Lithium is the world’s simplest launchpad. Their purpose is to combine brilliant founding teams with pooled investment from a community of early adopters. After an extremely successful launch 1 year ago, they have just recently launched the V2 platform.
Lithium has chosen to leave Binance Smart Chain (BSC) in favor of the new token to join the Polygon’s network of over 19,000 other teams. Polygon offers numerous of benefits over both BSC and Ethereum, its parent chain.
I. Polygon — Lithium’s New Home
1. What is Polygon?
Polygon is a Layer-2 solution designed to assist the Ethereum platform gain widespread usage. Using Polygon, developers can create decentralized apps (dApps) that emphasize efficiency, user experience (UX), and security thanks to its varied set of scaling methods.
Polygon functions as a ‘add-on layer’ to Ethereum, but unlike the underlying chain, it uses a proof-of-stake consensus mechanism. Its structure, token, nodes, local dApps, and other features are similar to those of other networks, with the exception that exchanges are clustered and settled over the Ethereum mainchain.
2. Why Polygon?
➣ Lithium is focused on providing an awesome client experience by building the world’s simplest launchpad. Polygon offers complete EVM/WalletConnect compatibility, as well as native mobile apps, and a set of developer tools to help create a superior user experience.
➣ Polygon can handle 65,000 transactions per second and confirm blocks in less than two seconds. This transaction throughput enables very fast transaction speeds by eliminating lag and latency.
➣ The Ethereum Virtual Machine (EVM), Ethereum’s blockchain-based infrastructure that lets developers build decentralized apps, is fully supported by Polygon (dApps). Polygon may piggyback on Ethereum’s popularity and profit from existing network effects, much like a business attempting to ‘growth hack’ its way up the value chain.
➣ Unlike Ethereum, which has very expensive transaction fees, Layer 2 protocols like Polygon have gas costs that are up to 1000 times lower than the parent network. Even though Polygon had to triple its gas rates to dissuade spammers, the top protocols’ gas fees of $0.02 are still among the lowest in the industry.
II. Lithium V2 Token
Here’s the best news: Lithium V2 Token ($IONs) – The new token – will launch on 9th June!
1. The secret has been revealed
There have been theories and drawings floating around the community concerning the new coin ticker and name.
As a result, the mystery has been solved! The new token is called $IONs.
As a standalone product, $IONs will be a good fit for the Lithium brand. This is important because it allows users to choose the degree of association between Lithium and the $IONs token, depending on the amount of centralization in the ecosystem that they desire.
The price of $IONs will be increased by 100 times, the supply being reduced by the same amount. $IONs will now be in the $0.01-$0.10 price range, making it easier to understand and utilize.
The token logo plays an important role in expressing the Lithium brand. The $IONs token stays loyal to the Lithium logo, displaying a positively charged Lithium $IONs. The gradients line with their launchpad, giving consumers a consistent visual experience while staying distinct enough from the Lithium product.
3. Innovation in Incentive Design
$IONs holders will retain the passive reflections that they have grown to appreciate (now known as trickle charge rewards), but with a few changes (shared in a future post). The $IONs token will also provide a new kind of award for its most devoted supporters: supercharge rewards.
4. Introducing Charge Intervals and Supercharge Rewards
Staked holders will receive supercharge payouts at the conclusion of each charge period under the new coin. A charge event will last around 2–4 weeks and will be triggered by a specified level of trade volume.
Transaction taxes from the trading of the $IONs token will be sent to a supercharge pool for this charge time. This pool will subsequently be delivered in a lump payment to holders who are staked during the entire charging period.
Lithium will provide more details on how supercharge incentives operate in the future. For now, take a look at the graph below to get a sense of what $IONs will accomplish.
5. Introducing Variable Tax
A good token design encourages holding and staking, while making selling less appealing. These incentives should be established with all holders’ interests in mind. I’m sure we’ve all seen the graphic below, made famous by Olympus DAO.
|Stake||(3, 3)||(1,3)||(-1, 1)|
|Bond||(3, 1)||(1, 1)||(-1, 1)|
|Sell||(1, -1)||(1, -1)||(-3, -3)|
Lithium is unusual in that sell-offs are more likely to occur during particular ecosystem-controlled occurrences. Post-raise and post-supercharge awards are issued.
The advantage of having purchase and sell pressure connected to utility rather than macro pressures lies in Lithium having the flexibility to implement tactics to discourage and promote activity – they aren’t a whim to the markets.
Lithium V2 will capitalize on this opportunity by instituting variable purchase and sale taxes. Lithium will reveal actual tax numbers closer to the launch date, but for now, the graph below should show how we will change buy and sell taxes to favour purchases at the start of a charge cycle and discourage sales at the conclusion. As a result, investors will be incentivized to keep their tokens staked, reaching the ideal (3,3) Game Theory.
6. The Implementation of NFT Interoperability
It’s no secret that Lithium is quite enthusiastic about the far-reaching implications of NFTs for society. The capacity to demonstrate digital ownership has been a significant gap in the internet era.
Lithium has great ambitions to harness NFTs, whether through providing unique prizes, building referral systems, reflecting commitments, or other components that haven’t even been thought of yet – the opportunities for creativity with NFTs are limitless.
The new token will be designed to be totally compatible with any future NFTs Lithium release. Keep an eye on this…
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