The Token: LQN
Utility token of LIQNFT platforms (Candy Shop)
Last updated
Utility token of LIQNFT platforms (Candy Shop)
Last updated
Ticker: LQN
Mint Address: GD8B6KhufThbCGmNodrTE5feVxU2kK5TRzwxqjahv12G
Chain: Solana
Total Supply: 1,000,000,000
Access to premium platform features for free or at a discount by staking LQN
Part of the trading fees from transactions on the LIQNFT platform will be distributed to LQN liquidity providers on DEX and AMM platforms
To promote decentralised community governance for the network, LQN would allow holders to propose and vote on governance proposals to determine future features and/or parameters of the LIQNFT platform. Holders of LQN token will vote on key roadmap initiatives and milestones as well as any major platform upgrades and developments (the right to vote is restricted solely to voting on features of the LIQNFT platform; it does not entitle LQN holders to vote on the operation and management of the Company, its affiliates, or their assets or the disposition of such assets to token holders, or select the board of directors of these entities, or determine the development direction of these entities, nor does LQN constitute any equity interest in any of these entities or any collective investment scheme; the arrangement is not intended to be any form of joint venture or partnership).
LQN tokens will be allocated to the following categories:
Community: 50% of the total LQN supply will be allocated to the LNFT community to help incentivise early users of the LNFT platform. Users will be able to receive LQN through fee rebates (for activity) and from time to time promotional campaigns to encourage certain activities. Some tokens will be allocated to bespoke collaboration and partnership with popular NFT art collection projects and NFT art holders. The community LQN pool is projected to be fully emitted within 5 years.
Employees: 22% of the total LQN supply will be allocated to the incentive pool for key employees who contributed significantly to the development of the platform. The emission will be completed in around 3 years.
Strategic Partners: 15% of the total LQN supply will be ring fenced for strategic partners. Approximately 5% is allocated in the seed token sale round, with LQN tokens distributed to follow a 1.5-year daily linear vesting schedule. The rest will be allocated for a later round of fundraising, with a plan to complete the vesting in 3 years.
Founders: The project founders will hold 8% of the total LQN supply with a 3-year daily linear vesting schedule, unlocking semi-annually in arrears.
Treasury Management: 5% of the total LQN supply will be allocated to facilitate treasury management. LQN token has an important role for the operation of the LNFT platform, therefore it is important to ensure that there is a sufficient amount for incentive programs and operations. This allocation is expected to be completely emitted in around 3 years.
The native cryptographically-secured fungible protocol token of the LIQNFT platform (ticker symbol LQN) is a transferable representation of attributed governance and utility functions specified in the protocol/code of the LIQNFT platform, and which is designed to be used solely as an interoperable utility token thereon. LQN is a functional multi-utility token which will be used as the medium of exchange between participants on the LIQNFT platform in a decentralised manner. The goal of introducing LQN is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on the LIQNFT platform without any intermediaries such as centralised third party entity/institution/credit. It is not, and not intended to be, a medium of exchange accepted by the public (or a section of the public) as payment for goods or services or for the discharge of a debt; nor is it designed or intended to be used by any person as payment for any goods or services whatsoever that are not exclusively provided by the issuer. LQN does not in any way represent any shareholding, participation, right, title, or interest in the Company, the Distributor, their respective affiliates, or any other company, enterprise or undertaking, nor will LQN entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in Singapore or any relevant jurisdiction. LQN may only be utilised on the LIQNFT platform, and ownership of LQN carries no rights, express or implied, other than the right to use LQN as a means to enable usage of and interaction within the LIQNFT platform. The secondary market pricing of LQN is not dependent on the effort of the LIQNFT team, and there is no token functionality or scheme designed to control or manipulate such secondary pricing. The token is introduced to supercharge the development of the project, enabling an explosive growth of a decentralized NFT marketplace.
