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FAQ

General

What is BLK LUV?

BlkLuv.org is a non-profit organization on a mission to leverage new blockchain technologies to deliver a scalable, sustainable model to a new digital economy built with LUV. $LUV is the digital currency
that ends systemic racism.

Who is BLK LUV for?

Anyone that has access to an internet connection can sign up to BLK LUV to claim LUV to help us spread LUV around the world. Any interested Supporters, please contact us directly.

What is Blockchain?

A distributed digital ledger of data, which allows for the recording of processed transactions onto it in a transparent, automated, and hyper-secure manner. The data can only be amended via consensus and cannot be removed.

What is LUV Income?

LUV income is the idea of giving a recurring cash payment directly to people. In most cases, governments consider giving basic income to a country’s citizens. BLK LUV has created a game where a certain pool of income in LUV is distributed equally to all users. All you need to do is sign-up and create an account.

How do I invite my friends and family?

Simply share the www.blkluv.org website with them and invite them to sign up. BLK LUV is all about our tribe’s growth. You can then use your Token of LUV to buy, sell, and barter with each other with no middleman fees.

What is a Token/Tokenization ?

Tokens are digital representations of any asset. This makes them ideal for finding new ways to monetize art. Utility tokens provide access to a service or resource while security tokens are for tradable assets.

What does NFT mean?

Tech Language

NFT is an acronym for “non-fungible token” and you can think of it like a digital collectible, such as a trading card.

An NFT is similar to a cryptocurrency in the sense that it trades on a blockchain and has a monetary value attached to it. The difference between a cryptocurrency and an NFT though is that an NFT has certain characteristics that make it different from other NFTs, even if the two NFTs seem similar to one another.

LUV Language

NFT is an acronym for “non-fungible token” (NFTs). Fungibility refers to the concept of the ex-changeability of a particular item/asset. For instance, a dollar bill is a perfect example – a $10 dollar bill in my pocket worth exactly the same as the $10 dollar bill in your pocket (unless it’s fake). We could exchange these bills and both of us would neither win nor lose – because the value of these assets is the same and they are interchangeable.

Yet, if we were to exchange, let’s say, Bali hotel room keys, we would have completely different experiences, based on the unique information present on those hotel keys. This kind of item is the same, but the value is different because of the information unique to that item. We can’t simply exchange hotel room keys – as one key will have you in the penthouse, and the other might be a room on the 1st floor.

This uniqueness, or non-fungibility, is what makes NFTs so great. If we are to apply this concept to the cryptocurrency space, LUV is a great example of a fungible token. LUV has a total supply of 1,999,999,999 trillion identical coins – any user could exchange one LUV for another and the value would be the same.

 

LUV Cards are NFT’s

NFT digital collectibles

 

 

Token of LUV & Wallet?

What is a Token of LUV?

Tokens of $LUV are the crypto that powers the BLK LUV digital economy. In the BLK LUV economy, Claimers claim LUV digital coins, and supporters receive yield payouts in tokens of LUV for the capital they have committed to BLK LUV. LUV adheres to the ERC-20 standard and operates both on Ethereum mainnet and side-chains.

Where can I use LUV?

LUV can be sent and received to your friends, family, and contacts, enabling their use for heart-to-heart commerce and barter. In the future, LUV will be available for use with specific vendors and merchants, and available on exchanges.

Is LUV listed on exchanges?

LUV is currently not listed on exchanges but will be available in the future.

Token Model

What is the price of LUV?

$LUV is launched with an initial price of 1 LUV = .0001 USD. This was part of the initial system parameters. Immediately following the launch, the price of BLK LUV is variable and determined by usage. This means the price of 1 LUV is determined by how much someone is willing to buy or sell it for. BLK LUV is not a stable coin. Read our white paper to understand our trickle-up economy.

Are there a fixed number of Tokens of LUV?

Yes, the number of Tokens of LUV coins to be minted is fixed at 1.9 trillion. Please note that no Tokens of LUV are pre-minted, and all LUV are minted according to the logic clarified above. The reasoning behind the fixed supply and other parts of the BLK LUV monetary policy are detailed in the white paper.

Token Model

What blockchain is BLK LUV built on?

BLK LUV operates across two blockchain networks: the Ethereum mainnet, and Fuse.io, which is an Ethereum sidechain. Claiming LUV occurs on the Fuse network.

Can I see LUV in my MetaMask or other Web3 wallet?

BLK LUV operates across two blockchain networks: the Ethereum mainnet, and Fuse.io, which is an Ethereum sidechain. Claiming LUV occurs on the Fuse network.

How long does a send/receive transaction take?

A send/receive transaction should take approximately 5 seconds, which aligns with the Fuse blockchain time.

Any fees on transactions?

There are currently no fees to send and receive LUV if you are using the BLK LUV wallet. If you decide to use a third-party wallet, you will need to pay Fuse gas fees.

What is Gas?

This is the amount it costs to actually run a transaction or contract on the Ethereum blockchain. Think of it as a transaction fee that incentivises people to continue registering information. The fee is usually set by miners.