Dear LAC holders,
We are pleased to announce that LAC’s NFT has entered the pre-release stage.
Below are the full details of LAC NFT #1.
The name of the NFT token issued this time is: LAC Genesis Coin. There are 3 models:
- Genesis Gold Coins: The maximum supply is 9;
- Genesis Silver Coins: The maximum supply is 99;
- Genesis Copper Coins: The maximum supply is 999;
LAC Genesis Coin is the first set of NFT tokens issued in the LAC ecosystem. They are the status symbols of the early supporters of LAC, which are of great collection value and also have a deep interaction with the LAC ecology:
- Genesis Gold Coin: For each Genesis Gold Coin held, the LP weight will increase by 50% when calculating liquidity mining income; it can increase to 100% at most;
- Genesis Silver Coin: For every Genesis Silver Coin you hold, you can increase the LP weight by 10% when calculating liquidity mining income; it can increase to 100% at most.
- The weight calculation of gold coins and silver coins can exist at the same time, that is, when you have 2 gold coins and 10 silver coins, you can reach the limit of coin mining weight increase: 50% * 2 + 10% * 10 = 200%.
There is also a material token issued simultaneously with the NFT: MAT, with a total of 108,600 pieces.
The ways to obtain the above tokens are as follows:
Genesis Gold Coin:
- Auction:
- A total of 3 auctions, one for each from 12:00–24:00 on November 7, 8, and 9, Beijing time.
- The base currency for participating in the auction of Genesis Gold Coins is the LP token of LAC.
- The starting price is 4900 LP, and there is no limit to each increase.
- When an auction ends, if there is a current bidder, the bidder will get 1 Genesis Gold Coin.
- When an auction ends, if there is no current bidder, the auction will pass, and the genesis gold coin produced by the auction will be reduced by one.
- MAT synthesis: When 100 MATs are consumed for synthesis, there is a 0.55% chance that 1 copper coin will be combined.
- Silver coin synthesis: every 18 silver coins can be synthesized into 1 gold coin.
When there are 9 genesis gold coins, no new genesis gold coins can be generated by any means.
Genesis Silver Coin:
- Auction:
- A total of 18 auctions, on November 7, 8, and 9 Beijing time, 12:00–24:00 every 2 hours.
- The starting price is 490 LP, and there is no limit to each increase.
- See Genesis Gold Coin for other rules.
- MAT synthesis: When 100 MATs are consumed for synthesis, there is a 7.45% chance that 1 copper coin will be combined.
- Copper coin synthesis: every 28 copper coins can be synthesized into 1 silver coin.
When there are 99 genesis silver coins, no new genesis gold coins can be generated by any means.
Genesis Copper Coin:
- MAT synthesis: When 100 MATs are consumed to synthesize, there is a 92% chance that 1 copper coin will be combined.
MAT:
- 100% of MAT tokens will be provided by LAC’s liquidity mining.
- Mining lasts 10 days cumulatively, and 10,860 MATs will be mined every day.
- The principle of mining distribution is slightly different from that of LAC’s liquidity mining distribution:
- According to: current time-the time you last withdrew liquidity to get the time you held LP tokens.
- If the time is ≥1 day, they will be eligible for mining; for each additional day, the weight will be increased by 10%, up to 100%.
About the auction proceeds:
We will remove liquidity for the LP tokens obtained from the auction. After removal, the resulting LAC and TRX will be processed as follows:
-LAC: Destroy all, we will make public announcement after destruction.
-TRX:
-If the TRX obtained is less than 250,000 TRX, it will be used as a team development fee.
-If the TRX obtained is greater than 250,000 TRX, the extra 250,000 will be used to repurchase the LAC, and all the repurchased LAC will be destroyed and publicized.
In the LAC ecosystem, subsequent fundraising and purchases will use LP tokens, and the resulting LP token processing plan can refer to the above description, but the development costs reserved by the team may be different.
The following is the specific time node of the entire NFT function:
- 11/7–11/9: Open NFT token auction and circulation.
- 11/10: Open MAT’s liquidity mining and coin synthesis.
- 11/13 (tentative): Open NFT token trading.
Good luck!
