LowOrbit.Finance quickly earned the popularity of being one of the coolest projects in the crypto space. It is evident from the fact that the project reached its presale hard cap within 15 seconds (300 ETH). Built on Ethereum blockchain, LOCC protocol employs simple yet powerful functions that promise to reward the LOCC token hodlers every 60 mins. Interestingly, LOCC is a deflationary token with a super low supply and stands designed and owned by the community.
The project is in the early stages of development and recently completed a successful Initial Liquidity Offering (ILO) on Unicrypt on May 12, 2021. Currently, the $LOCC tokens are tradable on Uniswap.
Super—interesting Facts about LOCC
Super low supply
The total supply of $LOCC remains fixed to 1000. All 1000 of the minted tokens will remain in circulation. However, out of this total supply, 5% of tokens (50) remain allocated to the team wallet dev funds and another 5% to the marketing growth. The remaining 900 were used in the public presale and added over the Uniswap liquidity (this remains locked for 1 year).
A look at Coinmarketcap reveals that while the maximum supply is 1000, the current total supply is 968 because of the token burns. Basically, that means 32 $LOCC tokens have been burnt till now.
Att: Staking Astronauts!🚀👽
We deployed a new version of the Propulsor Contract. This new version shifts the "burn" of LOCCs from the Token Contract to the Propulsor Contract V2. = Cheaper transfer rates!
Next propulsion is May 14th ~10:00PM UTC!https://t.co/PSODVi3SdA pic.twitter.com/F20gmic11B
— Low Orbit Crypto Cannon (@loworbit_crypto) May 14, 2021
As discussed in the above pointer, $LOCC is a deflationary token. Moreover, this means whenever a transfer occurs on the $LOCC token (over Uniswap or any trade occurring on the ERC-20 asset) 5% of the amount stands burned from the supply.
However, there is a limit of 500 $LOCC burned. Actually, this prevents the supply from going to zero at any given point in time.
- Staking rewardsEach time a transfer occurs on the $LOCC token, over Uniswap or any trade occurs on the ERC-20 asset, another 5% of the amount goes to the Low Orbit Propulsor Contract for pulsation. This is known as pulsation fees.
Interestingly, the innovative pulsation engine starts to power up and starts loading itself with the tokens collected from the pulsation fees. Approximately, after 276 ETH blocks or 60 minutes, this entire pulsation fee collected over time stands rewarded to a $LOCC holder.
However, to earn these rewards, the hodler needs to stake a minimum of 0.055 $LOCC in the Low Orbit Propulsor Contract. Basically, this is the contract that accumulates the fees from pulsation waves. Basically, any hodler with a minimum stake of 0.055 $LOCC can become a part of the next pulsation wave which has an approximate duration of 276 ETH blocks. Furthermore, the contract stands designed to automatically select one of the holders who is then sent into an Orbit and receives the entire generated fees.
You can witness the exciting process of an astronaut launching in space in real-time.
Interestingly, the stunning website visuals depict the propulsion happening in real-time as the entire site begins to shake and the viewer can see an astronaut (the staker) shooting into space.
Good Amount of supply locked
The Uniswap liquidity of $LOCC remains locked for a year. Moreover, this adds to the scarcity of the $LOCC tokens and adds to its value.
60% of the funds raised is locked on Uniswap for LP for 1 year. Proof: https://t.co/ABKPuPSvVW
🗞 Latest News About $LOCC:
Stay tuned for more updates! 🥳
— Low Orbit Crypto Cannon (@loworbit_crypto) May 12, 2021
Audited Ethereum smart contracts
On May 5, 2021, RD Auditors conducted a thorough smart contract code review and security analysis. According to the report, the LOCC’s solidity smart contract is “Well-secured” and no issues were identified during the audit.
Unicrypt KYC verified team
Unicrypt successfully performed the identity verification procedure (KYC) of the team.
What do you need to participate in the next propulsion wave?
To stand a chance to win the entire fees of the next propulsion draw one requires an Ethereum-based wallet like MetaMask. An astronaut (staker) can stake 0.055 LOCC into the propulsion contract. Once this is done, the your MetaMask wallet address will be a part of the contract and from here your wallet address could be selected in a random draw to be sent into an orbit. However, by doing so, your Ethereum wallet automatically becomes a lottery ticket for life.
Q2 Roadmap – 95% Achieved
- Deployed the Low Orbit Propulsor Contract. This now collects fees from every transfer on the $LOCC token and at the end of the wave selects an astronaut and rewards him with the entire fees.
- Deployed the Low Orbit Crypto Cannon Token on the Ethereum Network. $LOCC is an ERC20 token that has a max supply of 1000 $LOCC.
- Launched the LOCC Token Presale on Unicrypt Launchpad.
- Listing over Coinmarketcap. Coingecko and Blockfolio listing is awaited.
- Open-source release of smart contract code on Github
- Low Orbit Crypto Canon Contract audit completed
- Listing of ERC-20 token over Centralized exchanges
- DAO Platform for Governance.
- Coding and deploying a $LOCC DAPP. This will monitor the collected fees, the burn states and other deflationary supply stats.
- Provide stakers a mobile phone app where they can follow up on $LOCC propulsions.
- Burning 50% $LOCC tokens
- Adding community incentives
- Work on community feedback.
- Burning the 50% left $LOCC tokens.
- Apply for Tier 1 exchange listing
$LOCC Token Price
At the time of press, the $LOCC token is trading close to $1,147 and the total market cap is over $1.14 million. The super supply, low market cap, and deflationary nature add immensely to the scarcity of the token. This makes $LOCC a token worth keeping an eye on. Find out more about this project here.