Loopring

Loopring is an opened source protocol based on smart contracts for decentralized exchanges on the Ethereum blockchain.

About Loopring

Loopring is an open protocol for building decentralized exchanges, aimed to facilitate trustless, anonymous trading and standardize the incorporation of exchange functionality into dApps. With Loopring, trades are conducted via public smart contracts, while aggregation and communication of orders are conducted off-chain, enabling orders to be mix-and-matched via both order sharing and ring matching. Loopring will pool orders and fill them through the order books of exchanges that implement the protocol, allowing for greater cross-blockchain and cross-exchange liquidity and price availability. Funds always remain in user wallets and are never locked by orders, giving users complete autonomy and allowing them to make changes before orders are executed. Loopring’s system is blockchain agnostic (deployable on any blockchain with smart contract functionality). At this time, it is operable on Ethereum and Qtum, with NEO under construction.

Token Sale Use of Blockchain

Product

3.8
Product
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

4.0
N/A
4 - Beta or initial rollout.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

4.0
N/A
4 - Captivating.
Target User Base

Is it mass market or niche?

4.0
N/A
4 - Large audience / wide market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

3.0
N/A
3 - Some normal competition.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

4.0
N/A
4 - Original, specialized.

Product

* Loopring is an open source protocol which provides a decentralized, automated trade execution system that enables cross-chain and cross-exchange order sharing and ring matching while allowing traders to retain control over their funds. * Orders submitted through the loopring.io wallet are sent both to the smart contracts to off-chain relay nodes responsible for maintaining an order book and broadcasting orders to ring-miners. Ring-miners make sure that orders are filled through order rings, and in compensation receive either a fee in LRx or a split-margin on the final purchasing amount of an order, in which case they must pay the order creator the LRx fee. (Ring-miners will also share a certain percentage of fees with wallets.) Once an order ring is completed, the smart contracts evaluate and carry out the orders.
* Loopring does not really compete with exchanges, since its aim is to be implemented by exchanges (whether centralized or decentralized). [“We will release loopring.js as a major tool for exchanges and wallets to add support for the Loopring protocol.”] Competitors or comparable solutions include 0x, blocknet, Omega One, Kyber Network, Bancor, etc. Loopring’s ring matching is a differentiating characteristic.
* Latest developments according to Loopring’s Update? from 03/18/2018 [https://medium.com/loopring-protocol/loopring-bi-weekly-update-03-18-2018-70a4faea4d75] include: protocol v1.2 deployed on Ethereum mainnet; v1.3 to be deployed soon on both Ethereum and Qtum mainnet in parallel; LRN & LRN Airdrop smart contracts are being tested on NEO testnet (rewards offered for valid bug findings) and development started on NEO LPSC; entering the testing phase for the loopr wallet and preparing for its initial public release in April. It is also stated that Loopring has entered partnerships with Morpheus Wallet and O3, and that LRC was listed on Bittrex and UpBit.

Product Whitepaper

Use of Blockchain

4.0
Use of Blockchain
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

4.0
N/A
4 - Innovative use of blockchain technology.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

4.0
N/A
4 - Generally disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

3.0
N/A
3 - Issuing a custom token is justifiable.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

5.0
N/A
5 - Fully decentralized.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

4.0
N/A
4 - Captivating.

Use of Blockchain

* Loopring is an open source protocol for decentralized, automated trade execution with cross-chain and cross-exchange order sharing and ring matching. Relay system is off-chain but orders are carried out via smart contracts. Traders’ funds remain under their control in a decentralized smart contract on the blockchain.
* Loopring tokens are denoted as LRx, where LRC is the token on Ethereum, LRN is for the token on NEO, LRQ is for the token on Qtum. LRx tokens are not only used to pay fees, but also to effectuate protocol updates through decentralized governance. Token issuing and distribution policy is expected to vary with the target blockchain. LRx tokens have a fixed supply.
* The current relay infrastructure utilizes IPFS as a data layer; other options are to be assessed.

Use of Blockchain Roadmap

Whitepaper

4.4
Whitepaper
Comprehensiveness

Does it cover the full scope of the problem and solution?

