Lunch Money Whitepaper
Lunch Money the Ultimate Incentive
ICO dates
Start date:
End date:
Registrated in: Undefined
Platform: Ethereum
Type: ERC20
Lunch Money Whitepaper
2
ITO White Paper for Restaurant P.I.
Table of Contents
Title ............................................................................................................................................................ 3
Abstract..................................................................................................................................................... 3
Introduction............................................................................................................................................ 4
Market & Industry ................................................................................................................................ 6
Problem & the solution...................................................................................................................... 7
The solution and the produc.t......................................................................................................... 8
How does the Restaurant P.I. Platform work?....................................................................10
For individuals................................................................................................................................... 10
For restaurants.................................................................................................................................. 11
App monetization plan.....................................................................................................................11
Restaurant P.I. Rewards and Blockchain token (LMY..)............................. ......................11
How does the LMY Token work?................................................................................................... 12
LMY as the ERC20 token..................................................................................................................12
Technical partners.............................................................................................................................12
Competitors..........................................................................................................................................14
Why Blockchain technology in the Restaurant P.I. ecosyste.m?......................... .....14
Marketing plan for the App............................................................................................................15
ITE Details............................................................................................................................................. 16
Why should you participate?........................................................................................................17
Securities Law Framework.....................................................................................18
Road Map.................................................................................................................22
The team behind the project.........................................................................................................23
Token deployment and future plans......................................................................26
Lunch Money token social media links............................... ....................................................27
Conclusion............................................................................................................................................27
3
Title
Restaurant P.I.,connecting restaurant businesses and customers via the power of
Blockchain technology.
Abstract
Restaurant P.I. is a SaaS app that uses virtual tokens to motivate restaurant and bar
goers to submit feedback based on their experience , in exchange for exclusive deals
and discounts.This paper describes how we use Blockchain technology and smart
contracts to integrate an economic dimension to the Restaurant P.I. App. Through this
platform all feedback left by users for a restaurant or bar will be profitable. In result, the
owners can improve and grow their businesses. The Restaurant P.I. app and this white
paper have been forged after its founders years of experience in the customer service
domain, business consulting and from advice given by Blockchain experts.
The app is currently available on Google Play and is waiting for its Token Exchange . The
Restaurant P.I. platform will create a secret shopper ecosystem in cities worldwide. Users
will be able to receive deals and earn tokens for leaving feedback for a bar or a restaurant
via the app . Users will be able to store their LMY tokens in the Trust Wallet App , or use
them toward their meals at a participating food businesses .The Restaurant P.I. goal is to
improve the customer experience at every point of service through anonymous customer
oversights.
4
Introduction
In the US, customers often complain about poor customer service at restaurants.
Restaurants on the other hand find it hard to retain loyal customers , scale their business
and increase their revenue. According to restaurant and food marketing research, loyal
repeat customers of a restaurant account for at least 33 percent of the total revenue. While
they may only account for as low as 15 percent of the total customer base.
Revenue Break up
Repeat
Customers
15%
New
Customers
85%
Volume Break up
Repeat
Customers
15%
New
Customers
85%
With so many emerging and existing restaurant options in the market , customers
have developed very little tolerance for the compromised service quality at restaurants.
Their most common and crucial complaints include poor food quality , poor customer
service , finite menus , lack of healthy options, lack of hygiene, inconsistency in quality,
lack of loyalty incentives and negative feedback from other restaurant visitors.
To rival these issues, what can be the possible solution for a win-win situation for
customers and restaurant owners?
Enter Restaurant P.I., it is an on-demand secret shopper (mystery shopper) service for
restaurant and bar businesses. Restaurant owners can post exclusive deals and
discounts on the Restaurant P.I. platform.These deals can be exchanged by customers
for secretive and anonymous visits. Next, the customer will be able to submit valuable
feedback via the app on their experience. Once feedback by the customer is approved,
he/she is awarded with a coupon that can be redeemed during the next visit to the
restaurant.
5
The Restaurant P.I. platform has been designed for restaurant and bar owners
who are looking for boosted exposure and increased customer recognition. For
individual food enthusiasts and restaurant patrons,RPI offers opportunities to try
various types of food, get free deals and discounts in return of their feedback.
According to a Harvard study, by just increasing the repeat customer rate by as low
as 5 percent, the restaurant can increase their potential profits by 25-125 percent.
Hence, Restaurant P.I.’s concept aims at improving the value delivery from food serving
businesses to the customer.Thus satisfying them with the best possible standards
simultaneously.Owners can boost their businesses by improving customer service per
the feedback, gain positive recognition and retain loyal customers.
5% increase in
Repeat
Customers New
Customers
85%
25-125% iNnewcrease in
Customers
Pro8f5%its
6
Market & Industry
As of October 2017, the restaurant industry in the US has been valued at US$ 245
Billion, with a total of 294,633 businesses already in place. The annual growth rate of
this industry has been 3.1 percent monitored during 2012-17 and it employs
Approximately 4.5 million people in the USA.
Quick Facts
Value of Restaurant Industry
$245 billion
No of Businesses
294,633
CAGR (2012-17)
3.1%
No of People Employed
4.5 million
New
New
Customers
Customers
85%
85%
Following is a list of restaurant industry threats and opportunities that will justify the
creation of Restaurant P.I. Platform for the stated reasons.
● Customers continue to seek healthy meal options within an array of menu
items. Restaurant owners need to rapidly adapt to the changing demands to
flourish in this industry.
● Customer retention and loyalty is another crucial factor when it comes to the
success of a restaurant. Increasing the repeat rate and number of loyal
customers is necessary for expanding the business.
● International expansion is an essential on the pages of long-term strategy for a
restaurant.
● The strong price-based competition will emphasize the restaurants to deliver
higher-quality at reduced prices for the customers.
● New businesses struggle to gain customers their first few years. Having
access to the Restaurant P.I. app will help new food businesses gain
customers at an accelerated pace
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Problem & the solution
Problems and customer challenges in the existing restaurant market
Since the success of a restaurant business in the US depends upon the customer
satisfaction level, understanding the problems that the customers face regularly will help
the businesses improve gradually. Following are some crucial problems and challenges
that the restaurants need to improve upon.
Problems identified
Lack of quality
food
Poor customer
service
New
Customers
85%
Poor
hygiene
New
Customers
85%
Lack of incentives
to customers
● Poor food quality:Customers demand quality in every item that a restaurant serves
The items should be prepared in hygienic conditions , must be sumptuous and
freshly served. If the order is poorly prepared, takes too long to be served or arrives
cold, the restaurant is already losing the customer.
● Poor customer service:This is one leading reason as to why customers
never return again to a particular restaurant. The pointers include long waiting
time for a customer,negative behavior by the staff,not fulfilling specific
demands, and lack of welcoming treatment by the staff.
● Limited menu :Customers are growing more and more health conscious and want
more options on the menu . For example , gluten -free and organic dishes are high on
demand and restaurants need to adapt healthy options accordingly.
● Lack of cleanliness:This is another crucial insight that many restaurant owners
might overlook.Hygiene and cleanliness should be the top-most priority for any
food vending business. From cutlery to washrooms,cleanliness must be
maintained at all costs.
● Lack of consistency: Loyal customer-base is formed with consistency in
everything a restaurant has to offer.For example, if a customer loves a
restaurant’s service and food quality, lack of quality in any of the two aspects will
be compromise with his/her loyalty.
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• No incentive: A strong loyal customer-base is formed when a restaurant rewards its
returning and repeat customers.The gist here is not to bribe them but to show that
the business owner values them equally. Lack of incentive or rewards might feign-off
returning customers because they cannot see their loyalty being valued.
The above listed problems are customer -centric and if solved , can help bridge the quality
gap between restaurants and customers while complimenting each other.But , what
remains are two questions. How will restaurants know what to improve? How will
customers give their valuable feedback without being exposed or being biased?
The solution and the product
The above questions can be answered with “ continuous and anonymous customer
oversights.” This protocol can improve the customer experience at every point of
service.This can be achieved via a Blockchain technology platform that contains the
necessary features for the customer as well as the business. As an incentive to the
individual users of the app for their activity, a virtual token can be introduced as a
reward/ Incentive. Participating restaurant and bar businesses will be listed on the app.
They can upload information which will show potential customers the exclusive deals
and discounts that are being offered.
This can be achieved via a Blockchain technology Pla
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New
New
Customers
Customers
85%
This way, a customer ca85n% visit a particular restaurant and judge it on the service quality
parameters.Then they can leave feedback on the App platform on which the restaurant
can improve.For doing this, the individual user will be rewarded with the native
Blockchain tokens of the platform which can be transacted toward their meals.
