[ANN] LibreCash – stablecoin with transparent proof-of-reserve backing

[DIXItip4ik]

where is all the records of operations will be stored?
I mean u will have different smart contracts with different coins in reserve fund and all the transactions, all the data will be scattered.
Probably u have any plan how to unite all that data and info about transaction within only one blockchain? Or at least just in centralized mode somewhere at the dedicated server?

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[ricardovaldossa]

How are u going to use tha reserve fund? They will be just stored or u gonna invest it in some start ups or tech that in future will be able to get the revenue for the LibreBank and increase the market cap overall?
Making it short, do u have any plans of investing your capital ( reserve fund u will obtain) into the commecrial start ups? Thanks in advance for tha answer

[antropogen0009]

I read that u gonna implement the delegation feature and probably that delegate will be able to store some amoount of reserve fund. Right?
If so who will choose who exactly, which delegate will be in respond for the particular part of the reserve fund? Moreover if we will take into consideration that DAO managing is far away from the final stage

[karlos_545]

How are u going to use tha reserve fund? They will be just stored or u gonna invest it in some start ups or tech that in future will be able to get the revenue for the LibreBank and increase the market cap overall?
Making it short, do u have any plans of investing your capital ( reserve fund u will obtain) into the commecrial start ups? Thanks in advance for tha answer

Yes, it is a plan. At least as far as I know.
Reserve fund will be used for the investments in different start ups or project for the purpose of total market cap increasing.
This process, i mean decesions about any investments will be made using the DAO govermance model. So only shareholders will be able to vote for any particular decesion about investment.

[all_inman]

I read that u gonna implement the delegation feature and probably that delegate will be able to store some amoount of reserve fund. Right?
If so who will choose who exactly, which delegate will be in respond for the particular part of the reserve fund? Moreover if we will take into consideration that DAO managing is far away from the final stage

Share holders or LBRS token holders via the DAO mechanism will choose who is eligable to be an escrow and what part of the reserve fund it may store.
In general it will be trust worthy exchnages or persons who have a big trust in the crypto community.

[johnywalkerrr]

where is all the records of operations will be stored?
I mean u will have different smart contracts with different coins in reserve fund and all the transactions, all the data will be scattered.
Probably u have any plan how to unite all that data and info about transaction within only one blockchain? Or at least just in centralized mode somewhere at the dedicated server?

Why is it must to be united?
All the data about all the transactions will be stored in particular blockchain. If your gonna deposit ETH to smart contract or withdraw why do u need data in VTC blockchain as an example? Only data in ETH one is important for u.
However if u wanna check all the transaction u may check the data of each smart contract ( reserve fund) in each particular blockchain.

[semiwylson]

What voting power each LBRS token will have?
Is it fixed or may fluctuate? If I understood everything correctly LRBS is reissuable token, but does not it mean that when new tokens will be emmited the voting power of the existing ones will decrease?
It definitely needes clarification.

[surtur001s]

What voting power each LBRS token will have?
Is it fixed or may fluctuate? If I understood everything correctly LRBS is reissuable token, but does not it mean that when new tokens will be emmited the voting power of the existing ones will decrease?
It definitely needes clarification.

Yes, while new tokens are being emmited or being sold from the auction for the purpose of attracting the capital - the voting power per each LBRS tokens will decrease.
But all that decesions about new tokens emmition or selling at the auction will be made only in accordance with LBRS holders voted. Dont foreget that it is DAO and all the decesion are being made by the majority of the share holders.

[ApehaFan777]

I really like the idea of decentralized stable coin that will exist without any counties borders. But it is impossible as for now due to the law and a lot of the govermental authorities.
Whats your legal status as a company? Where are u registred? Do u have all the permissions for the operations?

[nofork_man]

I really like the idea of decentralized stable coin that will exist without any counties borders. But it is impossible as for now due to the law and a lot of the govermental authorities.
Whats your legal status as a company? Where are u registred? Do u have all the permissions for the operations?

