Surfing, a water sport in which the athlete(a surfer) rides moving waves, across the surface of the water. Surfing is, however, more than just a sport, its a lifestyle, a culture that involves people all over the world, it is also a multi-billion dollars industry that realizes a lot of income from surf gears, clothing, trips around the globe, competitions, and sponsorships.
The surfing sport and lifestyle is not cheap however and also not as rosy as it seems. Surfers all over the world are faced with different types of challenges in their quest for the best surfing experience. Two of these problems, however, stands out from the rest and they are;
Source: Whitepaper
In this article, I will be introducing a blockchain platform that offers a solution to these problems in an open and decentralized way. This platform is called LIPCHAIN.
LIPCHAIN is a decentralized platform, community, and ecosystem built on the blockchain with the aims of providing solutions to different problems encountered by surfers globally, and also help in the efforts of purifying the ocean.
Lipchain solutions will be in the form of both an online network and physical infrastructures, all creating a unique ecosystem for surfers, surfing enthusiasts, and sponsors.
Most sports have standard stadia and facilities all over the world and are rarely influenced by changes in weather conditions, so ideally sporting activities like, soccer, basketball, hockey and a lot more, are easily adaptable to any environment and athletes can enjoy the games almost anywhere possible, from backyards, streets, local arenas to world-class facilities.
Surfing, on the other hand, does not follow the same trend. Surfing requires the right locations and weather conditions for surfers to be able to participate in training, competitions, and recreations. Nevertheless, in reality, there are no perfect waves. Meaning surfers mostly have to travel over long distances in the search of surfing beaches with the perfect waves.
This leads to a host of problems which include overcrowded beaches, high travel costs, limited available championships and more. Listed below are the problems that Lipchain is created to solve.
Source: Whitepaper
As explained earlier the Lipchain solution will come in the forms of both online and offline platforms In order to create effective and lasting change to the current status quo. The Lipchain solution can be broadly divided into 3 phases.
Source: Whitepaper
This is a surfing dedicated social network built on the blockchain in a way that connects surfers, fans, sponsors, inspirers, and influencers all over the globe.
On the typical social networks, the users are responsible for the growth of the network by sharing their picture, videos, personal data, businesses, experiences and more with other people online. , however, are not rewarded in any way for their inputs and contents shared with their audience.
The Lipchain social network is not the typical social network, this is a decentralized social network that rewards users for the content they publish on the application. This social network provides solutions for the problems of lack of funding, limited access to competitions and championships, a lack of a dedicated surfers channel and pollution of seas and oceans.
The contents shared on the network is incentivized through a sponsoring system which is monitored by a smart contract.
Athletes and content producers benefit from this network, as a sponsor can choose to incentive the content producer or the athlete in the content for their sponsorships. 60% of the sponsorship fees are then awarded to be shared between the athlete and producer on a 40%-20% ratio or vice versa, with the party chosen for the sponsorship getting the larger amount.
The 40% total sponsorship fees are shared thus: 10% goes to the development of the lip wave pool and app, while the last 30% is allocated as decided by the community. A comprehensive breakdown of the advertising revenue allocation is available in the image below.
Source: Whitepaper
The lipwave pool center is a facility in which artificial waves producing pools is made available to the community, this facility eliminates the problems of weather conditions influencing surfing activities, overcrowded spots, high costs of traveling to surfing destinations and also allows athlete to reach professional level quicker because of the improved and available training facilities in the Lipchain pool center.
More information about this is available in the whitepaper and website.
Surfing is a water sport, and the oceans and seas are being polluted at an alarming scale yearly. Lipchain recognizes this problem and the team will join in efforts to clean up the oceans by contributing towards helping the foundations that are already active in this quest to clean up the ocean and seas.
More information about these features is available in the project's whitepaper.
The Lipchain platform's official token is the LIPS token. This token will be the means In which sponsors will incentivize content creators and the way in which the users of the ecosystem redeem the value for their contents. LIPS is currently on sale until 15/11/2018 or the set hard cap for the project I reached.
Ticker: LIPS
Hard cap: 20,000,000
Soft cap: 3,000,000
Total tokens supply: 210,000,000
The Lipchain project is a first of its kind and a revolutionary project that will take surfing to new and greater heights. The Lipchain project is community-driven and the platform has been equipped with the unique concept that will provide users and beginners a way to contribute and get rewarded, this reward can then be used to fund the purchase of surfing gears.
Lipchain also cares about the planet and is contributing to make it a better one for everyone. This is a unique platform that has a lot of potential.
THIS ARTICLE HAS BEEN WRITTEN AS A REVIEW OF THE LIPCHAIN DECENTRALIZED PLATFORM. THE CONTENTS OF THIS ARTICLE DOES NOT REPRESENT ANY FORM OF INVESTMENT ADVICE. I AM NOT A FINANCIAL ADVISOR AND NOT IN ANY WAY QUALIFIED TO GIVE INVESTMENT ADVICE, SO I ENCOURAGE THAT YOU DO YOUR OWN RESEARCH BEFORE MAKING ANY FORM OF FINANCIAL COMMITMENTS TO ANY BLOCKCHAIN PROJECT. CONSULT YOUR FINANCIAL ADVISOR BEFORE MAKING ANY FORM OF INVESTMENTS, TO BE SURE TO ABIDE BY THE RULES GUIDING CRYPTOCURRENCY INVESTMENTS IN YOUR JURISDICTION AND TO BE FULLY AWARE OF THE RISKS INVOLVED.
Website: https://www.lipchain.io/
Whitepaper: https://www.lipchain.io/assets/pdf/white_paper.pdf
Twitter: https://twitter.com/lipchain
Facebook: https://www.facebook.com/LipChain-1754237891332927/
Telegram: https://t.me/LipChain
Bitcointalk: https://bitcointalk.org/index.php?topic=4507111.0
My Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1556229
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