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$LOOPIN Token Plan

The $LOOPIN token is the core cryptocurrency and protocol token of the LooPIN protocol, primarily serving as the incentive mechanism within the LooPIN ecosystem. The token is designed to facilitate the seamless exchange of computing resources and promote the efficient utilization of GPU power across the network.

Launch Details​

The initial launch of the $LOOPIN token occurred on the Solana devnet, marking a pivotal step in our approach to a decentralized finance (DeFi) framework focused on GPU power sharing. This preliminary issuance serves as a foundation for testing and development ahead of our mainnet deployment.

Token Distribution​

The distribution strategy for $LOOPIN tokens is designed to ensure maximum fairness and decentralization through a mining-based approach:

  • 100% to Mining: The entire token supply is distributed through mining, promoting a fair launch and widespread participation in the ecosystem.

  • Block Fee Allocation:

    • 10% to the Team: A small portion of block fees supports and incentivizes the core developers of the PinFi protocol.
    • 20% to Ecosystem Development: This allocation from block fees targets key community initiatives and ecosystem growth. Specifically:
      • The funds are stored in the foundation wallet.
      • This wallet is designated for exchange listings, donations, and ecosystem support.
      • Control of these funds is governed by DAO voting for each expenditure, ensuring community oversight.
    • 70% to GPU Miners: The majority of block fees are returned to the miners, rewarding their crucial role in infrastructure support and network stability.

This approach ensures a fair launch where all tokens are mined, while still providing sustainable funding for development and ecosystem growth through a portion of the block fees.

Minting and Distribution Schedule​

$LOOPIN tokens are minted daily to sustain the network and its participants:

  • Minting Schedule: Every day at UTC 0:00, 100,000 new tokens are minted to the treasury account.
  • Halving Event: The issuance rate will halve every year, ensuring a controlled supply expansion over time.
  • Max Supply: The maximum supply of $LOOPIN tokens is 73,000,000.

Token Utility​

The $LOOPIN token facilitates various activities within the $LOOPIN network:

  • Staking: GPU providers can stake tokens to participate in network validation and earn rewards.
  • Governance: Token holders can vote on proposals that influence the development and operational aspects of the network.

Wallet Addresses for Token Distribution​

  • Treasury Address (Devnet): 9TP5HkgZSN3KwhsvhssRpviNFVtAAupPXcz6dJSbCnxq
  • Team Address (Devnet): 6Vdj3NL7K3Mpum1oo5KZ6VLjaxi6QmHdAyFBkaf84ZQG
  • Foundation Address (Devnet): Cibq6gDmMxH7Xj6NHE7F3t8UgpwyPb7U1M258SrC7tbF

Note on Token Transition​

The tokens currently in the devnet are part of a beta test phase. These tokens will serve as qualification for airdrops as we transition to the mainnet, providing early supporters and testers with initial stakes in the mainnet environment.