LOCC Protocol – A New Deflationary Token Providing Great Incomes for Hodlers
Low Orbit Crypto Canon, acronym LOCC, is defined as a deflationary token designed to help the community by providing income-earning opportunities.
According to their website, the platform introduces a new style of staking, where the fees generated after propelling around 138 ETH blocks is awarded to one lucky staking Astronaut. The propulsor contract is the tool designed to collect the pulsation fee when transactions occur. The collection and merging of these 138 blocks should be taking around 30 minutes.
Primarily, it will deploy this tool on Uniswap to affect the daily buying and selling of the LOCC token. Therefore, the feature will possess powerful features to complete its tasks. LOCC burns some of the collected fees while using others in propulsion.
For instance, 5% of the fee is apportioned to the propulsor contract to help run the next propulsion.
5% of the fee is burnt from the supply, effectively reducing LOCC circulation over the years. A maximum number of LOCC is burned to make sure that the token supply never runs low. The maximum is 500 tokens. Therefore, when about 500 tokens have been burned from the network, the perpetual burning system will end.
Although this platform provides excellent opportunities for users to earn incomes, there are requirements to attain and several steps you need to follow when staking.
Staking in LOCC Propulsor Contract
Foremost, the investor/staker must have not less than 0.075 LOCC staked on the LOCC webpage.
Afterward, you can wait until the countdown of the propulsion goes to zero, at which point the propulsion begins. The screen will start shaking, as a show that now the propulsion is beginning.
The winner is awarded all the fees in the contract, and the propulsion process continues perpetually. It’s possible to view the history of the winner.
$LOCC Token and Tokenomics
According to the whitepaper, the $LOCC token is the primary token running the entire Low Orbit Crypto Cannon platform. Primarily, this token will help in fee payment and staking.
The total supply of the LOCC tokens is 1000, which will all get distributed as follows;
- 900 $LOCC tokens, 90% will be used as circulation currency. These tokens will be initially used during the Presale and later added on the UniSwap for utter liquidity.
- 5% of LOCC goes to the team wallet development funds
- 5% of the tokens will help in all the marketing and advertising works of the LOCC network to steer it in the right direction.
The LOCC Network Security and Reliability
The LOCC network is promising to offer convenient and reliable services to the average user. This platform was audited by the RD Auditors where they analyzed the platform’s smart contract. The audit checked issues like errors, bugs, and many more system issues, and after thorough analysis, RD Auditors released their report.
According to the report, the LOCC network is highly secure with 0 risk issues and no errors. To show how they are committed to the safety and transparency of the network, LOCC posted their audit results on the web page for easy access.
Similarly, LOCC introduces a highly user-friendly interface that displays all the necessary services, thus highly convenient for beginner and experienced crypto users.
Join the $LOCC Presale
The LOCC network plans to host its Presale from the 12th of May, 2021, at 18:00 UTC, and ends on Friday, May 21:01. Unicrypt launchpad will be the host of the LOCC presale; thus, all investors can take advantage of this great opportunity.
Every user has to adhere to the presale requirements of the Unicrypt network, including holding either 4 UNCX and 50 UNCL. Accordingly, the audit by the Unicrypt auditors has given the platform a clean record, meaning there are no vulnerabilities in the network.
Although the Presale will leverage the Unicrypt network, the sale will be held in ETH, meaning you must have ETH to purchase LOCC. The presale value of $LOCC token is 1.33333333 LOCC is equal to 1ETH, and the maximum purchase for every wallet is 5 ETH. Accordingly, the targeted soft cap is 100 ETH, and the hard cap is 300ETH.
Around 60% of the total ETH raised in this sale will be locked for 11 months in liquidity lockers to protect investors. Moreover, immediately after the sale, the tokens will be listed in Uniswap on a 1:1 ratio with ETH. Later, LOCC will list the tokens in other centralized exchange networks.
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