4.0
N/A
4 - Satisfactory coverage, well written.
Readability

Is it easy enough to understand?

4.0
N/A
4 - Easy to read and understand.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

5.0
N/A
5 - Candid openness.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

4.0
N/A
4 - Clear, well thought out, realistic.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

5.0
N/A
5 - Thorough, viable, convincing, promising.

Whitepaper

Loopring’s whitepaper is academic in both content and format. It provides a detailed, thorough description of the protocol, ecosystem, exchange process and operations, the LRx token economy, as well as fraud and attack protections. Ethereum deployment smart contracts are provided in an appendix. The foundation’s plans as an enterprise are not discussed (no business plan), and future governance is only lightly addressed. However, the organization’s Medium site [https://medium.com/loopring-protocol] provides continual updates on developments and plans, partnerships, distributions, calls for contributions, etc. It is made clear in the 2018 roadmap (available via the Medium site) that Loopring on Ethereum remains the top priority (including implementation of decentralized governance), with a parallel focus on implementing the protocol on NEO and Qtum (and issuing new tokens for these). The Loopring Ecosystem Advancement Fund (LEAF), which has been set up to reward contributors and invest into DEX projects and companies, is also discussed there.

Whitepaper Compliance

Roadmap

4.2
Roadmap
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

4.0
N/A
4 - Down to earth.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

4.0
N/A
4 - Realistic.
Vision

Is there a larger, long-term vision?

5.0
N/A
5 - Paving the way for the future.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

5.0
N/A
5 - Available, trustworthy, recognized.
Current Position

Where is the project now, relative to its vision and plans?

3.0
N/A
3 - Getting there.

Roadmap

Loopring’s 2018 roadmap is given here [https://medium.com/loopring-protocol/loopring-2018-rnd-roadmap-33b423526669] and includes ERC223 support and hybrid trading, release of mobile wallets, implementation of decentralized governance, and implementation of the protocol on NEO and Qtum (integral to becoming truly cross-blockchain). NEO and Qtum integrations will require respective new tokens (LRN for NEO, LRQ for Qtum) to be issued. Loopring also plans to explore possible integration with zero-knowledge proof, improve the relay infrastructure, refine the ring-mining algorithms, and offer development tools for integration. The Loopring Foundation is setting up a Loopring Ecosystem Advancement Fund (LEAF), which will sponsor product development, technical research, and marketing in the Loopring ecosystem. Loopring has an active github with 32 repositories.

Roadmap Company and Team

Compliance

3.2
Compliance
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

4.0
N/A
4 - Distinctive use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

3.0
N/A
3 - Partly; compliance not fully assured.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

4.0
N/A
4 - Beta or initial rollout.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

4.0
N/A
4 - Specific, detailed.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

1.0
N/A
1 - None available.

Compliance

* LRx tokens are used to pay fees and to effectuate protocol updates through decentralized governance.
* No legal documentation / risk assessment / terms and conditions are provided.
* The LRC ICO was held in August 2017 and raised 300M CN¥ (45M USD).
* With regard to LRN and LRQ, it is stated that 30% will be privately sold to investors and 60% will be airdropped to LRC holders, while the remaining 10% will be kept for the core developers and LEAF – no ICO will be held for these tokens. It is also stated that there have been “2 rounds of LRN private sale (SAFT), with the price of 0.75USD/LRN for round 1 and 1.00USD/LRN for round 2”.

