Lightning — a new Era
Introducing the rebranding of Lightning.
We have onboarded a Designer who worked for Google among other major clients for a long time to handle our rebranding, storytelling and designs. To go along with that, our entire website will be getting a complete overhaul and everything will be rebranded from the ground up. You can expect the final rebranded website to launch in 1–2 weeks with regular teasers in between.
The refined Whitepaper for Lightning will also be finished in that period.
Applications for the Lightning Incubator will open once the rebranded Website is live. IDOs will open shortly thereafter so be prepared for some eventful weeks.
Lightning Wallet Distribution & Token Burn Event
To ensure transparency and secure investors confidence, we will be distributing the project funds across multiple wallets and also label these wallets. This distribution will take place somewhere in the next 24–72h but it will not be disclosed when exactly it will take place. This is to avoid manipulation of prices and fees during the process.
The distribution process will likely burn > $300,000 worth of $LIGHT and might trigger a full rebase, which will be worth over > $190,000 in $LIGHT distributed to holders.
Furthermore, 5 million tokens will be timelocked for multiple months, these funds are mainly comprised of Team Tokens. The remaining Tokens will be distributed across labelled wallets, among them will be Marketing/Listings, Development/Salaries, Administration Costs, and Contract based payments.
Conclusion
The choice to distribute these Tokens was made despite the enormous $ value burn that will take place. We are doing this to push the cycles forward, allow for more transparency of project funds and secure confidence of investors in this project. Lightning is a long-term project and was intended as such from the start, therefore we decided to take this step.
Investors will benefit from this through the large burn and cycle progression and also through more transparency of funds and more security through 5 million timelocked tokens.