LOVR - Ethereum Powered Cryptocurrency Ecosystem
Welcome my friends to an exciting new Project today and let's take a look at their great idea:
Lovr is an Ethereum powered cryptocurrency ecosystem for the online and offline adult industry. We are enabling the consumers in the adult industry to use cashless payment in an anonymous, secure and fair way.
Online Adult Industry Market
The adult entertainment market of today is driving innovation and emerging fast. Whether it be the invention of the Internet-of-Things (IoT), online platforms for streaming and chatting, or the ability for merchants to sell love toys online, one thing is evident; unconventional sexuality is becoming more widely accepted and the demand for new inventions associated with this growing acceptance is in high demand. While free-to-view streaming sites finance themselves with advertisements, paid content websites let the users pick monthly or onetime-payment plans.
The adult services industry, both online and offline, faces a variety of problems when it comes to payment processing. Where major banks and payment providers simply decline processing payments for adult entertainment providers, other companies leverage this opportunity to charge high fees on transactions leaving the industry with few choices when it comes handling payments. Within the last few years a new possibility of payment processing emerged: Blockchain.
LOVR Ecosystem / Applications
The concept of LOVR has convinced supporters from all over the world to join in the vision of creating a better future of payment processing in the adult industry. Where businesses in the online adult industry have emerged over the last years in technology, even still with discriminatory fees, business flows in the offline market have almost seen no changes at all.
Basic Payment System
The LOVR Basic Payment System is a condensed Smart Contract, which leaves room for a wide range of use-cases for transferring payments in a safe and anonymous manner. The LOVR Basic Payment System is not tied to a specific use-case, e.g. live-streaming, but instead allows for all kinds of payments in the adult entertainment industry. Leveraging partnerships with payment channel providers such as Raiden will allow us to process off-chain payments in realtime. We will develop APIs and applications that simplify payments processes both online and offline which will ensure that fees are kept to a minimum.
The LOVR X-Change will allow both consumers and merchants to seamlessly exchange traditional currencies like USD/EUR and other cryptocurrencies into LVR and vice versa. With this approach we are able to target a broader audience by delivering convenience to consumers and traders alike. We achieve this by integrating LVR with online cryptocurrency exchanges and payment processors.
Today cash is the preferred payment method in the adult services industry due to its anonymous characteristic as cash payments are very difficult to track. With that being said, there are still many people who pay for adult services using credit cards due to the fact they are convenient in nature. The LOVR eWallet will combine both the possibility of issuing anonymous payments while also keeping the convenience of paying cashless, with just small fees less than 1%, which are essentially Ethereum network bounties.
LOVR Network Booking Platform
When we are talking about the adult services industry, we are essentially talking about the offline adult services industry. This is because there are currently no real and workable solutions for booking adult services online without media breaks, like calling or texting a mobile number. Even if there were real solutions for booking adult services, high surcharges would be obligatory through traditional payment processing methods. Adult services providers suffer greatly from high cancellation rates, most even without notification, leaving them to wait for a rescheduling or not getting paid at all. This will change with the LOVR Booking Platform, an online booking platform for adult services.
The main features of LOVR Booking from a service provider’s view are:
- Appointment management
- Statistics Manager
- Cost-efficient transactions
- No Chargebacks
- Financial Overview
- Profile Manager
The LVR Token is compatible with the ERC20 token standard and therefore running on the Ethereum blockchain. The premise of LVR is that it will enter a transaction mechanism between sellers and buyers through crypto exchanges and between parties of the adult industry. Liquidity of LVR Token will rise, as demand rises and it goes into constant usage.
Payments via LVR Token will carry the security known to blockchain systems and information will be kept private through security encryption. During the ICO, Token transfers will be only allowed to LOVR. The LOVR Genesis contract will mint a total supply of 1.000.000.000 (one billion) LVR.
All funding rose from the ICO will go into the development of the LOVR Ecosystem / Booking platform and putting our marketing efforts to help LOVR reach the vision to change the adult entertainment industry.
Pre-ICO | Pre-Sale
The Pre-ICO starts on the 1st March 2018 and ends on the 31st May 2018.
The Pre-ICO is necessary finance development and marketing for the main sale (ICO) in order to promote awareness of our business and to increase brand-awareness of our products. During the PRE-ICO, LVR tokens will be sold at a discounted rate, after which a marked up and permanent price will be enabled during the main ICO. Participating in the Pre-ICO is your chance to join the movement from the beginning and get access to the discounted token price and exclusive perks only available to Pre-ICO buyers.
During Pre-ICO a maximum amount of 25.000.000 LVR will be sold. In the case that not all are sold during the Pre-ICO event, the remaining tokens will be added to the main sale. During the PRE-ICO, only Bank Transfers and Ethereum Transfer to an Ethereum Wallet will be accepted.
The reason for this is that we want to provide the highest security for the Ethereum Smart Contract within the ICO and the PRE-ICO as this will mainly target the inner circle investors of the team around LOVR. Due to law regulation, you must register on LOVR’s ICO website and follow the steps required within our KYC-Process (Know-Your-Customer) before you can invest and buy LVR tokens.
Within the Pre-ICO, the following investment rates will be available to the investors: