On this day, LinkBased took birth….
LinkBased (LBD) is a synthetically scarce elastic token pegged to the derivative value of Chainlink’s market-cap.
LinkBased is experimental and we advise you to approach it with caution! The token itself is valueless and should be interpreted as such. We have taken all necessary measures to ensure that the system works as intended and have tested it before going onto the main-net.
The concept of LinkBased is derived from the innovations created by Ampleforth and other rebase protocols that have come onto the market. LinkBased is a pseudo-deflationary token with game theory properties of transfers in order to maximize the incentives of liquidity providers. Our goal of the project is to create a protocol that utilizes the decentralized oracles of Chainlink, and create a secure protocol for the players of the network.
- One LinkBased (LBD) token is pegged to (Chainlink’s_fully_diluted_mcap)*0.¹¹⁰
- When a transfer in the network happens, 3% of it is used to incentivize LPs of LBD/ETH pair at Uniswap, on top of the Valhalla LP program (more information below).
Token distribution to begin LinkBased:
Our private sale sold out in 10 minutes through a fair and distributed manner by scraping Twitter profiles and limiting the amount to invest with $5K per wallet.
Valhalla LP Reward Program
The Valhalla is our take on the LP Rewards system. The ecosystem reserve will be used to support the Valhalla program, along with 120,000 LBD to provide the initial locked liquidity at Uniswap. The initial Valhalla will be for the LBD/ETH Uniswap pair, with plans to move this to other protocols and networks with more supported pairs in the future.
We highly advise you to take cautionary measures while interacting with our ecosystem.
Read more about LinkBased:
**Disclaimer: This project is not affiliated with the official Chainlink project by any means***