*** Lobefy Token ***
LOBY is an ERC-20 utility token based on the Ethereum Blockchain that is used in all transactions within the Lobefy ecosystem. LOBY tokens can be used for multiple purposes such as crowdfunding campaigns, marketplace spending, and for peer to peer transactions.
*** Briefing ***
* CrowdfundingCrowdfunding globally revolutionized how startups and entrepreneurs approach business. It has opened the doors to those who otherwise could not have proceeded developing their dreams. Until now however, project donors have not been able to follow the development and outcome of the projects they fund. Current technology allows the integration of social media communities to expand the power of the crowdfunding model. The Lobefy ecosystem integrates a real time video stream to create an instant live community sharing and contributing to the dreams of everyone.
* Problem we are solvingUntil now, social media was based on profiting from data taken from its users. Crowdfunding sites are centralized organizations that charge fees and you never know where your donations are being spent. On Lobefy’s decentralized platform, users will own their data and are able to follow the distributions of crowdfunding campaigns. This increases transparency, promotes community involvement and reduces the project failure rate.
* How are we different from othersThere are many different crowdfunding sites to choose from. Lobefy provides variable settings for whether your projects reach benchmarks for funding and rewards and we allow versatility of many types of projects, support requests, ventures and interests. Our main difference is fees and accountability. At Lobefy, we demand no percentage for projects to advertise, reach their goal or require any fees to donate. All contributions go directly to the project they are pledged to and all projects are required to provide proof of how the funds were used. Thanks to blockchain technology, the public ledger will be available for all to verify.
* Benefits of blockchain technologyAccess and transparency to resource distributions increases credibility and community trust throughout the Lobefy ecosystem. This results in higher levels of project contributions and greater public involvement.
Project resource distribution is easily accessible to everyone and inspires the community members to become part of a growing movement.
Smart contract voting enables the community to vote on project outcomes.
Audit project expenses from inception to completion on a trustless ledger.
