LYR tokens

Lyra “native” tokens (Lyra.LYR, or simply LYR) are used by the Lyra network for authorizer nodes voting and paying a fee for certain types of transactions. LYR tokens will be distributed through the upcoming faucet, airdrop, bounties, and other means (see below).

In the future, Lyra users and third party developers might need to purchase LYR tokens from the market in order to run their applications.

LYR existence is necessary to kick off Lyra network to enable DPoS, jump start network activities, and incentivize network and application development. While it will retain its voting and governance power, it might be eventually supplemented by fiat and crypto currencies (their Lyra tokenized surrogates) as a payment method for some transaction types.

Total supply: 10B

• Created in genesis block, finite (no extra tokens can be added).

• Will be gradually distributed to the following items (with initial circulation estimated at less than 10%):

  • Bounty campaigns, including testing, bugs, social media, designs, and more

  • Airdrop campaigns

  • Faucets (CAPTCHA website)

  • Software development (developers, testing, management resources)

  • Operation (hosting and other services, development tools, company infrastructure)

  • Business and product development (sales, project and product management) Marketing (social media, direct marketing, and more)

  • LoyalShopper merchant programs subsidy

  • Reserve fund