Japanese Messaging Giant LINE Corporation has announced the launch of its LINK (LN) token, exclusively available on the company’s native exchange, BITBOX. LINK can be traded for Bitcoin, Ethereum and Tether.
In an effort to boost interest in the coin, LINE reports that BITBOX will be offering various airdrop events for LINK token holders. LINK will be used to support LINE’s developing token economy through the use of in-dApp purchases and trading.
“The official launch of LINK trading on BITBOX marks a significant milestone in the implementation of LINE’s token economy, expanding LINK’s usefulness and integration into the wider digital token community,” reads today’s press release.
LINK Airdrop Events on BITBOX
BITBOX is planning to hold a number of special airdrop events to celebrate the launch of LINK trading. In the first event, LINK holders will be receiving TRON (TRX) tokens based on the amount of their LINK holdings, with TRON holders conversely being airdropped LINK. There are also plans for a LINK reward event that will run through the rest of October. Future events, like discounts on LINK used to pay trading fees, are to be expected.
“We’re very pleased that users are now able to trade LINK on BITBOX, which is a major step forward in our plans for creating a token economy that rewards user participation,” said LINE CEO Takeshi Idezawa. “We think it is important to promote co-creation and mutual growth with LINK, while ensuring BITBOX continues to develop as a user-friendly platform that adds value to those who use it and contribute to our services.”
There will be a total of 1 billion LINK tokens gradually issues based on how the token’s ecosystem develops. 800 million LINK will be issued as user rewards, with the token’s Singapore-based issuer LINE Tech Plus holding the remaining 200 million tokens in reserves. The tokens will be issued free of charge as a reward for service contributors.
LINK can be used to pay for music, video, as well as for other commercial purchases. Additional uses include discount benefits, payback and in-app payment systems, and wire transfers between individuals. Finally, token holders will also be able to use LINK for in-game trading and character unlockables.
LINK can now be used for commission payments on BITBOX exchange, and those who use LINK can expect fee discounts for cryptocurrency trading.
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