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WebsiteChainx Launchpad

LynchPin (LYN)

ICO
IEO
Ongoing IEO
Token sale: Jul 06, 2020 – Oct 10, 2020

The fundamental purpose of LYN token is to solve several of the most critical issues related to cryptocurrencies and become a universal utility token that can be used as a safe medium of exchange without fearing its intrinsic value will be affected by volatility (triggered mainly by pure speculation).

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Overview

Project industryExchanges & Wallets
Product typeCryptocurrency
FoundedSingapore

What is LynchPin

Blockchain technology, altcoins, and cryptocurrencies such as Bitcoin, are buzzwords that have changed the way people understand and perceive today’s economy, as well as full-blown industries such as banking or finance. Ever since Bitcoin went mainstream, a multitude of disruptive ideas and assumptions surrounding cryptocurrencies have emerged.

Industry innovators constantly claim that they have found pioneering implementations for Blockchain technology and cryptocurrency to the end user. However, they haven’t been able to achieve much because volatility still gets in the way of mass adoption. Is cryptocurrency a universal medium of exchange? No, it’s not.

Industry experts have come up with promising projects over the years, however, they haven’t been able to develop complete solutions. In the absence of a stable universal token, the end user is compelled to use different platforms and different cryptocurrencies to perform different online activities.

The global economy needs a universal cryptocurrency; a stable token that operates on a single platform and is able to accommodate a vast array of commercial activities (e.g. e-commerce, Point of sale (P.O.S) merchants, online gaming, social streaming, payment for accommodation, food, and more) linked to a form of payment, one way or another. This is where LYN token (LYN) comes in. Its goal is to develop a token that can act as a universal exchange medium capable of providing true value to a cryptocurrency.

VISION

In January 2018, the global crypto market surpassed $700 billion. And yet, although more than 6 million people use a crypto wallet, cryptocurrencies don't seem to have a financial or commercial use. Most investors buy low and sell high; only a very small percentage hold for long period of time because, whether we like it or not, the whole industry is seen as bubble that’s about to burst.

One of the main reasons big companies don’t issue their own token is volatility. Most of them are ”crypto assets" because they're not treated as currency. But then again, if cryptocurrency can’t be compared with the EUR or USD, it will never be used as a universal currency.

The vision is to create a token that solves these major problems in the industry:

  • Volatility.One of the reasons volatility is created in the market is due to new coins added to the supply, triggering huge volatility as whales control the mining market due to early adoption, which triggers a supply created at very little cost. New adopters or token/coin buyers get affected as they enter the market at the last traded price. There is a cost of inflation that is not accounted for, meaning that if is a correction happens, they will feel the burn the most.
  • Lack of intrinsic value.There’s little value in cryptocurrencies because most tokens don’t have a real use. What we're trying to do is create real value by making our Lyn token a viable medium of exchange; therefore providing price stability in the market.
  • Inflation and deflation.Our token stops inflation because we will use a fixed supply method. No new tokens will be created through mining or staking because Lyn token uses the Ethereum Blockchain to confirm transactions. We believe in using the decimal points which were created to increase the price and value of the token, instead of creating more supply to deflate or devalue its price.
  • Lack of utility.Utility solves adoption as our Lyn token is not limited to just trading in exchanges which creates the position of the currency being speculative.

We strongly believe that LYN token will be able to answer the 4 pain points mentioned above. Truth be told, hype does help to keep the crypto market afloat. It can spread the word globally, and bring more and more people into the crypto space. However, hype usually backfires and the result is an overextension of the markets forces.

2017 was an excellent year for the crypto market. With Bitcoin reaching almost $20,000, most altcoins followed on the footsteps touching unthinkable highs. But as we entered 2018, many tokens had to face the consequences brought on by pure speculation and dumpers hunting for the easiest ways to get a return on their investment.

Interest, volume, and prices started declining, even though the underlying technical principles and coding work remained the same. Cryptocurrencies are decentralized forms of trading value by nature. That’s why the dollar prices made available on various charts are set by the overall market, as opposed to a centralized entity influencing price in one direction or another.

The overall value or price of a token or coin is defined by trading volume (buy/sell) on different exchanges. Regardless of the real value of a token and intrinsic value, many times the price skyrockets due to hype and speculation. Sudden spikes occur because the crypto market boasts with hundreds of ”influencers” that plague the industry with unfounded allegations. The end result: tremendous volatility since speculation and word of mouth circulates a lot faster than real adoption.

Lynchpin (LYN) token enters the scene with a clear purpose: to build an ecosystem and many mediums of exchange where token utility prevails. By providing multiple initial uses for LYN, we aim to create stability.

