Latium : How It Works

Technology allows communication and recruitment on an unprecedented scale, and if you have a task that needs doing, it’s easier than ever to find the right people to do it for you. One of the concerns with hiring people at a distance, though, is being sure they will fulfil the brief to a satisfactory level, and from their point of view they want to ensure they can trust that they’ll be paid. Latium is offering a new platform to take the difficulty out of the process, allowing all parties involved to focus on the job at hand.

How it Works

Latium incorporates a one-to-many relationship structure with an automatic rating system. What this means is that you can create a task for which you need one person, or multiple people, and the system will organise all of the contracts and payments required to complete the jobs. They support the ability to hire people for both ‘Digital’ and ‘In-Person’ tasks, and give you full control over what is done, and when.

Take the example of a product launch party. At these events, you may require 100 people to show up to generate excitement for your new product, and ensure a good number of people attend the launch. Latium will provide you with the tools you need to do this, and ensure the people actually show up if they want to be paid. This is done through QR codes. Upon arrival they will scan one, and at the end of the event they will scan another. Once this process is complete, funds will be released to their account.

All payments through this network will be made in real time by LATX coins. This is the new currency being launched by Latium, for which the General sale will soon begin.

LatiumX Coin Sale

The LatiumX Coin, also known as LATX, is an ERC20 standard token that will be the sole payment method through Latium’s platform. This, in itself, will drive the demand for the token, because employers will need to acquire tokens in order to enlist the services of others.

The whitelist sale of coins began on November 15th, 2017, with the general sale due to begin on November 28th 2017. During the whitelist phase, only pre-registered and approved applicants will be chosen to participate, which will ensure an evenly spread distribution across a number of holders rather than some parties holding huge quantities (which can cause problems to the viability for the currency). It is still possible to sign up to be a part of the Whitelist sale, where you will be able to buy 2,100 LATX for 1 Ethereum.

Once the initial foundation is set during the whitelist sale, the general sale will open things up to anyone who wants to participate- and during this phase the exchange for tokens will be 2,000 LATX for 1 Ethereum. After the sale is complete, the tokens will be deposited in your wallet, and you will be able to use them to enlist services through Latium’s platform, or convert them using the usual crypto currency exchange markets.

The Token Structure and Allocation

During all stages of the sale, there will be a combined total of 180 million LATX on offer. Any that remain unsold by the end of it will be burned. This number represents 60% of the total supply of LATX coins, with the remaining 40% reserved for allocation in the following ways:

  • Adoption Incentives – 20% (60 million tokens) will be kept aside and used to promote the platform once it has launched. They will be given to new members to encourage them to sign up, but can only be spent on creating tasks within the platform, and cannot be withdrawn and sold on.
  • Founders Lockup – 15% (45 million tokens) will be held in a lockup contract for founders until November 1st, 2018. At this point it will be up to the founders how to disperse these to their team.
  • Bounty Program – 5% (15 million tokens) will be used for the marketing bounty campaign for things like a General Affiliate System, Banner Ads and Wings. This will increase awareness of Latium and the LATX

Conclusion

Latium are setting up a marketplace for people and the services they require/provide. By underpinning this platform by the use of LATX, it will keep the currency in constant demand, and provide those who take part in the initial sale with a great opportunity. Whether you use the tokens to enlist services, or simply hold on to them with the intent to sell them on an exchange at a later date, there’s a lot to be gained from this innovative strategy. If you would like to learn more about the LATX, you can find their website at https://latium.org