Lynchpin Token Ecosystem Review: Utility Tokens for Real-World Use

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Tue, 07/07/2020 - 18:54
Vladislav Sopov
The Lynchpin project is building an all-in-one tokenized ecosystem merging the majority of modern token use-cases with a special focus on real-world offers
Cover image via U.Today
Contents

Despite cryptocurrency adoption being on the march, there is a lot of work left in this field. Particularly, for real-world use-cases of crypto, i.e. solutions that allow the use of digital tokens as real instruments of exchange and stores of value. This review will cover how the Singapore-based product Lynchpin is attempting to address these challenges.

Lynchpin: the project and its token

Lynchpin Token was launched back in 2018. Its team is decentralized but its main operations are located in Singapore. The project strives to bring tokenization into real-world financial operations and, therefore, build all-in-one ecosystems for buyers, sellers, investors, traders and vendors.

Its LYN token is issued on the most secure dApp platform, Ethereum (ETH), and belongs to the ERC-20 standard, which is common for successful utility tokens.

Basics of LYN tokenomics

LYN token has well-designed tokenomic fundamentals oriented for the long-term interest of the token and supported by multiple catalysts.

Table 1. The fundamentals of LYN tokenomics
Fixed Supply Transparent Token Supply Model No 'pump-and-dump' instruments
  • Only 5M LYN tokens will be issued. 
  • 1M will be assigned to a team will be locked for 1 year 
  • 2M private sale will be locked for one year
  • 2M will be in circulation
  • No mining
  • No staking
  • No bounty program
  • No free airdrops

Lynchpin team has inked a partnership with PureGold.sg for the unique Gold Assurance Program to guarantee the 2M that are sold during IEO will be assured with physical gold. Token holders can be sure that this is a reliable anti-dump mechanism as the the Gold Assurance Program is tied down to initial purchase amount. 

 

Lynchpin tokenomics design guarantees the supply/demand balance due to the opportunity of the affiliates and crypto-cashback operators to place the orders on purpose-made exchanges, and, therefore, ensure the high level of liquidity. 

Additionally, the arbitrage trading with LYN token is one more of its lucrative use-cases due to low supply and guaranteed liquidity.

Initial exchange offering

The Lynchpin (LYN) project will launch an initial exchange offering on popular Korean platform ChainX. The first stage of the IEO will start on July 6, 2020.

Table 2. Lynchpin Token characteristics
Token Name Token Ticker Token Type Token Platform
Lynchpin Token LYN Utility (not security!) Ethereum (ERC20 token issuance standard)
Table 3. Three stages of the LYN token initial offering on ChainX
IEO Stage Dates (2020) LYN Token Price
First stage July 6 - July 12 $5.00
Second stage July 20 - August 16 $5.05
Third stage August 24 - August 30 $5.10

Token use-cases

LYN token, the nucleus of the Lynchpin ecosystem, provides its owners with a couple of lucrative financial opportunities. Thus, it acts as a multi-purpose instrument for rapidly-expanding toolkits of products.

Luxury goods e-store

LYN token will be accepted as a payment instrument on the GoBuyBid luxury supplies digital store. Clients of GoBuyBid who use LYN token will be eligible for a discount and an affiliate program. 

Payment processor and exchange

LynPay Solutions is a contemporary payments processor that offers solutions for e-wallet services. It has a fiat paygate so the merchants that implement it into their web-sites, can receive payouts in fiat. Crypto cashbacks and LYN-based rewards systems are also available. 

This system showcases great scalability potential.

Furthermore, there is a native exchange instrument available for LYN holders, LynExchange. It offers both crypto-to-crypto and crypto-to-fiat exchange solutions. LynExchange has partnered with a world-level liquidity provider to guarantee high liquidity and competitive exchange rates.

Vending machines

The lynchpin project team designed and deployed the concept of a system for accepting cryptocurrency in vending machines worldwide.

The technology can boost the real-world adoption of cryptocurrencies since it supports LYN Token payments Bitcoin(BTC), Ethereum (ETH) and USDT transactions.

Coming soon

The lynchpin project team is constantly searching for new opportunities to enrich the toolbox of LYN functions. The closest releases will include a gaming platform, banking environment and academy.

Gaming platform

Recently, Lynchpin injected new life into its gaming platform with a new partner. Within this platform, in-game assets will be available for LYN tokens.

The affiliate program of the platform will allow gamers to monetize their social exposure. All affiliate rewards will be paid in LYN to ensure long-term interest in the token.

Banking

LynGlobal, a new-gen digital bank, will offer banking solutions for cryptocurrencies. Its users will be able to deposit Bitcoin (BTC), Ethereum (ETH) and Tether (USDT) and to earn annual yields on their dormant crypto riches.

Crypto-powered debit and credit cards will be issued for clients of LynGlobal. LYN ‘frozen’ deposits with high annual yield will provide one more opportunity for passive income.

Academy

The Lynchpin Academy will educate people on the history and progress of the blockchain segment. Students will learn trading strategies, study blockchain fundamentals, discover new valuable products.

Trading Education programs will teach students to earn up to 1% from arbitrage trading.

Conclusion

All in all, the Lynchpin project team has established highly ambitious goals. The multi-purpose approach to the utility token concept is the only way to build such a sophisticated ecosystem.

At the same time, with well-designed tokenomics and a wide range of partnerships, LYN will become a valuable and useful instrument in retail payments and remittances.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)


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