Lithium V2 Token
We’re finally ready to give some details…
It’s been a long time coming. CMC has alluded us no more. Innovative tokenomics will allude us no more. Our chain of choice, will allude us more. Legacy branding will confuse investors no more.
Lithium V2 is around the corner. We know what it’s going to look like, we know how it will work, we know when it will be released. We are now ready to give you, the investors, a clear picture of what you can expect from the world's best launchpad.
In this article, we’ll give you a high-level picture of the Lithium v2 token. We’ll follow up with future articles and videos that go deeper into each element.
New Name
Some of our most engaged community members will have seen designs and heard murmuring rumours about our new token ticker and name.
Today we can officially announce the name of our new token: $IONs.
$IONs will tie in cleanly with our Lithium branding, while still being a strong standalone product. This is important as it unlocks the ability for us to associate Lithium and the $IONs token as closely or as weakly as we wish, depending on the level of centralisation we want in the ecosystem.
We will also be increasing the $IONs price by 100x, and decreasing the supply by the same ratio. This will make the $IONs token fall in the $0.01-$0.10 range, making it far more readable and user-friendly.
Branding
The token logo is a vital part of communicating the Lithium brand. The IONs token remains true to the Lithium branding, showcasing a positively charged Lithium IONs, the gradients align with our launchpad, providing a consistent visual experience for users, while still remaining differentiated enough from the Lithium product.
Game-changing Incentive Design
We will still keep the passive reflections that holders have come to know and love (now known as tricklecharge rewards), albeit with a few updates (shared in a future post). The $IONs token will also bring a new kind of reward for our most committed backers — supercharge rewards.
Introducing Charge Intervals and Supercharge Rewards
Under the new token, staked holders will receive supercharge rewards at the end of each charge interval. A charge event will last for approximately 2–4 weeks, and will be based on a certain amount of trading volume being reached.
During this charge interval, transaction taxes from the trading of the $IONs token will be directed to a supercharge pool. This pool will then be distributed as a lump sum to holders who were staked throughout that charge interval.
We’ll release more information on exactly how supercharge rewards work, for now have a look at below graph to get an idea of what $IONs will do.
Introducing Variable Tax
Good token design rewards holding and staking, while making selling of tokens less desirable. These incentives should be designed with the benefits of all holders in mind. I’m sure we’ve all seen the below chart, popularised by Olympus DAO.
Lithium is unique in that sell-offs are most likely to occur at certain events that are controlled by the ecosystem. Namely, post-IDO and after supercharge rewards are delivered.
The good thing about having buy and sell pressure being related to utility rather than macro forces, is that at Lithium we have the optionality to put measures in place to discourage and encourage behaviour — we aren’t a whim to the markets.
Lithium V2 will be taking advantage of this opportunity by implementing variable buy and sell taxes. We will release exact tax values closer to the time of launch, but for now the below graph should demonstrate how we will vary buy and sell taxes to encourage buys at the start of a charge cycle, and discourage sells at the end of one. This will incentivise investors to keep their tokens staked, achieving the aspirational (3,3) game theory.
Introducing NFT Interoperability
It’s no secret that at Lithium we are beyond passionate about the far-reaching consequences NFTs will have on society. The ability to prove digital ownership has been a huge missing piece of the internet age.
Lithium have big plans for how we leverage NFTs, whether this is to grant special rewards, develop referral schemes, represent a commitment, or some other factor that we haven’t even dreamed of yet — with NFTs the possibilities for innovation are endless.
Our new token will be built in a way that is completely interoperable with any NFTs Lithium release in the future. Watch this space…
Ser, what chain?
We’ve left one of the biggest announcements to last. There’s been much talk about moving away from Binance Smart Chain to a chain that, dare we say it, has a little more credibility and isn’t plagued with the shitcoin nonsense that is unfortunately now inherent to BSC.
We owe much of what we’ve achieved to BSC, it’s been an incredible blockchain for builders to launch with. Its low transaction fees and wide adoption, driven by the easily accessible BNB token have been a few of the factors in the crypto micro-cap bull-market.
At Lithium, though, we are never to rest on old laurels. We recognise and adopt new technology if and when we feel it will bring real value to our investors.
That’s why today we are announcing the $IONs token will be Polygon native.
That’s right, our new token will be tradeable through a Polygon DEX and will be tradeable with the $MATIC token, or other polygon native stablecoins.
We’ve not made this decision lightly. We know how much a lot of our early community love BSC, but we feel it’s the right timing. In the coming weeks, we’ll be sharing a detailed article as to why we’ve chosen Polygon as our chain of choice for the $IONs token.
Release Date
We’re not giving an exact release date yet. What we can say is we are planning to migrate to the $IONs token a the start of June, less than 1 month away. We’ll give exact details of how the migration will happen further down the line.
Get ready for the biggest change in the Lithium product to date. Get ready for CMC. Get ready for mass adoption — we certainly are!
WAGMI,
Team Lithium x