Restaurant P.I. is the solution to meet customer-service challenges in the
restaurant industry!
Restaurant P.I. App
Restaurants
get shoppers
User gets deal
Solution!
Mystery shopper
Anonymous
feedback
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How does the Restaurant P.I. Platform work?
Restaurant P.I. is a Blockchain platform that serves as a portal between
local restaurant owners and customers around them.Blockchain technology
ensures transparency and trust in the businesses and customer relationship.
Exclusive deals and discounts are exchanged for anonymous visits and feedback
on the customer experience.Patrons remain anonymous while dining at
various participating restaurants. After submitting feedback, the customers
are rewarded with a deal coupon that can be used in the next visit.
For individuals
Download
the app
New
Customers
85%
Earn ‘LMY’ tokens
New
Customers
85%
LMY
Sign-up &
Login
Mystery shop &
feedback
?
Individuals can:
Choose interests &
restaurants to review
● Download the App
● Sign-up for free
● Log in
● Choose food interests
● Select restaurants to secret shop
● Visit the selected restaurant on the needed date and submit feedback
● Get rewarded with a deal coupon and receive Lunch Money tokens
For restaurants
Download
the app
11
Get expos’ ure
and recognition
Sign-up
Login
subscribe
Confirm visit
& approve
feedback
?
Owners can:
New
Customers
85%
Create a profile
& post a deal
New
Customers
85%
● Display their restaurant details and deals on the Platform
● Assess the feedback given by the customer and improve upon it
● Gain exposure and positive recognition
● Build loyal customer base and increase the repeat-rate of the customer
App monetization plan
Restaurant P.I. will be free for customers whereas it will be a subscription-based
platform service for restaurant businesses .The subscription fee of $19.99 USD to use
the app will allow food vending businesses to take advantage of all offered services.
All participants in the Lunch Money Token Exchange will have free lifetime access to
the Restaurant P.I. app and will be "grandfathered in" in the event that changes are
made to the subscription structure.
The secondary monetization plan is through advertisements.This will be implemented
when the customer and commercial base (listed bars and restaurants) increases
sufficiently enough to generate returns from the ads.
Restaurant P.I. Rewards and Blockchain
token (LMY)
For every feedback an individual user submits, he/she will earn ‘Lunch Money’ or LMY
tokens.They will also earn LMY token for every deal redeemed by them. LMY is the
native non -fiat Blockchain currency of the Restaurant P.I. platform and is similar to
currencies like Bitcoin, Ether, etc.
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Lunch Money tokens will be transferred to the user’s free Trust Wallet App. Trust Wallet
is available on both the App Store and Google play and can be downloaded from there. It
must be noted that LMY is exclusive to the Trust Wallet.
How does the LMY Token work?
Lunch Money is the native Blockchain currency of the Restaurant P.I. platform. It is based
on the ERC20 algorithm and protocol.LMY tokens will be sent, received and stored via the
Trust Wallet App of the user,when secret shops are completed and deals are redeemed.
LMY as the ERC20 token
ERC stands for ‘Ethereum Request for Comments.’It is an official protocol of
the Ethereum network to propose improvements to this network . The number ‘20’
represents the unique proposal ID number . ERC20 represents a standard that the
tokens on the Ethereum network must meet. Lunch Money token is hence designed
to run over the Ethereum Blockchain and is compatible with all ERC20 tokens.
New
New
85%
Customers
85%
Blockchain Assets
ERC20 type tokens are deemed as Blockchain assets that possess value, and can be
used for trade, transactions and investment like any other digital currency. The major
difference between any standalone Blockchain currency (Like Bitcoin or Litecoin)
and the ERC20 token is that the latter ones run over the Ethereum network and are
hosted by Ethereum addresses. While, the former type have their own dedicated
Blockchain network. Both the type of Blockchain currencies possess value which
fluctuates as per the demand and supply rates.Therefore, with LMY tokens, the user
can hold them, trade for other currencies and assets or transact them toward their
meals.
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Technical Partners
Trust Wallet App
New
The
Trust
Wallet
New
AppCuisstomtheres
digital
currency
storage
and
Customers
transa8c5%tion
Platform
for
85%
ERC20 tokens. LMY tokens will be exclusive to the Trust Wallet Platform. This App is
free to use and is available on both the App Store and the Google Play store.