Compliance Token Sale

Company and Team

3.8
Company and Team
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

4.0
N/A
4 - Established with some fundraising history.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

4.0
N/A
4 - Verifiable relevant experience.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

3.0
N/A
3 - Mostly assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

4.0
N/A
4 - Well suited to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

4.0
N/A
4 - Good, sufficient for each aspect.

Company and Team

* Loopring is a non-profit headquartered in Shanghai and founded in 2017. The project raised 300M CN¥ (45M USD) in its ICO.
* Loopring founder and CEO Daniel Wang was founder and CEO of Coinport (a cryptocurrency service company) in 2014/5, has co-founded another couple of companies in Beijing, has experience as a senior engineering director or VP, and was Tech Lead & Senior Software Engineer at Google in 2006-2010. Co-founder and CMO Jay Zhou is also Blockchain & Cryptocurrency Expert at Zhongan Tech, used to work in PayPal’s Risk Operations unit in Shanghai in 2012-2014, and was an intern at EY. COO Johnston Chen’s LinkedIn profile was not found, but the website states that he was Chief Information Officer at 3NOD. The website lists 9 additional senior contributors (researchers/architects/developers) and 19 accomplished advisors (with experience in finance, blockchain, tech and AI), including NEO founder and Onchain CEO Da Hongfei. Most of the project’s github repositories have between 1 and 6 contributors, although the Protocol notably has 12.
* To support development, the Loopring Foundation is setting up a “Loopring Ecosystem Advancement Fund (LEAF) with up to 5% of LRC tokens each year for the next 4 years.” LEAF is an umbrella fund, with a sub-fund for each target blockchain. The purpose of the fund is to incentivize community contributors, including influencers as well as designers and developers, and to invest in DEX and related projects and companies. It is stated that LEAF currently holds both ETH and LRx, and that as of Feb 14, 2018, LEAF was valued at roughly 182 million USD.

Company and Team Product

Token Sale

3.0
Token Sale
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

2.0
N/A
2 - Somewhat greedy or unrelated to plans.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

3.0
N/A
3 - Justifiable.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

2.0
N/A
2 - Use of funds only loosely defined.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

4.0
N/A
4 - Most tokens sold, vesting periods on kept tokens.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

4.0
N/A
4 - Solid exposure and interest, good impression.

Token Sale

* During the LRC ICO, the min cap was 50,000 ETH and the max cap was 120,000 ETH (reached). Rate was 5,000 LRC / 1 ETH with a time-dependent bonus structure. Tokens sold were to comprise up to 50% of the total supply (depending on the amount raised, max cap was reached), and the remainder were to be vested over 4 years.
* With regard to LRN and LRQ (whose max supply is 1/10 of the LRC’s max supply), it is stated that 30% will be privately sold to investors and 60% will be airdropped to LRC holders, while the remaining 10% will be kept for the core developers and LEAF – no ICO will be held for these tokens. It is also stated that there have been “2 rounds of LRN private sale (SAFT), with the price of 0.75USD/LRN for round 1 and 1.00USD/LRN for round 2”. All LRx delivered in a single airdrop are to be partially locked for 3 years; each reference token holder will be able to withdraw 1/(3 x 365), or ~0.1%, of the LRx credited to his/her address each day. The funds for each LRx will be managed separately.

Product

* Loopring is an open source protocol which provides a decentralized, automated trade execution system that enables cross-chain and cross-exchange order sharing and ring matching while allowing traders to retain control over their funds. * Orders submitted through the loopring.io wallet are sent both to the smart contracts to off-chain relay nodes responsible for maintaining an order book and broadcasting orders to ring-miners. Ring-miners make sure that orders are filled through order rings, and in compensation receive either a fee in LRx or a split-margin on the final purchasing amount of an order, in which case they must pay the order creator the LRx fee. (Ring-miners will also share a certain percentage of fees with wallets.) Once an order ring is completed, the smart contracts evaluate and carry out the orders.
* Loopring does not really compete with exchanges, since its aim is to be implemented by exchanges (whether centralized or decentralized). [“We will release loopring.js as a major tool for exchanges and wallets to add support for the Loopring protocol.”] Competitors or comparable solutions include 0x, blocknet, Omega One, Kyber Network, Bancor, etc. Loopring’s ring matching is a differentiating characteristic.
* Latest developments according to Loopring’s Update? from 03/18/2018 [https://medium.com/loopring-protocol/loopring-bi-weekly-update-03-18-2018-70a4faea4d75] include: protocol v1.2 deployed on Ethereum mainnet; v1.3 to be deployed soon on both Ethereum and Qtum mainnet in parallel; LRN & LRN Airdrop smart contracts are being tested on NEO testnet (rewards offered for valid bug findings) and development started on NEO LPSC; entering the testing phase for the loopr wallet and preparing for its initial public release in April. It is also stated that Loopring has entered partnerships with Morpheus Wallet and O3, and that LRC was listed on Bittrex and UpBit.

