New Project changes
New measures, transactions, movements, improvements.
Last updated
New measures, transactions, movements, improvements.
Last updated
Since day 4th August 2022 there is a strategic change: every 1 million LCR that goes quarterly to the company's main wallet (0x34CfbB3a3533De9D2574cBfd8e8aeE1119273233) will go to the following contract 0xb061dac5ab20fd7c5b4c4848689e74fa8925e887 and it will be locked permanently. In other words, there are fewer LCRs available. It does not directly decrease supply or affect the price of LCR, but intrinsically increases the value of the token.
On day 8th May 2022 there was a sell-off from some project contributors on the wallet 0xe3ad4c0da8fbd3a767644b1b53631adcbb4766cb.
This happened after the team asked every contributor to lock their tokens for several months, in order to improve the stability of the LCR price.
However, there were some that didn't agree and decided to sell just enough to recover their initial contribution.
The documents that prove the statement is the following:
Project contributors
2. Bank movements
3. Binance transactions
This was one of the reasons for the price fall, the other reason was the overall cryptocurrency market fall (BTC, BNB, and many altcoins had huge falls - the worst fall was from Luna/Terra).
The LCR token liquidity pool is in BNB. The BNB price significantly impacts the LCR price. If BNB is increasing then it will positively impact the LCR price. However, the opposite is also true and if the BNB price goes to "0", theoretically, the LCR price will follow.
Around 94% of the LCR liquidity pool was added by the company Cripteracia and it is locked. The 6% left was added by individuals including Gustavo to contribute to the liquidity pool.
We are still learning and thinking on more measures to improve the stability of the LCR price.
The project contributors that sold some of their LCR will have the rest blocked permanently - in total 124.604 LCR are blocked permanently:
Another measure that we implemented: founder/team/contributor wallet with more than 50.000 LCR on 26th May 2022 is locked for 6 months (until 22 November 2022) and then 5% will be returned monthly (it will take more than 2 years to have the 100% back):
The liquidity pool on Pancakeswap was locked for 2 years (until 15th May 2024):
