Lightening Cash: The first Privacy Protection Asset Transfer Protocol on Binance Smart Chain
Nowadays, if any individuals or parties recognize your address on Binance Smart Chain, they can find out all transactions or even your balance through block explorers such as BSCscan. This enables them to analyze your wallet addresses, track your transactions, your fund flow, or any on-chain activities.
The fact of the matter is that users on Binance Smart Chain have few options for their information privacy. This has inspired us to develop Lightening Cash, a protocol allowing you to send coins/tokens anonymously without being tracked by others.
Lightening Cash is a protocol built on Binance Smart Chain using Zero-Knowledge proof in order to provide users with privacy on their blockchain-based transactions. Zero-knowledge proofs protect user privacy with a cryptographic layer that allows data to be shared between parties without disclosing the actual data itself. It’s the same technology that Zcash uses to ensure privacy.
Our vision is to develop on multi-chain, however, BSC- Binance Smart Chain is our first deployment for Lightening Cash protocol because it is fast, secure, and scalable. Furthermore, Binance Smart Chain is EVM compatible, providing a bridge to connect DeFi from Ethereum to Binance Smart Chain. Theoretically, it is easy to help developers on Ethereum to interact with Binance Smart Chain.
LIC Token overview
LIC Token is the Utility Token of Lightening Cash, LIC holders have voting rights for the development of protocol. Furthermore, LIC holders can use LIC to farm and stake LIC. In return, farmers and Stakers earn LIC tokens as rewards.
The total supply of LIC tokens is capped at 50M. As you can see, Lightening Cash is built to be a long-term sustainable protocol fully dedicated to the community with an Ultra Fair Launch and without presale.
Farming (rewards): 35%
Ecosystem Reserve: 15%
Marketing & Partnership: 15%
Community program and Airdrop: 12%
Pancake Liquidity: 5%
Token release schedule as following below:
That is the general overview of the LIC token, the Utility Token of Lightening Cash. Next, we will cover the Incentives Mechanism of the LIC token in detail.
Wait, it is only a fork of Tornado cash on Binance smart chain?
Nope, we are doing it better!
The token sale is one of the typical approaches for a forked project. After this event, the project team usually launches the farming scheme with high inflation and high APY.
Of course, there are some good points about that approach, which helps attract users immediately. If those projects work well with their roadmap and their innovation, they have a chance to earn double the number of users in a couple of weeks as well as corresponding profit.
However, it also has some drawbacks.
In these models, holders can contribute to the protocol to earn more rewards from the project, but this usually leads to a negative relationship in the long run. Short term holders will join in on the farming scheme early to earn high apy rewards, and then create excessive sell pressure as the project tries to continue to develop.
These short term holders are not concerned with the projects nor their innovative system upgrades. The only thing they are interested in is farming & token price.
Once the farming program is not as good as they expected or attracts more users and in turn reduces overall apy, these short term holders gradually remove liquidity and sell out all tokens they own. Inevitably, this drives the whole system deep into a long-term negative growth status.
Honestly, nobody expects or wants those things to happen. That is why Lightening Cash’s Farming protocol was created to Incentivise holders to provide long term support of our privacy protection protocols. Our unique incentive protocol provides excellent rewards while also promoting long-term growth and project development over time.
Users of our protocol will receive corresponding incentives, and those incentives will increase chronologically. The sooner users participate and the longer they hold, the more incentives they will earn. This design promotes continued community growth and trust.
With Lightening Cash, Community is the core!
More Info at Our website: https://lightening.cash/
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