Category Breakdown
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

4.0
N/A
4 - Beta or initial rollout.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

4.0
N/A
4 - Captivating.
Target User Base

Is it mass market or niche?

4.0
N/A
4 - Large audience / wide market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

3.0
N/A
3 - Some normal competition.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

4.0
N/A
4 - Original, specialized.
Product Score:
3.8

Use of Blockchain

* Loopring is an open source protocol for decentralized, automated trade execution with cross-chain and cross-exchange order sharing and ring matching. Relay system is off-chain but orders are carried out via smart contracts. Traders’ funds remain under their control in a decentralized smart contract on the blockchain.
* Loopring tokens are denoted as LRx, where LRC is the token on Ethereum, LRN is for the token on NEO, LRQ is for the token on Qtum. LRx tokens are not only used to pay fees, but also to effectuate protocol updates through decentralized governance. Token issuing and distribution policy is expected to vary with the target blockchain. LRx tokens have a fixed supply.
* The current relay infrastructure utilizes IPFS as a data layer; other options are to be assessed.

Category Breakdown
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

4.0
N/A
4 - Innovative use of blockchain technology.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

4.0
N/A
4 - Generally disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

3.0
N/A
3 - Issuing a custom token is justifiable.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

5.0
N/A
5 - Fully decentralized.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

4.0
N/A
4 - Captivating.
Use of Blockchain Score:
4.0

Whitepaper

Loopring’s whitepaper is academic in both content and format. It provides a detailed, thorough description of the protocol, ecosystem, exchange process and operations, the LRx token economy, as well as fraud and attack protections. Ethereum deployment smart contracts are provided in an appendix. The foundation’s plans as an enterprise are not discussed (no business plan), and future governance is only lightly addressed. However, the organization’s Medium site [https://medium.com/loopring-protocol] provides continual updates on developments and plans, partnerships, distributions, calls for contributions, etc. It is made clear in the 2018 roadmap (available via the Medium site) that Loopring on Ethereum remains the top priority (including implementation of decentralized governance), with a parallel focus on implementing the protocol on NEO and Qtum (and issuing new tokens for these). The Loopring Ecosystem Advancement Fund (LEAF), which has been set up to reward contributors and invest into DEX projects and companies, is also discussed there.

Category Breakdown
Comprehensiveness

Does it cover the full scope of the problem and solution?

4.0
N/A
4 - Satisfactory coverage, well written.
Readability

Is it easy enough to understand?

4.0
N/A
4 - Easy to read and understand.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

5.0
N/A
5 - Candid openness.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

4.0
N/A
4 - Clear, well thought out, realistic.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

5.0
N/A
5 - Thorough, viable, convincing, promising.
Whitepaper Score:
4.4

Roadmap

Loopring’s 2018 roadmap is given here [https://medium.com/loopring-protocol/loopring-2018-rnd-roadmap-33b423526669] and includes ERC223 support and hybrid trading, release of mobile wallets, implementation of decentralized governance, and implementation of the protocol on NEO and Qtum (integral to becoming truly cross-blockchain). NEO and Qtum integrations will require respective new tokens (LRN for NEO, LRQ for Qtum) to be issued. Loopring also plans to explore possible integration with zero-knowledge proof, improve the relay infrastructure, refine the ring-mining algorithms, and offer development tools for integration. The Loopring Foundation is setting up a Loopring Ecosystem Advancement Fund (LEAF), which will sponsor product development, technical research, and marketing in the Loopring ecosystem. Loopring has an active github with 32 repositories.

Category Breakdown
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

4.0
N/A
4 - Down to earth.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

4.0
N/A
4 - Realistic.
Vision

Is there a larger, long-term vision?

5.0
N/A
5 - Paving the way for the future.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

5.0
N/A
5 - Available, trustworthy, recognized.
Current Position

Where is the project now, relative to its vision and plans?

