Low Orbit Crypto Cannon (LOCC) is a deflationary decentralized finance (DeFi) token that operates on the Ethereum blockchain. It uses smart contracts to facilitate a unique propulsion mechanism that occurs every 138 Ethereum blocks. LOCC token holders, also referred to as astronauts, stake a minimum of 0.055 LOCC tokens to be eligible for a draw. The draw selects one staker at random to receive all the accumulated fees from the previous 138 blocks. The token's deflationary nature means that the circulating supply will continue to decrease until only 500 tokens remain in circulation.

LOCC operates through a system of staking and propulsion. Token holders stake a minimum of 0.055 LOCC to enter a draw. Every time a trade occurs, fees are generated, partially burned, and then added to the propulsion pool. Every 138 Ethereum blocks, a propulsion event takes place. One staker is randomly selected during this event and receives all the fees accumulated in the propulsion pool. Additionally, for every transfer of the LOCC token, 5% is burned from the supply, and another 5% is sent to the Low Orbit Propulsor Contract for the lottery.

The primary use case for LOCC is as a staking token within its unique propulsion system. By staking LOCC, token holders can potentially receive a compensation if they are chosen in the propulsion draw. This system aims to incentivize holding and staking of the token, thereby striving to promote stability and longevity for the token's ecosystem. Additionally, the deflationary nature of LOCC could potentially increase the value of remaining tokens over time as the supply decreases, making it a part of the broader DeFi landscape.

The history of Low Orbit Crypto Cannon is rooted in the evolution of the DeFi space on the Ethereum blockchain. As a deflationary token, LOCC was designed to address issues of inflation and supply overabundance that can affect the value of cryptocurrencies. The unique propulsion mechanism was developed as an innovative way to distribute transaction fees to token holders, incentivizing participation in the LOCC ecosystem. The project aims to focus on transparency and fairness, with the random selection of propulsion winners aiming to give all stakers an equal opportunity to participate in the system.