FREQUENTLY ASKED QUESTIONS

FAQs

What are the details of this ICO, and how do I participate?

  • The CCitiesLZones crowdsale will hold from February 23rd 2018 to March 23rd, 2018. The pre-ICO will end on February 23rd, 2018.
  • It will be held on the Waves Platform’s Decentralized Exchange (DEX). Participants willing to purchase CCitiesLZones token can do so by sending Bitcoin to this Waves Wallet address: 3K3ggaWU4McB4SriuVcxnJqjY7Yrhr17xt
  • By doing so, they would be purchasing CCitiesLZones token at the rate of 0.0039164141 Bitcoin per CCitiesLZones token, which will be instantly sent to their wallet.
  • The accepted currency during the ICO is Bitcoin (BTC).
  • The hard cap for this crowdsale is 155,090 Bitcoin or US 1.3 billion. Once the hard cap is reached, the crowdsale will end.
  • Number of tokens in existence: 100 million
  • Number of tokens to be sold at crowdsale: 39.6 million
  • Token Distribution
  • 40 million CCitiesLZones tokens will be held by a Swiss based foundation to be incorporated after the crowdsale for anti-inflationary and liquidity purposes. 30 million of this will be locked for 7 months. One million of the tokens held by the foundation will be used to fight infant and maternal mortality in memory of Prince Charles Offokaja The Second, Charles The Infant, who died at birth.
  • 10 million CCitiesLZones tokens will be held by the Project Team
  • 10 million CCitiesLZones tokens will be used for bounty
  • 6 million CCitiesLZones tokens will be sold at the ICO
  • 400,000 CCitiesLZones tokens will be sold at the pre ICO
  • Even though the tokens are re-issuable, we do not plan to make a habit of reissuing them, except in cases where the superintending foundation believes it is an absolute necessity, or in cases where we have to raise funds to build a new city.
  • Disclaimer: CCitiesLZones token is not a security or share. It is not an IOU. Rather, it is a utility token meant to be used by tourists, residents and businesses based in (a) proposed blockchain city(ies) for transactions.
  • Due to regulatory concerns, citizens and residents of the US and China are not allowed to participate in this ICO.
  • CCitiesLZones team shall do its utmost best to make this token one of the most valuable products ever created.
  • Any unsold tokens will be awarded to the project team
  • There are 8 decimal units of this token
  • The lowest decimal unit of the token is called orkaja
  • The second lowest decimal unit is called Charles The Infant or CTI

To participate in this sale when the ICO starts, simply send Bitcoins to this address: 3K3ggaWU4McB4SriuVcxnJqjY7Yrhr17xt

 

Is there a pre ICO?

Yes, and it is already on.

  • To give token patrons a discount and generate funds for initial marketing and other strategic actions, we are holding a presale on Waves Platform.
  • We will sell 400,000 CCitiesLZones tokens for 738 Bitcoins at the rate of 0.0019582070 BTC per 1 CCitiesLZones token. The presale ends on February 23rd, 2018.
  • To participate in the presale, simply send Bitcoins to this address: 3K3ggaWU4McB4SriuVcxnJqjY7Yrhr17xt

Why Do We Need Blockchain To Build Our Charter Cities/LEAP Zones?

  1. Because Cryptotokens are the future of payments. Since Blockchain technology is here, why not leapfrog older technologies instead of deliberately sticking to mediums of payment that are fast getting outdated?
  2. To achieve a critical mass in cryptotoken adoption, as that is the only condition in which cryptotokens can achieve a measure of guaranteed stability in the face of the extreme price volatility presently obtainable. The CCitiesLZones ecosystem of Blockchain-powered cities have the potential of becoming the largest offline cryptotoken market in the world.
  3. To give cryptocurrencies guaranteed jurisdictions to grow in and expand from in the face of global regulatory uncertainty. Since 2018, we have witnessed attempts by regulatory authorities to stifle the growth of cryptocurrencies through controversial pronouncements, attempts to introduce regulations or even out-rightly ban the young cryptocurrency industry. At a time like this, what is needed more than ever is (a) guaranteed jurisdiction(s) where the use of cryptocurrencies in economic transactions are guaranteed, and can even provide a proof of concept that cannot be controverted.
  4. As a launch-pad for cryptocurrency firms to export blockchain services. For instance, Honduras and several other countries are very interested in registering land titles in the Blockchain. If we establish a Crypto Free Zone there, maybe your company can easily get that or a similar contract.

 

Any Proof Of Concept?

The CCitiesLZones Team Leader, Prince Charles Offokaja and Project Consultants, The Prince And Princess Charles Offokaja Foundation a Nigerian NGO with CAC registration number 75980, started looking at ways to bring in socioeconomic development to Third World Countries while protecting Blockchain technology. We realized that Cryptocurrencies are an inalienable part of blockchain technology, but a part that while needing fair regulation, faces a lot of real and threatened unfair regulation.

So that led to a realization of the need to create reform jurisdictions where cryptotokens can be traded freely, while systems are strong enough to prevent criminal abuse:

The first question was how can such a regulation be granted? The answer was,

  1. Quickly, by identifying a country where a legal framework -divorced from potential political policy shifts- already exists for the adoption of a Charter City or LEAP Zone; so all we would need to do would be to make sure their concessions are adequate and meet requirements of the host country, or
  2. Less Quickly, by lobbying countries and showing them the benefits of granting us a Charter City or LEAP Zone jurisdiction: This might be slower but we would be able to compensate for that by successfully negotiating to get more concessions than previously existed.

We identified option 2, lobbying countries as a possible recourse, noting that the Seasteading Institute, a private NGO trying to establish sea-based autonomous cities -by lobbying and negotiation- recently got rights to establish an autonomous city from the government of French Polynesia, a Pacific Ocean based country.

