A storm has hit the investment market which we are not going to recover from. Crypto investment is that storm. With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.
While this revolution is gaining wide acceptance, eLYQD, a market platform that allows everyone to create an online store, including the option to pay for the vaping products with Crypto currencies and eLYQD tokens, which will benefit from the most advanced technologies in e-commerce has arrived.
Now that I have your attention, let’s get right to it.
What exactly is eLYQD?
eLYQD is a decentralized ethereum based ecosystem marketplace that will be the framework for the entire vaping industry. One of the main features of eLYQD is the use of blockchain technology, which allows making the platform transparent, open and as safe as possible for both transaction parties, reduction of transaction and business costs, and simplifying of the purchase process.
Furthermore, eLYQD is a platform designed to allow vaping industry manufacturers to create an online store that will make good use of the most advanced technologies in the e-commerce field, and providing the vaping community the freedom of choice and the option to pay for products with LYQD tokens, fiat or cryptocurrencies.
The eLYQD marketplace will increase the efficacy of all business interactions by freeing them from all kinds of middlemen and making those interactions immediate, transparent, secure and mutually beneficial. This vision will be achieved by creating a fast blockchain-based decentralized ecosystem and organizing user interactions on the peer-to-peer basis.
The goal is to connect e-liquid producers all over the world and supply the tools needed to launch a single sane platform to the global market without businesses, minimum transaction fees and financial limits, agents or annoying bureaucratic routines. They will bring together manufacturers to create their own economic Crypto trading that will bring e-commerce to a new level.
"These are few of the PROBLEMS eLYQD is offering solutions to:
Full product range — either expensive or not available
Cross-border payments for vaping products
Payment Verification or denial
Record keeping and security
Consumers have access to brands from all over the world 24 hours a day, 365 days a year, wherever they are.
LYQD tokens allow users to send and receive payment globally in minutes, eliminating the risk of nonpayment and costing a tiny fraction of the total.
eLYQD blockchain will facilitate immediate fund transfer into escrow accounts. All constituents can manage escrow accounts through smart contracts.
The eLYQD recordkeeping app will allow for simplified electronic record creation and store this data on a decentralized anonymized network that is significantly harder to hack and leak
The eLYQD system will eliminate points of potential breakdown. eLYQD smart contracts will (a) ensure that transitions occur smoothly and (b) keep immutable records of actions taken by all constituents
eLYQD requires proof-of-order, time/location stamping of the actual transaction, and undisputed hash records of all steps executed, from order, billing to shipping.
The eLYQD network will record all transactions, positive actions improve a user’s reputation. The risk of a negative review motivates all parties to remain honest. eLYQD's blockchain-based decentralized network will provide a platform for the next generation of peer-to-peer (P2P) apps to support and record all constituent interactions in the value chain, with proof of completion and compliance at each step."
These quotes above(The Problem and The Solution) are gotten from the eLYQD Website - https://www.elyqd.world/
Access to global market
Large clientelle worldwide
Opportunity to sell various goods
Marketing cost reduction
The eLYQD ecosystem will be used by mass consumers and product manufacturers, from all around the world.
Distributed blockchain ensures total transparency and verification of each transaction, including detailed product characteristics, its price structure, relevant circumstances of the sale, as well as reputed profiles of the sale parties. The eLYQD ecosystem will be deployed on the Ethereum platform.
The peer-to-peer principle of interaction within eLYQD will allow all participants to interact directly. This removes middleman-related costs. The price of a product or a service will be passed over to the manufacturer in its entirety. The end-price of a product will only contain real production costs and a fair margin.
ELYQD UTILITY TOKEN
Payments within the eLYQD ecosystem will be effected in the system's own crypto-tokens—LYQD, ERC20-compliant. The function of the token will be to reward users for active use of the ecosystem and contributions to its development (rewards include several types of crypto-paybacks, loyalty, promotions).
In the case of a dispute between buyer and seller, an arbitration service is available. We encourage sellers to choose an arbitrator, as it increases the trust level for buyers and also the probability that purchases will be made. If both parties dispute a transaction, the seller will pay the arbitrator out of the escrowed funds. For buyers, arbitration is always free of charge.
