Seattle, Washington--(Newsfile Corp. - January 30, 2023) - KaJ Labs has confirmed the upcoming 200M token burn schedule for Lithosphere network's native token, LITHO. LITHO allocated for the burn events will come from KaJ Labs and founder Joel Kasr's allocation contingent on approval from KaJ Labs' board of directors. The burn events will lead to the reduction of Litho's max supply to 800 million from 1 billion once the main network goes live in 2023. The burn events are apart of Lithosphere's updated roadmap for continued, long-term network sustainability.
The burn events aim to decentralize the Lithosphere blockchain while also increasing the utility of the chain's native token - LITHO. The token burns would also improve LITHO's intrinsic value in the future by burning a portion of the gas fees.
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The exact mechanism of the burn events will be decided at a future date, along with the percentage to be burned each epoch.
KaJ Labs will also support efforts and campaigns to list Terra Luna Classic on top tier CEX like Coinbase to further LUNC's adoption.
Lithosphere is the future infrastructure for distributed value transfer and will offer interoperability across multiple blockchain networks. It addresses bottlenecks hindering mainstream Web3 adoption.
Lithosphere is a next-generation network for cross-chain decentralized applications powered by AI and Deep Learning.
About KaJ Labs
KaJ Labs is a decentralized research organization focusing on AI and blockchain technology. We're driven to create innovative products that work for the greater good around the globe.
KaJ Labs Foundation
4730 University Way NE 104-#175
Seattle, WA 98105
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