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The Liberdus payment network is the first applications of Shardus technology. The payment network will have it's own coin called Liberdus Coin (LC).
- When the Shardus software is completed, it will be forked and the application layer will be modified to create the Liberdus software.
- Once the Liberdus software is released, the Liberdus peer-to-peer network is created by people around the world running the Liberdus software.
- Each node in the Liberdus network is given a fixed amount of LC on a daily basis for participating in the network.
- The coins on the Liberdus network serve the function of a cryptocurrency. They also provide the utility of User-Activated Software Forks (UASF).
- Each node in the Liberdus network will need to hold a fixed amount of LC in a bond account in order to participate in the network. The amount held in the bond account is at risk of being lost if the node misbehaves. The bond amount can be adjusted by the community via UASF.
- A fixed amount of LC is also given to a maintenance fund on a daily basis.
- The holders of ST tokens will be able to obtain an equivalent amount of LC once the Liberdus network is launched.
- There is a 0% transaction fee initially on all transactions. However, the transaction fee rate can be adjusted by the community via UASF. For example the community can choose a 0.01% transaction fee on transactions. This amounts to a fee of $0.01 for a $100 transaction. The transaction fees are burned rather than given to miners. Thus, the transaction fees (if chosen by the community) can be used to reduce the coin supply to benefit all users and not just the miners.
- The amount given to nodes, the amount given to the maintenance fund, the node bond and the transaction fee are economic parameters that can be changed by the community via UASF every 3 months, if needed.
- UASF outcome is determined by amount sent to the option addresses. The amounts sent to option addresses are burned after the software fork is activated.
- The total supply of LC is not fixed and can gradually fluctuate based on what the community chooses for the miner rewards and transaction fees. The LC supply will initially be close to the ST supply when the Liberdus network is launched.
- Other projects which fork the Liberdus software will need to give at least 1% of the new project coin to LC holders in addition to meeting the licensing requirements for Shardus. Doing so will also help the new project gain an immediate community of users.
See Shardus Token.