Community Vote #2 - Vote Outcome & What's Next?

. 3 min read

Last week we saw the second community vote take place here at LocalCoinSwap. The vote was to decide on the Referral Program for our cryptocurrency exchange. Would we have a referral program and if so, how would it be structured? With a total of 4 options, one of which was no referral at all, a winner was voted and the community spoke. The beauty of LocalCoinSwap is that it is owned by shareholders - The LCS Cryptoshare holders. This means a voice, a choice and a role in the direction of the company for important operational matters.

The results of the vote were tallied and the community voted for option 1 with a large majority win. This is a significant option as it is the referral program that benefits not only the referrer but also the referee!

Option 1 is the Winner!

The wining option was Option 1, the tiered referral programme. This referral program has major benefits to all LCS Cryptoshare holders with rewards getting higher based on your holdings. For any LocalCoinSwap investors, holding more than 24999 LCS there is a larger bonus and the bonus increases for the referrer, the more LCS you hold. In all instances the referral bonus is divided between (1) the referrer and (2) the referee so sharing the referral code eliminates that feeling of using someone else to gain based on your efforts. The referrer (the person giving the link to sign up) and the referee (the person who signed up with the link) are both winners with the referee getting a guaranteed 10% from the 1% market maker fee on every trade they make!

The bonus for holders of LCS Cryptoshares is tiered as below.

- 20% total bonus for referrer holding between 0 - 24999 LCS‌‌‌
- 30% total bonus with the referrer holding between 25 - 50k LCS‌‌
- 40% total bonus with the referrer holding over 50k LCS‌‌
- In all above cases, 10% goes to the referee and the rest to the referrer irrespective of their holding of LocalCoinSwap cryptoshares!

This program as you can imagine will incentivize those serious referrers to maximise their return by buying and holding more LCS cryptoshares and was another benefit discussed within the community. With the potential to increase demand of the cryptoshares and fair price value this is always a plus to investors.

How does Referral work if I hold no LCS Cryptoshares?

If you hold no LCS Cryptoshares and you trade with my referral link, I get 10% of the 1% trade fee and you get 10% of the 1% trade fee!

The beauty of decentralisation

The powerful call of cryptocurrency is that it is decentralised. A system created to take out the middle man and with promises of freedoms and equality at both local and global levels. It is trust-less, there is no need for an intermediary, and it is peer-to-peer.

From A to B seems simplistic yet it was hard to achieve until now. The number of layers and use cases of this simple trust-less system are many fold but none so important as the act of voting. Not everyone may not see the historic importance of what took place however the people who voted used their cryptocurrency for more than just a speculative asset. You used it for a fundamental freedom and right. It is a proof of the strength of cryptocurrency and a proof of the strength of your investment. When purchasing LCS Cryptoshares you took an internal financial vote and bought into a crypto exchange. An exchange that even during the bear market, keeps building, keeps listening and keeps pushing forward every single day.

Your voice matters, your voice has a true intrinsic value with LCS cryptoshares.

The LocalCoinSwap team are proud to be working with such a community and on such an awesome project. They are proud to be a part of this journey with you! Every bit of community feedback is gathered and listened to and this request to vote was one of them. In a market where projects do not listen, or worse still do not even build anymore the team want you to know they are not cut from the same cloth. They are dedicated to you and the project. LocalCoinSwap is going to continue moving forward, until every voice and every locality can have their share of this fundamental benefit cryptocurrency has to offer.

Most exchanges offer speculation, LocalCoinSwap offers freedom. Your voice mattered and it was a big deal. Remember that point through this bear market, as we go from strength to strength sailing to fairer shores for all!

From all the team, thank you! Lets make this exchange great together and connect everyone to a place where your referral signup benefits all involved NOW!

Want to get some LCS cryptoshares and join the rest of the community? LCS cryptoshares can be bought on the exchange here - for direct P2P fiat purchases or here on for a LCS/BTC pairing.