Everything You Need to Know About LightLink's Token Launch

We are excited to see massive interest in our LBP from the community. Given the numerous questions on our social media, we have consolidated everything you need to know about LightLink and its token launch in this article.

Read below about LightLink's features, token launch, tokenomics, circulating supply, funding breakdown, airdrop plans, roadmap, and more.

For those who want to acquire LightLink tokens, join our LBP on Fjord Foundry until 10 AM UTC on April 23, 2024.

What is LightLink and how does it differ from other L2s?

LightLink is an EVM-equivalent L2 blockchain that lets dApps and enterprises offer users instant, gasless transactions.

• Celestia underneath
• 100,000+ daily transactions on Mainnet
• Community of 200,000+ members
• Partnered with Animoca Brands
• 30+ ecosystem projects
• $6.2M in seed funding

LightLink is the first L2 leveraging Optimum architecture with a proprietary stack. We separate consensus, execution, and data availability layers to achieve 10,000+ TPS at under $0.01, without gas spikes.

LightLink’s key feature is the Enterprise Mode. It enables predictable, gasless transactions directly from your Web3 wallet without extra complexities. Numerous projects, including Grapes and TallyUP!, are already using Enterprise Mode to provide their users with a gasless experience.

LightLink also has a Public Mode, which operates as usual in any other L2. Even though our fees are lower than $0.01 and will further decrease with network updates, users still have to pay fees.

Mainnet stats

Mainnet was launched in January 2023. Since then, our network stats have been on the rise. Below are our Mainnet stats as of April 20, 2024:

• Total transactions: 19,750,000
• Daily transactions: 105,000
• Wallets: 410,000
• Total contracts: 23,250
• Total contracts on Testnet: 275,000

Check out our explorer for more stats.

LL Token Launch Details: LBP and TGE

We are using a Liquidity Bootstrapping Pool (LBP) on Fjord Foundry for LL token distribution.

• Start: April 18, 2024 at 10 AM UTC
• End:  April 23, 2024 at 10 AM UTC
• Supplied tokens: 50,000,000 (5% of the supply)
• Start Weights: 99% LL / 1% ETH
• End Weights: 1% LL / 90% ETH

Our pre-LBP advisors include Artis, who has guided the parameters and timing of our LL LBP. They have been involved with many successful LBPs in the past, and we are fortunate to have expert pre-LBP advisors like them.

Why LBP?

LightLink is adopting the LBP because this method adjusts prices based on demand, preventing the dominance of whales and bots and ensuring a fair purchase price for all participants.

We prioritized the LBP over larger VC rounds because our ultimate goal is to ensure that the network is owned by our community.

Why a 5-day LBP?

We opted for a 5-day LBP to provide as many community members as possible the opportunity to make an informed decision and participate in the LBP. 

Plus, we want to ensure that LL tokens are distributed at a fair price, and a longer LBP aligns with this rationale.

What chain is the LBP live on? What currencies can I use to purchase tokens on Fjord Foundry?

Our LBP is live on Ethereum. You can use ETH, WETH, USDT, USDC, and a bunch of other currencies to get LL tokens on Fjord. The platform will take care of swapping them.

How many wallets can I use? Can I perform more than one transaction?

You can use as many wallets as you want to participate in the LBP and initiate as many transactions as you deem appropriate.

Can I sell during the LBP?

Yes, you can. The sell function is enabled, as it’s common practice for LBPs on Fjord.

Why cannot I buy tokens with USDT?

Fjord informed us that although any token should work fine, USDT sometimes does not. They recommend swapping to WETH, but other currencies like ETH should work just fine as well. Apologies for the inconvenience!

What to do if I cannot perform a transaction?

If you cannot perform the transaction, try to close the app, clear the cache, and connect the wallet again. Ensure the slippage is set to 0.5%.

If the project amount is not displayed after you input the collateral token, check the balance in the wallet and ensure you do not type in a larger amount.

If the issue is not resolved, feel free to ask a question on Fjord's Discord or on our Telegram and Discord channels.

What happens with unsold tokens?

Unsold LL tokens from the LBP will be retained in Ecosystem Growth Fund.

Wen tokens? Is there any lock-up?

All tokens acquired during the LBP will be fully unlocked for participants at the TGE. 

Where can I check the tokens I have acquired?

Before the completion of the LBP, you can check the tokens you bought by viewing your amount on Fjord Foundry. Just connect your wallet, head to our LBP page, and check the amount of tokens in the buy module situated at the top right of the page, or look into your trades.

How can I redeem tokens after the LBP?

You will have to manually redeem them on Fjord Foundry upon the completion of our LBP. Until then, you will not be able to see them in your wallet.

What is TGE?

The Token Generation Event (TGE) is the moment when our token is generated and becomes available to the public on exchanges.

Will you have a liquidity pool on any DEX?

The LightLink team will set up a liquidity pool on Ethereum Mainnet on Uniswap and LightLink Mainnet on Elektrik with a portion of the funds raised from the LBP.

