As is clear for everyone to see, the drive towards creating a cashless society has gained more momentum than ever before. For example, in the past couple of years China has seen a growth of cashless payment users by over 500%. Also, at this point it should mentioned that cashless implies all technologies including credit cards, e-money schemes, and bank wires.
Lode can be thought of as an all new platform that allows “individual users and businesses” to indulge in gold “spot trading” in a hassle free, safe fashion. Lode takes all of the complexities involved with spot trading and makes the entire process more transparent and streamlined. It is also important to mention that spot trading has traditionally been the domain of major trade associations who often act in accordance with their interests, but though the use of Lode, everyone can participate in such an activity.
Lode Network Gold Spot Trading Crypto Features
Regulated Trading Fees:
Due to the ever changing value of gold as a commodity, it is often difficult to generate stable returns from it on a daily basis . However, through the use of Lode all of this can be changed, and trading losses can be minimized.
As many of us might know, regular gold sellers charge a minimum of 2.5% surcharge on all purchases. In addition to this, larger firms also make use of a spread fee that can vary anywhere between 1-2%. Similarly, when selling gold, a 2.5% disposal fee is applied on each transaction. Lode helps cut through all these unwanted expenses, thereby allowing for large customer savings.
Minimization Of Storage Fee:
Statistical data shows that almost 8% of gold buyers store their precious metal themselves, while 92% pay handling fees of about 1% per year to have the seller keep the gold in a vault. While it may be considered risky to keep gold with us, it is also unnecessary to have to pay a 1% surcharge every year for the safekeeping of our assets.
Lode Network Key Advantages
Through the use of Lode the distribution routes that are currently used by most companies will be strategized in a such a way that transportation costs can be reduced to a great extent.
Reduced Handling Fees:
As per the official company whitepaper, by dealing with the refinery directly, the folks over at Lode are able to reduce handling charges considerably. Not only that, they are also able to facilitate the sale of precious metals from unneeded jewelry in a completely decentralized manner.
Through the use of its innovative app framework and architecture, Lode is able to eliminate problems related to data security, fraud quite easily.
Another underrated facet of the Lode Network is that it comes equipped with an “external audit function”. Additionally, it directly connects the refinery, the sales outlet, and users with one another through the use of blockchain technology.
Lode Network LDG ICO Details
All internal dealings will be handled through the use of native tokens called LDG. As per the official website, the token sale will be conducted in three separate stages. It should also be mentioned that the token ICO periods will account for 88% of all total issued tokens, while the remaining 12% will be distributed through the use of different incentive schemes.
Token Issuance Breakdown
- 60% of all coins will be distributed during the Public and Protection Sale periods.
- 28% will be set aside for the creation of a bonus fund.
- The remaining 12% will be used for liquidity purposes, as well as for the creation of team remuneration schemes.
Use of Revenue
- 40% will be used to cover for development costs.
- 10% will be used to obtain regulatory licenses that are required for gold trading.
- Another 10% will be used to cover for marketing and advertising.
- The remaining 40% will be used to cover for salaries as well as for the creation of a contingency fund.
For any further details, customers can get in touch with company officials via email on [email protected]