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The $LQT token is designed as the main utility token of the Liquidifty ecosystem and will be used for farming, paying fees inside the platform and also as a reward instrument for users. The token will be created using the Binance Smart Chain and will be capped at 50 million $LQT. Among the functions that the $LQT possesses will be its ability to be used for buying NFTs, receiving discounts and exclusive drops. The team aims to constantly improve the deflationary mechanisms for using the token and motivate users to hold and burn their $LQT tokens. The token will also be implemented as a payment currency inside the ecosystem in the near future and holding of $LQT tokens will allow its holders to receive discounts on the purchase of NFTs.
The development team is placing extreme importance on the fact that the token is not being positioned or developed as a speculative instrument for hype purposes. The coin has real applications within the Liquidifty ecosystem and a deflationary mechanism to ensure that its market value and price are maintained.
Among the functions that the $LQT possesses will be its ability to be used for buying NFTs, receiving discounts and exclusive drops. The team aims to constantly improve the deflationary mechanisms for using the token and motivate users to hold and burn their $LQT tokens. The token will also be implemented as a payment currency inside the ecosystem in the near future and holding of $LQT tokens will allow its holders to receive discounts on the purchase of NFTs.
A number of exclusive drops will also be made available only to holders of $LQT tokens and governance functions will be provided along with it. Holders of $LQT tokens will be able to submit and vote on proposals about trading fees on the Liquidifty platform, the addition of new features to be developed or implemented by the team, and the the use of $LQT token to further decentralize the governance and development of the platform as a whole.
$LQT token holders will also become part of Liquidifty’s community-based platform moderation and will be helping curate the content marketed on the platform. The community can vote on which artwork belongs to its weekly pick, giving them an added boost in the reach that they need.
A specialized marketplace liquidity mining mechanism will also be implemented, allowing users to receive $LQT for buying and selling arts on the Liquidifty platform. The Liquidifty team will distribute $LQT tokens to all active users on a weekly basis with 50% of the tokens to be distributed to buyers and 50% to be distributed to sellers, proportional to the volume of their sales and purchases from the preceding week.
The Liquidifty team also plans to introduce some vampire drops to attract users from other NFT platforms and garner support for the ecosystem.
Last, but not least, the $LQT token will be used as the main token for the native LQT Metaverse that will act as a gamification mechanism in the DeFi processes involved.
The Liquidifty development team is confident that the $LQT token will be highly demanded on the market as a utility instrument, considering the broad range of functionality being embedded in the asset. Stay tuned for more news and updates from Liquidifty.
Last modified 4mo ago
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