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Cryptocurrencies

What is $TIA Token?

LCX, as a global fintech company, has given the crypto world some amazing products and services. LCX’s goal is to become one of the world’s first licensed and supervised security token exchanges as a regulated marketplace for digital assets. And moving towards the goal, LCX with the support of the community is growing tremendously. 

Tiamonds went live on February 22, 2022, and with it, the interest of the community in the TIA Token grew. So we thought about explaining it to the community.

What is TIA Token? 

TIA Tokens is a community first and fair launched DeFi Token. TIA Tokens are deflationary cryptocurrency, as the supply decreases with time.

TIA Tokens integrate three simple functions: Reflection, Rebalancing and Burn.

In every on-chain transaction a fee of 10% total is automatically taken and is split three ways:

  1. Reflection: 5% fees are redistributed to all existing holders.
  2. Rebalancing: 2.5% fee is sold by the smart contract into LCX token at Uniswap. The acquired LCX Token will be added to the long-term LCX company reserve.
  1. Burn: 2.5% of the TIA Tokens are burned.
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TIA Token Distribution

Fair launch and distribution. TIA Tokens are launched in a fair community driven way, without a token sale and without an initial coin offering (ICO).

TIA Tokens will be distributed to the owners of Tiamonds in an “Own to Earn” model over a period of 1 million minutes (approximately 2 years) with a rate of 1 TIA Token per minute for each Tiamond NFT. The distribution starts directly after the initial token offering and sale at the LCX platform.

Now some of you must be thinking, what is the “Own to Earn” model? Let’s take a look at this part as well. 

Own to Earn Model

The Own to Earn model will distribute TIA Tokens to Tiamond NFT owners over a fixed period of time. Each user who owns a Tiamond NFT will get a fixed supply of TIA Tokens automatically. The TIA Tokens can be claimed by the owner at a dedicated decentralized app (Dapp) at the Tiamonds.com platform.

TIA Token Governance

The TIA Token is enabling community first approach and a vibrant, diverse, and dedicated governance system, which will actively guide the Tiamonds project towards the future.

Tiamonds is embracing a community driven governance framework. Governance contribution and voting will focus on aspects for future tokenization and Tiamond releases to expand and develop the broader LCX ecosystem.

TIA Tokens can be staked at LCX’s platform. Staked TIA Tokens can be delegated and used to vote through the Tiamonds governance platform. The governance system will allow the submission of votes to key decisions that govern Tiamonds project.

Key decision which will be the decided via the governance system are for example:

– decision of how many additional Tiamonds NFT will be created.

– decision of the range and variety of Diamonds to be tokenized.

– decision about distribution ratios and how many TIA Tokens will be awarded to each new Tiamond NFT.

TIA Token Trading

TIA Token will be listed at LCX Exchange with three trading pairs:

TIA / LCX

– TIA / ETH

– TIA / EUR

In addition 100 Million TIA Token will be put into two Uniswap trading pools, TIA /LCX $ TIA / ETH at Uniswap. TIA / ETH will be set as a one-sided token pool with a starting price of $1 USD per TIA Token. Trading fees as Liquidity Provider at Uniswap will be redeemed by LCX and used for operational expenses.

Claiming TIA Tokens

 Owners of Tiamond NFTs can claim their TIA Tokens directly at LCX at a dedicated Tiamonds platform provided by LCX. The TIA Tokens will be granted to the Tiamond NFT automatically.

Claiming TIA Tokens is an on-chain transaction and standard gas fees will apply. The owner of the Tiamonds NFT may claim TIA Tokens as often as he/she wants, but will need to cover the Ethereum gas fees.

If the Tiamonds NFT will be transferred to another wallet or owner, the new owner will be able claim all unclaimed TIA Tokens.

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