There are two essential components of the Tiamonds project: Tiamond, a tokenized diamond, and the TIA Token, a deflationary cryptocurrency. A deflationary utility token, such as a TIA token, is a user token that grants future access to a company’s products or services while incentivizing holders. The most popular token type is the utility token, which functions differently from security tokens. Characteristics of a Deflationary Utility Token In its capacity as a Token Generator, LCX is responsible for setting up appropriate internal controls to ensure compliance with all legal aspects defined in the “Blockchain Act” during the issuance of tokens and for at least ten years after the tokens have been issued. Token generators fall under this category. A number of critical roles are outlined in the law along the value chain of the token economy. The Token and Trusted Technology Service Provider Act (TVTG) has been passed by the Liechtenstein parliament, also known as the “Blockchain Act.” According to this act, the FMA is responsible for registering and supervising service providers that use trusted technology (TT) systems such as blockchain. LCX AG is a Liechtenstein-based company regulated by the Financial Market Authority of Liechtenstein as a trusted technology provider.
#Sell iconomy token generator#
LCX serves as the exclusive token generator for Tiamonds. The official smart contract address is 0x824E35f7A75324f99300aFAC75ECF7354E17Ea26 and can be viewed at Etherscan. The TIA Token smart contract has been deployed on the Ethereum blockchain. Accordingly, the token’s circulating supply declines over time. Deflationary utility tokens are tokens designed to incentivize holders, and they are programmed to reduce supply over time.
The asset is a blockchain-based asset that people buy with the intention of using it in the future. Utility tokens are financial instruments used primarily for raising funds.
The TIA Token is designed to become scarcer over time. The TIA Token is a community-first and fairly launched DeFi Token. The TIA Token is a deflationary utility token by design. LCX developed, created, and deployed the TIA Token for Tiamonds. LCX acts as the issuer of the $TIA token.
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