Litrabit
Litrabit - The Token for Every Student preICO preICO
1,453.00 Soft Cap, ETH
0.00 Hard Cap, ETH
18 May, 2018 - 30 May, 2018 Длительность кампании (UTC)
510
1,039.03

 What Is LitraBit?

LitraBit is an ERC20 token, a cryptocurrency based around the successful Ethereum Blockchain. That will replace traditional cash in the educational ecosystem. It aims for a future where most if not all transactions on a college or university campus take place in LitraBits. So students can use their owned tokens to pay their fees or pay cafeteria bills, even make transactions among themselves. 
We also aim to introduce this system to all the big book/stationary retailers so a student does not need anything more than a smartphone and LitraBit wallet when on campus or anywhere related to his/her education to make any financial exchanges. These transactions can be made through your regular Ethereum wallet or the specialized LitraBit app, which should be made available on all major smartphone platforms.

Why Litrabit?

As the economy worsens over time and the cost of education rises all around the world, Education becomes a luxury that not everyone can afford. The answer we found to this problem came from the recently booming cryptocurrency ecosystem. Why not apply this decentralized currency system to the cost of education? So that students can get quality education reliably without the stress of their assets losing their worth over time because of a troubled economy, and that student can rely on a decentralized universally accepted currency that can be exchanged for education related services. 

OUR GOAL: To Implement a SINGLE Token for all of a students education related expenses. So a Litrabit wallet is all a student needs when on campus or anywhere related to his education anywhere around the world.

BENEFITS OF A CRYPTOCURRENCY OVER TRADITIONAL CASH:

  1. Assurance: Resource ownership is ensured by the blockchain innovation, which gives carefully designed decentralized store of records. Which means there can be no fraud, counterfeiting or theft of resources that goes undetected.

  2. Security: A crypto currency wallet is secure with you and you are the only one who can give access to others. 

  3. Liquidity: There aren’t major discounts or premiums attached to the buy or sell of an assets of Cryptocurrency.

  4. Changelessness: Once Created Digital Currency exists in a fixed number which cannot be manipulated or changed later. Which enables it to sustain its value.

  5. Price Discovey: LitraBit assets are Ethereum based and freely tradable on digital currency exchanges, ensuring price transparency and discovery of current value.

  6. Availability: Cryptocurrency exists on digital platforms which will allow anyone to make a transaction anytime, its available 24/7 without bank holidays and time limitations. 

  7. Universality: One of the main benefits for implementing a single standard in the whole educational ecosystem is universality as it allows a global standard to exist allowing students or users from any corner of the world to access any service anywhere they want. 

  8. Lower Fees: Since multiple 3rd parties will be taken out of the picture with a decentralized blockchain based currency, which everyone has access to. This will result in lower cost of services.

What are the key Features and Services provided by LitraBit?

Use in the Education Ecosystem:
We are going to offer the first ever blockchain token system to the educational ecosystem, making it easier and cheaper for students to pay dues and make all the necessary transaction that are required to keep their educational process going. It will include paying the institutional fees, cafeteria bills, hostel dues, receiving scholarships, buying books and lab equipment, making personal transactions and much more. 

Use in all major Book Shops:
We are also aiming to get all the major book/stationary retailers along with all educational services providers on the platform, so a LitraBit token is all a student needs to pay for his/her educational needs. 

LitraBit and 3rd Party Scholarships:
In the near future after we have the complete system in place, one aim is to create incentive for its use by making scholarship bonuses available to students who are loyal to the system and keep good academic standings throughout their semester who will be evaluated on the basis of their subjective needs. This scholarship will be paid by a certain percentage to the LitraBits revenue after the project has achieved initial success. And to make this a truly universal currency we are not just focusing on educational institutions to accept this currency but to also initiate payments in the form of LitraBits for which purpose we will aim to form contracts with scholarship providers to pay their scholarships in LitraBits. So that a student does not have to go through the hassle of exchanging currencies when he receives a stipend or scholarship. 