Every seller and buyer will have a reputation rating derived from their conduct during every transaction. Users with a low or negative reputation score may be filtered out, in order to protect other users from fraud and wasted time. This reputation system will encourage legitimate merchants and customers to act honestly and to build up a solid reputation.
Ether, like all cryptocurrencies, is volatile, changing in value on a daily basis, relative to national currencies like the dollar and the euro. eLYQD will develop an integrated payment system that works like ether, but converts to currencies at a ratio of 1:1. Finally, items can be priced in a national currency, and you will know exactly how much you're spending or being paid.
THE CRYPTOCOMMERCE ECOSYSTEM
Within the eLYQD ecosystem, brands, consumers, arbiters, distribution and shippers interact directly with one another. Transactions are powered by LYQD and therefore they are fast, secure and transparent. There is no need for intermediaries that exist in traditional vaping ecosystems. eLYQD will retain all the value generated by the community within the ecosystem.
The Business model
eLYQD is a platform for buyers and sellers from all over the world. With an easy-to-use online platform, any manufacturer can make use of the broad features of the platform by creating their own stores to sell their products for a minimum fee.
Their service offers free-running users, small-scale manufacturers, multinational companies, direct customer feedback, accounting, sales analysis, advertising and publicity, as well as excellent opportunities to have a user-friendly interface.
Elyqd's income model is fundamentally different from traditional e-commerce platforms. Traditional e-commerce platforms usually charge a fixed fee along with a commission fee sometimes over the selling price. Buyers may also have to pay for PayPal or other payment processing solutions.
ELYQD TOKENOMICS AND ICO DETAILS
"The fundamental unit of value within the eLYQD marketplace is the LYQD Coin token (“token”), backed by the vaping industry. Tokens provide non- volatile, inflationary - resistant digital value within the eLYQD marketplace.
The LYQD token will be derived from a standard Ethereum ERC 20 token and will be tradeable on exchanges. The eLYQD platform offers the vaping industry a sharing -economy marketplace without country borders, intermediaries, or central hubs.
Here, transactions between manufacturers and consumers are routed through a decentralized peer- to-peer network.
The distribution will be carried out through a smart contract. Raised funds will be used to launch the platform,integrate the token and finance promotion and marketing.
Depending on the raised sum, they will execute the project on different levels. Integrated within the Ethereum smart contract, it will serve as the utility token of a decentralized autonomous organization – known as elyqd world platform. LYQD token will act as the underlying fuel driving all components to perform effortlessly while maximizing the benefits by providing the lowest pricing in the industry."
These quotes above(The eLTQD Tokenomics) are gotten from the eLYQD Whitepaper - https://www.elyqd.world/assets/files/white-paper.pdf
Price - 0.0054 USD
Token Sale Structure
2018 › An idea is born. A decentralized marketplace exclusively for the vaping industry › Bringing some serious change through our direct to consumer marketplace
Q3 - Q4 2018 › Funding for development › Launch of the marketplace via sale of LYQD tokens
Q1 2019 › Development of an alpha version of the marketplace testing › All connections made through HTTPS › Escrow & Arbitration smart contracts › Universal search bar › Blockchain caching system › Free, private image uploading › Unencrypted chat system › x2 Geth and caching nodes
Q2 2019 › Blockchain caching system › Free, private image uploading › Unencrypted chat system › Public beta testing › Localization in 20 languages › Error reporting system › Status.im integration › Web version & filtering system › Importable theme system › Shipping provider integration
Q3 2019 › Escrow app & arbitration providers › Importable theme system › Naming system, Sigs & Nametags › Reputation system › Shipping provider integration › Variable and safe-low gas cost › Reputation system › Mobile apps for iOS and Android › Additional shipping provider integration › Storefront system › Bulk inventory upload
Q4 2019 › Live desktop app for escrow and arbitration › Live Status.im app › Live web version › Integrated encrypted chat system › Filtering system › Variable and safe-low gas cost › Complete Geth and caching node network › Storefront system › Bulk inventory upload › Additional languages › Fiat payment system
MEET THE AMAZING TEAM
Be a part of this incredible project. Download the whitepaper for the full scoop.
Till next time…
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Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.