In order to fund and boost the LifeRun plan, an Initial Coin Offering (ICO) will be conducted. This fund raising is open globally to people who have interests in running sports and block chain applications, based on the so called first come first served.
The public sale will distribute 35% of the total number of LifeRun Coin tokens. The remaining 65% of total LFR tokens will be distributed as follow:
· Runner Users award - 35% - to award the exercise runners who have joined with LifeRun system;/p>
· Development and Bootstrap - 7% - For technique and channel developers, partners who support and speed up the adoption of LifeRun App and Coin;
· Incorporate Management - 5% - for Incorporation team, hosting the ICO project and so on;
· Key Contributors - 10 % - for the LifeRun system designer and key contributors to the ICO idea development;
· LifeRun Foundation - 8% - for public welfare and charity activities which drive people to like physical exercise and bring up with positive lifestyle. The LFC gain from any possible business cases will be put into the LifeRun Foundation and will be used to reward excellence runners or maintain the LFC value.
The funds received from the LFR ICO will be applied in:
(a)Development of the LifeRun online and offline system (50%). To establish the mobile App, cloud computing structure, treadmill embedded system, runner ranking system, and so on.
(b)Promotion of LifeRun Chain (20%). These costs include those for the initial promotion of LFR to developers, users, partner OEMs and app stores. The promoting team will drive a worldwide dissemination effort, the multilingual website, community building, social network presence and related works.
(c)Investment of partnered mobile applications and treadmill makers and so on (25%).
(d)Legal costs (5%). The legal team will provide advice in every aspect related to regulations and policies.