Blockchain Related Applications Guide
Lore Free E-library Platform
Lore Free is listed on its whitepaper as a decentralized e-library developed on the EOS blockchain and uses the IPFS protocol distributed storage. Smart contracts deployed on EOS blockchain provides the infrastructure protocol layer, responsible for the operation of the economic system (tokens and Monetary policy), community governance, event monitoring, and service discovery.
With IPFS protocol distributed storage technology, the same document will only be kept once, reducing storage wastage and reducing storage costs. E-books and resources are stored permanently, indefinitely and will never be lost. The web will never be shut down and user rights are guaranteed forever.
Conventional E-book Providers
Lore Free's whitepaper stated that on the other hand, most existing free e-book sites are centralized and profitable through traffic advertising with advertisements popping up regularly and the user experience is poor. To add on, many websites on the internet are infected with various Trojans and viruses. If the user is not vigilant while surfing, personal privacy and account passwords may leak and cause unnecessary losses.
Lore Free’s Native Coins
Lore Free will release native cryptocurrency tokens on the EOS blockchain network with the distribution mechanism and circulation details open and transparent on the blockchain to avoid the possibility of manipulation.
The native tokens are used to incentivize users for contributing and reporting bad contents, for users to consume in order to download e-books, and play the role of the system economy (voting rights, dividends), promoting healthy development for the Lore Free community, encourage users to participate in community building and share community development results. In the future, with the development of Lore Free knowledge sharing community, the tokens will be used for more application use case.
LFC is the abbreviation of the Lore Free Coin, LFEE is the abbreviation of the Lore Free Ebook token (For Project Cold Start) and LFS is the abbreviation of the Lore Free Share (The equity token)
|Token Type||Token Name||Economy Purpose|
|General Token (For Project Cold Start)||LFEE: Lore Free Ebook||1. Only use for Project Cold Start and Mode Verification
2. Will be destroyed after Project Cold Start ended
|General Token (Official Period)||LFC: Lore Free Coin||
1. Token subjected to Inflation
2. Used to regulate the balance of supply and demand
3. Adapt to population growth and community behavior
4. LFC can be exchanged for LFS.
|Equity Token||LFS: Lore Free Share||
1. Equity Token, have community voting rights and dividends
2. Fixed amount, will never increase in numbers. Is embodiment of value for the Lore Free community.
3. Enjoy dividends and participate in major decision-making polls
Lore Free Ebook (LFEE) Token
Users participating in the network community building will be rewarded with LFC tokens (cold start period will be LFEE tokens instead) reward for contributing by uploading resources, completing tasks, reporting bad content, writing book reviews, reading, mining, etc. Through this open and transparent proof of contribution rules, blockchain technology is used to record the contributions of community users, motivate users to share content, and to contribute to the development of the Lore Free network and community.
The cold start period of Lore Free is 100 days with the goal to record 200,000 book titles for the community to complete. In order to encourage user participations in community building, 100 million LFEE tokens will be issued during the cold start period to reward contributions of active users.
After cold start period ended or the project target is achieved, the issued LFEE tokens will be mapped to become the 20% of the official eco-coin LFC and the unreleased LFEE tokens will be destroyed. Hence, the amount of LFC tokens to be initially released will be determined by the number of LFEE mappings.
Lore Free Share (LFS) Token
As a share equivalent token, LFS has a fixed number of 200 million coins and will never be increased. 30% of those tokens will be exchanged with Bancor and LFC. 20% for the Lore Free founding team option, to be linear released within three years. LFS is the equity token of Lore Free, holder of LFS token will have democratic voting rights and dividend rights.
Dividends: The LoreFree community will place all profits into the accounts of all LFS positions. The LFS and LFC exchange channels are always open through the Bancor exchange, and all community operating expenses will consume LFC instead of LFS.
Voting Rights: LFS token is the certificate of voting rights for the Lore Free community. All holders of LFS token are Lore Free’s citizens, enjoying legitimate rights while fulfilling obligations for the governance and prosperity of the network. When there is a need for adjustment of community rights, citizens can use their referendum tools to exercise their right to participate in democratic decision-making, 1 LFS=1 votes.
Lore Free Coin (LFC) Token
As the main circulation Token in the Lore Free system network, LFC (cold start period will be LFEE tokens instead) will be used for consumption and payment value, and used to reward various participants according to a contribution proof algorithm, encouraging resource sharing, community governance and content creation.
LFC Consumption Scenarios:
1. Exchange LFC for quota to download resource
2. Spend LFC to request for resource assistance
3. Spend LFC to reward resource providers and authors
4. Advertisers spend LFC to advertise on the platform
5. Users can exchange LFC for LFS via Bancor Exchange
LFC Inflation Model
The future of Lore Free is not only about resource-sharing, but content-creation as well. With more resources and contents emerging, the LFC team believes that the entire community will inevitably develop rapidly leading to the increase of value and consumption. Hence, they decided to configure LFC as an inflation currency.
Lore Free Team Vision
The vision of the Lore Free founding team is to create a global public e-library on the blockchain that allows people to freely acquire knowledge and share the best cultural achievements of humanity.