Lennük | Token FAQ
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Token FAQ

Lennük – Blockchain for the travel industry

What is the aim of Lennük?

Lennük aims to utilize a new innovative blockchain platform that shall not only protect travel data, but also secure its privacy through encryption, preventing its uses for malicious purposes in the event of hacking and data theft. This will secure all travelers financial records and travel history.

In our modern technologically driven world, the threats of cyber-crime are increasing leaving data security a big unsolved issue. While it is evident that hackers and cyber criminals have targeted airports and travel institutions to steal data or request ransoms, the dangers associated with missing historical records in these scenarios can mean life or death for companies in critical situations with urgent action needed.

Lennük aims to eradicate this issue by implementing a blockchain data technology system that users and travel institutions can use securely and be confident that their data is safe, secure and protected against hacking and malicious activity.

Our main goals for Lennük is to revolutionizing all aspects of the travel industry onto blockchain to increase the efficiency of travel and  to maintain airplane/train/others.

What is the token allocation and public supply?

Lennük has an allocation of 100,000,000 tokens total of which 5,000,000 will be on offered for airdrop to our first 5000 supporters.  50,000,000 shall be allocated for the ICO which will run for about a month.  The remaining 45,000,000 will be held in lock up by the foundation and for incubator programs. The incubator programs will help to develop the Lennük project and ensure the beta testing of the blockchain is operative. All unneeded tokens held by the team will be burned.

What is the token sale structure?

The token sale shall start on Feb 1 2018 and shall run for 2 months. The token sale shall be conducted as follows:

45,000,000 tokens will be available for the full 2 months of the ICO. Tokens bought during the first two weeks will come with a 30% bonus. Tokens bought during the second two weeks will come with a 20% bonus. Tokens bought during the third two weeks will come with a 10% bonus, and tokens bought during the last two weeks come without any bonus.

There is no hard cap for funds raised in the ICO.

The ICO will be audited, internally and externally, for 2 weeks after completion and all tokens will be distributed soon after.

Participants will receive Nük tokens equal in value to amount of ETH/BTC contributed.

How does the market set the price?

Market price for Nük token will be determined at the end of the token sale based upon the total amount raised and sold. In the event that all tokens are sold, the calculation for token price is against the fixed supply available in public sale and those earned in the airdrop (55% of total supply) = 55,000,000 Nük tokens.

So for example, say $55 million is raised during the ICO, each token will have a value of $1. The price of the tokens will be determined AFTER the ICO and audits are complete.

What value will the Nük token have?

Although this is hard to foresee without knowing how much funding is raised, Nük token value will reflect on the developments of the project and its fundamental progress. For example, the platform development, the successful implementation from beta testers, the incubators (first global users of the operative completed system) and the ecosystem as a whole. As the ecosystem matures Lennük tokens value are expected to increase.

We also have plans to make arrangements with travel institutions to provide an allocation of energy and power for mining in order to allow Lennük to implement a method of trust and community sustainability.

How will your servers be protected or will you use cloud services?

Lennük is a hybrid blockchain technology focused on protecting very personal and private data regarding medical patients, therefore, our server providers will have a level of trust and mutual sharing of values to protect public data to the best of their abilities.

We will be decentralized to an extent, however, with future plans of our client travel companies allocating power and energy to the blockchain provides extra security to the blockchain itself. What better people to help protect their own patient’s data than the institutions whose data we are helping to protect? Therefore, the basis of trust is also developed as travel companies will want to provide small allocation of energy for mining services, in order to keep the platform decentralized, however, in a hybrid manner of being powered by the ones who need protecting themselves. Therefore, the trust level also allows us to run a decentralized and independent blockchain which is powered by the help of the client business, as well as utilizing cloud services.

This also allows us to host a micro-services cloud platform which is partially powered by the different travel businesses and people themselves with the extra security of cloud.

We will also look to make collaborations with Amazon AWS, expected to follow with Google, as well as other cloud hosting platforms where essentially all data shall be double backed up to ensure extra security.

When will I receive the Nük tokens in my wallet?

Also: How will Nük be distributed?

Lennük tokens will be distributed after the public sale ICO is completed after enough time has been taken to conduct two internal audits and also an external independent audit for assurance and precise allocation.

We expect the auditing period to take between 2-3 weeks.

What are the wallet settings for Lennük token?

These details will be published before the distribution across our communication channels.

What is the main Ethereum/BTC/BCH address?

The main Ethereum address is 0xFf9a376820d83078B1FA03ab87f974C370C74868

The main BTC address is

1HGrcx3Fsn82Wa4e8haN2bBFvykMqN2XHb

The main BCH address is

qqxr2us0l0hmdxkue66avdwd7q55rxg9lqg9f4q669

There are alternate ETH addresses used for marketing tracking and strategic referrals. Both these addresses will also be posted on our Bitcointalk Page for verification. If the two addresses don’t match, do not invest until they are fixed!

