What is Lightning Protocol (LIGHT) | What is Lightning Protocol token | What is LIGHT token
Lightning is the first fully deflationary rebase protocol, which runs through a total of 156 cycles. In each cycle, a part of the Total Supply gets burned through burn fees. These burn fees are dynamic and will be reset once the target number of burnt Tokens is reached. Once that target is reached, the cycle concludes with a positive rebase as big as 50% of the burnt Tokens during the previous cycle.
Lightning integrates its Token into existing NFT platforms as a means of payment already and can be used for purchases on JutsuSwap, Rowket, etc. Lightning will also implement its own NFT marketplace and aims to become one of the biggest NFT marketplaces on BSC.
Lightning Protocol is the first fully deflationary and supply elastic protocol. There are no negative rebases and yet it is fully deflationary.
How it works
Lightning works through a dynamic burn rate, which is applied at each Buy/Sell order. Transactions between wallets and transactions that interact with the future ecosystem are not taxed, to ensure the usability of the protocol.
Lightning Cycle
A full deflationary cycle which, in the beginning, will be multiple times per day and each cycle will burn 1.275% (1.275.000 Tokens) of the total token supply.
Lightning Squeeze
The second half of the cycle is called the Lightning Squeeze. Burn rate increases and the total supply burn accelerates, leading to a fast squeeze of the supply.
Lightning Rebase
A positive rebase that expands supply by 50 % of the burnt tokens during the current cycle. Each cycle will still burn 1.275 % of the starting total supply but will also rebase the 50 % of burnt tokens among wallets.
Fee and Rebase System
Lightning works through a dynamic burn rate, which is applied at each Buy/Sell order. Transactions between wallets and transactions that interact with the future ecosystem are not taxed, to ensure the usability of the protocol.
The burn rate will change depending on the total supply traded in the current Lightning Cycle. For every 1,000,000 $LIGHT traded, the fee will move up one increment until it reaches the cap at 12%, which will apply after 14,000,000 $LIGHT have been traded.
Once the cap is reached, it will automatically reset back to the lowest fee and the Lightning Rebase is triggered. The Lightning Rebase expands supply by 50% of the burnt tokens during the previous Lightning Cycle. This way, early investors pay the lowest possible fee and get rewarded for holding through multiple cycles. Lightning Cycles will be completed faster in the beginning and will take longer to complete over time.
This is done to ensure a long term deflationary protocol, which achieves a stable rate of deflation over time. The first Lightning Cycle is expected to last under a few hours, meaning there will be multiple rebases a day for early adopters.
Lightning Rebase means 50% of the tokens burned throughout the current cycle will be rebased to holders as positive rebase. By doing that, the protocol ensures only positive rebases on an otherwise fully deflationary protocol.
Graph showing Total Supply through multiple Lightning Cycles
$15,000 Lightning Trading Competition on PancakeSwap
We are excited to announce the biggest trading competition on BSC.
Trade Lightning on PancakeSwap and receive your share of the 15,000 USD prize pool!
All Traders who achieve a total effective trading volume of 15,000 LIGHT or more (including buys & sells) on PancakeSwaps LIGHT/BNB pair will share an exclusive prize pool of15,000 USD, based on the proportion of each user‘s total LIGHT trading volume.
Reward Calculation:
The reward for each qualified Trader = (Each Traders total effective trading volume / all qualified users’ total effective trading volume) * $15,000
General Information
Prize pool: $15,000 in LIGHT
Period: 10 days
Start: TBA
End: TBA
Minimum trading volume per Trainer: 15,000 LIGHT
Would you like to earn many tokens and cryptocurrencies right now! ☞ CLICK HERE
How and Where to Buy Lightning Protocol (LIGHT)?
LIGHT has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy LIGHT
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step - Transfer your cryptos to an Altcoin Exchange
Since LIGHT is an altcoin we need to transfer our coins to an exchange that LIGHT can be traded. Below is a list of exchanges that offers to trade LIGHT in various market pairs, head to their websites and register for an account.
Once finished you will then need to make a BTC/ETH/USDT deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase LIGHT from the exchange.
Exchange: PancakeSwap
Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once LIGHT gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
Top exchanges for token-coin trading. Follow instructions and make unlimited money
☞ https://www.binance.com
☞ https://www.bittrex.com
☞ https://www.poloniex.com
☞ https://www.bitfinex.com
☞ https://www.huobi.com
☞ https://www.mxc.ai
☞ https://www.probit.com
☞ https://www.gate.io
☞ https://www.coinbase.com
Find more information LIGHT
☞ Website ☞ Explorer ☞ Whitepaper ☞ Social Channel ☞ Social Channel 2 ☞ Social Channel 3 ☞ Coinmarketcap
🔺DISCLAIMER: Trading Cryptocurrency is VERY risky. Make sure that you understand these risks if you are a beginner. The Information in the post is my OPINION and not financial advice. You are responsible for what you do with your funds
Learn about Cryptocurrency in this article ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner
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