Frequently Asked Questions
About The LoveChain
Simply, it’s social media and a marketplace built around the unique theme of Love. All you need to do is record and share the pictures, videos and comments of the people and things you love and let us help you celebrate the special moments. Whilst you’re doing that earn rewards tokens that will help you engage with the platform further and gain discounts on products and services offered by our merchant partners. When Valentines day or Mother’s day or your anniversary comes up simply cash in your rewards tokens with one of the merchants offering anything from flowers to hotel stays and enjoy.
Well for a couple in a relationship both parties can be authorised to operate the profile. Similarly for family profiles more than one person can be authorised to operate the profile. One person can also be the sole authority on a profile, whatever is most convenient for the users.
We anticipate that a beta version of the platform with basic functionality will be available by November of 2019.
At this stage The LoveChain will record all relationships and profiles on the Ethereum blockchain.
Yes you can reserve a profile on The LoveChain now (profiles #1 to #50 have already been reserved).
The first 10,000 profiles will earn 100 LOVR rewards tokens and an extra 10 tokens for every new profile that is referred.
Yes it certainly is. With the LoveChain your wedding vows can be recorded on the blockchain for all time. Along with that you will receive your unique code derived directly from the block where your vows are recorded on the blockchain to commemorate it.
To read about how The LoveChain records data to the Blockchain, click here.
Yes even though development of the LoveChain platform is ongoing the initial stages of the marketplace exist. So whether you want to purchase flowers or a hotel stay, some fashion items or chocolates you can do so now and in the process you will help the platform earn some revenues that will contribute to its ongoing development.
The LOV token is limited in supply and is offered as part of the initial token offering. Further the LOV token will be used in the quarterly swap program for products and services offered by merchant partners or for other cryptocurrencies like ETH, TRX or BNB. LOVR is the rewards token earned by engaging with the LoveChain platform by for example posting content or agreeing to view advertisements. Both LOV or LOVR tokens will be eligible to gain discounts or products and services through merchant partners and also as currency to participate in the various competitions and rewards programs on the platform. (Please see our guide on how to earn LOVR rewards tokens).
The LOV token will be available currently through the Pre-IEO process just email us on [email protected]
Once agreements are in place with the selected Exchanges an Initial Exchange Offering will take place and that is where you will also be able to purchase the LOV token.
Discounts apply to the Pre-IEO offering please refer to the white paper for details.
The management team at The LoveChain are currently discussing terms for an Initial Exchange Offering (IEO) with a number of digital exchanges and anticipate an offering of LOV tokens shortly.
No you will only need the wallet if you want to participate in the Initial token offering of LOV tokens. Otherwise when the platform is operational you will be able to set up a profile seamlessly and the platform will manage your balance of the rewards tokens (LOVR) which you accumulate on your profile through a central ledger and an integrated wallet (Next Genius Wallet) that our team has developed.
When you earn your LOVR rewards tokens they will remain available for you to use for 1 year. Any LOVR rewards tokens that you have earned and not spent within the 1 year period will expire and be burned. To help you manage your LOVR balances we will provide you with a live summary of any LOVR tokens that are shortly to expire.