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#LTX DEVELOPER NEWS DESK — 2023-05-16

May Update for $veLTX holders


News from the LTX Coin Development team on May 16, 2023

We are thrilled to announce a new reward opportunity for our loyal $veLTX holders. As part of our ongoing commitment to provide value to our community, we have decided to share the fees collected from Exolix swaps with our $veLTX holders. The Exolix fee sharing will start retroactively for the month of May.

About Exolix:

Exolix is a third-party company that offers a secure, anonymous, and fast cryptocurrency exchange service. Exolix’s API has been integrated into our website and the Stargazer Wallet to provide users with an interface where they can easily swap cryptocurrencies.

The aim is to reward $veLTX holders with the fees collected from Exolix swaps made on both our main site, Lattice.is and through Stargazer Wallet. This new form of rewards adds to the existing Lattice Governance rewards, further enhancing the benefits of holding $veLTX tokens.

How It Works:

  1. Users perform token swaps using the Exolix integration.
  2. A fee is collected for each swap.
  3. The fees collected will be distributed to $veLTX holders as rewards based on their activity within our ecosystem.
Note: Rewards will be distributed in the form of $LTX which will be acquired from the open market with the fees collected by Exolix.

Exolix swap fees can be distributed on a quarterly, semi-annual, or annual basis, with the primary aim of minimizing claiming fees. To determine the distribution timeframe, a governance proposal will be made available to the Lattice Gateway community. Additionally, we will provide transparent information on the monthly accumulation and purchase of $LTX on the Lattice Gateway platform.

We are thrilled to share that all the fees collected will be distributed among $veLTX holders, ensuring that 100% of the fees benefit the token holders. Stay tuned for more information on the reward distribution mechanism and schedule.

We are always looking for ways to create more value for our community, and we believe that sharing Exolix swap fees with our $veLTX holders is a step in the right direction. We encourage all users to take advantage of this new reward opportunity and continue supporting the Lattice ecosystem.

Disclaimer: $LTX’s primary purpose is to serve as a utility for the Lattice ecosystem, allowing holders to access features and participate in community governance.

$BioFi airdrop update

After careful consideration and in-depth discussions with the Finnovant team regarding their metagraph, we have jointly decided to postpone the upcoming $BioFi airdrop. We have determined that rescheduling the airdrop to a later date will be advantageous for all parties involved.

We will keep you updated on any further developments and notify you as soon as we have more information about the revised $BioFi airdrop timeline.

Don’t Miss Out on Our Ongoing Competition!

As a reminder, we also have an ongoing competition with amazing prizes up for grabs:

  • $12,000 worth of DAG total in prizes
  • $5,000 grand prize
  • Hundreds of weekly special prizes

Join the competition today and get a chance to win exciting rewards!

Click here to participate!



Source     #LTX Price


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