What is it?
Most projects create tokens strictly for funding. They have zero use case besides raising funds via dumping on the market, creating violent inorganic price swings. Most teams hoard a large percentage of their supply and we at LootUp hope to change this paradigm by having no free founder tokens, no free team tokens or unbacked tokens. All tokens must be exchanged or earned. Users and adopters may exchange for tokens and investors may inquire for equity.
How does it work?
Most projects create tokens strictly for funding. They have zero use case besides raising funds via dumping on the market, creating violent inorganic price swings. Most teams hoard a large percentage of their supply and we at LootUp hope to change this paradigm by having no free founder tokens, no free team tokens or unbacked tokens. All tokens must be exchanged or earned. Users and adopters may exchange for tokens and investors may inquire for equity.
As a safety precaution to discourage market manipulators and flash crashes from exploiting and draining the $LOOT or $BTC supply, if $LOOT or $BTC is up or down more than 20% on the daily, the DGR will temporarily suspend transactions for a maximum of 30 minutes. Transactions will resume if it is still down 20% after 30 minutes or allow transactions immediately if it falls below the 20% threshold
How will it be funded?
DGR will initially be funded with sales from the exchange tokens,
as well a donation made from the LootUp private equity sale. We
will also create a leader board for future philanthropists to donate
to the world’s first decentralized global reserve and have their
name on a list for all to see. All of this combined with the growing
fees that the reserve will earn, will add value of the DGR as well as
act as a self-regulating mechanism for $LOOT.
Decentralized Global Reserve & LootUp
LootUp app will provide users with a service to interact with the DGR on their behalf in a seamless way and allow them to always get the lowest percentage fees (regardless if the token is in low or high demand). We accomplish this by either exchanging the tokens for them on the DGR or paying them out ourselves. This is another way we can ensure that users don’t drain low coin reserves. In theory, any business can use the DGR and offer the same service but we have the advantage of being sent fees from the DGR per transaction. LootUp will gain revenue from the DGR regardless of who is utilizing it, despite being essentially a third party.