Reading: LGBiT Token to Introduce SUGAR Blockchain-Based LGBT Social Network

Press releases

LGBiT Token to Introduce SUGAR Blockchain-Based LGBT Social Network

Bitcoinist

Bitcoinist | Nov 15, 2017 | 16:00

Press releases

LGBiT Token to Introduce SUGAR Blockchain-Based LGBT Social Network

Bitcoinist

Bitcoinist | Nov 15, 2017 | 16:00


Send
Share

Pre-sale started on 15 of November 2017 and will continue through 15 of December 2017.


The way things are done in the social cycle is about to change with the launching of SUGAR’s LGBiT token, which would revolutionize the social networks and ensure that people are bonded by the same ideology and are also able to communicate more securely.

So many tokens have been launched in the past and more are still being launched daily, but none of them have successfully addressed the social network and its attendant challenges. SUGAR is taking the lead in this regard and putting the right tools in place to ensure that the traditional ways things are done in the social networks are disrupted.

About the Project

SUGAR seeks to create an ideal, functional and unified network for the LGBT community, making the over 2 billion social networks users globally to have a sense of social belonging and security. SUGAR is setting the pace as the first social network for representatives of the LGBT communities worldwide.

It is designed to be an avenue for like-minded people to locate and interact with one another without barriers like sex, age, social statuses, color or race playing a divisive role. The only uniting factor for the over 300,000,000 potential users of the platform will be a unified ideology.

Users of the site are assured of the confidentiality of their personal information, because the platform makes use of the latest encryption method and the unique Blockchain technology in sending messages, storing and transferring data, including multimedia and files.

SUGAR social network makes use of its own LGBiT crypto tokens, which users use for mutual settlements, payment for goods and services, as well as for fund-raise for charitable purposes. This crypto token is an ERC20 standard which is founded on the Ethereum blockchain.

Potential Users

Over 300,000,000 potential users are expected on this platform. This impressive number equally represents the potential size of the people who make use of the novel SUGAR social network for LGBT representatives. With a solid end-to-end encryption, it would be impossible for strangers to have an access to the history of communication made by users.

Functionality

The platform has the following features and functionality:

  • Full privacy: Al transactions history, internal messages and personal data are fully protected.
  • Multi-language: Communication gaps are bridged by making use of the eight most popular international languages – English, French, German, Chinese, Portuguese, Japanese, Spanish and Russian.
  • Integrated marketplace: The SUGAR social network integrates online store to enable users to make purchases irrespective of their geo-locations.
  • Instant messages with encryption: It plans to use an end-to-end encryption technology to ensure that messages are protected.
  • Channel for video streaming: A special built-in module will enable users to carry out online streaming including video blogs, master classes, and webinars.
  • Graphic image editor: One other functionality is the graphic image editor, which will help users to enhance the quality of their images before sharing.
  • Mobile applications and VPN service: With the VPN feature, you can browse anonymously and keep your identity private.
  • Gaming platform: SUGAR also intends to build over 100 various games on the platform to keep the users busy and entertained.

LGBiT Token Sale

LGBiT Token Sale

SUGAR is making available to the public its LGBiT token, which would be the cryptocurrency for users on the platform. The preliminary stage of the ICO (pre-sale) start date is 15 November 2017 and the end date is 14 December 2017. The total tokens to be sold are 550,000 and the cryptocurrency of exchange is the Ethereum; and 1 Ethereum will give you 800 LGBiT tokens. The minimum token purchase per individual is 0.05 ETH.

100% of the fund raised would be used in the following proportions and ways:

  • 70% of the money realized from the pre-sale will go into the marketing campaign
  • 20% of the fund from the pre-sale will be for continuing development of the web version of SUGAR
  • 10% of the fund from the pre-sale will be used to start the development of the mobile version of SUGAR

However, the main stage of the ICO starts on 15 December 2017 and would end on 1 March 2018, with 50 million tokens to be sold.

The LGBiT tokens would exchange at different rates during the ICO proper. The rate at which you buy depends on the amount you are purchasing. Here are the rates that would apply:

  • 1 – 4999 ETH, 1 ETH = 700 LGBiT
  • 5000 – 9999 ETH, 1 ETH = 685 LGBiT
  • 10000 – 19999 ETH, 1 ETH = 660 LGBiT
  • >20000 ETH, 1 ETH = 600 LGBiT

Privacy Policy

An elaborate privacy policy has been provided to assure users of the safety of their personal details, giving the guarantee that their details would not be disclosed to a third-party without their consent. Users are also assured that credit cards and other exclusive private information would not be divulged to anyone else or compromised.

However, as is usual with sites that allow the use of credit cards for payment for products and services, SUGAR and LGBiT token inform potential users that their addresses and card details may be required if they need to pay for services using their cards. The site complies with cookie policies and other regulations that make sure your privacy is respected. They also maintain a zero tolerance to spamming and pledge to only send relevant emails to users.

Terms of Use

While citizens from several countries are accepted on this platform and are free to participate in the ICO, it must be noted that not everyone is actually welcome. If you are from the BVI, China, Singapore, South Korea, UK or USA, you are automatically disqualified from acquiring the token. To be eligible to participate in the token, individuals must be 18 years and above.

The world and indeed the social network users are enthusiastically waiting for this innovation to come on stream. The wait would be worth it if SUGAR can deliver on what it promises to deliver to social network users. LGBiT Token is worth investing it; it is highly expected to bring the needed revolution the global social networks have been yearning for.

Official site: http://www.sugar.lgbt

Official Facebook Page: https://www.facebook.com/sugarsocialnetwork/

Official Twitter Page: https://twitter.com/SUGAR_lgbt


Images courtesy of LGBiT


Send
Share
Show comments