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What currency is LPT? What does LPT coin mean?

LPT coin, the native token of Livepeer's decentralized video streaming protocol, allows holders to govern the network's development and earn rewards for supporting its security.

Oct 12, 2024 at 11:12 am

What is LPT Currency?

1. Definition
LPT is the native token of the Livepeer network, a decentralized video streaming protocol. It is a governance token that allows holders to participate in the decision-making process of the protocol's development and operations.

2. Functionality
LPT coin has the following key functionalities:

a. Governance: LPT holders can vote on proposals affecting the protocol, such as feature updates, network parameters, and funding allocation.

b. Staking: LPT holders can stake their tokens to earn rewards for supporting the network's security and contributing to its decentralization.

c. Protocol Participation: Developers can integrate LPT into their applications to enable decentralized video streaming services and earn rewards for participating in the ecosystem.

3. LPT Coin Specifications

Token Symbol: LPT
Blockchain: Ethereum
Token Standard: ERC-20
Circulating Supply: 22,156,235 LPT (as of July 2023)
Total Supply: 23,505,371 LPT

4. Use Cases

LPT coin can be used for the following:

Governance: Participate in the decision-making process of the Livepeer network.
Staking: Earn rewards for supporting the network's security and decentralization.
Payments: Use LPT to pay transaction fees on the Livepeer network.
Integrations: Integrate LPT into applications that leverage the Livepeer protocol for decentralized video streaming.

5. Value Proposition

The value proposition of LPT coin lies in its utility as a governance token for a rapidly growing decentralized video streaming network. By holding and staking LPT, users can participate in shaping the future of the protocol and contribute to its development and adoption.

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