The Lightcash project’s team, the first entirely legal system for fiat and digital money exchange and management, has announced the start of its ICO. The token sale has started on March 12 and will go until April 11.
Lightcash users can use the platform to exchange fiat and digital money with low commission, as well as send payments and initiate SWIFT and SEPA money transfers. There is also an internal exchange for investing in Top-100 cryptocurrencies. In addition, users can open token deposit accounts and earn interest.
To ensure the stability of the Lightcash system, an internal low-volatile cryptocurrency will be released, Lightcash Crypto Gold (LCSH), which will be backed by real gold mined from precious metal deposits in Russia in a 1000:1 ration. This means that 1000 LCSH will equal one gram of gold. Lightcash has its own gold mining company "Lapri Mining" LLC, a gold deposit in the Amur region of Russia, and has obtained all necessary state-issued licenses and permits for gold mining and processing.
The Lightcash parent company is registered in Belize. An additional licenses for money transfer services, payment processing, and financial and commodity-based derivatives trading will be obtained from the International Financial Services Commission (IFSC) of Belize. As a result, the project will operate under English law.
"Right now our infrastructure for gold mining and processing is not working at full swing,” explains Ligthcash CEO, Vyacheslav Vokin. “To acquire additional funding to purchase new gold deposits, we will carry out an ICO and issue Lightcash Crypto Tokens (LCCT). Investors have been showing a lot of interest in this ICO because it is backed by gold – there are not many tokens out there that can say they are backed by a real asset."
A total of 210,000,000 LCCT tokens will be issued. The price of one LCCT is 0.0002 ETH. During the ICO, 25% of all tokens will be sold. Sale participants will be able to buy tokens with a 30% discount, with a minimum purchase of 0.1 ETH. Some 60% tokens will be sold via the main ICO, which will take place from March 12 to April 11. During the closed Private Sale of LCCT tokens for whitelisted buyers which was held from March 2 to March 5, the project team managed to acquire $700,000+.
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