Hello from the LINE Blockchain team.
Thank you all for your great interest in the LINE Blockchain ecosystem.
We would like to share the 2021 Business Plan progress with the LINE Blockchain community. In addition, we will elaborate on the future direction of certain services that have been delayed during planning.
1.1. Additional Listings of LINK
■ One of the major business plans for this year was the additional listings of LINK to external exchanges to increase liquidity and the number of holders.
■ LINK was listed on Korea’s Bithumb BTC market in August. We have ongoing discussions with multiple exchanges on additional listings of LINK and its expansion to other markets.
■ After the Bithumb listing, we planned for consecutive listings to be followed by, however, the schedule had been postponed with changes of regulations in the countries on which the exchanges are based.
■ We had reviewed some scenarios of listing LINK to any other markets; we have come to the conclusion that at the current stage LINK should be listed first to the exchanges/markets that meet the internal review standards in order to ensure the stable integration of liquidity among the major business countries and for the sake of global liquidity. New listings with little discretion, especially when liquidity integration is not properly processed at the current stage, may lead to serious regulatory risks that can negatively affect the liquidity of LINK, or worse, the availability of LINK and its related services within the major business countries.
■ On top of that, we will expand liquidity and global user base by additional listings, focusing on the exchanges/markets where we previously had in-depth discussions. As we regard a stable trading environment through regulatory compliance as our top priority, we will work on strengthening the liquidity of LINK and preventing further issues not to be aroused once again.
■ Moreover, as announced on the 28th of December, 2021 (https://blockchain.line.me/notice-2/?board-id=6061), we plan to increase the LINE BITMAX user’s limit on holding LN from January 11, 2022. And then, we will proceed additional listings on the exchanges/markets where we previously had in-depth discussions as well as development of the global NFT platform. As such, we are taking necessary steps to implement prior tasks for listing while integrating liquidity at the same time. Please be patient and kindly watch us grow and build more sustainable ecosystem.
1.2. Expansion of NFT-related Services and dApp
■ NFT has been not only a major foundation technology that can innovate the whole industry all around including finance, media contents, entertainment, games and copyrights but also one of the strategic businesses for LINE in 2021.
■ In June, we launched the beta version of NFT Market on LINE BITMAX Wallet in Japan. In this service, LINK-based secondary transaction service was first launched, and accumulated 1.3 million NFTs were issued on the LINE Blockchain. Additionally, by the partnership with Yahoo Auction in Japan, users are expected to trade their NFTs at Yahoo Auction by the launch next year.
■ We issued LINE Blockchain-based NFTs through partnerships with a large number of firms in diverse industries such as contents, games, metaverse, promotions, and characters including the followings: LINE FRIENDS, ZEPETO, Square Enix, Asahi Soft Drinks, Momoiro Clover, FURUSATO CHOICE, PUI PUI Molcar, and DeNA. Any LINE Messenger users over 18 years of age can experience purchasing and selling NFTs.
■ The launch of “LINE NFT,” Japan’s official NFT market, is scheduled for the first quarter of 2022. We are currently discussing collaboration plans with various global companies.
■ With LINE Place, KT, Ditto Music, KMCA, Pangaea, Theta.tv, SOMESING, Dozerbird, and many other companies, partnership on LINE Blockchain Developers and launch of LINE Blockchain-based services have been executed.
■ To make Global No. 1 NFT Platform, we are preparing a brand new global NFT platform and wallet by leveraging all capabilities we have amassed from LINE Messenger and LINE Blockchain businesses. Accordingly, LINE NEXT, which is dedicated to expanding the global blockchain ecosystem, was established in Korea and the United States respectively. The global NFT platform aims to provide services where companies, creators, and fans from all over the world can participate. Stay tuned for the further announcements on global NFT business.
1.3. Partnership with Payment Gateways
■ In 2021, partnership with payment gateways (PG) was carried out to expand the practicality and demand of LINK. The relevant attempts include partnering with payment providers, providing a direct LINK payment service within PG franchises, updating LINK Rewards functions on LINE Wallet, and therefore increasing its exposure in the LINE Messenger.
