Bounty Program 15,000,000 LATX (5% of total supply
Bounty Program 15,000,000 LATX (5% of total supply
Bounty Program
15,000,000 LATX (5% of total supply) will be allocated for bounty programs.
WHITELIST AND GENERAL SALE
The LATX sale will open on November 15th, 2017 with a Whitelist sale. This will be a limited sale open to applicants who are accepted by the team. Anyone can apply, but only a select number of applicants will be chosen to participate in this phase of the sale. Rates during this phase will be static at 2,100 LATX per 1 Ethereum. The amount of tokens to be sold in this phase will be released prior to the opening of the sale. The goal of the whitelisting process is to ensure diverse token distribution and help mitigate market risk imposed by single large token holders. The Whitelist sale will end on November 28th, 2017 when the General Sale will begin.
The General Sale will open on November 28th, 2017. The general sale rate will be static at 2,000 LATX per Ether. A mild volume bonus structure will be released prior to the opening of the general sale. Any token sale supply not sold during the general sale will be burned.
TOKEN STRUCTURE AND ALLOCATION
180,000,000 LATX tokens (60% of total Supply) will be available during all phases of the token sale. Any tokens not sold during this period will be burned.
60% For Sale
20% For Adoption Incentives
15% For Founders Lockup
5% For Bounty Program
Platform Adoption Incentives
60,000,000 LATX tokens (20% of total supply) will be used for promotion once the Latium platform is in production. These tokens will provide incentives to sign up and use the Latium platform during the ramp up of production. New users will be allocated a certain amount of tokens to use within the Latium Ecosystem (cannot be withdrawn but can be spent on task creation). These 60 million tokens will be held in a lockup contract and released, according to a set schedule, for use in the system.
Founders Lockup
45,000,000 LATX (15% of total supply) tokens will be held in the founderís lockup contract for 12 months releasing on November 1st 2018. These funds will be used to expand the management team after production release in key areas and founderís equity. This amount is the maximum amount that can be withdrawn from the Lockup contract. The amounts actually withdrawn will be left up to the founders to decide up to the maximum allowed by the contract. This contract has been made available on Github for public review.
Bounty Program
15,000,000 LATX (5% of total supply) will be allocated for bounty programs. The following programs are included in this allocation: Wings (1% of total supply), General Affiliate System (up to 2.6% of total supply), General Bounty (1% of total supply) for bitcointalk members, Marketing Bounty (0.4% of total supply), such as promotional programs, Banner ads for 3rd party sites. The Marketing Bounty is an additional bounty campaign, not a guaranteed distribution and will be up to the management team who can receive this bounty. To apply for the Marketing bounty campaign, please, contact [email protected]
WHAT IS LATIUM?
Latium is the first and only tasking platform to incorporate a totally automated rating system in tandem with a one-to-many task relationship structure. This will allow a user to create a task for which they can hire one person, or many thousands of people, to complete the task. This all occurs within a trustless environment where all participants have transparency in whom they are working with. The platform will support both “Digital” and “In-Person” tasks. The Latium team has also designed proprietary task proof systems for both “Digital” and “In-Person” tasks, in order to remove trust from the equation while creating an environment where tasks with multiple contracts can be easily managed. In the case of a “Digital” task, imagine a user wishes to drive traffic to an online petition. By posting one simple Latium task, they can send as many people to the petition page as their budget allows.
Now, let’s look at an example of an “In-Person” task. Imagine a user is promoting a grand opening for a new restaurant. They post a new task with the details of the event and then approve applicants that wish to show up for a reward. As the applicants show up they must all scan either a printed QR code, scan a code on the task creator’s phone or stay within a certain GPS location for a certain amount of time in order to check-in to the event. Once the event is complete, they will scan an additional code to release payment for the task or auto release based on GPS. "In-Person" multi-contract tasks can be used for marketing events such as this, or even political or community driven projects.
The LatiumX (LATX) ERC20 token will be the established form of payment on the platform. Payment for tasks completed on the Latium platform will be credited in real-time using LATX, meaning the LATX coins will have to be purchased by employers in order to create new tasks in the system.
