From the beginning, LINE’s growth as a company has only been possible because of user engagement,
and similarly for our blockchain project, LINE has pursued this initiative with our users in mind, as a way to share value with those participating in the LINE Ecosystem. That’s why the LINE Blockchain Team is building a universal, easy-to-use blockchain platform that is as easy to use as our flagship messenger.
The LINE Blockchain Ecosystem is an integrated network of services and applications built using
the LINE Blockchain and our cryptoasset LINK (LN) that is designed to make the implementation of blockchain and the token economy safe and seamless.
LINE Blockchain is a next-generation blockchain platform that is designed for everyone.
Anyone – even those with very little technical training – can generate and issue tokens of their own and share them with others.
The simplicity and convenience.
LINE Blockchain aims to become the first blockchain platform that can be seamlessly used by every user and developer.
While Bamboo Chain distributes and issues LINK (LN),
the Cashew and Daphne chains are for distributing and issuing FT/NFT (Fungible/Non-Fungible Tokens).
Or, to differentiate by their status: Cashew Chain is a test network, while Daphne is the main network.
Users can get LINK (LN) from the services that offer LINK (LN) as a user reward or through
cryptoasset exchanges that have LINK (LN) listed. LINK (LN) is currently tradable on BITFRONT (availably internationally except in certain U.S. states and Japan) and BITMAX (only in Japan), and Bithumb (only in Korea). In the near future, LINK (LN) is expected to be listed on other exchanges for better liquidity.
Users can use LINK (LN) to make payments and remittances, or to receive holder benefits,
as well as to use and engage in the LINE Blockchain. And the range of uses for LINK (LN) will continue to expand over time.
LINK (LN) issuance is limited to 100 million over three years from the beginning of issuance,
and is to increase by 5% annually thereafter.
Of the LINK (LN) issued, 80% (80 million) is as user rewards, while 20% (20 million) is LINE Blockchain’s reserve. The overall amount of LINK (LN) that can be issued over its lifetime is limited to 1 billion.
Out of the yearly issuance limit, the circulation of LINK (LN) will be determined by the participating entities in the LINE Blockchain Ecosystem and the Ecosystem’s growth.
It is critical for both LINE Blockchain and LINK that ecosystem to be structured in such a way
that the users who have been distributed LINK continue contributing to the ecosystem.
That is why we do not simply issue LINK as a reward, but instead are focused on developing a more sophisticated strategy to induce dApp users to use keep using LINK and contribute to the ecosystem. In addition, the LUCAS, which sets the allocation limit for each period according to dApp growth, has determined that there are certain limits to the ability to create a virtuous cycle in ecosystem growth. So, an alternative policy is being prepared, using data collected from previous dApps and users to better understand those limits and how best to improve.
LINK is still in the early stages of building the token economy ecosystem, but we are already working to improv our LINK policies and strategies in consideration of our stakeholders’ opinions as well as various regulatory issues and business environments. As the LINK issuer, we are determined to stick with our initial goal of creating a token economy system where everyone can grow together.
LINK issuance is capped at 100 million for three (3) years from its initial issuance,
with 5% increases annually thereafter. That means the issuance limit becomes 105,000,000 LN in the fourth year and 110,250,000 LN in the fifth year, etc.
The initial issuance date of LINK was September 3, 2018, so the original three (3) year period ends on September 4, 2021. The first one (1) year increase in the issuance limit occurs on September 4, 2021.
However, “LINK issuance limit” does not refer to the LINK circulating supply. The actual supply distributed to users increases gradually as the ecosystem expands.
With LINK being distributed gradually through our user reward system, we have two different categories for how we classify rewards: the amount of the issuance limit (Issuance, Mint) issued and stored by the LINK Blockchain on the chain and the amount of the circulating supply distributed to the market through repeated dApp usage.
For more information, please refer to the LINE Blockchain White Paper, the official website, and our Facebook page.
The market value of LINK (LN) is neither fixed nor pegged
— it varies depending on the supply and demand on the market.
On LINE Blockchain Explorer, you can view the blocks and transactions on LINE Blockchain,
details of the tokens issued on Blockchain Services, and see the issuance & circulation amounts and addresses of LINK (LN).
Anyone who wants to experience a blockchain service can join LINE Blockchain using their LINE account.
LINE users can store their tokens in their LINE Blockchain Wallet and sync their services with LINE Blockchain tokens through LINE Blockchain Developers. If you would like to engage/participate in the LINE Blockchain Ecosystem, please submit your request via our Contact Page.
LINE Blockchain-related news can be found via LINE Blockchain’s official website and social channels.
・ LINE Blockchain Site : blockchain.line.me
・ LINE Blockchain Facebook : facebook.com/line.blockchain
・ LINE Blockchain Twitter : twitter.com/linebc_global
・ LINE Blockchain Medium : medium.com/lineblockchain