Introduction
Lira is one of the fastest-growing newly launched cryptocurrencies in the blockchain market. The Lira has been launched on a total of eleven different platforms – Ethereum Chain, Binance Smart Chain, Cronos Chain, Polygon Chain, Avalanche C-Chain, Fantom Chain, Solana Chain, Tron Chain, Waves Chain, Terra 2.0 and Terra Classic Chain.
Everything is done through direct intervention, averting the possibility of minting or burning from pegs that can cause problems in unstable markets, bearing in mind that crypto is already very volatile in itself.
Concept
The concept behind LIRA is to provide an innovative solution for crypto mining, farming for rewards, and liquidity provisioning. LIRA aims to tackle the challenge in the area of crypto mining as they offer an alternative to mining equipment. Instead of using equipment for mining which is harmful to the environment, investors can acquire rewards that produce tokens inside liquidity pools.
Smart contracts
Another issue is with the liquidity of tokens on decentralized exchange platforms. Token holders need to be given incentives to contribute to the liquidation pool on such platforms. With LIRA, the liquidity pool is accumulated independent of investors with a scheduled buyback and burn, plus minting only in presence of the right liquidity pairing.
The smart contract also let burn tokens, promoting scarcity which leads to greater value. In this way, the token’s value becomes dependent on its volume, leading to more people investing and using the LIRA token.
