LINE Blockchain Monthly Newsletter: December 2022
2023, the year of the black rabbit, has finally begun, and we hope that every single member of LINE Blockchain and its community will reach an all-time high this year.
Last year was not a good year for the crypto markets. However, LINE, which conducts its businesses on equity capital, spent the past year looking inwards and meeting all of its goals. As a result, we have successfully launched Finschia, a 3rd-generation mainnet, and are now looking to kickstart a token economy 2.0 system, the key concepts of which include zero reserve and contribution-based rewards. With that, we hope that 2023 will be the year that LINE Blockchain proves its competitive worth as a platform.
⎮ Highlights & Main News
LINE’s 3rd-Generation Mainnet ‘Finschia’ Launched
Finschia, a 3rd generation blockchain mainnet to provide an open network to public, has newly launched, and it provides a network 400 times faster in trading speed and reduces costs by 98% compared to Ethereum.
Token Economy 2.0 Released
A new Token Economy 2.0 has been released to solve several problems and obstacles that exist in the current blockchain market and to bring the popularity of the real Web3 into full swing.
Diverse companies from all over the world are reaching LINE Blockchain for possible business cooperation, and the LINE Blockchain team will expand the global ecosystem by focusing on the essence of blockchain service growth and the creation of token demand. ( > related notice)
■ Zero Reserve strategy of no pre-minted supply
■ LINK Allocation: Staking and Payment
- a) Network Contribution Reward 50%
- b) Service Contribution Reward 30%
- c) Reserve 20%
■ Inflation Rate Decrease in stages (15% → 5%)
Rapid Growth of the LINE Blockchain-based Global NFT Ecosystem
■ LINE Blockchain-based global wallet records 1.12million
- Top 7 countries: Japan, US, Indonesia, Vietnam, Korea, Thailand, Taiwan
■ LINE Blockchain’s first global NFT platform DOSI’s rapid growth in recent 3 months
- Wallet sign-up: 40,000+ daily, 600,000+ in 3 months
- Transaction: 5,000+ daily, 67,000+ for accumulated
- Minting sold-out rate: 72% (fastest sold out in 1 min)
■ Once LINK payment is introduced, additional rewards will be provided to LINK-based buyers to contribute to the LINE Blockchain.
LINK Wallet ‘DOSI Vault’ Beta Launched
A non-custodial wallet where individuals have the full control, DOSI Vault for LINK has been beta-launched. Users will have full access to their private keys and assets where they will be able to store and transfer LINK more safely and conveniently. DOSI Vault is 400 times faster than in speed and uses gas fees that are 98% lower than Ethereum, which will be an optimal bridge for connecting Web3 services and the Finschia mainnet.
F&B Membership NFT Launched on the DOSI
Gourmet NFT project ‘Lazy Gourmet Club’ and popular Korean TV show ‘줄 서는 식당’ have launched F&B membership NFTs on the global NFT platform DOSI. An endless supply of gourmet character-based content will be provided in both online and offline events, where the DOSI membership DOSI Citizen as well as an upper participation level will be granted throughout the launch promotion period.
LINE NEXT and Fingerlabs Signed MOU
DOSI and Fingerlabs will expand the NFT ecosystem together by promoting the platform and NFT project collaboration. Fingerlabs is an NFT builder based in Korea creating a blockchain ecosystem through NFT projects like Sun-miya Club and Favorlet. The two companies will provide a new and fun NFT experience through joint marketing and various attempts in the future.
LINE Xenesis and Onlife Signed MOU
LINE Xenesis has signed an MOU with an operator of the world’s leading interactive sneaker game Aglet — Onlife Inc. to develop Aglet using LINE Blockchain and to collaborate with Japanese fashion brands. This collaboration is highly anticipated due to its high potential for Web3 synergy between the two companies as Aglet is already renowned for connecting the virtual and real worlds thanks to people walking around adorned in their virtual footwear.
LINE NFT’s Official Version of Profile NFT Launched
LINE NFT has recently launched an official version of Profile NFT service. Since beta service was introduced last July, about 16,000 PFP NFTs have been sold where users enjoy replacing their personal profiles on the LINE messenger app and LINE NFT. With this service, users can get a new, more cohesive experience with NFTs in the form of entertainment in a community of those who have similar tastes.
⎮ TMI: WHERE ARE WE & WHERE NEXT?
■ Web 3 & Global NFT
Hello, this is Woosuk Kim.
Happy 2023, and I wish you all the best of luck.
2022 was a year of going back to the basics for LINE. LINE NEXT Corp. was founded to move at a greater speed toward a bigger vision, and we have hired number of talented individuals around the world. We have also started a global NFT platform business along with strategic partners, including Softbank, NAVER, NAVER Z, WEBTOON, CJ ENM and YG+. Recently, LTP (an operator of LINE Blockchain) has completed the preparation for an open network as well.
The market has passed its infant stage, and the tide has turned towards a more public service market. Now, the key is not hype, but a real service index: creating a public plaza that collects an exorbitant amount of people, not a small playground for some. This will be a harsh market that will devalue token projects that fail to grow as services.
2023 will be a year of results. Our results will be publicizing LINE Blockchain-based services like DOSI and generating a large-scale, sustainable token demand thus creating a new value.
LINE has every capacity to grow its services, and we’ve been preparing for the last 4 years. We will try our best to create an impact in the global market. We hope you’ll come and support us on our journey.
■ LINE Blockchain Mainnet & Platform
Hello. My name is Alan Goo, and I’m a CTO at LINE NEXT.