Trust Wallet features a private key for the user that is stored locally and protected by
many layers of encryption. The unique public key is stored on cloud and enables others
to transact with a particular user.
Trust wallet features an open-source codebase and is regularly audited by a community
of experts. The users can keep their data anonymous and private with the platform 's top-
notch security.
Trust wallet Platform has also entered into strategic partnerships with Kyber network,
POA network, Canya, Bitclave, and Changelly. These Platforms will allow the users to
make instant trades in a decentralized manner. Trust wallet will also allow for third-party
DApp interactions soon.
Visit Trust wallet App via- https://trustwalletApp.com/hello-world
Xicom Technologies LTD
XICOM is the official development team for Restaurant P.I. App.This Platform allows for
creating seamless native Apps for iOS and Android systems.This Platform provides
services to business from MVP (Minimum Viable Product stage) to deployed
and growing platforms, as well as to developers and designers.
Visit XICOM Technologies via- https://xicom.biz
WWW.RESTAURANTAPI.BIZ
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Competitors
Restaurant P.I. Platform has competitive alternatives like Groupon, OpenTable and
Living Social. No other companies are currently working in the customer service
improvement domain. One key aspect that separates Restaurant P.I. from its
alternatives is that it is built-over Blockchain technology.Moreover, this Platform
features unique reward system through its digital tokens i.e.,LMY. These tokens
can be traded, and used for transactions from within the user’s Trust Wallet
New
Customers
85%
New
Customers
85%
Why Blockchain technology in the Restaurant
P.I. ecosystem?
Blockchain technology enables transparency and quick operations between
the network ’s participants. The US restaurant industry witnesses a fair communication
gap between the customers and the restaurants. Customers often complain of poor
customer service, but restaurants find it difficult to identify the exact ‘scope of
improvement.’ They also perceive customers to be biased towards them. To create an
integral and transparent ‘feedback system’ between the customers and the restaurant
owners, a Blockchain network like ‘Restaurant P.I.’ seems to solve the purpose. If users
(Customers) remain anonymous and are paid an incentive or a reward to leave genuine
feedback for a restaurant , they would take it as a beneficial deal. On the other hand, a
restaurant as a listed user of ‘Restaurant P.I.’ can gain exposure via the App, boost
positive recognition and increase the loyal customer base.
15
New
Customers
85%
New
Customers
85%
Marketing plan for the App
Offline Marketing
The primary marketing plan includes marketing the App through our
commercially listed restaurant channel.The listed restaurants and bars on the App
platform will be provided with a marketing kit.This marketing kit will be comprised of
Table tents, pamphlets,door decals, and other marketing props to create the
awareness amongst the restaurant visiting customers.The customer upon recognizing
and knowing about the Restaurant P.I. App will download the App and decide to
continue further.
16
Marketing Plan
Primary
Restaurants
Marketing kit
Bars
Secondary
New
Customers
85%
New
Customers
85%
The secondary marketing plan includes marketing online and through social media. This
will include paid advertising on Facebook, Google, and Twitter.The specialized ads about
the App will drive downloads and increase our customer side user -base . This will be
followed by referrals and word pf mouth awareness by individual users. Relevant ads in the
print-media will also drive App downloads and create equal awareness among restaurant
and bar owners as well as their potential customers.
Tertiary marketing plan involves awareness campaign through events , street
attractions and on-foot pamphlet distribution to drive App downloads and boost the
customer base.
Initial Token Exchange Details
. ● The total supply of the network is 250 Million LMY
● The Soft Cap is 1M and the Hard Cap is 40M
● 150 Million LMY Tokens will be offered during the initial token exchange
● 2.5 Million LMY Tokens will be offered in each round
17
Initial Token Exchange Details (continued)
● 100 Percent bonus will be awarded to participants in the private exchange
Set Value: 1 LMY=.60 US Cents
● 75 Percent bonus will be awarded to participants in the pre token exchange
Set Value: 1 LMY=.80 US Cents
● 50 Percent bonus will be awarded to participants in the first round
Set Value: 1 LMY=$1.00 USD
● 35 Percent bonus will be awarded to participants in the second round
Set Value: 1 LMY=$1.00 USD
● 25 Percent bonus will be awarded to participants in the third round
Set Value: 1 LMY=$1.00 USD
● No bonus will be awarded in the the forth and final round
Set Value: 1 LMY=$1.00 USD
New
Customers
85%
New
Customers
85%
Why should you participate?
