LAYERK Token Use Cases
LAYERK Token: Governance, Rewards, and Beyond! From buybacks to bonuses, LAYERK offers a myriad of utilities. Join us today.
LAYERK Token
LAYERK (LYK) is the native token that powers the LayerK Chain ecosystem, serving as the core medium of transaction fee payment, and access to blockchain services. It plays a vital role in enabling seamless operation and interaction within the network.
Primary Use Cases of the LAYERK Token
Transaction Fees LAYERK is used to pay for gas fees when executing transactions such as sending crypto, minting tokens, or interacting with smart contracts.
Smart Contract Execution All decentralized applications (dApps) and protocols deployed on LayerK require LAYERK tokens to initiate and execute smart contract operations.
Staking and Delegation Users can stake LAYERK to support network security and participate in consensus. Validators and delegators are rewarded for maintaining the network's integrity.
Ecosystem Incentives Developers, users, and contributors are incentivized with LAYERK tokens to encourage ecosystem growth, dApp deployment, and active participation.
LAYERK Token Use Cases
Treasury
LAYERK allocates a portion of its quarterly net profit for token buybacks, storing these tokens in a treasury dedicated to community governance. Further details will be outlined in the upcoming whitepaper.
Bonus & Candies
LAYERK token holders can:
Redeem coupons from LYK and associated partners.
Participate in exclusive LYK campaigns.
Collect special items from LYK and its partners.”
Ranking System
LAYERK has a tiered system based on LAYERK or sLYK holdings that offers user benefits within the Launchpad and discounts on product fees.
Rank 0: 100%-70% holder - Benefits: TBA
Rank 1: 70%-40% top holder - Benefits: TBA
Rank 2: 40%-10% top holder - Benefits: TBA
Rank 3: 10%-0% top holder - Benefits: TBA
Voting Power
LAYERK operates as a DAO (decentralized autonomous organization) using smart contracts.
Voting power correlates with the number of vLAYERK tokens held.
Proposals require at least 2,500 vLAYERK tokens.
A majority "Yes" vote of 51% or higher is necessary.
Voting lasts a minimum of 5 days.
Fees & Discounts
LAYERK can be used for various fees and to avail discounts:
Hardware product discounts (wallets & accessories).
Discounts on app-based swap and trading services.
Fees for LAYERK repository submissions and ad banner placements.
Fees for DApps rankings in stores and other upcoming services.
Base Value LAYERK for Products and Services
LAYERK, the native token of the LAYERK Ecosystem, is essential for accessing and purchasing various products and services.
LAYERK tokens can cover up to 100% of the value of any service or product on the platform.
Users can rely on the consistent value of their LAYERK tokens within the ecosystem, enhancing confidence in their usability.
Further details on products and services will be released soon.”
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Minting Utility Token
“Within the CloudK Minting mechanism, the mLAYERK token serves as the essential minting token.
Users wishing to mint new LAYERK tokens can utilize their existing holdings as minting tokens, locking them into specific CloudK Minting NFT licenses.
The subsequent minting process adheres to the protocols of the CloudK Minting system and the specifics outlined in the NFT license. This ensures a controlled and consistent minting process, supported by mLAYERK tokens.
Launchpad in LAYERK Studio
LAYERK serves as a pivotal launchpad token, essential for project endorsements and engagements.
Users interested in activities such as staking, farming, or direct token sales must lock a designated quantity of LAYERK tokens as Minting Utility tokens.
For direct sale launchpads, an auction allocation system with LAYERK is implemented, where higher token commitments increase the likelihood of receiving an allocation.
Regarding staking and farming rewards, a specific proportion applies. For instance, to stake a token like ‘Token A,’ users must lock in at least 25% of Token A’s value in LAYERK tokens. For staking 100 tokens of Token A, locking 25 LAYERK tokens is required, ensuring a stable and secure participation structure.
Why LAYERK Matters
LAYERK is the lifeblood of the LayerK network. Whether you’re transferring assets, deploying smart contracts, or staking, LAYERK ensures the blockchain operates efficiently and securely.
LAYERK is listed on several exchange:
https://coinmarketcap.com/currencies/layerk/
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