Certificates System
Last updated
Last updated
The LINQ LocQer uses a novel ERC-721 & ERC-20 fusion of concepts to create a token output system keyed to either a Virtual Share or a Token Share within a NFT.
This system directly changes the mechanism by which staking or vesting concept recieve the payouts.
Traditionally distribution systems always point to a specific owner wallet or set of wallets.
Our technology fundamentally changes this mechanism to a tradeable certificate that represents the outputs on behalf of the owner, opening up new flexibility and profit making opportunities not yet seen in crypto.
A Token Shares Certificate is defined by a LocQer Owner requiring a Token stake to be deposited to earn yield from the rewards pool.
The more tokens deposited the more pool ownership a staker recieves.
These staked tokens are assigned to the Certificate, and if traded, transfered, split, or aggregated the certificate itself is what contains the tokens, not the owner wallet.
For the first time in crypto a holder can stake into a long term lock pool, and if they desire sell their staked token certificate to someone else, transferring not only the earnable yield, but the underlying deposit as well.
For example.
Bruce stakes $20,000 of $LINQ into our LocQer system locking his tokens for 15 days. The Deposited LINQ earns WETH and LINQ LP, accumulating claimable value from the staked position. He can claim these rewards whenever he wants from the application.
He decides 5 days in that he would like to take a small profit on the position. Instead of having to wait out the remaining 10 days to unlock, he goes to the LocQer application, splits off 10% of his original certificate into a newly created one and lists the new one on Opensea for $2,000, retaining his 90% holdings in his wallet.
A buyer sees this opportunity to acquire the staked $LINQ tokens for $2,000 as he wants to get the discount of not having to pay price impact, or buying tax and takes the listing offer from Bruce. Bruce now has $2,000 in his wallet, the 10% certificate has transfered to the new buyer, and they have the certificate in their full control to do with as they want.
The LINQ LocQer is not limited to only having staking to earn output claims. By default the system also includes a Shares system that assigns a numerial value of weighted outputs to a certificate.
For example the developer of LAMA Labs has opted to bring in 2 new partner firms to assist in development efforts. As part of the agreement the LAMA developer opens up a LINQ LocQer and mints 2 certificates, each with 100 shares total. He sets the vesting output to be a All at Once emission which means the claimable tokens will be available at the end of the locking cycle. He could have also chosen to do a Progressive distribution which is a block by block claimable balance increase.
He then airdrops these shares to the two partners being onboarded and initiates the locking cycle. The LocQer has now been coded to have a token lock of the $LAMA tokens to be distributed to 200 outstanding shares.
The partner firms have a few choices from here such as splitting the certificates if they wish, or retaining them until the unlock period for the claim. They could also if desired list and sell these vesting certificates on the open market, passing the vesting rights to a new owner. Our solution is flexible and is designed as a platform for usage with any ERC-20 token project. To show off some examples to inspire knowledge here are a few sample concepts below.
