What Is Lattice Token (LTX)?
Lattice token (LTX) is the token offering of the Lattice Exchange. According to its whitepaper, as a DEX, the platform runs on AMM, Automated Market Maker protocols. Lattice Exchange aims to support seamless exchange between blockchains using DeFi. The platform seeks to employ tools such as Constellation's protocols to distribute data across DeFi networks efficiently.
As mentioned in its whitepaper, the Lattice Exchange platform aims to offer the following features to its users:
Use of liquidity pools with AMM
An efficient algorithm for exchanges across blockchains
Launchpad for new projects
Lending for new projects
AMMs specific to the assets
Offer Lattice Token or LTX
The platform aims to use the unique algorithm and other features to ensure better liquidity for the asset providers and users. An algorithm is a set of instructions that helps computers solve a problem. Also, liquidity is the ease of conversion of one asset into another.
LTX, the native token on the platform, is a governance token. LTX can give the users the voting power to manage activities on the platform. The users and liquidity providers get rewards as LTX tokens. To moderate token numbers and the value, the platform also aims to use methods such as burning a percentage of tokens after reward distribution.
Token burning is removing the tokens from circulation to moderate the value. So, burning activities can enhance the value of LTX, as per the whitepaper. The distribution parameters set by the platform is as follows:
Twenty-five percent of tokens as private and public distribution.
Forty percent of tokens in mining (the platform plans to mint LTX daily)
Fifteen percent allotted to the team and advisors
Ten percent for marketing, and ten percent as reserve
The platform aims to emerge as a new DeFi with innovative applications in blockchain and unique projects. The platform aims to reward users in multiple ways for involvement in the projects.
History of Lattice Token (LTX):
The private and public sales of LTX token was in 2020. The development of Lattice Exchange was in the year 2021, followed by a KYC portal for projects such as launchpad and lending. The team of LTX comprises Michael Brand, who is the chief product officer. The rest of the team consists of cofounders Mathias Goldmann, the COO, Ben Jorgensen, the CEO, Benjamin Diggles, chief strategy officer. Others include Alex Brandes, who takes care of development, and Christy Lai, who handles design. The total token supply of LTX is 100 M.
