The team that previously introduced one of the first DeFi ecosystems in the industry under the name Werewolf has presented the next generation of the species with the Lycan Chain. Lycan Chain is named for the myth about Lycans that possess speed, immutability and immortality.
About Lycan Chain
Lycan Chain’s release is timed to the phase in which blockchain technologies have become a significant part of many businesses that utilize data transaction and storage. But with the current solutions on the market, it is hard to call blockchain a revolutionary technology due to the inability of some chains to process a large number of transactions and to scale in general.
Lycan Chain was designed for solving scalability issues and bringing full adoption to the scene. Lycan’s EVM compatibility is not a limitation for it; at the same time, it remains compatible and interoperable with Web 3.0 and allows high bandwidth, smart contract tooling and many additional solutions.
LYC acts as a native currency of the Lycan Chain, which also acts as a governance token for the blockchain. By using LYC as a governance token, Lycan users are able to shape up the future of the project. In addition to the governance system, every transaction happening on blockchain is by either staking LYC or paying LYC.
One of the most unique features of the Lycan Chain is its own architecture that allows the top 21 stakers of LYC to become validators of the blockchain. In addition to that, Lycan utilizes a hybrid proof-of-stake (PoS) architecture not seen before. It allows validators to invite delegators by burning the underlying token, LYC.
Every full moon, Lycan Chain holds a fee-burning event where LYC coins are burned as gas fees. Users are also eligible to receive Omega stablecoin in return for burning LYC. Omega utilizes the zero-gas-fee feature for all transactions on the Lycan Chain.
Lycan Chain’s predecessor, the Werewolf platform, offers a large variety of DeFi products like decentralized exchange, staking, Metaverse gaming and other solutions. Users familiar with the platform should remember the Werewolf coin, WWC, which will now be migrated to Lycan Chain.