LoMoCoin is a location-based-service entertainment application with its own built-in cryptocurrency. This LBS app offers users Online-to-Offline (O2O) information in a worldwide treasure hunt-style event. These treasures will mostly be stored at physical stores and businesses in order to drive traffic to them. As players explore the map on the app in real life, they can find treasures and Mengdai (which can be redeemed for LoMoCoin tokens) and also get special offers with participating stores nearby. Businesses can send LMC directly to users to attract them. The LoMoCoin blockchain is open-source and uses a Proof-of-Stake consensus to secure it, while combining Proof-of-Work and Proof-of-Stake for the token’s minting process.
LoMoCoin (LMC) is the token that users can receive while completing activities on the LoMoCoin app.