2023 has begun, and I wish you the best of luck in this new year. 2022 will be remembered as a harsh winter for many crypto users, but it was also a year of many changes and beginnings for LINE Blockchain.
With its slogan of “NFTs for All,” DOSI successfully completed its global launch and is currently running multiple interesting projects. In addition, LINE Blockchain’s 3rd-generation mainnet Finschia opened, with its goal being “Blockchain for All.” LINE’s virtual asset, LINK (LN), has been successfully migrated. However, the path to “for All” was not fast enough for all of us. This was because we had to be careful as this was all in preparation for a responsible global business. We started as a private chain, but we have not forgotten where we are headed for: decentralization, openness, respect for standards, and participation.
Along with a non-custodial wallet that can be used in Finschia called DOSI Vault, we’ve implemented CosmWasm, which can be used to emphasize W3C WebAssembly’s expansion, function, and security in the development of smart contracts. This function is currently under continuous revision and improvement, and this will be the key to expanding the ecosystem with dApp companies. Finschia’s agreement algorithm, Ostracon, is an open-source project that attempts to improve Tendermint Core while taking into account public blockchains. There will be more and continuous efforts for decentralization and blockchain publicization, so please keep your eyes peeled.
I enjoy looking at the growth of global DOSI users and communities these days, and hope to meet more of you in more countries and various services.
■ LINE Blockchain Product
Hello, my name is Yooho Kim, and what I do is filling in the blanks for LINE Blockchain-based services as a product lead.
Many businesses last year were looking for a model answer for Web3, and LINE was no exception; we have continued to try and revise our efforts internally while exploring the core value of a blockchain service.
The environment was as turbulent as ever but it has let us revisit our paths from the start made us more confident, and as a result, we launched our global NFT platform service DOSI, which means “city” in Korean, to construct a new city within a drying market. We hope you’ll connect and participate in various NFT services through DOSI’s avatar, Citizen, and enjoy this experience.
2023 will be a fruitful year for LINE as creators and users support each other and grow together within LINE’s Web3 ecosystem. In addition, DOSI will bring even more change than any of the services launched in the past 4 years have. We hope that this will be the year that we can stimulate all five of our users’ senses.
■ Entertainment NFT Platform ‘AVA’
AVA aims to create a decentralized automatic organization (DAO) that encourages strong communication between artists and their fans via NFT, and facilitates growth together. As a start, AVA has partnered with NAVER NOW and NMIXX to bring “NOW. Drops” to the world. NOW. Drops is a new, fandom experience-based NFT, in which fans can own a moment of their choice pertaining to their favorite artist.
In 2023, AVA is finally taking its first step with its launch in the first quarter. First, AVA will continue to release various artists’ brand stores, including NOW. Drops. In addition, it will be releasing AVA’s DAO — AVA Playground — where fans who own NFTs can influence decisions such as artist cheers and AMA agenda.
Keep your eyes open to see what AVA can do, along with LINE Blockchain, on the global stage.
■ Blockchain-based Web3 Game Platform ‘GAME DOSI’
GAME DOSI, in line with the Web3 paradigm shift, aims to become a game ecosystem space that users can foster, while enjoying their games. In order to do this, the team is in the process of creating a Web3 platform that supports NFT item transactions, based on the blockchain technology from LINE.
GAME DOSI has opened its first brand site in November of last year and participated in the international game show G-STAR 2022, enjoying much attention from hundreds of global game companies. Thanks to that, GAME DOSI was able to spend a lot of time in meaningful meetings pertaining to the construction of a Web3 game ecosystem.
This year, GAME DOSI will provide high quality content with numerous partners, hoping that all users will benefit from LINE Blockchain technologies, to enjoy the games and pay and trade NFT game items in a familiar manner.
- GAME DOSI Teaser: https://game.dosi.world/
■ Avatar NFT Service ‘AlphaCrewz’
2022 was a year of traveling down entirely new paths for the AlphaCrewz team. Excitement for a new market, responding to rapid market changes, establishing a new direction, and various other challenges helped the team learn and grow. These all confirmed their core value and philosophy, which is that the most important thing is to make what the users want. Based on this, AlphaCrewz recruited “AlphaCrewz: The First Crew” and started running the community. This proved invaluable in 2022.
This year, AlphaCrwz plans to launch their avatar services, and they are very excited but also nervous for how all their users will find it. Instead of trying to do much in the first step, they will focus on the core of what an avatar is so that anyone can create their own avatar and use them. Digital fashion, art, short-form, and virtual influencing are just a few things that an avatar can do. They will be partnering with users, creators, and companies that love avatars, so please stay tuned!
- ACRZ Official Site: https://alphacrewz.store.dosi.world/
⎮ LINK Overview
❖ Data is based on the last day of each month.
■ LN Market Cap: 154.69 mn USD
■ LN Price: 22.97 USD
■ Monthly Trading Volume: 651.25mn USD
■ Circulation: 6,734,458 LN
■ Officially Listed Exchanges: LINE BITMAX, Bithumb, MEXC Global, Gate.io, Huobi Global
Follow LINE Blockchain on Twitter or Facebook for the latest news and updates. A monthly newsletter is issued on the 10th of each month or the following business day in the event of a weekend or holiday. Advance notice will be made through social channels should any delay, omission or other issues occur.
**This newsletter is issued by LINE TECH PLUS (LTP), which operates LINE Blockchain.
**Disclaimer: LINE TECH PLUS informs the business and services related to the LINE Blockchain ecosystem as an operator of LINE Blockchain Mainnet and the LINK issuer. Please note that the business entities differ by service.