07 Mar 2019
Lynchpin (LYN) is the ERC20 token that was entrusted with a mission to address all major problems of the contemporary cryptocurrency market, a very ambitious goal with a hint of arrogance. Nevertheless, apart from being somewhat overly-optimistic, the Lynchpin project has a solid foundation in the form of the well-elaborated ecosystem which includes the payment solution, the e-commerce platform, the game development company, and the utility token to fuel the entire network.
In their whitepaper, the Lynchpin team has outlined four major problems that they intend to tackle through the implementation of their vision into life.
The volatility of the cryptocurrency market. Lynchpin will attempt to address this issue by creating a viable balance within the ‘supply-demand-price’ axis. They expect to achieve such a balance thanks to the real adoption of Lynchpin products and services. For instance, one can purchase a commodity at a lucrative price on the e-commerce platform using LYN that would ultimately create a demand for both the good and the token.
The actual value of cryptocurrencies. No one is going to argue the fact that most cryptocurrencies are no more than speculative tools, the price of which is determined solely by the market behavior and the media buzz. What Lynchpin team intends to do is to peg the value to their token to the the price of various physical goods thus creating a new variety of stable coin.
The real use cases. One could buy a physical commodity using only a handful of cryptocurrencies, which is undoubtedly a huge drawback. Lynchpin will try to resolve that problem by utilizing their e-commerce platform and creating some sort of compatibility between LYN and fiat money. Apparently, they will simply introduce the token as a mean of payment on the platform.
High inflation caused by mining and the overindulgence in promotional campaigns. Lynchpin is going to challenge the inflation by opting out of such features as mining, staking, bounty, and airdrop programs.
Lynchpin will make use of the LYN token within the ecosystem built on the partnership with other three Asian companies: LynPay Solutions, GoBuyBid.com, and RMP Games.
LynPay Solutions is a Singaporean company engaged in the development of POS systems and debit card programs. Its main task is to create a payment terminal that will accept LynPay cryptocurrency debit card and serve as a passageway between crypto and fiat settlement systems.
GoBuyBid is an e-commerce platform that will become a centerpiece of the LYN token ecosystem because it will serve as a mean for creating real value for the native token. The principal idea of this initiative is to provide cryptocurrency holders with an opportunity to buy high-end luxury goods at an affordable price using LYN.
RMP Games. The Philippines-based video game developing company that will become a gateway to the Lynchpin ecosystem for the global audience of gamers.
Lynchpin is currently in the 3rd phase of token sale that will last till May 1. The overall supply of tokens is estimated at 5 million LYN with 4 million allocated for sale. The price of 1 LYN is $5. Lynchpin hasn’t imposed any restrictions with regard to the citizens of the countries that aren’t often admitted to ICOs, such as the United States or China.
Once the ICO is completed, Lynchpin plans to initiate the full-scale adoption of their merchant solution.
All ICO reviewing platforms have awarded Lynchpin with very favorable scores:
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