Tiamonds: Tokenized Diamonds
za LCX Team · June 28, 2021
LCX is thrilled to introduce a new age in the tokenization of assets with the introduction of Tiamonds, a project by LCX with the goal to showcase the opportunities of tokenized assets, to educate consumers about tokenization by gamification and to create a community-driven token economy.
Tiamonds is the world’s first project combining asset tokenization, education and gamification with a deflationary cryptocurrency all built on the Ethereum blockchain.
LCX always had the goal to Reimagine Digital Tokenized Assets and bring tokenization into the mainstream with its technically sound and compliant ecosystem. Tiamonds will be a part of the LCX initiative to bring tokenization to millions with the core methodology of gamification of the assets to educate and inform everyone about tokenization and give everyone a chance to participate in a sustainable and fair launch.
Tiamonds project by LCX includes two key elements: Tokenized Diamonds called Tiamonds and a deflationary cryptocurrency called TIA Token.
Tiamonds are non-fungible tokens (NFT) representing the 1-1 ownership rights of real-world Diamonds. The first generation of Tiamonds are 100 tokenized diamonds. Each Tiamond is receiving TIA Tokens as rewards over time through the “Own to Earn” model – the owner of a first generation Tiamond NFT will receive 1 million TIA Tokens, where 1 TIA Token will be rewarded every minute for 1 million minutes.
TIA Tokens is a community-driven, fair launched DeFi Token connected to Tiamonds. TIA Tokens are a deflationary cryptocurrency with three simple functions which occur during every transaction: Reflection, Rebalancing, and Burn. The rewards for the first generation of Tiamonds drop is set to 1 million TIA Tokens per Tiamond. The amount of TIA Tokens reward for each Tiamonds will be reduced in the future and will be decided with governance system. TIA Tokens have to be staked for delegation and usage to vote through the Tiamonds governance platform.
In every on-chain transaction a fee of 10% total is automatically taken and is split three ways:
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- Reflection: 5% fees are redistributed to all existing holders.
- Rebalancing: 2.5% fee is automatically sold by the smart contract into LCX token at Uniswap. The acquired LCX Token will be added to the long-term LCX company reserve.
- Burn: 2.5% of the TIA Tokens are burned automatically.
The LCX Ecosystem is proud to add another milestone in tokenization and a step towards a token economy with the addition of Tiamonds and Tia Token under its umbrella. LCX believes in the potential of tokenization, but we also see the barriers which need to be overcome to embrace blockchain technology for asset digitalization fully.
The Tiamonds project and TIA Token is strengthening the LCX ecosystem as a whole.
- To purchase Tiamonds and claim TIA Token rewards, users must become a verified LCX user.
- Tiamonds can be only bought with LCX Token.
- Tiamonds fixed price sale is only available to VIP users who have to stake 1 Million LCX for 1 year.
- The Rebalancing function is triggering an automatic market buying process of LCX Token on the decentralized exchange Uniswap.
We aim to raise awareness for tokenization and make tokenized assets approachable for the everyday consumer and bring us closer to the widespread adoption of cryptocurrencies and blockchain technologies.
We trust our community and genuinely believe that information, education, and a practical application and user experience are key to making the market of tokenization a global phenomenon. We strive every day to establish a blockchain ecosystem and technology infrastructure to harvest these future opportunities. With Tiamonds, we are exploring digital scarcity and tokenization of assets, an exciting but underexplored concept that blockchain empowers.
Disclaimer: This content contains forward-looking statements that involve inherent risks and uncertainties, and we might not be able to achieve the predictions, forecasts, projections and other outcomes we describe or imply in forward-looking statements. A number of important factors could cause results to differ materially from the plans, objectives, expectations, estimates, and intentions we express in these forward-looking statements and in other public filings and press releases. We may not achieve all of the expected benefits of our strategic initiatives and partnerships. Factors beyond our control, including but not limited to the market and economic conditions, changes in laws, rules or regulations and other market challenges, could limit our ability to achieve some or all of the expected benefits of these initiatives. This content is not financial advice and should not form the basis of any financial investment decisions nor be seen as a recommendation to buy or sell any good or product. Trading cryptocurrency is complex and comes with a high risk of losing money, particularly if you trade on leverage. You should carefully consider whether trading cryptocurrencies is right for you and take the time to learn how trading works and decide how much money you are prepared to lose.