LYNC Network: DeFi ecosystem, staking, betting dApps and much more
LYNC Network is a DeFi crypto ecosystem, designed to deliver passive income fueled by token rewards and board game applications on the blockchain.
The fundamental objective of the network is to create passive token rewards, from the token flow mechanics that is fundamental to LYNC.
The token stream provides a regular supply of cryptocurrencies to the Reward Pool in the form of a minimum transaction fee and end-of-stake fees, this is then distributed to the community that bets on the LYNC token.
As the LYNC network expands, lotteries, NFT achievements and table game dApps will be featured, which will also generate fees to increase the flow of tokens to the Reward Pool , increasing the reward percentages for the community.
Users who compete against each other in the games will be rewarded with unique NFT cards for rankings and replays.
What does LYNC offer?
LYNC Network offers a wide variety of benefits, such as:
- board game dApps
Board game DApps that will use the blockchain to record each player’s roll of the dice, movement, and win or loss.
- NFT achievements
As the network grows, more games and features will be added to the LYNC Network alongside NFT’s achievements.
- UniSwap Liquidity
60% of all funding raised from the ITO rounds will be used to provide initial liquidity at UniSwap.
- 6 month liquidity lock
The initial liquidity to be provided will also be locked through UniCrypt for a period of 6 months.
- Track supply
All contracts and team wallet addresses are available for the community to track and monitor on the blockchain.
- Fixed token supply
There are a total of 1,000,000 LYNC tokens available, no more, no less. There will be no minting or burning of tokens.
- Token high availability
75% of all LYNC tokens will be in circulation or blocked as part of liquidity.
- Continued development
Development will continue to expand the LYNC network along with community-driven feature requests.
Rewards for staking
The toknes pre-sale began on September 28 and will end seven days later, transferring all unsold cryptocurrencies to the gambling rewards contract.
After the pre-sale, the V1 staking will be live and LYNC holders will be able to stakes the token, receiving rewards from the staking rewards contract.
All LYNC token transactions will have a 1% fee at the receiving end, this is how the rewards fund is funded along with a 5% end-of-game fee.
The minimum amount required to be able to staking is 100 LYNC. In order to bet the cryptocurrencies, the chips will have to be sent to the staking contract, this creates a transaction and together with that the 1% transaction fee, because it is essential for the financing of the rewards.
You can claim the balance of the current reward at any time, this does not affect the stake tokens, the rewards are NOT capitalized so you will have to claim the rewards and then add them to the current bet if you want to capitalize.
Soon version 2
The second staking contract (hereinafter referred to as V2) will be introduced in December 2020 and is intended to replace V1. There will be four stake durations available for V2, each of which comes with an end of bet penalty percentage equal to the number of days wagered.
For each day the term is staked, the penalty rate is reduced by 1%, so that at the end of the stake term, no fee must be paid.
So, for example, if a stake is placed for 28 days and is completed within 18 days of the 28-day timeframe, the remaining 10 days will be converted to a 10% completion rate. The completion fee will be sent directly to the Rewards Pool.
How to participate in LYNC?
The LYNC symbol itself will be the core of the network that will expand with NFTs, betting and table games in the coming months.
In order to participate and compete with other users, an entry must be paid in LYNC tokens, then a reward pool will be created and the winner will receive their reward in said cryptocurrency.
A small fee will be charged for each entry and will be sent to the bet reward contract.
The first LYNC dApps are coming soon
The current LYNC Network roadmap shows that the first dApp will be launched in November. These are two high-probability lottery / raffle games (not like real lotteries where the odds are like 1 in 8 billion, but ranges from 1 in 25) , whose releases could be brought forward to October.
One will be powered by LYNC to help the prize pool, the next round and pay the winner, the other in ETH to buy chips to be sent to the prize pool, to fund the next round and also the winner.
The first board game they are trying to bring to market is the Ludo board game. The game will allow up to four people to compete against each other and the winner will be rewarded with the prize pool created by the game entries.
The developers of the LYNC network intend to divide the NFTs into two parts, the first will be tied to the core of the LYNC Network and the second will be based on the games themselves.
So, for example, they are planning a set of six limited edition artworks that will be distributed to users who decide to gamble within the first 24 hours.
To do this, they have a very talented graphic designer who will create modified Banksy artwork incorporating LYNC in the highly recognizable stencil style Banksy is known for.
This is appropriate because no one really knows who Banksy is and the team is currently anonymous.
LYNC Network will create a fully functional marketplace for users to sell or auction their NFTs, from which fees will be deducted to fund the rewards fund.
Do you want more information? Visit to LYNC Network
Web Site: http://lync.network
Telegram Channel: https://t.me/lyncnetworkannouncements
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Disclaimer: This press release is for informational purposes only, the information does not constitute investment advice or an offer to invest. The opinions expressed in this article are those of the author and do not necessarily represent the views of CriptomonedaseICO, and should not be attributed to CriptomonedaseICO.