As you may have known, PlannerScape launched a token sale of PLAN Tokens on LATOKEN Exchange on 15 March 2019. We are excited to initiate this 90-day campaign also known as IEO. Funds raised from the IEO will be used for further development and operations of the project following the completion of our MVP in January this year. Along with the IEO, we are also doing airdrops on QoinPro and LATOKEN for the same period as the token sale. Upon completion of our IEO, PLAN Tokens will be listed and tradable on LATOKEN, with more exchanges to follow.
As such, a lot of community members will receive our PLAN Tokens and we have received enormous queries from the community about the utility of PLAN Tokens. Why do you need PLAN on PlannerScape platform and how can you use it? Although information about the utility of PLAN Tokens can be found in our whitepaper and lightpaper, I am more than happy to re-address this topic and share it with the community.
Blockchain Technology in the Future of Work
To begin with, discussion about the utility of PLAN Tokens needs to go back to the underlying technology of PlannerScape, namely blockchain. PlannerScape uses blockchain technology for a variety of reasons. In 2018, we have launched a custom-chain to serve as a GDPR compliant integrity chain to ensure the integrity of reviews and reputation profiles. PLAN Tokens are Ethereum based ERC-20 compatible tokens (contract address: 0x42Ac6Bad529e27A46969F612756a3C12356fB8e4) that enable the utility within the PlannerScape platform and acts as a medium of exchange between users. The average transaction time is 15 seconds.
The best way to explain the utility of PLAN Tokens is to describe what they enable:
- General Utility
- Medium of Exchange
- Loyalty Program
- Referral Program
First and foremost, PLAN Tokens are utility tokens, but not security tokens, equity tokens, securities or shares and do not entitle the holder to shares or equity interest in any PlannerScape entity, nor do they provide any voting rights. They are solely designed to provide utility within the PlannerScape platform (including PlannerScape Concierge and PlannerScape Marketplace) and we’ve devised a way to continuously increase the utility of the token as the ecosystem grows.
PLAN has no token emission or inflation schedule. New users receive a certain amount of free PLAN Tokens when they subscribe to PlannerScape. Users can use such PLAN Tokens to initially help them enable functionality within the platform and can deposit more if necessary. The PLAN Tokens provide access to features of the PlannerScape platform and can also be used as a medium of exchange between users.
Medium of Exchange
PlannerScape Concierge and PlannerScape Marketplace are used to outsource tasks and products and provide immediate access to resources and skills. Between users, they require payment in PLAN Tokens.
By using PLAN Tokens, most operational risk, as well as the typical 20-30% outsourcing commissions of traditional platforms are eliminated, while transactions are real-time, risk-free, and irreversible protecting all parties involved.
Such payment method enables users to be more competitive and earn significantly more when they execute tasks for others. There are minimal if any, downsides.
As abovementioned and as stated in our whitepaper, the PLAN Token can enable functionalities in the PlannerScape platform that cannot be enabled in any other way. We call these features “Extras”. These features require the user to hold PLAN Tokens. They don’t have to spend them, and they just have to hold them. If they don’t, and they can withdraw at any time, then the feature will automatically be disabled. In other words, these features cannot be bought with cash, credit card or through other traditional payment methods; they can only be enabled with PLAN Tokens.
Examples of such features are extensive personalization options, additional views or more elaborate reporting- and/or exporting functions. As we develop the product and the product matures, more of these Extras will become available to further enhance the utility of the PLAN Token.
PlannerScape also has a loyalty program. PLAN Tokens can be earned within the PlannerScape platform for reaching gamification goals such as achieving 10 goals, completing 20 tasks, or outsourcing 3 tasks. These PLAN Tokens can then, as previously mentioned, be used to enable Extras or be used for payments on PlannerScape Concierge or PlannerScape Marketplace. The amount of PLAN Tokens users hold, the duration they hold such tokens, and their trade velocity affect their status within the loyalty program. Higher tiers result in more benefits within the PlannerScape platform, such as early access to new features, improved profile exposure, etc.
PLAN Tokens can also be earned through the PlannerScape referral program. When users refer other users to PlannerScape or when these users refer others, they receive Level 1 and Level 2 referral bonuses in PLAN Tokens respectively. In total, the referral program goes 3 levels deep. These tokens can then be used like any other PLAN Token within the system.
PLAN Tokens provide a lot of utility within the PlannerScape platform and whoever gets them early (or keeps them) benefits in the future.
To receive your free PLAN tokens, please refer to our airdrop announcement here. To learn more about the IEO, click here. For the answers to the most frequently asked questions about the IEO, click here.