On the basis of block chain technology, Lightning Ant Market is a decentralized trading platform on which uses can use digital currency to carry out time and commodity trading through social media.
On the Lightning Ant Market, users can sell their free time, purchase others’ free time and conduct trading and digital currency point to point exchanges.
The Lightning Ant Market has its own digital currency--Lightning Ant Pay. LAP is the only trading medium in this market and it also can be used to purchase other users' time or goods or to conduct currency exchanges.
The Lightning Ant Market will focus on two markets: e-commerce and time trading. It aims to construct a global decentralized time trading platform.
Lightning Ant Market will charge fees for its services, all LAP gained through service will not circulate n the market immediately. And 50% of the income will be transferred to a special account and will be locked permanently.
List your free time, what you can do and your hourly wages
Lightning Ant Market provides two ways of commodity trading: auction and fixed price
Digital Currency Trading
Allow users to exchange between LAP and USD, probably more currencies can be used in the future
Wallet And Payment
Users can create chat groups, send or receive LAP on the instant communication page
To ensure commodity is completely in compliance with national laws. Authenticate users’ identity, enable decentralized commodity review system. Users can monitor each other and can get rewards
Open Source Trading Engine
The trading module uses open source trading engine, all transaction input and output are transparent and the trading engine will be open source.
Lightning Ant Chain transferred the POW mechanism which commonly used by Bitcoin block chain to POWT mechanism(Power of Work Time). According to the calculation of nodes, the probability of mining is evenly distributed and the approval of miners’ participation is to ensure the uniform distribution of nodes and to manage the evil nodes to prevent the entire block chain from being kidnapped by miners
Wallet Protection Mechanism: Lightning Ant Market encrypts users’ wallet information and stores it locally, Lightning Ant Cloud does not deposit users’ wallet. Even the server is under attack which lead to account and password leakage, users’ fund can not be transferred as well.
The Lightning Ant Market uses a 2 of 3 approach (including both sides to the transaction and a middleman). When the buyer clicks on the purchase, LAP does not directly enter the seller's account or the guarantee account of the Lightning Ant Market, but instead transfers to a randomly generated multisig account, which requires two signatures of the private key to transfer the asset, and any individual signatures will be rejected by the block chain.
The amount of Lightning Ant Pay (LAP) is one billion. The Lightning Ant team will extract 50% of the unissued LAP which equals to 50% of the issued LAP as the shares for founding team and the remaining part will be released as rewards for miners.
50% LAP of the profit gained by the Lightning Ant Market will be permanently locked
50 million LAP will be used for operational and strategic cooperation rewards which will be released in two years, namely 25million per year.The release of LAP which owned by the founding team starts six months after the end of public token sales, it will need 18 months to unlock， which means 1/18 per month.
Token sale plans to raise 6,000 ETH, hard-top 8,000 ETH.
The token sales will receive BTC, ETH, QBT at the same time. LAP will be based on ETH. BTC and QBT will be exchanged instantaneous to LAP.
Token sales aims to raise 8,000ETH, 1ETH = 18,000LAP.The above ratio is calculated based on 1ETH = 1000 USD. When ETH price enhances 100USD, the Lightning Ant Market will adjust the LAP exchange ratio to protect the interests of investors.
In the Lightning Ant block chain, miners are only in charge of transaction verification and data storage. They don’t have the authority of minting. The reward for miners comes from the salary paid by Lightning Ant Market.
In the Q2 of 2018, the average salary standard for each miner is 30 LAP per day. Salary will be adjusted after April based on the node’s condition. The first group of miners shall receive the mining rights with a locked position of 24,000 LAP for now. Under the premise of sufficient nodes, we guarantee that the additional amount of currency through mining in circulation will be less than 3 million LAP.