Even though Bitcoin was launched as an alternative currency and payment system, few people use it to buy goods and services online. Many cryptocurrencies start with a goal but eventually end up in being used for the sole purpose of generating profits based on the price surge over time.

LAPO, a blockchain-powered ecosystem that is about to be launched soon, wants to address the mentioned problems by providing a cryptocurrency that is stable over time and may be adopted for everyday business.

LAPO Coin (LAX), as the digital currency is called, will be part of the LAPO ecosystem, which is aimed to become a link between the traditional financial space and the cryptocurrency market.

LAPO Ecosystem Components

The LAPO ecosystem will revolve around the LAPO ePlatform, which will include a multi-currency wallet, payment processing functionality in multiple currencies, real-time decentralized trading, private transactions, and smart contract layer with the option to create new tokens, which will be linked to the LAPO Bank – another key element of the ecosystem.

Here are the ePlatform’selements and features with their short descriptions:

  • LAPO Trading Platform (LTP) – this will be a decentralized exchange where users will be able to trade LAPO tokens, LAPO coin, altcoins, and fiat currencies.
  • Merchant Portal – a crypto wallet designed to provide businesses with intelligence capabilities and reporting features. Merchant customers will be able to download it on a mobile device and enjoy functions like LEG, LSP, LDM, and LPP (described below).
  • LAPO eGateway (LEG) – user-friendly API to help third parties like online shops integrate payment requests in any digital currency;
  • LAPO Sale Point (LSP) – this feature will help business users accept LAX and other cryptocurrencies. The app will be compatible with any smartphone or smart device;
  • LAPO Direct Marketing (LDM) – this features will allow businesses to create tailored promotions that will push into the LAPO wallet holders;
  • LAPO Payment Protection (LPP) – the system is meant to protect clients from fraud, scams and stolen items;
  • LAPO Foundation – the team will have the mission to support the education of children around the world through the implementation of innovative technologies.
  • LAPO Stability Fund – the fund will be used to keep the coin away from pump and dump schemes and other artificial means to push the price up.

The stability fund will be the key element that will ensure the LAX has a stable price and is not misused or exploited by scammers. This, along with other features and options, will make the ePlatform safe and user-friendly, enabling business and individual customers adopt the technology for everyday operations.

How Will the Stability Fund Influence the Price?

To make LAX feasible for businesses, the fund will be used to keep the price stable by ensuring the protection against pump and dump schemes and other types of scam methods. Previously, cryptocurrencies like BitShares or Stablused different ways to keep the coin’s price stable, but they involve collateralized obligations or long/short positions on an underlying asset.

Elsewhere, USDT, a token issued by Tether, maintains a stable price by pegging the coin to the US dollar. However, such a coin doesn’t have other functionalities other than being a dollar-backed digital asset.

LAPO’s approach will be entirely different, as it will address the volatility challenge with the implementation of Seigniorage Shares, a concept introduced by Robert Sams of Clearmatics back in 2014.

Here is how Seigniorage Shares work:

  1. Let’s say hypothetically, on day one, the total supply of LAX is 100, and each coin is worth $1.00.
  2. The next day, each coin increased in value by 10% to $1.10.
  3. The Stability Fund will now have to sell 0.1*100 new coins via an auction to users who hold shares, immediately destroying the shares it buys.
  4. After the auction, the LAX coin supply will increase to 110, pushing the price down to $1.00.
  5. On the third day, the value of each LAX drops to $0.90.
  6. To stabilize the price, the fund now sells shares via an auction process to coin holders until the LAX supply drops to 0.99*100 via a buy/burn process.
  7. After the auction, the LAX price will bounce back to $1.00.

With the implementation of Seigniorage Shares, the LAX price will be maintained in a narrow range so that businesses and individuals taking part in the LAPO ecosystem could enjoy stability. Otherwise, no company will be willing to risk with its goods and services by linking them with an unstable coin.

LAPO Coin is the central currency of the LAPO ePlatform, and its price will be stabilized without the need for other assets. The initial Presale has already started on May 1, and investors have the chance to buy coins at a great price until June 1. The ICO will start the 15th of June 2018.

For more information regarding the LAPO Ecosystem, check the official website and subscribe to get the whitepaper.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Property Loans for Foreigners in Singapore That You Must Know About

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Intending to invest in a residential or commercial property in Singapore?  

When it comes to foreigners applying for a loan in Singapore, things can be pretty hard regardless of the reason whether you need the property for personal or business purposes.  

In Singapore, buying a property is challenging, whether you are a foreigner or a native, and sometimes applying for a loan is the only way for you to afford it.  

HOW MUCH CAN YOU BORROW FOR A PROPERTY LOAN IN SINGAPORE? 

As for the Foreigner Loans, in Singapore, there is an exact amount of money you can borrow to finance the purchase of a property.  

In this sense, Singapore has the Loan to Value Ratio (LTV).  

The LTV ratio is what determines the exact amount of money you can borrow for a property loan, which changes depending on where you try to obtain the loan:  

  • If you are applying for a bank loan, you can borrow a maximum of 75% of the value of the property you want to purchase. That means if you are looking for a property that costs $500.000, the maximum amount of money a bank lender can give you like a loan in Singapore is going to be $375.000. 
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CoinField Launches Sologenic Initial Exchange Offering

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CoinField has started its Sologenic IEO, which is the first project to utilize the XRP Ledger for tokenizing stocks and ETFs. The sale will last for one week and will officially end on February 25, 2020, before SOLO trading begins on the platform.  Sologenic’s native token SOLO is being offered at 0.25 USDT during the IEO.   

Earlier this month, Sologenic released the very first decentralized wallet app for SOLO, XRP, and tokenized assets to support the Sologenic ecosystem. The app is available for mobile and desktop via the Apple Store and Google Play.  The desktop version is available for Windows and Mac.

“By connecting the traditional financial markets with crypto, Sologenic will bring a significant volume to the crypto markets. The role of the Sologenic ecosystem is to facilitate the trading of a wide range of asset classes such as stocks, ETFs, and precious metals using blockchain technology. Sologenic is an ecosystem where users can tokenize, trade, and spend these digital assets using SOLO cards in real-time. The ultimate goal is to make Sologenic as decentralized as possible, where CoinField’s role will be only limited…

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Many of the Top Sports Betting Websites for 2020 Can Be Found On Boomtown’s Best Betting Page

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Sports betting is one of the widely known types of online gambling. With a large number of sports fans around the world, this type of gambling is one of the most sought after. The problem usually comes from when gamblers try to find the best sites out of the many available ones. Many new sports betting sites come up daily, thus making the selection process even harder. One of the best places to find top betting websites for sports is Boomtown Bingo. This platform doesn’t just give users the best online casino games websites, but they also cover sports betting. As such, boomtown bingo remains a one-stop-shop for everyone who needs the best and the latest online gambling and gaming sites for all types of devices.

Performance

The performance of any website is critical. Users need to find their way around the site easily, and that can be made possible with the site structure and arrangement. Loading time is also essential. A website that always hangs thus pushing the user to refresh every time is no good. These are some of the factors that Boomtown Bingo looks into when selecting the best sites for its users. You can be sure that the new sports betting websites listed on Boomtown’s platform have faster loading time, can be used easily by everyone,…

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