Restaurant P.I. is the first of its kind in the restaurant service industry.
It is based on Blockchain technology, something that no other platform in the
competition utilizes. As the App gains traction and expands its user -base, several
other competitors will pop -up thereby increasing the demand for such Platforms
Investing in a pioneer pays off in the long run.
As an individual, you will have the benefit of exclusive restaurant deals around you.
As an participant, you can be a part of history.The Restaurant P.I. App is a
unique concept and has industry disrupting potential.
The founders hold a specific achievable goal i.e., to improve the poor customer
service problems in restaurants and bars of through anonymous customer oversight
The Platform creates a win - win situation for both the customers ( through rewards
and incentives ) and restaurants (by boosting their Restaurant P. I. aims to
generate value for exposure and positive recognition ). The Restaurant P. I. App is
powered by the reliability and trustworthiness of the Ethereum Blockchain network.
This Platform is robust and allows for seamless Blockchain operations.
Attractive discounts and bonuses make the platform an attractive proposition .
23
The Team behind the project
Jeffery Varnado
(Founder & CEO)
Connect with him on LinkedIn
Derek Hawkins
(Trademark Attorney
of Restaurant P.I. project)
Connect with him on LinkedIn
-
Adrian Triplett
(Co-Founder and COO
of Lunch Money Token)
Connect with him on LinkedIn
Davorin Bebek
(Social Media Marketer )
Connect with him on LinkedIn
Abdullah Al Mamun
(UI/UX Designer)
Connect with him on Linkedin
Sonja Prstec
(Legal Advisor )
Connect with her on Linkedin
The Team behind the project
24
Destiny Aigbe
(Securities Counsel)
Connect with him on Linkedin
Nikolay Shkilev
(Advisor)
Connect with him on Linkedin
Erickvand Tampilang
(Community Advisor)
Connect with him on Linkedin
Vladimir Nikitin
( Advisor)
Connect with him on Linkedin
Jim Blasko
(Strategic Advisor)
Connect with him on Linkedin
Salman Qadir
(Chief Strategy Officer)
Connect with him on Linkedin
26
Token deployment and future plans (The
scope for Restaurant P.I.)
150 Million LMY tokens will be deployed during the Initial Token Exchange and the
rest 100 million LMYs will be harvested by users as the platform grows. Here are
the future plans of Restaurant P.I. project.
Global expansion: Restaurant P.I. plans to expand globally which includes
acquiring customers and restaurants on both ends of the platform in various countries
to implement our customer service improvement strategy.
Lunch Money Diner card : There is a road map plan for implementing the LMY Diner
Card in the future.Users can make use of their earned incentives with seamless credit
card technology. Lunch Money Diner Cards will be an option for all users of the app.
Xtra Lunch Money Diner Cards will be issued to users who constantly use the
Restaurant P.I. app, they will be awarded extra Lunch Money tokens once they reach a
specified milestone of completed secret shops.
Rooting for other food vending businesses: Customer service is not only a crucial for
restaurants and bars, but also for fast food joints , drive -thru, bakeries , food trucks , etc.
Restaurant P.I. plans to cover them in the future.
Expanding in various domains : Businesses in numerous domains rely on the quality of
their customer service. For example retail sector, telecoms & broadband services,education
industry, etc. Restaurant P.I. has a vast potential to tap into when it comes to improving
customer service and businesses through the power of Blockchain technology. There
will also be tie-ups and strategic partnerships with restaurant review and restaurant
reservation companies.
27
Lunch Money token social media links
Refer to these links to access Lunch Money (LMY) updates and relevant news
through the social media.
Telegram-https://t.me/lunchmoney
LinkedIn-https://www.linkedin.com/company/lunch-money-token
Facebook-https://facebook.com/LunchMoneyToken
Twitter - https://twitter.com/LunchToken
Conclusion
Restaurant P .I. is going to be a unique Blockchain platform, that benefits
both restaurant businesses and customers. It is an industry disrupting product
with a specific and achievable goal. The native LMY tokens will allow the customers to
save their fiat money and use their earned tokens toward their meals.Bars and restaurants
will also benefit by gaining valuable anonymous customer insights, improve upon them
and grow a loyal repeat customer base. In the future,Restaurant P.I. plan to
expand globally into various domains that require boosting their customer service and
scaling their business through quality and loyalty points.
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