What is LivenPay?
Liven is a universal rewards network with integrated payment facility aiming to consumerise cryptocurrencies for everyday people by solving hese problems. Since 2014 Liven has grown to service 350,000+ users transacting at 1,000+ venues in Australia’s two largest cities, Sydney and Melbourne, with international expansion beginning in Q1 2019 with London, UK. Processing millions in payments, Liven rewards users with our network currency for every transaction they make. Liven is already integrated with a number of key Point of Sale (POS) partners allowing it to each more than 20,000 venues. The next step in the evolution of Liven is the addition of blockchain to this payment system through the incorporation of an Ethereum ERC-223 token called LivenCoin, or LVN.
The unique features of the Liven Platform and the existing network of merchant partners and users will seek to address both problems identified above. First, the economic design of LivenCoin reduces price volatility through a unique, internal conversion rate which gives LVN intrinsic value – every LVN Token in circulation possesses purchasing power that can be used within the Liven Platform. Second, the addition of the cryptocurrency payment gateway will be unnoticeable to merchants, as they are still paid in fiat. These features combined with Liven’s presence in hundreds of venues and large, active user-base assists Liven to overcome the current barriers preventing cryptocurrency adoption at a retail level.
Liven’s decentralised rewards protocol is governed by a smart contract which will enable rewards to be disseminated indefinitely despite a limited LVN Token supply, and encourages corrective behaviour with any external markets that may arise, giving the stability necessary for everyday use. LVN Tokens earned by transacting can also be donated directly to a charity.
The LVN Initial Coin Offering will offer for purchase 3 billion of the 10 billion LVN Tokens created to raise $28M USD. Approximately $8.4M will be set aside to cover the redemption/spending of the distributed tokens in the short term. The balance $19.6M will be allocated towards (i) fuelling Liven’s rapid global expansion starting with the UK and (ii) developing the new cryptocurrency gateway.