Project Summary

Project Name

The Loki Project

Link to your asset page on Binance Chain

Your name and position

Simon Harman - Founder and Managing Director

A one-sentence pitch about your Project

Loki is developing a decentralised, end-to-end encrypted private messenger, onion router, and anonymous payments network which are leveraged by a self-regulating incentivised node network to create the ultimate platform for digital privacy.

What are you planning to achieve with your project?

The Loki Project aims to provide users worldwide with open source privacy tools that they can use to enjoy a higher degree of security and privacy when communicating and transacting online. By leveraging the blockchain and proof-of-service, we can create a self-regulating network of nodes that collectively form the basis for a decentralised network which can be used to route traffic, store messages, and process transactions. Using this system, we are able to create a messaging application that rivals existing products in terms of user experience while also achieving a much higher degree of metadata protection and anonymity.

What is the team size now?

Please list each core member of the Project team and outline their role and responsibilities. If any project member is involved in other projects, please clearly state their commitment and how they avoid conflict of interest.

Team - 20

Simon Harman - Project Lead -LinkedIn

Kee Jefferys - Tech Lead - LinkedIn

Chris McCabe - Operations Lead - LinkedIn

Josh Jessop-Smith - Marketing Lead - LinkedIn

Doyle T - Core Developer - GitHub

Jeff B - Lokinet Developer - GitHub

Ryan T - Lokinet Developer - GitHub

Tom W - Core/Lokinet Developer - GitHub

Maxim S - Core Developer - GitHub

Sacha V - Mobile Developer - GitHub

Beau B - Mobile Developer - GitHub

Michael T - Lokinet Developer - GitHub

Rick - Windows Developer

Mikunj V - Mobile Developer - GitHub

Johnathan Ross - Research & Documentation - LinkedIn

Niels A - Mobile Developer

Lucy Lovegrove - Marketing Manager - LinkedIn

Chris Pavlesic - Operations Support - LinkedIn

John Pacific - Technical Advisor - GitHub

Maxim A - Community Manager

To our knowledge, none of the above members work on any other cryptocurrency project. The team members listed here are dedicated full-time employees or contractors. There are several more people such as lawyers, accountants, board members, and community members that contribute significant time, expertise, and resources to the project.

Project Website

Share a link to your project’s whitepaper

Share a link or image of your roadmap

Where are you right now in your roadmap?

We are weeks away from launching the first iteration of the Loki Messenger on the mainnet and the Loki Service Node network. We’ve been constantly chipping away at the features in our whitepaper, and we’re really excited to release a useful product into the hands of real users so that we can start working with the community to improve and expand the feature set of Loki Messenger. Lokinet is nearing a stable state, having been developed from scratch since April 2018. For the last few months, it has undergone community testing, and we hope to deploy it on the mainnet towards the end of 2019.

What is the business model of the Project?

Loki’s network is run by Service Node operators, and the majority of the block reward is returned to them as a reward for their service. However, a small percent of the block reward is delivered to the Loki Foundation, a registered charity in Australia that administers the funding of the Loki Project. The network is monetised through the Loki Name System which allows users to pick usernames and addresses for their messaging, payment identities and websites that they deploy on Lokinet by burning Loki tokens. This offsets the inflationary effect of the block reward.

What is the potential user base and market opportunity?

The desire for digital privacy has never been greater. People and businesses want to be able to send money, share information and conduct a conversation with privacy they can trust. We aim to equip people with the greatest possible level of anonymity and security online with comparable user experience. Digital privacy is important to everyone, but in particular, we expect the initial user base will be comprised of digital privacy advocates and security-conscious individuals. There is a broad market in terms of applicable industries our tools will appeal to, but there are specific users with an interest in digital privacy.

Token Information & Economics

Token Name and Symbol

Loki & LOKI

What is the primary use case of your token?

Anonymous Payments and Name System Utility

Where else can your token be used?

There are several store integrations through Coinpayments already, and the potential for many merchants over Lokinet as SNApps are deployed.

What is the total supply of your token?

Loki has no finite supply. The emission curve has been designed to optimise the balance between rewards and inflation. More information, including our economic paper, is available on the papers section of our website https://loki.network/#papers

What is the circulating supply of your token? >https://lokiblocks.com/api/circulating_supply

Please provide a breakdown of current token allocation.

22.5 million Loki was premined in May 2018. 56% of that premine was sold off to dozens of investment firms and groups. Due to the private nature of the blockchain, it is difficult to ascertain the current state of token holdings, but most of the current supply has been brought into existence by miners, so we believe the distribution of Loki is very wide.

