LocalCoinSwap announces first community vote

As you surely have noticed, there has been a significant downturn in the value of Ethereum and other cryptocurrencies.

When we first calculated our token metrics, the price of Ethereum was over USD $1,000. Accordingly, we pegged the price of LCS Cryptoshares to 0.0004 ETH, a price that would allow us to raise the necessary funds to reach our target hardcap.

Screen-Shot-2018-04-06-at-6.53.42-pm

As of now, the value of Ethereum has dropped to USD $366. A price that directly affects reaching the hardcap and bonus stages. Early ICO investors have also paid a significantly higher price in USD terms than later investors will need to pay.

To rectify these problems and turn the downturn of cryptocurrency into an opportunity, LocalCoinSwap is now officially announcing the first community vote. LCS Cryptoshare holders will vote to decide on whether to peg the price of LCS Cryptoshares to USD 40c. This will not only allow the hardcap and bonus stages to be reached, but will also preserve the value of early stage investments.

To all community members:

Voting tokens have been distributed in a 1-to-1 basis and are already in your Cryptoshare holding wallets. The vote will close on Monday the 9th of April at midnight, at which point the token will be frozen

To add the voting token to your wallet please use the following details:
Contract address: 0xDa58C06b2ACbB32c647b245ae85621efcc626dCE
(Coinomi contract address: 0xda58c06b2acbb32c647b245ae85621efcc626dce)
Symbol: LCSV
Decimals: 18

Use a gas limit of 70000 to ensure they send properly.

(A step process for Coinomi and MetaMask users has been added to the bottom of this article)

To vote to peg the price of Cryptoshares to USD, send voting tokens to:
0x0000000000000000000000000000000000000001

To vote to keep the price of Cryptoshares pegged to ETH, send voting tokens to:
0x0000000000000000000000000000000000000002

The LocalCoinSwap team will implement whichever decision you decide on together as a community. No voting tokens have been issued to the team and we will stay completely impartial on this issue. We will not influence anyone's decision, because it's your choice - not ours.

Want to follow the voting action?

You can follow the voting live by viewing the LCS voting tokens being sent to each address.

Change to USD:
https://etherscan.io/token/0xda58c06b2acbb32c647b245ae85621efcc626dce?a=0x0000000000000000000000000000000000000001

Do not change to USD: https://etherscan.io/token/0xda58c06b2acbb32c647b245ae85621efcc626dce?a=0x0000000000000000000000000000000000000002

Please note: this vote is being taken before the platform launch and so is purely Blockchain based. After the platform launches, we will be providing an integrated dashboard to simplify the voting and dividend process.

How to vote for Coinomi users
Courtesy of community member Gb Learn

  1. Menu
  2. +Token
  3. Ethereum
  4. Selected not in list, add manually
  5. Contract address as copied, all small letters 0xda58c06b2acbb32c647b245ae85621efcc626dce
  6. Name, "my LCS voting Tokens wallet", or anything you like
  7. As guided in email, Symbol: LCSV and Decimals: 18
  8. A new coin appeared portfolio with balance equal to my LCS wallet. While my LCS wallet has same balance also
  9. I opened newly created "my LCS voting Tokens wallet" and sent one token to given voting address.
  10. After confirming that voting didnt affect my original LCS, I again sent all LCSV voting tokens to voting address for USD pegging 0x0000000000000000000000000000000000000001
  11. Enjoy, as it cost zero amount in ETH or LCS

How to vote for MetaMask users

  1. Click the menu button with the 3 lines on the top left.
  2. Click "ADD TOKEN"
  3. Click "Custom Token"
  4. In "Token Address" Paste 0xDa58C06b2ACbB32c647b245ae85621efcc626dCE
  5. In "Token Symbol" Type "LCSV"
  6. In "Decimals of Precision" Type "18"
  7. Click "Next"
  8. To vote for the USD peg send your LCSV to
    0x0000000000000000000000000000000000000001
    To vote to keep the peg with ETH at the current price, send your LCSV to
    0x0000000000000000000000000000000000000002


comments powered by Disqus