What is LocalUSD?
Learn how to use local currency of the DeFi Lab.
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Learn how to use local currency of the DeFi Lab.
Last updated
Was this helpful?
During the Token Sale, specifically Rounds A and B, we intend to incentivize the use of the DeFi Lab products. Specifically for this cause, we've created LocalUSD.
LocalUSD is a BEP-20 utility token, created as DeFi Lab's internal currency. LocalUSD is a stablecoin, pegged 1:1 to BUSD, meaning that each issued LocalUSD is backed with 1 BUSD or another collateral asset.
LocalUSD is only utilized as a method of initial investment for DeFi Lab products, all profits from DeFi investments will be paid out in BUSD.
Token Contract Address:
Users can acquire LocalUSD by purchasing tokens during Round A and Round B of the Token Sale. It can be acquired through the token package deals, with which we incentivize users to invest in DeFi Lab products.
80% of invested funds will be distributed as LTT tokens that will automatically be staked in order to generate APY through the Stakers Rewards program;
20% of the funds invested will be distributed as LocalUSD, available for use in DeFi Lab products;
Example: An investor spends $100 to purchase LocalTrade tokens during Round A, at a $0.1 price. According to the distribution model, he’ll get 800 LTTs to his wallet and 20 LocalUSD to invest into DeFi Lab products.
Current use-cases for LocalUSD include investments into the DeFi Lab products. Users can choose any of the products available on the platform and invest using previously purchased LocalUSD tokens.
For example: the user has invested $1000 in LTT during Round A. According to the Token distribution, he'll get 8000 LTT and 200 LocalUSD. While LTT tokens will remain staked, the user can choose, where to invest his LocalUSD at DeFi Lab:
Liquidity Pools at Yield Farming Protocol;
Token Sales at the ICO Investpool.
Note: The list of available use cases is subject to updates.