As you already know if you are following my blog I am no expert on crypto investing. I’m a normal guy who is researching projects and passing along that information. There are many people with much better and more legitimate advice out there. Do your own research before investing in any crypto project.
I found this ICO project called Liberty Lance and went over to their Bitcointalk thread and asked some questions. They were kind enough to offer the answers below.
ICOinvesting101: Can you explain this project in just a few sentences?
LibertyLance: To sum our project in a few sentences: LibertyLance is a self regulatory decentralized gig based marketplace for freelancers and clients built on the Etherum blockchain. Our platform gives freelancers the opportunity to showcase their gigs for a particular fixed price and will give clients the opportunity to select from various gigs based on the ratings, price and delivery. Smart contracts will be used to ensure smooth transaction and act as an escrow medium between the two parties without involving any middleman. It intends to solve many underlining problems currently faced by the freelancing community such as: Centralized marketplace authority, high transaction fee, security of funds, delayed withdrawals and undeserving reviews.
ICOinvesting101: Who is/are your competitors? What is your competitive advantage? What are your biggest weaknesses?
LibertyLance: Currently, our blockchain competitors are Blocklancer, Coinlancer and Freelancercoin. We have several competitive advantages such as being the first ever gig based marketplace.
Like Fiverr, charging the lowest fee and above all we have a veteran freelancers that know the current existing problems faced by the freelancers.
I believe no project is perfect and has always room for improvement. Our biggest weakness would be that our brand name is not yet established and the lack of funding we have kickstarting the project.
ICOinvesting101: What is your total addressable market (TAM) and what do you estimate is the max share your network will take?
LibertyLance: In 2016, freelancers earned an estimated $1 trillion. If we can only capture 0.01% of all this, we will be betting annual revenues of about $100 million. The freelancing market is huge and not only that, it is growing at a very fast rate!
ICOinvesting101: What is your fiscal policy and what will happen to unsold tokens?
LibertyLance: Yes, we do have a fiscal policy and it is explained in detail in our whitepaper Unsold tokens in the Main Token Sale will be burned.
ICOinvesting101: How many tokens are allotted to the founders and is there a vesting schedule?
LibertyLance: Tokens allotted for the team and advisers are 20% with a vesting schedule of 25% every 6 months.
ICOinvesting101: What kind of discounts are offered to early investors?
LibertyLance: For private sale investors the rate is 1 ETH = 13,500 LTN including a bonus of 35%. The rate is going to be 1 ETH = 5750 LNT including a bonus of 15%.
ICOinvesting101: Can you tell us how long do you estimate it will take for the network to launch and see adoption?
LibertyLance: The platform is going to go live on the Ethereum network in the Q1 of 2019. Before that we are going to deploy our platform on test network to carry out tests and improve the platform further before launching it on the main net.
That is all I have for you from LibertyLance. What do you think?
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I am not a financial adviser or expert and this blog is not intended to be advice. Always do your own research. I’m just a guy who is interested in promoting projects like this. I may own these coins soon but do not own any at the time of writing this blog.
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