MISSION :
The LMSI token is intended to raise the value and or liquidity of Burst coin, and to allow the long term investors of the coin to earn additional income. -as Burst coin does not offer a proof-of-stake mining method-, and introducing a cheap alternative to the dominant ERC tokens.
HOW DID THIS IDEA EMERGE?The LMSI token had a very basic and limited concept, but along the long way it evolved based on feedback from random persons over the discord network. Every single of the over 100 people asked mainly for negative review had something to shape and form the token to the point where i found it sufficient to release.
HOW IS LMSI GOING TO ACHIEVE THAT ?Income from selling the LMSI tokens, and income from donations is spent to obtain other coins that have proof-of-stake mining available, the income from the proof-of-stake mining is then sold in exchange to obtain burst coins. Dividends are payed from this income. (simular to cold staking) This in turn will raise the liquidity of Burst coin, and creates a demand for the coin, therefore increasing both its utility value, and financial value.
WHY NOT JUST CHOOSE AN EXISTING SHARED MASTERNODE OR POS OPTION ?If a user holds Burst coins, but would like to engage in proof-of-stake mining, then the user has to first sell the coins, and buy a different coin that has P-O-S mining available. When this happens, there is no demand created for Burst coins. For this reason the metrics of Burst are negatively affected. It translates to only sell orders, and no buy orders. If the LMSI token is used, then it translates to both sell and buy offers, along with the payouts translating into transactions on the Burst blockchain, increasing the profit for miners. Also, without LMSI token, users have additional costs in the following forms:
-exchange losses to sell burst and obtain a different coin. Sending coins have an associated transfer fee for the given network, many small payments are less economic than few but large transactions.
-there are numerous services that take care of the staked coins or run master nodes on behalf of users, however they quite naturally expect a fee, that contributes nothing to the value of the chosen coin. Instead, it contributes to the inflation of the chosen coin.
-The other possibility is running the master node or POS wallet by the user. In witch case the upkeep of a computer running 24/7 will consume mostly any gains over time. A third option is a VPS running the masternode or POS wallet, but even so the upkeep costs would outweigh the gains with small investments.
LMSI tokens make income without the user having to operate a VPS, or pay a dedicated service , or keep a computer running 24/7 , and does not contribute to coin inflation towards Burst coin. Instead the inflation of other coins is pumped into the Burst economy.
WHY CHOOSE BURST COIN , WHY NOT SOME OTHER BLOCK CHAIN ?Burst has a stunning asset exchange, however be warned! This neat feature has been abused in the past to the point where people lost interest and trust towards it. But it is not the fault of the asset exchange it self, rather people who did not do any research and bought into all kinds of scam tokens. The asset exchange it self does provide all the required functionality. Also transfer fees for Burst are exceptionally cheap, making it ideal for the project. The user interface is simple, and clean. Many languages are supported , many operating systems also supported ,windows, linux ,mobile and MacOs. Also a web wallet is available straight from any browser, but keep in mind that web wallets are not suggested due to possible security risks involved. (expect for some webwallets ran by trustworthy operators) The platform is here, is ready, is mature, and absolutely deservs justice.
TOKEN DETAILSToken name : LMSI (let Me Stake It)
Token standard: Burst Asset
Exchange : Burst Asset exchange
ASSET ID : 16296102952444293762, Burst/LMSI (more to be announced)
Total supply : 500,000
Payout period : Monthly
Token price : 4000 Burst / LMSI token
Token sales income distribution:
100% to POS mineable coin purchase
Donations income distribution:
100% to POS mineable coin purchase
POS mining income distribution:
2% to Token issuer
2% to additional POS mineable coin purchase
2% to buyback orders
94% to pay monthly dividends
POSSIBLE TO SUPPORT/CONTRIBUTE/PARTICIPATE BY : -donating (any Bittrex listed coin is accepted)
-purchasing LMSI token at the Burst Asset exchange (other exchanges may follow)
-participating with affiliate signups to various services
-donating computing power to pool mining to a donation account ( see website for details)
The LMSI token will be available for purchase, in limited numbers.The first release will be 30 tokens. From then on, at each month sales will be under revision. If all sale orders of the issuer are filled in the first half of the given month, then the sales advance up one level. If the sell orders are only partially filled, then there is no change to the sales level. If not a single token is bought, then one step is taken down the ladder. If the sales order reach the starting level 1, no step is taken down. The ladder has 20% compounded steps, rounded down as below:
lvl 1 30 LMSI
lvl 2 36 LMSI
lvl 3 43 LMSI
lvl 4 51 LMSI
lvl 5 61 LMSI
and so on...
Sell orders from the asset issuer are not cumulative. As an example, if sell orders rise to lvl 3 (43 token on sale) and 5 tokens are sold in the given month, then 5 additional tokens will be set on sale by the issuer at the beginning of the next month.
This applies to every exchange where the LMSI token will be available at individually.
BUYBACK DETAILSThe 2% from the POS income will be spent to buy back LMSI tokens, however, buyback orders will only be available on the Burst asset exchange. If enough has been acuumlated from the 2% of POS income , the buyback will be listed. The buyback price of the token is 3999 Burst coin, the asset issuer will buy back the token. Tokens bough back are not eiligable to receive POS income.
PAYOUT DETAILSExchange accounts will not receive dividends. They are excluded. If You purchase the token using the Burst asset exchange, then it will be transferred to Your burst account, the account holding the token will be able to receive the dividend payout. If LMSI token will be listed on other exchanges, then you will have to withdraw them to a Burst account in order to receive payout. Accounts held by exchanges are not going to receive dividend payouts. Payout is made at every month, around the 1st day of the given month.
--The most important thing to note--As a potential LMSI holder/investor/supporter you have to consider a few things, however. Let me point it out You are not ever going to buy a lambo, by holding a single LMSI token. If there would be any means possible to get a lambo from holding a single token that is sold for roughly (at the time of writing this) 15 usd or so, You can bet i would not hesitate to get a bank loan, and just make profit for Me, Myslef, and I. If you consider this as an investment, you need to keep in mind that it will take TIME , measured in YEARS to reach ROI. All and every service that can get you over 100% profit within months or weeks, are likely to be scam anyways.
WHEN WILL IT LAUNCH ?IT DID ALLREADY YEEEEYUSEFUL LINKSJoin Me on Discord, tell Me what You think, Stay tuned and be READY
Discord :
https://discord.gg/nWTTv3z*/////////////////////////////////////////////////////////////////
// other links will be added. //
// A nice website, //
// links to Burst block chain //
// link to a trustworthy web wallet //
// information regarding purchasing the token it self //
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