TIAMONDS- LCX Tokenized Diamonds – An Overview
di LCX Team · · Updated February 6, 2023
LCX has launched Tiamonds that are tokenized diamonds on the Ethereum blockchain. The token is a 1-1 digital representative of the individual diamond. Tiamonds has been developed as a non-fungible token with the ERC-721 token standard in combination with features known from the Liechtenstein Protocol.
Each Tiamond is described with its key characteristics in the 4 C’s: cut, color, clarity, and carat. Furthermore, each Tiamond will include an LCX Physical Validator Certificate and a diamond certificate from GIA.
LCX has brought together the most precious stone, the diamond, and the crypto industry. The objective is to add diamonds to your investment portfolio easily.
The launch date of Tiamonds first auction and deployment of $TIA on-chain is 22.02.2022.
BENEFITS OF TIAMONDS
Tiamonds use the Ethereum blockchain and the ERC721 Non-Fungible Token standard to create digital representatives of single diamonds and enable that diamond to function as a tradeable asset.
– Asset-Backed Investment: Each Tokenized Diamond is backed 1-1 by real-world individual diamonds.
– Tokenized Diamonds are NFTs and can be traded and even redeemed.
– Rewards of TIA Tokens over a fixed period of time.
The approach of Tiamonds is to embrace the lack of fungibility as a non-fungible crypto asset. Tiamonds can now be traded on any crypto-exchange in the world that supports the ERC721 standard.
HOW TO PURCHASE TIAMONDS?
Tiamonds Sale at Fixed Price
The Tiamonds sale at a fixed price is limited to VIP users at LCX. At LCX, to become a VIP user and have access to the Tiamonds sale, users will be required to stake 1 million LCX tokens for at least a year.
VIP users will have preferred access to the Tiamonds sale platform and can buy a maximum of one Tiamond. As a payment method, only LCX Tokens are accepted.
Tiamonds Auction
After the Tiamonds sale at a fixed price is concluded, the Tiamonds auction will start. The auction is accessible by every verified LCX user. Tiamonds auction will begin at a minimum price, and then users can make a bid until the auction ends.
TIA TOKENS AND IT’S DISTRIBUTION
TIA Tokens is a community first, and fair launched DeFi Token and are deflationary cryptocurrency, as the supply drops with time.
In every on-chain transaction, a fee of 10% total is taken and is split three ways automatically:
- Reflection: 5% fees are redistributed to every present holder.
- Rebalancing: 2.5% fee is automatically sold by the smart contract into LCX Token at Uniswap.
- Burn: 2.5% of the TIA Tokens are burned automatically.
The owners of Tiamonds will receive Tia tokens in an “Own to Earn” model during a certain period of 1 million minutes (roughly 2 years) with a rate of 1 TIA Token per minute for every Tiamond NFT. The distribution begins directly after the initial token offering and sale on the LCX platform.
Strengthening the LCX Ecosystem
The TIA Tokens and Tiamonds strengthen the LCX ecosystem completely.
– To buy Tiamonds and claim TIA Token rewards, you must be a verified LCX user.
– Tiamonds can be bought through LCX Token.
– Tiamonds fixed-price sale is only accessible to VIP users who have to stake 1 million LCX for a year.
– The Rebalancing function is to activate an automatic market buying procedure of LCX Token on the decentralized exchange Uniswap.
The Bottom Line
Tiamonds will definitely change the investment profiles of many investors and will diversify their investment portfolios. The best part is Tiamonds can be traded or sold easily on NFT marketplaces like new LCX NFT Marketplace, OpenSea and Rarible etc.If you have not discovered it yet, the right time is now because Tiamonds is the new light in asset tokenization.