INTERFACFE

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LitraBit Wallet app: 
This will be a specialized app specifically designed for trade in LitraBit cryptocurrency provided on all major mobile platforms. This will include features such as Peer to Peer transaction, Automated University Fee/Dues Log, Applicable Scholarship Details and Information, Services Payment Options and many more services that enhances ones experience in education related activities. This app will also allow students to Buy LitraBits through their already owned Ethereum and Bitcoins. But since LitraBit is a company aiming for universality they will also allow LitraBits to be traded through any ERC20 based wallet.


LitraBit Debit Card & Cash Debit Card:
It is a fact that a student cannot take his mobile phone everywhere such as an exam hall where bringing in a digital device is strictly prohibited, but a student can have a need to make a financial transaction anywhere anytime. For this purpose it will be a mistake to limit the LitraBit transactions to only a single device such as a smartphone, the solution for which will be introduction of a specialized LitraBit Debit Card which will be directly linked to the users LitraBit Wallet. A card that can be used for any shop or service provider through LitraBit Card Payment machines. LitraBit also aims to implement a system so that when a student is in a situation where he/she needs other non-crypto forms of currency such as a US Dollars, they can easily use a LitraBit Debit Card at an ATM and exchange the LitraBit tokens at the current exchange rates.   

How exactly will this currency be used ? 

Since LitraBit is an ERC20 based token, it can be used as any other Ethereum based token to get services or traded for other Cryptocurrency. But the main implementation for its use is going to be in the Educational Ecosystem. The students will use the token with the help of the LitraBit specialized app/wallet or any other Ethereum wallet that will allow them to trade from peer to peer or with an institute wherever a financial transaction is required. They will use this currency to pay bills at the cafeteria, pay fees and dues or pay for other services such as a library or a stationary shop. Third party Educational institutes will also be incorporated into the system e.g. a Scholarship program or major Books / Stationary retailers so they also perform their transaction in LitraBits and LitraBit can achieve its goal of truly becoming a universal educational currency. LitraBit will also implement the LitraBit ATM card and the LitraBit Cash Debit Card. 
 

BUISNESS IMPLEMENTATION PLAN.

After the ICO stages are complete, LitraBit will start to form contracts with universities and institutes to incorporate them into the system. This contract will request from a university or an institute that a LitraBit Agent be allowed to work in its premise. These agents will be LitraBit employees paid by LitraBit itself. The second demand will be that the university/institute allow the students to pay fees and dues in LitraBits. In return for which LitraBit will promise the universities a share from the revenue generated from that institute in either LitraBits or Money - as the individual contract demands. And LitraBit will also promise to buy back LitraBit currency from universities in case they want traditional cash, even though it seems unprofitable, it will allow the currency to come into proper circulation in the educational ecosystem. 
The LitraBit agents will be tasked with implementing the LitraBit ecosystem in that institute and oversee trade and work as a cryptocurrency guide for students with no experience in cryptocurrency. The agents will be supplied with LitraBit Tokens which they will sell to the students and faculty members on the campus and inform them about its use and its features and services such as how to keep a cryptocurrency wallet or use the LitraBit app. After the students and faculty members have bought the Tokens they can start to trade among themselves or get services based around the LitraBit. These services will initially include paying cafeteria bills, paying fees and dues, and paying for books and stationary. After initial success other services will be incorporated such as Scholarship programs paid in LitraBits and much more. 

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BENEFITS FOR INVESTORS

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Discounted rates through ICOs 
ICOs are a great opportunity to get hold of assets on much lower price than when it hits the market on a mainstream level. Through the initial coins offering you can get very high discounts. These assets can then be traded by the asset holder for valuable profit.

Discounted rates for later token buying 
For early investors LitraBit will offer discounts in future buying of LitraBits based on which phase of the ICO they invested in. 
For Private sale investor – 10% 
For Pre-Sale Investors – 7%
For Stage 1 investors – 5%
For Stage 2 investors – 3%
For Stage 3 investors – 2%

Profit based on LitraBit capital
Since the money raised through the ICOs will be invested in the growth of the company the investors of Pre-ICO, ICO and Private sale will receive profit shares in form of LitraBits from 20% of company’s profit, depending on their investment tier and the stage they invested in. This profit will be provided for two years. 