Please provide a list of team wallets that hold your token.

Due to the private nature of the blockchain, this is not possible. However, more information and the view keys for the Foundation wallets are available here: https://loki.network/2018/05/16/loki-premine-report/

Please provide all lockups in place for any holders of the token.

See https://loki.network/2018/05/16/loki-premine-report/ for a detailed explanation of the lockups.

Is your token a security token? If yes, did you get the required approvals from regulators in your jurisdiction?

No, the legal advice we received gives us confidence that we are not a security under Australian Company Law definitions.

Is the token currently running on any network other than Binance Chain? If yes, what is the swap/migration plan?

Loki is not currently integrated on any other network besides its own. Loki will continue running on its own mainnet, but the introduction of a Binance chain integration allows for a dual token system that will let users access Loki through the Biannce DEX.

Is the token currently listed on any other exchange? What are they?

Kucoin, Tradeogre, Cryptobridge, Cryptowolf, Coinvest

Funds

Did you conduct an ICO or any type of fundraising? When was it?

Yes, we conducted a private sale raise in March 2018. A full report can be found here: https://loki.network/2018/05/16/loki-premine-report/

How much in total did you raise?

Approximately $11 Million AUD

How much have you spent in total thus far? What have you spent these funds on?

Approximately $2.5 Million AUD. Funds have been predominantly spent on scaling up the team with development talent to fulfill the roadmap/vision, and general expenses (marketing, operations, research, etc). We believe product development is the core of what the project set out to achieve, and our focus will remain there until all of our products are in a stable state.

How much runway does your project require to ship the final product?

We currently have at a minimum of 2-3 years of runway left with the current funding model. This is more than enough time to deliver on the full product suite, and if the adoption of these products is successful, the project can continue indefinitely under the funding model.

What currency/coin/token do you plan to hold your funds in?

The majority of raised funds were liquidated into AUD immediately following the sale period. We have a small percentage of those funds held in BTC. The Loki held by the Foundation is used in very limited circumstances and is being withheld for future funding rounds in the years to come.

What’s your coin storage/conversion policy? Do you only convert to fiat when you spend?

We have working capital for the next 2.7 years all held in Australian Dollars.

How do you plan to publish your spending each month?

Currently, the Foundation does not publicly share monthly spending rates. Instead, we are audited every year in order to maintain our charitable status in Australia. We are currently being audited by EY, and the financial report for the 17/18 financial year will be made available when it is completed.

Where are your funds stored? Please provide the addresses for public community tracking.

Due to the private nature of the Loki blockchain, and the fact that we hold most of our assets in banks in Australian Dollars, this will not be possible. Our main wallet for storage of BTC is broken up between many addresses, but you can see some of them here: https://www.blockchain.com/btc/address/33aBkoHE1wWvK7kLpK4wZvvgovZiuMiVyf

Development

What are the technological innovations of the project, if there are any?

There are dozens of innovations across the Loki product suite. To our knowledge, no one is developing a private messaging app with the same qualities as the Loki Messenger. We were also the first CryptoNote coin to implement a masternode system, which has been running successfully on the mainnet since September 2018. Lokinet is a brand new onion routing protocol that also offers a range of unique properties and features. More information about our products, innovations, and unique designs can be found in our whitepaper.

Where are your code repositories located?

All our code is open source and can be found on our public Github here: https://github.com/loki-project

Do you have any products or UI demos can you share publicly? Are any built by your community, as opposed to being in-house demos?

We recently released a Loki Messenger demo on YouTube: https://www.youtube.com/watch?v=PY6Ol9vJuaY

Most of our work has been testable for several months. Anyone can jump into the repository and build the source to see how things are going.

Do you plan to release weekly progress updates in this forum?

Yes, we have been releasing weekly development updates for over 12 months now. They can be found on our blog here: https://loki.network/blog/. These articles have also been continually added to the Binance Info page on Loki.

Do you plan to host monthly or bi-monthly video AMAs?

Yes, we regularly host AMA videos and have recently begun hosting community roundtables, the first can be viewed here: https://www.youtube.com/watch?v=IlzN2e1tMKE.

Competitors

Who do you view as your current competitors/peers?

TOR, I2P, Monero, Orchid Protocol, Elixxir, Signal, Status.

What is your project’s competitive advantage over existing or potential future solutions?