After LINE, the Japanese messaging giant platform announced its initiative to launch a $10million token fund early in August.
Now, LINE has announced its move to launch its own Blockchain mainnet with LINK as its very first cryptocurrency on the network. The announcement came about on Friday as the firm confirmed that the genesis block for LINK Chain has already been created ago.
Over 500 million LINK tokens Up For Grabs
LINE aims to issue a total of 1 billion of its LINK tokens gradually, with 800 million of the tokens to be distributed to the public. The rest of the tokens, according to the announcement, will be held by the company’s reserves.
The announcement further mentioned that LINE plans to use the LINK token as an incentive for users to participate in the decentralized applications that LINE has built on top of the LINK Blockchain network.
By September, users will also have exclusive access to LINK through the BITBOX digital asset exchange, adding to the alternative methods that Japanese investors have to acquire cryptocurrencies.
More on the BITBOX Exchange
BITBOX, a new exchangein the crypto space, is still looking to get a full license. However, it is on track to offer exclusive benefits to it users as they will be able to enjoy access to other digital assets apart from LINK. Plus, users will be able to trade LINK on the BITBOX exchange from next month.
As the first publicly traded company to develop its own proprietary Blockchain platform, LINE has broken a record as it seeks to use LINK to incentivize the building of dApps on the platform.
Also, thanks to LINE’s extensive experience in building infrastructure and large-scale networks, the LINK chain is expected to be stable, with minimal wait times.
Japan’s residents will receive points in LINK to incentivize more activities on the different dApp services the network will provide.
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