Cryptocurrency volatility is a major concern for mainstream adoption. LootUp’s plan of attack is to introduce two TRC10 tokens built on the Tron Network for speed, security and low fees ($0.02 for gas + 0.2% transaction fee). The first token is our flagship $LOOT token and its sister stable coin, $USDL. By giving our users the ability to freely exchange between the two, they will have an incentive to stay in the LootUp ecosystem. We also incentivize users by enabling staking $LOOT at rates you’d normally find at a traditional bank or opting for the stability of the USD pegged $USDL token. The stable coin ($USDL) will be created and burned as needed. Depending on the user location, different stablecoin options will be preloaded such as $EURL, $YUANL, $YENL and other major global currencies
$LOOT
Most projects create tokens strictly for funding. They have zero use case besides raising funds via dumping on the market, creating violent inorganic price swings. Most teams hoard a large percentage of their supply and we at LootUp hope to change this paradigm by having no free founder tokens, no free team tokens or unbacked tokens. All tokens must be exchanged or earned. Users and adopters may exchange for tokens and investors may inquire for equity.
Token Distribution
There will be no ICO, no team tokens, and no founder tokens. A
quarter of the supply will be allocated for exchanges to help provide
early distribution, liquidity and price discovery. There used to be
only 2% of $LOOT in circulation on Polonidex, while LGCY was being build.
All exchange token sales will be placed in the Decentralized Global Reserve. The rest of the tokens will be locked up in the DGR.
MyriaDex
$LOOT will be available on MyriaDex, the decentralized exchange running on LGCY Network. Loot will be paired with LGCY, as we are exploring further options for LOOT accessibility.