Details

Public sales: Nov 15, 2018 - May 01, 2019
IEO (Chainx Launchpad): Jul 06, 2020 - Oct 10, 2020
Token supply: 5,000,000 LYN
Total tokens for sale: 4,000,000 LYN
Soft cap: 9,000,000 USD
Hard cap: 19,500,000 USD
Raised: 9,587,500 USD

Legal

Blockchain Platform: Ethereum
Country limitations: China, Sudan, Syria, United States, North Korea
Registration country: Estonia
Registration year: 2018
Office address: 81 Ubi Ave 4, UB.One, #11-22 Singapore 408830

Token info

Ticker: LYN
Type: Utility-token
Token standard: ERC20
Token price in USD: 1 LYN = 5 USD
Accepted currencies: ETH, BTC
Bonus program:
ICO phase 1 (15 Nov - 23 Dec) - 10%
ICO phase 2 (01 Jan - 26 Feb) - 5%
Token distribution:
40% - private sale
40% - public sale
20% - team
Funds allocation:
5% Reserve
5% Security
5% Legal
10% Business Development
10% Development
15% Marketing
50% Ecosystem

Offices on the map

LynchPin Roadmap

1
17th April 2019

Stop ICO Phase 3, Listing on DOBI Exchange

2
May 2019

Building of LynPay E wallet to house the eco system

3
July 2019

Launch of GobuyBid e-commerce platform. Launch of Lynchpin wallet on Google Play

4
Nov 2019

Lynpay Payment Solution Integration

5
Oct 2019

Lynchpin Partnership with PureGold.sg

6
Nov 2019

Lynchpin partner, LynPay Integrated Wallet soft launch with Lyn Token Onboard

7
Dec 2019

De-List from Dobi Exchange.

8
1st Q 2020
  • Lynchpin partner, LynPay announced proof of concept and roll out payment solutions to merchants
  • Partner LynPay wallets on SG Concept Vending Machines and merchant acquisitions
  • 9
    Feb 2020

    Partner LynPay wallets on SG Concept Vending Machines and merchant acquisitions

    10
    April 2020

    Pre IEO preparations

    11
    May 2020

    IEO

    12
    JuL 2020
  • End IEO
  • Lynchpin Purchase of Physical 1gm Gold for 2 Million circulating LYN Token
  • 13
    3nd Q 2020

    Lynchpin Partner, Lynpay announced penetration into Thailand.

    14
    4th Q 2020
  • Lynchpin Penetration into Malaysia and Indonesia Market to build community.
  • Lyn Token will be listed in Thailand exchange
  • 15
    4th Q 2020
  • Lynchpin will partner with Travel Company.
  • Lynchpin Penetration into Turkey to build community.
  • 16
    1st Q 2021
  • Lyn Token listing in Malaysia and Indonesia Exchange.
  • Lyn Token Holder can sign up for debit card with its partner Lynpay.
  • 17
    2nd Q 2021

    Lyn Token Holder can sign up for debit card with its partner Lynpay.

    18
    3rd Q 2021

    Lynchpin Team will liquidate unclaimed Gold from Loomis and liquidate to scale the project.

    Project team

    Abdul Aziz Suhaimi
    Abdul Aziz Suhaimi
    Project lead
    Abdul Aziz Suhaimi linkedin
    Carla Carlos
    Carla Carlos
    Financial Lead / Project Delivery
    Carla Carlos linkedin
    Ioana Paicu
    Ioana Paicu
    Content Specialist
    Ioana Paicu linkedin
    Moshin Saeed
    Moshin Saeed
    Social Media Specialist
    Moshin Saeed linkedin
    Tudor Nechita
    Tudor Nechita
    Graphics Design Specialist
    Tudor Nechita linkedin
    Andrey Romanov
    Andrey Romanov
    Community Support
    Andrey Romanov linkedin
    Robert Glenn
    Robert Glenn
    Social Media Support
    Robert Glenn linkedin
    Muhammad Habaib
    Muhammad Habaib
    Video Production / Community Manager
    Muhammad Habaib linkedin

    Advisors

    Az Zahari
    Az Zahari
    Founder / Advisor
    Az Zahari linkedin
    Jack Tsai
    Jack Tsai
    Advisor
    Jack Tsai linkedin
    Dato' Sharil Goh Fadhil
    Dato' Sharil Goh Fadhil
    Advisor
    Dato' Sharil Goh Fadhil linkedin
    Vinish Ramanathan
    Vinish Ramanathan
    Advisor
    Vinish Ramanathan linkedin
    Andy Loh
    Andy Loh
    Advisor / Partner Merchant
    Andy Loh linkedin
    Hamza Khan
    Hamza Khan
    UAE Advisor
    Hamza Khan linkedin
    Jitendra
    Jitendra
    Advisor
    Jitendra linkedin
    Frederick Lund
    Frederick Lund
    Legal Advisor
    Frederick Lund linkedin

    Social media

    LynchPin web-siteLynchPin MediumLynchPinYouTubeLynchPin TelegramLynchPin InstagramLynchPin BTCTalkLynchPin LinkedInLynchPin TwitterLynchPin FacebookLynchPin Github

    User rating:

    5/5 ( 1 )
    2

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