OK, what about CEXes?

LL will be listed on Bybit, KuCoin, and Gate.io at 8 AM UTC on Apr 24, 2024. Deposits will open at 10 AM UTC on Apr 23, 2024.

Circulating supply

We understand that keeping the circulating supply low at the TGE is strategically important. That is why only 6% of our total supply will be circulated at the TGE, including tokens allocated to:

• LBP: 5%
• Funding: 0.1%
• Airdrop: 0.1%
• Ecosystem Growth Fund: 0.8%

Plus, we will be unlocking 2.5% of the total supply for liquidity market-making so that we can facilitate a smoother trading experience.

At the same time, team tokens have a 15-month cliff and then are vested over 18 months. Private seed raise and advisor allocations are locked for 12 months and then are also vested for 18 months. We are here for the long-term perspective.

Tokenomics

LL is LightLink's native token. It serves as a medium of exchange and allows holders to own the network via governance.

We will also launch a node NFT sale, giving LL holders the opportunity to purchase nodes.

The last time we updated our tokenomics was in December 2023 when we reduced the team allocation to increase the airdrop allocation to 6%, among other changes.

Since then, we have reserved 1% of the initial TGE allocation for marketing activities around listing on CEXes and increased the allocation for the private seed raise following an increase from strategically important investors for the ecosystem. Thus, we wanted to allocate more tokens towards executing a go-to-market campaign, as we understand the token launch is a vital period in the life of any project.

Funding breakdown

Earlier in April, LightLink announced an extension of its seed round due to high demand, securing a total of $6.2M in funding from two groups of investors:

1. $5.45M from Web2 and Web3 VCs, such as MH Ventures, NxGen, B3V, Blue7, T&B Media Global, and others.
2. $747,500 from angels, including Anbessa, Eric Cryptoman, Lady of Crypto, Satoshi Stacker, That Martini Guy, Zoran Kole, Ivan on Tech, and dozens more.

The rationale for extending our seed round is to satisfy the huge interest from VCs and angels, allowing our ecosystem to benefit from this interest over the long term:

• We plan to allocate these funds to continue building a Web3 ecosystem for millions of users from our enterprise partners and to enhance our proprietary technology that enables gasless transactions.
• We are actively exploring ways to introduce our innovations, experiences, and network to their existing portfolio companies.
• Angels help us gauge what is of interest to their audiences so we can tailor our go-to-market strategy accordingly.

VC terms:

• TGE unlock: 0%
• Cliff: 12 months
• Vesting: 18 months
• Amount: $5.45M
• FDV: $30M
• Token price: $0.03

Angel terms:

• TGE unlock: 15% (0.1% of token supply)
• Cliff: 0 months
• Vesting: 8 months
• Amount: $747,500
• FDV: $40M
• Token price: $0.04

Doxxed team

LightLink is developed by Pellar Technology, a team of entrepreneurs and engineers who have built over 50 blockchain projects for major APAC enterprises since 2017.

We are proud of our fully doxxed team, including: 

• Roy Hui, Co-Founder and CEO (Twitter, LinkedIn). Wtih over two decades of engineering experience, Roy has founded and exited firms like MMGN, Market Engine, and media ventures AutoCult and SheSaid. His passion for blockchain started when he first purchased Bitcoin in 2012.
• Olivia Romero, Co-Founder and COO (LinkedIn). Olivia’s finance and accounting career started at The Boston Consulting Group. She has worked in digital transformation with Publicis Sapient, Open Markets Group and co founded Market Engine, which was later significantly acquired by Royal Mail.
• Daniel Enright, Ecosystem Lead (Twitter, LinkedIn). Dan started at Atari Melbourne House in 2006 and later worked at National Australia Bank for three years. His recent experience running his own Web3 infrastructure business puts him in an ideal position to develop Web3 ecosystems.

Check out the team on our website or LinkedIn.

Airdrops

We are leveraging two airdrops to grow our community and ecosystem:

• Dozens of thousands of users have participated in our ongoing Community Airdrop. We concluded Phase 1 on Galxe earlier this year. Phase 2 is ongoing, and Phase 3 is to be announced.
• We have also announced our Ecosystem Supporters Airdrop aimed at rewarding communities that help secure our network. More details are to be announced soon, but we have already announced an airdrop of LL node NFTs to TIA and PYTH stakers.

0.58% of the total supply is allocated for Community Airdrop Phase 1. About 0.1%, representing a 20% unlock, will be released at the TGE, with the remainder vested in NFTs.

More campaigns are cooking up as we intend to reward users and communities who contribute to the network in the long run.

Roadmap

After the TGE, the real journey begins. We will be introducing a validator program, new airdrop campaigns, DAO governance, sequencer decentralization, and further DA exploration.

One of our primary focuses will be on growing our ecosystem via strategic partnerships with Web3 and Web3 companies. Many of these are already in the works and will be announced shortly.

Our roadmap is available on the website, and we provided a bit more details on Twitter.