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LINE’s cryptocurrency LINK now available exclusively on BITBOX

LINE's cryptocurrency LINK now available exclusively on BITBOX

LINE Corporation, the Japanese company, and ecosystem that includes AI technology, fintech and more announced today that its digital token LINK (LN) is now exclusively available to trade on its recently launched digital asset exchange BITBOX.

LINK can now be traded on BITBOX with three major digital tokens: Bitcoin (BTC), Ethereum (ETH) and Tether (USDT). The official launch of LINK trading on BITBOX marks a significant milestone in the implementation of LINE’s token economy, expanding LINK’s usefulness and integration into the wider digital token community.

“We’re very pleased that users are now able to trade LINK on BITBOX, which is a major step forward in our plans for creating a token economy that rewards user participation. We think it is important to promote co-creation and mutual growth with LINK, while ensuring BITBOX continues to develop as a user-friendly platform that adds value to those who use it and contribute to our services.”

LINE CEO Takeshi Idezawa

Special limited events, including airdrops of TRON (TRX)

To celebrate the launch of LINK trading, BITBOX will hold several special airdrop events. The first event involves TRON (TRX), with LINK holders receiving TRON based on the amount of their LINK holdings, and TRON depositors and traders receiving airdrops of LINK.

BITBOX is also carrying out a LINK reward event throughout October for trades and net deposits depending on the trading pairs. And in the future BITBOX plans to add more events including discounts on LINK used to pay trading fees.

Adding ways for users to contribute to the token ecosystem

As a key part of LINE’s token economy is user contributions and participation, LINE plans to expand both online and offline channels where users can get rewarded and pay with LINK, including LINE’s diverse dApps in areas such as social, gaming and commerce.

Already LINK traded or acquired from BITBOX can be also be used as payments or rewards for LINE’s dApp services Wizball (a knowledge sharing platform) and 4CAST (a future prediction service). And in the coming months, LINE will also launch the dApps TAPAS (food reviews), Pasha (product reviews) and STEP (location reviews), expanding the ways users can get involved and earn LINK.

Note: As LINK will be traded on BITBOX, its market value will vary. However, the minimum floor value of LINK will be USD 5 when used to pay trading fees on BITBOX.

LINK Overview

  • Definition: Cryptocurrency (or digital token) for use within the LINE ecosystem
  • Official website: link.network
  • Name: LINK (or “LINK Point” in Japan)
  • Issuer: LINE Tech Plus (based in Singapore)
  • Total amount issued: 1 billion (user rewards 800 million; LINE Tech Plus reserves 200 million), to be gradually issued based on how the ecosystem develops
  • Issuing method: Issued free of charge as a reward for service contributors
  • Units: The basic unit is the LINK, and the smallest unit is the cony (1,000,000 cony = 1 LINK)
  • Types of LINK usage by service category:
  1. Content: Payment for music, videos, and webtoons
  2. Commerce: Payment for products/services, discount benefits, and payback
  3. Social: In-app payment systems and wire transfers between individuals
  4. Gaming: In-game trading and character improvements
  5. Exchange: Payment of commissions, fee discounts and cryptocurrency trading at BITBOX

BITBOX Overview

  • Service type: Cryptocurrency-to-cryptocurrency exchange (no fiat currency trading available)
  • Opened: July 16, 2018
  • Available regions: Global (except Japan and the United States)
  • Available languages: 15 (including English, Korean, and Chinese)
  • Coins traded: Around 30 (including BTC, ETH, BCH, and LTC)
Source:LINE

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