■ In August, we conducted a large-scale campaign of rewarding 100 JPY worth LINK Rewards to 1 million users who used LINE Pay to pay at PayPay franchises. This has led to increase holders and laid the foundation for higher LINK liquidity. In December, the balance of LINK Rewards on LINE BITMAX Wallet became available on LINE Wallet’s My Asset Tab. Thanks to the updated feature, all Messenger users can check their LINK Reward balance with one click.
■ To make LINK as a payment method in the real economy, we have completed the development of LINK’s direct payment service. The launch schedule has been delayed due to the consultation process with the external audit firm. But now it is in its final stage for the release. Starting from LINE Pay’s online franchises, LINK payment services will broaden its practicality range even to offline stores. We will gear the official launch and perform marketing plans as soon as the schedule gets fixed.
■ All of the LINK payment-related content mentioned above have been or will be provided only to residents of Japan; and the service will be expanded to global markets accordingly in the future.
1.4. Plans for New LINK Issuance
■ We planned to newly issue 414,972 LN ~ 829,444 LN in order to increase LINK holders and build dApp ecosystem. The maximum circulation according to the original plan was 6,874,943 LN.
■ A total of 6,814 LN has been additionally circulated as user rewards distribution through partnership services this year. The current circulation is at 5,976,013 LN. Issuance plans have been adjusted in accordance with the rearranged schedule of additional listings of LINK and payment partnerships.
1.5. Plans for Communication and Community Operation
■ We plan to advance communication strategies through more media platforms and accessible channels.
■ We highly regard the holders’ community and its impact on blockchain ecosystem as top priority. In this regard, up-to-date news of LINE Blockchain will be more accessible through diverse media.
■ We plan to disclose the LINE Blockchain 2022 Plans. We are also developing varied approaches for anyone who’s interested in LINE Blockchain to easily understand the direction and progress of the projects.
LINE Blockchain is bolstering up the ecosystem faster than ever in line with the rapidly changing global market environment. We are in the stage of introducing our global services and building a sound hub for all users. We would like to ask you to continue supporting us and our community.
Thank you for staying in touch and participating in the LINE Blockchain ecosystem. If you have any questions or comments, please feel free to contact us at email@example.com.
LINE Blockchain Team
• All policies concerning LINE Blockchain will continue to be governed by the Whitepaper.
• The plans set out in the notice may be subject to change subject to the developments in the market in future, evolving laws and regulations and other commercial considerations. It is difficult to predict how some of these developments may affect LINE Tech Plus and LN, and it is possible that LINE Tech Plus (and/or its affiliates) may cease support for LN in the event that regulatory actions, or changes to the law or regulations, make it illegal to operate in any jurisdiction, or commercially undesirable to obtain the necessary regulatory approval(s) to operate in such a jurisdiction. There may also be unforeseen technical difficulties and shortages of development funds for activities which will affect the development of the items mentioned in this notice. We will provide occasional updates for LN users about LINE Blockchain’s plans, and you can follow our developments at https://blockchain.line.me/whitepaper to keep up to date about the latest status.
• Please note that there is no guarantee or assurance of value or liquidity for LN, and LN is not for speculative investment. The price of LN may fluctuate or may lose all value. Neither LINE Tech Plus, its affiliates, nor other ecosystem members shall be responsible or liable for the value of LN, the transferability and/or liquidity of LN and/or the availability of any market for LN through third parties or otherwise.
• To the maximum extent permitted by law, LINE Tech Plus, its affiliates and/or other ecosystem members shall not be liable for any indirect, special, incidental, consequential or other losses of any kind, in tort, contract or otherwise (including, without limitation, any liability arising from default or negligence on the part of any of them, or any loss of revenue, income or profits, and loss of use or data) arising from the use of LN’s Whitepaper or any other materials or information published, or its contents or otherwise arising in connection with the same. Prospective purchasers of LN should carefully consider and evaluate all risks and uncertainties (including financial and legal risks and uncertainties) associated with LN.