Supply

The $LPC Supply

At the time of mint, the total supply of the $LPC tokens will be 0, and all of it will be mined by the NFT stakers.
The maximum supply of the $LPC token will be 50,000,000. After all of the $LPC tokens have been mined, the supply will be fixed, and no more tokens will be able to be mined.
The staking rewards are meant to incentivize and to reward the long-term holders of the NFTs for their strong sense of community.

Burning Mechanism

The supply of the $LPC token will be burned from day one. The burning of the tokens will occur upon the participation in raffles, purchases on the Utopia marketplace and more.
The remaining supply at the end of the last mineable token can be calculated by using this formula:
Burning Formula: Remaining supply= 50000000- 0.8*(Number of raffles*Raffle tickets sold*Ticket price) - Burned Tokens (Other utilities)
(The other 20% of burned tokens will be taken out of the circulating supply and locked in the Lion Pride Club community wallet, for future project development funding)

Coin mechanic

  1. 1.
    Initially the coin is designed to be slightly inflationary, as the supply will be controlled using the Burning mechanism implemented.
  2. 2.
    After the last mined token from staking rewards is redeemed, the supply will become fixed while the Burning mechanism will still be active, making the token deflationary.
Example:
  • Initial supply= 50,000,000 $LPC
  • Staking reward to NFT holders per month: 10 ($LPC per day)*30 (days) *7000 (NFTs staked)= 2,100,000
  • Burning of tokens per month: 4 (number of raffles per month)*70 (1 ticket cost) *5000(Total tickets sold per 1 raffle) = 1,400,000
  • The inflation is 1.4% of the total supply.
  • The final token will be mined after 50,000,000/2,100,000= 24 months
  • The actual supply of tokens after 24 months due to burning = 16,800,000
  • In this scenario 66.4% of the supply will be burned upon the last mined token
(The exact % of the burned supply and the time of the last mined token will depend on the staked number of NFTs)

Initially the coins will not be tradeable on DEXs. There are two reasons for that:

  1. 1.
    To establish an inherent project based token value. Utility tokens that only have a material USD based value, without having an inherent project based utility are not sustainable, as the only value for token holders is to sell and convert it to USD.
  2. 2.
    Make the community members the only party that can impact the value/price of the token. By not doing an ICO, we eliminated the risk of supply/price manipulation from third parties upon a potential IDO release. This mechanism was established in order to protect the $LPC token holders upon a potential IDO, when we make the coin tradeable.
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Outline
The $LPC Supply
Burning Mechanism
Coin mechanic