3.0
N/A
3 - Getting there.
Roadmap Score:
4.2

Compliance

* LRx tokens are used to pay fees and to effectuate protocol updates through decentralized governance.
* No legal documentation / risk assessment / terms and conditions are provided.
* The LRC ICO was held in August 2017 and raised 300M CN¥ (45M USD).
* With regard to LRN and LRQ, it is stated that 30% will be privately sold to investors and 60% will be airdropped to LRC holders, while the remaining 10% will be kept for the core developers and LEAF – no ICO will be held for these tokens. It is also stated that there have been “2 rounds of LRN private sale (SAFT), with the price of 0.75USD/LRN for round 1 and 1.00USD/LRN for round 2”.

Category Breakdown
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

4.0
N/A
4 - Distinctive use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

3.0
N/A
3 - Partly; compliance not fully assured.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

4.0
N/A
4 - Beta or initial rollout.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

4.0
N/A
4 - Specific, detailed.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

1.0
N/A
1 - None available.
Compliance Score:
3.2

Company and Team

* Loopring is a non-profit headquartered in Shanghai and founded in 2017. The project raised 300M CN¥ (45M USD) in its ICO.
* Loopring founder and CEO Daniel Wang was founder and CEO of Coinport (a cryptocurrency service company) in 2014/5, has co-founded another couple of companies in Beijing, has experience as a senior engineering director or VP, and was Tech Lead & Senior Software Engineer at Google in 2006-2010. Co-founder and CMO Jay Zhou is also Blockchain & Cryptocurrency Expert at Zhongan Tech, used to work in PayPal’s Risk Operations unit in Shanghai in 2012-2014, and was an intern at EY. COO Johnston Chen’s LinkedIn profile was not found, but the website states that he was Chief Information Officer at 3NOD. The website lists 9 additional senior contributors (researchers/architects/developers) and 19 accomplished advisors (with experience in finance, blockchain, tech and AI), including NEO founder and Onchain CEO Da Hongfei. Most of the project’s github repositories have between 1 and 6 contributors, although the Protocol notably has 12.
* To support development, the Loopring Foundation is setting up a “Loopring Ecosystem Advancement Fund (LEAF) with up to 5% of LRC tokens each year for the next 4 years.” LEAF is an umbrella fund, with a sub-fund for each target blockchain. The purpose of the fund is to incentivize community contributors, including influencers as well as designers and developers, and to invest in DEX and related projects and companies. It is stated that LEAF currently holds both ETH and LRx, and that as of Feb 14, 2018, LEAF was valued at roughly 182 million USD.

Category Breakdown
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

4.0
N/A
4 - Established with some fundraising history.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

4.0
N/A
4 - Verifiable relevant experience.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

3.0
N/A
3 - Mostly assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

4.0
N/A
4 - Well suited to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

4.0
N/A
4 - Good, sufficient for each aspect.
Company and Team Score:
3.8

Token Sale

* During the LRC ICO, the min cap was 50,000 ETH and the max cap was 120,000 ETH (reached). Rate was 5,000 LRC / 1 ETH with a time-dependent bonus structure. Tokens sold were to comprise up to 50% of the total supply (depending on the amount raised, max cap was reached), and the remainder were to be vested over 4 years.
* With regard to LRN and LRQ (whose max supply is 1/10 of the LRC’s max supply), it is stated that 30% will be privately sold to investors and 60% will be airdropped to LRC holders, while the remaining 10% will be kept for the core developers and LEAF – no ICO will be held for these tokens. It is also stated that there have been “2 rounds of LRN private sale (SAFT), with the price of 0.75USD/LRN for round 1 and 1.00USD/LRN for round 2”. All LRx delivered in a single airdrop are to be partially locked for 3 years; each reference token holder will be able to withdraw 1/(3 x 365), or ~0.1%, of the LRx credited to his/her address each day. The funds for each LRx will be managed separately.

Category Breakdown
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

2.0
N/A
2 - Somewhat greedy or unrelated to plans.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

3.0
N/A
3 - Justifiable.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

2.0
N/A
2 - Use of funds only loosely defined.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

4.0
N/A
4 - Most tokens sold, vesting periods on kept tokens.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

4.0
N/A
4 - Solid exposure and interest, good impression.
Token Sale Score:
3.0

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