What is TOKENLAB by Expanse Cryptocurrency?

Expanse.tech was created as the first stable fork of Ethereum by extremely respected and well-known cryptocurrency developer, Christopher Franko.  James Clayton, founder of the Cryptocurrency Collectors Club, and Dan Conway are also co-founders of Expanse.

tokenlab founders

Expanse itself is blockchain agnostic and works as a platform with cutting edge blockchain technology on which community members can make anything that catches their fancy.

The organization is kept as close to self regulating as possible by the adoption of a Decentralized Autonomous Organization system with a self-funded design.

Expanse plans to be one of the world’s foremost blockchain systems and revolutionize everything from governance, charity, equity to commerce and identity.

TOKENLAB by Expanse

TOKENLAB by expanse cryptocurrencyTOKENLAB is an integrated system by which tokens can be created on the Expanse blockchain.

Members utilizing the system will be able to start ICO’s that have smart contracts’ built into them.

This is essentially a time-locked distribution system that will prevent funds being dumped onto the market and thus erode away investor wealth rapidly.

Tokenlab is using the LAB token that is pretty unique in its value offering since it will pay out a percentage of the value of all future tokens created using Tokenlab.

Any member that creates an ICO using tokenlab will pay out a percentage to all LAB holders.

LAB TOKEN

The first token after the launch of Tokenlab will be the Lab token. Once these tokens have been issued, members can start new ICO’s on the system.

Since every member will be required to pay a certain percentage of Lab tokens to start an ICO, it should help fight spam. Also, since every lab owner will continue to get value from further ICO launches, it acts as an excellent decentralized incentive mechanism to get momentum for the project.

All the developers need to do to be eligible to receive future new tokens is to hold Lab tokens in their Expanse Wallet. Every Lab token holder will get an equally distributed part of 5% of the new tokens from the ICO.

As the community widens with each launch, every subsequent launch on the platform will ensure a wider distribution and better decentralization than the earlier one.

How Many LAB TOKENS will be available at launch?

Tokenlab will launch in 2017 although the exact date is yet to be announced.  A fixed amount of 100 million Lab tokens will be available and they will continue to decrease in number as ICO;s are launched. The decreasing cost will vary according to the customization and special features of the ICO.

It is also interesting to note that the Tokenlab team is not going to be keeping or premining any Lab tokens for themselves and that all 100 million will be available to buyers. Developers that start their own ICO’s though will have an option to keep a certain amount of tokens for themselves if they so wish.

The sale of these tokens will last for 14 days and as mentioned earlier, the exact date has yet to be announced. Tokenlab will be accepting Expanse, Bitcoin, Litecoin, and Etherium for sale of the tokens although only Bitcoin and Etherium will be accepted during the pre-sale.

There is no option to pay fiat for tokens and any lab tokens that remain unsold will be destroyed increasing the scarcity. It should also be noted that there is a small transfer fee when transferring your tokens and that the lab will require a minimum holding of Expanse in Expanse Mist Wallet.

Should You Trust Tokenlab?

This is ultimately the most important question that you need to think about because the cryptocurrency community has been burned too often in the recent past.

As with any other ICO, there are certain risks involved and the Expanse team has made it crystal clear that they are absolving themselves of any responsibility should something like people not receiving their tokens, or not being able to buy them or anything else goes wrong.

There are some solid reasons to trust Tokenlab as:

· It has the support of the entire Expanse.tech community

· Has the backing of some very well known and respected developers

· Token buyers are somewhat protected by time restricted funds

· The token lab team will be reviewing any future ICO’s on the platform and sharing their objective opinions with buyers so that the potential for scams or fly by night operators is reduced.


Written by: dhruvgupta

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