How much Gas should I use to send my ETH contribution? (Ethereum)

We are collecting contributions at an Ethereum address, not a smart contract.

You should generally use the default Gas value that you wallet provides (e.g. myetherwallet).

When is the public token sale/ICO?

The public sale of Lennük begins on Feb 1 2018 until April 1 2018.

Is the sale open to US Citizens?

Yes, the Lennük token will be available to US citizens after the first week of the ICO. We are currently in talks with lawyers and the process for a legal and registered ICO in the US is longer than expected.

Are contributions accepted from non-us citizens?

YES, contributions are accepted from non US citizens.

YES, contributions are accepted from US citizens.

YES, contributions are accepted from anyone.

All humans are welcome!

Is there a whitelist?

Also: Is there a KYC process?

There is no whitelist – anyone can join.

There is no KYC process or pre-registration to participate.

Is there a cap for the token sale?

 

There is a fixed supply of 100 million Nük tokens and there is no cap on contribution. Nük tokens will be distributed proportionally based upon ETH/BTC/BCH value contributed per sending address per week sent.

Is there a hard cap?

Soft cap = $1 million

No Hard cap.

Can I send BTC or ETH directly from an exchange to participate in the ICO?

Never send from an exchange, you will NOT get Nük Tokens in return.

Send from your personal wallet where you own the private keys and where your Nük tokens are available for storage.

If you send from an exchange address, please provide us with a return ERC20 compatible wallet address.

Why no cap on contributions?

The Nük Token sale is NOT an uncapped ICO where tokens are purchased at an arbitrary price and minted as money comes in, with no way to determine how many tokens will be created or how much money raised.

We’ve capped the token count, and want the market to set the price.

How is the value of ETH determined for the distribution equation?

Nük tokens will be distributed evenly based on the token bonuses at the different weeks of ICO. The measure will be calculated based on the Ethereum USD price valued every day at midnight 12am (UTC) universal time zone.

Considering how substantial this uncapped raise might be, do you happen to have an investment allocation plan for a large raise?

The platform and incubator will scale with the raise.

A large raise will allow us to expand the features and number of projects that can be incubated early.

We may also be able to more quickly support Google, MS, and other platform integrations.

What is the total distribution of Nük Tokens?

Category Percentage NÜK Tokens
Public 50% 50,000,000
Airdrop 5% 5,000,000
Foundation & Reserves 40% 40,000,000
Possible Bounties 2.5% 2,500,000
Incubator 2.5% 2,500,000

All team tokens will be locked and released over 4 years after the completion of the Lennük application. Some may be burned.

When will the Nük Tokens be distributed to purchasers?

After public sale and audit.

Are you in discussions with any exchange platforms to be listed?

We are in talks with a few exchanges currently. All listings will be done after the ICO and token distribution.

I accidentally sent ETH from Coinbase/Gemini/Jaxx etc..

We can’t guarantee we’ll be able to recover your Nük tokens if you don’t own the keys used to send the Ethereum. The more details you’re able to provide via email the more likely we’ll be able to help.

What makes Lennük different / better?

  1. It’s a hybrid system that lets a travel business (enterprise or startup) have its own chain and achieve enterprise consensus in stages all the way to one or more public blockchains (eg BTC or ETH).
  2. The architecture allows a project to control exposure of sensitive health data and smart contract logic.
  3. It doesn’t require the use of a FIAT currency (full trust at first layer).
  4. The project can start without full knowledge of its economy and monetize activity or assets late in the process.
  5. The commercial platform utilizes serverless architecture to enable simple and powerful scaling.
  6. Developers may code smart contracts in Java, Python, Node, or C#.
  7. There will be an incubator and marketplace for new projects.

What language does the platform use for writing smart contracts?

User may code in Java, Python, Node, or C# for smart contract development.

How are Nük Tokens used?

Nük Tokens are used for data storage for all sensitive information, setting up a separate node, provisioning smart contracts, subscribing to data feeds, for payments for ticket purchases, and for identity storage and other use cases.

What is the difference between Lennük or a sidechain in terms of interoperability?

Lennük is a platform, and can act as a sidechain with many interoperative methods. Nük token can be used as a way to interoperate with other systems and parallelize communication and data transfer between the public and private networks.

Thoughts on blockchain vs traditional data

Blockchain is a groundbreaking technology that has proven radical value in real applications in all industry over a relatively short time. In the over the course of the technological age, no other technology platform approach such power and promise as blockchain and cryptocurrency other than the Internet itself. The combination of decentralized secure and provable state along with system currency features provides unique capabilities that when considered holistically, stand alone among competing technology. That is, it is wrong to consider blockchain vs. database or blockchain vs. caching. One needs to consider the full capability of the platform and how dissimilar applications and services may use a subset of the common platform capabilities to their benefit and interoperate in ways not possible today.