By The Silver Bull

From the January 2018 edition of LITE LIFE

Did you know that LoafWallet is a fork of BreadWallet? And that BreadWallet recently raised $32M in funding in exchange for Bread(BRD) which is a ERC20 token? I hereby propose that the Litecoin foundation does something in the same vein to support development the of Loafwallet, a Litecoin rewards program and Litecoin Core. I know that the Litecoin Foundation has recently received a large undisclosed sum from Charlie Lee, but we have yet to see any new developers joining. The reward platform is extremely interesting. This could help propel adoption to astronomical rates. Just think about it. Imagine if in addition to paying minuscule fees you also get a cashback in the form of LOAF when paying with lites at select merchants. Much like a credit card with cashback without drawbacks. We do not have to issue an ERC20 token, but to be able to issue a similar token on Litecoin we would have to wait for the functionality.

ICOs are a financial regulation nightmare and have a bad reputation because of the high number of scams. Nevertheless if you prepare and get legal help this should not be a problem.

LoafWallet is much more than just a fork of BreadWallet and losh11 has done a terrific job on expanding the wallet. Much of the different Litecoin wallets development team is content on piggybacking of their Bitcoin counterparts which is fine as this enables that most of the Litecoin wallets is maintained by a small team. My opinion is that we should not be content with this. We should boldly go where no coin has gone before.This includes implementing the new fee calculation mechanism proposed by Charlie Lee. Developing a rewards platform similar to what BreadWallet is developing. Encourage new lips(Litecoin Improvement Proposals) with milestones and bounties. Help the lightning developers test their software on Litecoin and create material on how to run a node.



There is so much we can do.

LOAF token is a very ambitious idea and will probably never be made, but this kind of layer 2 innovations unique to Litecoin is what we need to stand out and survive.