Overview

  • Country , China
  • CategoryFinance/ Lending Marketplace

LOTS is a blockchain-based decentralized marketplace for borrowing and lending crypto assets in a easy and secured way.

Project stage

Only a whitepaper

Detailed description

LOTS is a professional and user-friendly digital asset lending platform. On LOTS, global users can lend digital assets to collect interests, or borrow digital assets for reinvestment or other purposes.

LOTS effectively addresses issues such as lack of credit, inefficiency and limited liquidity in crypto lending market. In future digital world, tokenization of various assets is more accessible to people, more digital assets will be circled on LOTS platform.

Products of LOTS include secured and unsecured loans. When launching secured loan, LOTS handles the volatility risk of crypto collateral well by using the cutting edge quantitative model to mitigate market risk. During the operation of unsecured loan, multidimensional features of wallet address on chains are used to build a chain based fraud detection system. Also, LOTS builds a decentralized credit rating system leveraging deep learning algorithm to provide reliable suggestions to LOTS users.

LOTS will serve global users under variety of scenarios. Cross-chain based smart contracts provide programmable contracts that operate digital assets lending in an easy and secured way. With help of independent escrow and insurance service, cross-chain peer-to-peer crypto lending will be safely implemented on LOTS and transaction records are stored on blockchain.

Problem

The lack of liquidity of digital assets will significantly and directly limit the size of market. Main reasons for the lack of liquidity are: 

  • Affected by the government policy, global investors are unable to participate freely, limiting the overall liquidity; 
  • In the process of tokenization of real-world assets into the digital world, overall categories of digital assets are limited; 
  • Digital assets prices have not yet reached a steady state, thus failing to maintain a reliable price in the transaction with other digital assets.

Solution

Targeting all these problems, solutions to the limited liquidity provided by LOTS are as follows: 

  1. A global accessible credit market: Using digital currencies as the trading medium, the LOTS platform can open up the global market by breaking the restrictions on asset types and geographical locations, whereas global liquidity will in turn empower the platform to a great extent. Government restriction may still apply in certain cases. 
  2. Incremental digital asset creation: The LOTS platform serves as a distributed digital asset lending platform that allows users freely choose types of underlying digital assets and customize their own transaction terms. According to needs of users, LOTS will introduce popular digital assets that have completed tokenization and innovative transaction structures (for example, digital currencies that can be freely split, which means the corresponding rights can be split and circulated). In this way, fractional ownership can be created beyond the current cryptocurrency lending market, attracting new institutions and new entrants, thus bringing incremental liquidity.
  3. Measure of value: LOTS will be the unit of measurement for cryptocurrency assets. In a globally network, LOTS will serve as an intermediary for borrowing and lending transactions. When prices of digital assets gradually become fair and stable, LOTS will become an important unit of measurement for collateral digital assets, lending/borrowing digital assets, and even any form of digital assets.

Features

Leading the cryptocurrency lending market: 
The cryptocurrency market is much heated, but mainly on ICO investments and secondary market trading, leaving huge opportunities in the lending market. LOTS is leading the way in the emerging cryptocurrency lending market. 

Securing the transactions: 
Select eligible collateral for secured lending, operate on smart contracts, set loss recovery mechanism through third party smart insurance. 

A global credit rating system: 
Based on AI analysis of lending transactions by the account address, LOTS takes the lead in realizing unsecured lending and building the most professional decentralized credit rating system globally. 

Reforming the lending system: 
Achieve a fair rate of interest worldwide; lending transactions are no longer monopolized by traditional financial institutions.The implement of blockchain technology will keep tamper-resistant loan transaction records and help establish an all-transparent financial system. 

Support from great partners in the ecosystem: 
The team has rich resources and many partners, and LOTS is supported by a number of miners, investment funds and public chain ecological system builders, who will help improve the liquidity of the platform. 

Global community operation: 
LOTS has wealthy resources and numerous partners, which help build the ecosystem of LOTS. 

A clear profit model: 
Revenue and profit of LOTS mainly come from users' service charges when they are rendered the platform services (including initiating transactions and realizing transactions). Meanwhile, the platform accepts tips from users and will obtain other income through various cooperation and outputting credit rating information, etc.

Show details

Additional links

  • Token details

    • Token symbol ? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. : LOTS
    • Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : NA
    • Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :Ethereum (ERC20)
    • Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. : NA
    • Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :Utility token
    • Total supply ? Total supply — a total amount of tokens that will be released by the developers. :1,000,000,000 LOTS
    • Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No
    • Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :500,000,000 LOTS
    • Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist N/A
    • Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No
    • Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA
    • Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :ETH,
    • Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :No
    • Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :No
    Get details
  • Token and Funds Distribution

    Token distribution date

    NA

    Unsold tokens

    NA
      • Token Distribution

          Vesting notes

          • Team: LOTS team start to unlock their holdings 6 months after the completion of fundraising, unlock 25% annually over the following four years.
        • Funds Distribution

      Sale schedule

      Round Token Price Bonus Min / Max Purchase Soft Cap Hard Cap
      Private sale — Soon
      18 Jun 00:00 UTC
      NA No - Uncapped Uncapped
      Pre-sale — Soon
      Start Soon
      NA No - Uncapped Uncapped
      • Team

        • Zeen Zhang photo
          Zeen Zhang
        • Yilei Pan photo
          Yilei Pan
        • Brian Liu photo
          Brian Liu
        • Jocelyn Xie photo
          Jocelyn Xie
        • David L. Nguyen photo
          David L. Nguyen
        • Wenyi Wang photo
          Wenyi Wang
        • Eugene Yang photo
          Eugene Yang
        • Kirill Sevastyanenko photo
          Kirill Sevastyanenko
      • Advisors

        • Bo Shen
        • Sasaki Yuta
        • David A. Johnston
        • Yan Gong
        • Yan Li
        • Henry Liu
        • Quah Zheng Wei
        • William Wang

      Roadmap

      • Q4 2017

        Project initiating

      • Feb 2018

        System design

      • Q1 2018

        Whitepaper releasing

      • Apr 2018

        Private fundraising

      • Q2 2018

        Secured loans based on ERC20 (Beta) 

      • Aug 2018

        Public fundraising

      • Q3 2018
        • Global exchanges listing 
        • Secured loans based on multichains (Beta)
      • Mar 2019

        Decentralized secured loans based on cross-chain (Beta)

      • Q3 2019
        • Establish decentralized credit scoring model 
        • Unsecured loans based on ERC20 (Beta)
      • Sep 2019

        Perfect credit scoring model to serve third parties

      • Q1 2020

        Secured loans based on objectstokenized system (Beta)

      Activity