Can someone please explain me this: How does the issuance of LH takes place?
Does the labor companies send money to the team, gets the token and pay with it to freelancers? Does that mean the token is premined?
I got confused...
LHT issuance works as follows:
1) labour company (LOC) eg in Australia with the help of Chronobank Entity (CBE) issues tokens (LHAU in this case)
2) CBE sells those tokens on the open market on behalf of LOC
3) The money is transferred to LOC.
Fees, insurance, and liquidity reserve are explained in the WP
https://chronobank.io/files/whitepaper.pdf• fc ∈ [0, 0.01] - A fee charged by the CBE for services provided.
• fi - The issuance fee which will go to the rewards contract for TIME token holders (see Section
2.1.2).
• S - A portion to be sent to the Security Guarantee Fund (SGF) (see Section 2.3.2).
• LT - The total portion sent to the Liquidity Reserve (Section 2.3.1). This fund is further split by
a variable percentage, l, into LI (LOC insurance) and L0 (liquidity) (see Section 2.3.1 for further
details).
For clarity, we write the obvious explicit relation,
ρ = fc + fi + S + LT . (2)
What is your view on it?
Good catch about the recent campaigns, although more numbers and metrics would suit better.
joined the campaign this project seems really interesting, finally a ChronoBank with blockchain technology.
Thank you!