2. LCG Token
LCG Token, the governance token of the LocaGo ecosystem, rewards users who interact, connect, or contribute to the app, such as check-ins and sharing real-world location information, and businesses that attract customers to use products/services. Token rewards encourage community-building and increase physical locations' value. Promoting businesses, campaigns, and events to users costs LCG Token. This encourages a dynamic and sustainable LocaGo ecosystem.
Token Functionality
Rewards active user participation (e.g., check-ins, sharing location/business info).
Stimulates community engagement and increases location value.
Acts as a fee for promoting businesses, campaigns, and events.
Encourages the development of a vibrant and sustainable ecosystem on the LocaGo platform.
Token Details
Total Supply: 21 Billion LCG
Token Name: LCG
Blockchain: Binance Smart Chain (BSC)
2.1. Token Allocation
Allocation Details
Seed Sale, PreSale (6%): Unlock 1% when listing on CEX, then vesting 1% weekly.
Listing Token (8%): Reserved for listing token, expanding presence, and reaching new user communities.
Media, Training, Marketing (5%): For media and marketing strategies, training to build awareness and support project development. Unlock 5% after listing, then vesting 5% monthly
Airdrop, Bounty, Community tasks (3%): Drive community engagement and interaction.
Advisors and Support Partners (2%): For advisors and supporting partners to ensure quality support from experts. Locked for 12 months, then vesting 5% monthly.
Rewards for Devs and Management (8%): For the development team and management, rewarding their efforts and contributions to the project's success. Locked for 12 months, then vesting 5% monthly.
Ecosystem Development Fund (8%): Locked for 12 months, then vesting 5% monthly.
2.2. Details of Token Allocation for the Community: 60%
Allocation of 60% reserve: 12,600,000,000 Tokens
Allocation in the first month after listing is 10 million tokens/day, decreasing by 5% monthly in 24 months, then fixing the issuance amount per day and allocating as follows:
10% for users based on Membership packages
70% for LocaNFT owners
20% for LocaNFC fund
2.2.1 User Allocation Plan
Users can participate in the token distribution process by purchasing Membership packages with different capacities.
To activate the daily Membership package, users must deposit 2 LCB each day.
The issuance quantity is 1 million tokens/day in the first month and calculated according to the formula:
2.2.2 Token Allocation for LocaNFT Owners
Evenly allocated to 1 million LocaNFT worldwide. If investors own locations, investors are allowed to liquidate the token income.
Each LocaNFT must have a business operating within it to receive the maximum amount of LCG, or Every day, each NFT must deposit 5 LCB to receive the maximum allocated capacity. If no LCB is deposited or the business does not operate, the LocaNFT's token receipt is reduced by 50%.
If LocaNFT locations are purchased after June 1st, 2024, the owner will receive additional LCG reserves from that LocaNFT.
The issuance quantity is 7 million tokens/day in the first month and calculated according to the formula:
2.2.3 Allocation for LocaNFC
Starting from 6/2024, the first month will allocate 2,000,000 LCG tokens/day, decreasing by 5%/month for the following months.
Allocation method: evenly distribute 1,000,000 gift boxes for 1,000,000 LocaNFT if no LocaNFC businesses participate in the package purchase. If businesses purchase additional packages, the allocation is divided according to the formula:
Note: Business owners must have 5 LCB to receive the daily LCG amount. Otherwise, they will only receive 50% of the LCG they received.
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