Hello, this is LINE Blockchain Team at LTP.
We are announcing that LN will be manually minted on December 20, 2022, for the last time. LINE Blockchain is working on token economy 2.0 for better Web3 popularization and to be easily implemented by users and services through the open network Finschia. A new token economy aims to overcome the existing token economy models and introduce a new paradigm of sustainable contribution rewards to the community.
Since December 20, 2022, LINK will no longer be minted until token economy 2.0 gets initiated, which will be entirely shifted to an inflation system.
Please refer to the following information about the last manual mint of LINK.
• To maintain and expand LN holder rewards until the effective date of the token economy 2.0
• To secure dApp partners and support infra construction
The amount of LN minted this time will not exceed 80,000 LN per month to maintain a stable and sound token economy; thus, LN’s circulating supply cap will change as follows:
◼︎ AS-IS) 110,250,000 LN
• annual interest of 5%
◼︎ TO-BE) 6,734,458 LN (-94%)
• subsequent LINK issuance will be set by the token economy 2.0 inflation system criteria.
* Blockchain Explorer: https://scan.link.network/0x3001004/transaction
■ Minting is the process of generating new LINK onto the blockchain before distributing it to users and partners whereas issuance is distributing LINK to users and partners.
■ Minted volume is only used for the purpose of minting and is not used for any other purpose.
■ The process and information referred to above are for LINK mint. A separate notice will be made when the amount is distributed to the actual partner.
■ Minted volume on the Bamboo chain is not equivalent to its circulating volume. Please refer to the announcement made for details regarding the calculation of the circulating volume. (> Calculation of Circulation Volume)
■ The calculation of the circulating volume after the transition to the Finschia mainnet will be changed. Please refer to the announcement made for details regarding the total supply. (> Finschia and LINK Migration)
LINE Blockchain team is always making efforts to stimulate the ecosystem of our blockchain and the token economy.
Thank you for your support and interest in LINE Blockchain.
LINE Blockchain Team