$LGCY Tokenomics

Burning & Freezing 79% of Total Supply

Distribution of supply is set up to have the community take over from the team that is building LGCY. A total of 79% of the total supply (79 of out 100 billion) will never be in circulation. The team has decide to freeze and burn the majority with the Community Trust Initiative.

Community Trust Initiative

Total Supply 21 Billion

100 Billion lowered to 21 Billion. 33% of total supply are released for the team to keep the voting power and control over the network. These tokens will be burned to turn project over to the community and developers building on LGCY.

33% of tokens will be staked permanently to fuel sustainable ecosystem growth. providing the governing bodies with a perpetual fund supplying a revenue stream of USDL to support the future ecosystem development and project on-boarding forever.

Total Supply Circulating


Circulating Supply

Total circulating supply is split up in: Presale Tokens, Developer Funds and Team Tokens. Apart from that 5% has been reserved for providing exchange liquidity. A portion of that has already been used in providing liquidity on Uniswap. After the presale the team put op 700k of locked liquidity on Uniswap in Ethereum and LGCY tokens back in August.

11.463.925.838 Circulating

Presale Tokens

7.35 Billion – Tokens sold in presale rounds. 12.65 unsold tokens were burned.

Development Fund

3.33 Billion – Tokens are available for dApp projects that build on LGCY.

Team Tokens

5 Billion – Tokens are vested and released over 12 month period.

$USDL

MINTING MECHANISM

  • 10 million USDL roughly equal to fully diluted MC

  • USDL is initially backed by LGCY

  • As the LGCY Network grows, more can be minted

  • Once USDL is used for gas, it’ll be burned

STABILITY DESIGN

  • USDL is pegged to the US Dollar

  • Backed by the number of transactions $1 costs

  • Aggregate costs across all nodes to keep it at $1

  • Scalability over time; backed by the blockchain

REWARDS

  • LGCY Network staking rewards are paid in USDL

  • Stakers are typically rewarded in native tokens

  • Our Innovative model removes inflation

  • Stakers use USDL on CEX or our DEX to spend as they wish