Scholarships priority 
If you invest early and pledge to buy One Thousand LitraBits You will be provided with a specific one time code that when used will allow you to apply for LitraBit scholarship on a priority basis putting you higher up in scholarship listings. You will be able to use this one time code for one individual, which will work for that individual over the course of his/her entire education. This is an investment opportunity to secure your or a person of your choosing e.g. a sibling’s educational career. Similarly investing in another Thousand LitraBit will get you an extra scholarship code and so on.  
* Disclaimer: Introduction of LitraBit Scholarship is subjected to the success of the LitraBit project and will be deployed after the initial revenue model starts generating profit.

Free ATM/Debit card 
After the introduction of the ATM/Debit Card services investors who pledge to buy 500 LitraBits through ICOs will be provided with LitraBit Debit Card and LitraBit Cash Debit card free of any extra charges. Though they will be subjected to regular transaction fees but at a discounted rate depending on their investment tier.
There will be no fees on transactions whatsoever for private sale investors.    

Opportunity to become LitraBit partner
The Investors in LitraBit who have obtained high rankings in our Investors list will be offered to join with LitraBit as partners in LitraBit’s initiation in universities and Institutes as LitraBit agents, which will put them above the corporate hierarchy compared to a regular employee and will promise more profits and commissions.  

Lower Fees for services 
Early Investors will be offed a premium code depending on their investment tier, that they can use to get Services that LitraBit offers  like University Fees and Book shop payments, these services will then be offered to early LitraBit Investors on lower fees at a discounted rate than the normal consumer depending on their investment tier. These Discounts will be offered for two years after initiation. For private sale investors this time line will be extended to five years.
 

TOKEN DISTRIBUTION

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The total supply of LitraBits that exists is 22 Million. Out of the 22 Million Coins that exist approx. 42% or 9.4 Million will be sold through Pre-sale and ICO. Approx. 3% or 0.5 Million will be designated towards initial marketing. 5% or 1.1 Million will be designated towards Official Team Members. And 50% or 11 Million LitraBits will be held in reserve, which will be later used for implementation of the LitraBit Educational Ecosystem after Launch and used for all other company related expenses. Tokens sold through private sale will be also taken from of the reserve.  
Token Contract Link: https://github.com/Litrabit/contracts

ICO TOKEN DISTRIBUTION

Private Sale:
With a target of selling 300 Thousand LitraBit Tokens, each token will be sold at a discount rate of 0.10 USD allowing an 85.8% discount
Pre-sale: 
With a target of selling 2.0 Million LitraBit Tokens, each token will be sold at a discount rate of 0.20 USD allowing a 71.4% discount. 
Stage 1: 
After the Pre-sale the stage 1 of ICO will target to sell 2.0 Million LitraBits for a discounted rate of 0.35 USD allowing a 50% discount.
Stage 2: 
In stage 2 of the ICO will target to sell 2.0 Million LitraBits for a discounted rate of 0.55 USD allowing a 28.5% discount.
Stage 3: 
In stage 3 of the ICO will target to sell 3.4 Million LitraBits for 0.70 USD. 
 

ROAD MAP 

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THE TEAM

CFO: 

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CEO: SHERYAR

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CMO: IBRAHIM

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CTO: DANIAL

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EDU CONSULTANT: MICHELLE

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WEB/APP DEVELOPER: ALLISIA

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PUBLIC RELATIONS: PAVEL

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ORIGINAL IDEA: PORCOS

EXCHANGE ADVISOR: 

BUISNESS ADVISOR: YOUSAF

PMO Advisor: 

To read in Detail about the team ead the whitepaper

FOR MORE INFORMATION VISIT: https://litrabit.io/

Read our Whitepaper for more details: https://litrabit.io/whitepaper/litrabit%20whitepaper%202.6%20(1).pdf

Contact us at: [email protected] or [email protected]

OR join our Official Telegram: https://t.me/joinchat/Hj9XmA0i2Q3PL8QIsEHTVw