We also noted that Honduras, a country in Central America has already established a legal framework for private autonomous cities. Thus, we decided that Honduras qualified preeminently to be the host of our first 100%Cryptotoken-Adopted DEX platform and city.

The Honduran Government has shown free-market leadership in this area by amending its constitution to provide such cities, which it calls ZEDEs or Zones for Economic Development and Employment. Not only that, they created an organic law, the ZEDE Law, to guide the creation and administration of such cities, and are willing to grant such rights to entities that show that they have the financial muscle to develop such cities in their country.

Article 1 of the ZEDE Law states that: Within the ZEDE, Articles 10, 11, 12, 13, 15 and 19 of the Honduran Constitution shall be fully applicable. The other 379 articles of the constitution are not directly applicable, hence the status of the ZEDEs as autonomous cities/jurisdictions that remain an inalienable part of Honduras.

Note that this is an unofficial English translation of the law, as there is not yet an official English translation.

We also noted that Article 2 of the ZEDE Law conforms with our goal of providing economic value for the Host Country, the residents and businesses of the city, as well as holders of CCitiesLZones tokens:

 

ARTICLE 2. – Zones of Economic Development and Employment (ZEDE) can be established to develop National and International Financial Centers, International Logistics Centers, Autonomous Cities, International Business Courts, Special Investment Districts, Renewable Energy Districts, Special Economic Zones, Areas subject to a Special Legal System, Special Agribusiness Areas, Special Tourism Zones, Mining Association [p]Areas, Forest Association Areas, or any other special arrangements not listed in this Article or which include a combination of several of these regimes in order to ensure the development of investments under inclusive and similar models.

Article 30 of The sublime ZEDE Law of Honduras, which we would trigger should we get your financial support in this ICO, would allow Cryptocurrencies to be used freely and legally within the CCitiesLZones ZEDE, thus facilitating 100%Cryptotoken-Adoption and allowing the city to function as a Decentralized Exchange (DEX) super platform.

Article 30. states: Monetary exchange control measures are not to be enforced within the Zones of Economic Development and Employment (ZEDE). The means of payment that circulate within the Zone of Economic Development and Employment (ZEDE) should be freely convertible. Currency markets, gold, securities futures, commodities, and so forth can exist freely in the Zones of Economic Development and Employment (ZEDE). The ZEDE must guarantee the free movement of capital within, into, and out of its jurisdiction. The flow of this capital of Zones of Economic Development and Employment (ZEDE) into the rest of the country or the national market must follow the applicable national standards. Zones of Economic Development and Employment (ZEDE) are given the authority to establish controls that limit the use of physical payment means within their jurisdiction and to have domestic monetary policies.

After that, we asked ourselves, would this be sustainable? While there is never anything like an absolute guarantee, we noted the nearest thing to it in ARTICLE 45. – In line with the provisions of Article 329 of the Constitution, this Act may only be modified, amended, interpreted or repealed by two-thirds (2/3) in favor of the members of the National Congress. It shall also be necessary also to hold a referendum or plebiscite for the people living in the area subject to special arrangements when their population exceeds one hundred thousand inhabitants. In the event of the repeal of this Act, the same shall continue to be in force for the period specified in the clauses or legal stability contracts signed with individuals or businesses residing in or investing in Zones of Economic Development and Employment (ZEDE). The transition period may not be less than ten (10) years, in which period the rights of residents and investors in the Zones of Economic Development and Employment (ZEDE) shall remain in effect.

Thus, only a government willing to nullify the law and possessing a willing majority of not less than two thirds in of the Honduran legislature can end this law. Even if such an event should ever occur, guarantees for cryptotoken operators and residents would continue for not less than 10 years.

(See full unofficial English interpretation of the ZEDE Law further below in this whitepaper.)

So, the next task for us was to identify the specific requirements needed for us to establish a ZEDE in Honduras. For that, we went to the ZEDE website, and the screenshots below show the conditions we saw for any developer willing to establish a ZEDE:

 

 

But we needed more confirmation before coming to you with this crowdsale offer, so we emailed them, incase there have been changes to the requirements. Below is an edited screenshot of the reply of the ZEDE authority of Honduras:

 

It is clear that all the requirements the Government of Honduras has made would be easily met if you the crypto investor adequately supports this crowdsale. CCitiesLZones token is not a security. It is not an IOU. It is a token that will build cities where all cryptotokens can be used for all purchases. It is a token that will be used by you as a tourist, resident or businesses that opts into CCLZ cities. It is also a token you can sell to other tourists, residents and businesses that opt in. It’s potential for massive increase in value is very clear. It is also a token that will help eradicate extreme poverty in the Third World. It is also a token that will help fight infant and maternal mortality, as 1% percent of its value will be donated to organizations fighting such under the Charles The Infant memorial fund (CTI).

We asked ourselves why since 2014 when the ZEDE Law was enacted the first ZEDE is yet to be established, and that led to enquiries. From information gathered from a highly connected source, we discovered that some organizations that made attempts to establish ZEDEs were probably unable to get full approval due to a lack of funds, which is logical. But with our ICO, we believe we would be able to get the funds to scale past that hurdle.

So, what happens in the unlikely eventuality that the Government of Honduras declines to grant us a ZEDE for whatever reason? The Team decided that in that eventuality, we would simply shift to Option 2 as identified above: And that the publicity, experience and recognition-of-integrity we would have generated from this crowdsale, our efforts in Honduras and the success of the Seasteading Institute in French Polynesia would make it easier for us to get a 100%Criptotoken-Adopted DEX City in another country.

Where can I see a copy of the ZEDE Law of Honduras?

You can find an unofficial translation in our whitepaper.