Tiamonds: What is it?
A project by LCX, Tiamonds aims to educate consumers about tokenization, create a community-driven token economy, and showcase the benefits of tokenized assets. LCX is a regulated fintech company, registered as a compliant trusted technology service provider and is conducting the token offering in accordance with the innovative Liechtenstein blockchain laws.
In Tiamonds, two key elements are combined: Tokenized Diamonds called Tiamonds and a deflationary cryptocurrency TIA Token. Tiamonds are non-fungible tokens (NFTs) that represent the ownership rights to diamonds in the real world. Gemstones such as diamonds are known for their beauty and being the hardest material on Earth. TIA Tokens are delivered to each Tiamond as a reward through the “Own to Earn” program.
What makes it unique?
TIA Tokens are fair-launched and community-driven DeFi tokens. With time, the supply of TIA Tokens decreases, making them a deflationary cryptocurrency. In TIA Tokens, there are three simple functions: Rebalancing, Reflection, and Burning.
An automatic 10% fee is taken for every on-chain transaction and divided into three categories:
- Reflection. Each time a buy/transfer/sell is made, 5% of the fees are distributed to all current holders;
- Rebalancing. Every transaction at Uniswap is automatically charged a 2.5% fee. LCX will add the acquired LCX Token to its long-term reserves;
- Burn. TIA Tokens are automatically burned in the amount of 2.5%.
Benefits of Tiamonds
Tiamonds are digital representations of individual diamonds based on the Ethereum blockchain and the ERC721 Non-Fungible Token standard.
Tokenized diamonds have the following benefits:
- An asset-backed investment. Tokenized diamonds are backed one-to-one by real diamonds.
- NFTs such as tokenized diamonds can be traded and redeemed.
- Time-based TIA Token rewards.
As a non-fungible crypto asset, Tiamonds embraces its lack of fungibility. The ERC721 standard now allows Tiamonds to be traded on any crypto exchange in the world. The Tiamond is as easy to buy and sell as the CryptoKitty. By the way, it’s coming soon to the P2PB2B exchange.
Interested in this project? Join the community and subscribe to the social media:
- Website: tiamonds.com/
- Telegram: t.me/JoinLCX
- Twitter: twitter.com/tiamonds