LibreCash wont operate with dollar or any fiat currency thats. Tokens will be backed with ETH or BTC or any other coin that will be added to the platform as a part of reserve fund. Thats why LibreCash does not need any specific licences or permissions for the operation. It is not a Tether that is operating with real dollar.

[Boooogieeee]

Whats about anonymity? How can I ensure that all my transaction data is secure and wont go to 3rd party companies or persons?
Im also curious whats about the KYC verification? Is it needed? Otherwise it provides big opportunities for laundering of money. U know it is quite urgent question and a lot of countries would create the obstacles for the project development if u wont follow all the measures against laundering of money

[kabackovas]

Whats about anonymity? How can I ensure that all my transaction data is secure and wont go to 3rd party companies or persons?
Im also curious whats about the KYC verification? Is it needed? Otherwise it provides big opportunities for laundering of money. U know it is quite urgent question and a lot of countries would create the obstacles for the project development if u wont follow all the measures against laundering of money

All the data will be stored directly in blockchain and wont go anywhere else. Moreover LibreCash will use atomic swaps tech that makes tracking the your financial operations impossible as no one knows what blockchain u would like to use.
As for the KYC I would also like to know the answer as it seems it has to be implemented for sure if project gonna be adopted worldwide.
Hope for the answer from the team

[DIXItip4ik]

Is it security token or utility one? Where all the profit from the team investments will go? Will it be distributed in the way of devidents or what?
And one more, what about taxes? If Im owning big amount of shares and LibreCash cap has grown a lot will I have to pay the taxes? U know u have not an ordinar token thats why I think better to clarify this moment in advance.

[antropogen0009]

How are u going to hedge the risks of lacking the liquidity?  Due to what the situation when u will have no money in reserve fund may happen?
Im curious if u are alrady familiar with all such occasions and did everything that is neded to prevent that.

[surtur001s]

How are u going to hedge the risks of lacking the liquidity?  Due to what the situation when u will have no money in reserve fund may happen?
Im curious if u are alrady familiar with all such occasions and did everything that is neded to prevent that.

The reserve fund will be stored within different blockchains. Such difersification is one of the ways of hedging the risks. Team is also lanning to use the escrows they to store some part of the reserve fund. It may be top exchnages.
Also team may use the limitation for token emission or remission. All these things are the ways how to prevent the liquidity crisis.

[karlos_545]

Is it possible in future to introduce to index or the futures for the LibreCash token? Like it is done for USD, EUR and other fiat currencies.
And one more question, how much funds that u would collected in the upcoming crowdsale u will allocate for the reserve fund?? Or all the funds will be alocated only for the development?

[Ridorie]

All the same I consider that in the future the project and the command will make success in the sphere. It is visible from outside that work nevertheless is conducted and it cannot leave just like that. Soon all work after all will affect the coin price.

[all_inman]

Is it possible in future to introduce to index or the futures for the LibreCash token? Like it is done for USD, EUR and other fiat currencies.
And one more question, how much funds that u would collected in the upcoming crowdsale u will allocate for the reserve fund?? Or all the funds will be alocated only for the development?

It is too early to speak about indexes for LibreCash, it has not event came into the market.
As for the second question, i think 50% or smth like that will be allocated for the reserve fund for the purpose of providing liquidity. It is kinda obvious I think because at the first stages liquidity it is the responsibility of the team

[johnywalkerrr]

Is the LBRS token share actually? or it is just the token that means u have the rights for some part of the reserve fund?
Is it possible LBRS to be traded on stock exchanges?
By the way in what jurisdiction u will operate? Where company that will issue tokens is registered?

[semiwylson]

Have u consdidered the opporunity of using side chains instead of atomic swap tech? I guess it is a little bit simpler, moreover there are several projects on the market providing advanced side chains.
Whats the benefits of using exactly atomic swaps??