LowSea Leasing Node update (1st of December 2021)
A few days late and oh boy the market is looking red. But… work continues. Here is a quick LTO update.
These last two weeks were all about the NFT2.0 approach. LTO’s next roadmap has been revealed. Rick and Arnold are inviting people along for the ride with this new tech that pulls NFTs into a completely decentralized form. We’ll see a litepaper about the tech part this month, but the roadmap video and blog already give a bit of information:
Video: https://www.youtube.com/watch?v=ihDRtjVgtMY
Blog: https://blog.ltonetwork.com/roadmap2022/
So, what do we know of NFT2.0 so far? Well Arnold goes a bit more in depth in a recent blog.
Where NFTs currently are often stored centralized, LTO’s NFT2.0 will bring true ownership of the NFT with the ability to store it where you want, while still having the ability to be sold on marketplaces, it will enable NFTs to become much more, especially with smartcontracts build INTO the NFTs.
NFT2.0 are minted in your wallet, rather than on a blockchain. The LTO public chain is used for anchoring (using the new claims tx), which prevents double spending. To trade, you’ll bridge the NFT2.0, minting a regular NFT on another blockchain. The new owner can burn the regular NFT to obtain the NFT2.0 in their wallet. — Arnold’s Quote from reddit.
This has the potential to bring a whole different structure to NFTs, something that will become clearer over the next 6 months as example use cases pop up, demos are shown, etc.
LTO Network was also nominated for the Dutch Blockchain Awards 2021.
The voting has now halted, and our community did its best to help LTO to the top. We’ll know soon if we were successful.
We’ve reached 20.000 followers on Twitter and 6000 followers on Reddit.
The casino use case got another teaser. We still don’t know precisely the scope of this KYC on chain project. Maybe we’ll get it in December, or else January. The casino looks hella fancy though.
LTO’s Liquidity Farm for UNISWAP finalized its swap to the new smart contract. This means that people providing liquidity on uniswap for LTO can now support v2 token pool. Which is pretty smart as 95% of the farm rewards are actually focused on the v2 LTO token variant and only 5% on the v1 version. This is all to stimulate people moving over to the v2 LTO ERC20 token variant.
Speaking of v2 LTO smart contract support. Binance finally announced that they will support the new contract from the 6th of December forward (so today).🥳🥳 This is great and should get a lot of exchanges switched over to the new contract and with it open the door to new/better liquidity opportunities (and no, you may NOT ask how I know this).
Let’s close this overview with a cool NFT2.0 focused sponsorship: https://blog.ltonetwork.com/nft_sponsorship_f2/ “LTO Network and FIA Formula 2 Driver Ralph Boschung Lead Motorsports into the Metaverse Using NFT2.0 Technology.”
It will take a while to pull together, but to see Ralph ride around with LTO Network on the front wings of his care is awesome already. Not to mention he won his first podium place in the first race that had LTO on his wings. Coincidence? I think not!
That’s it for this week. Remember, adoption continues even if the market is red. Come talk to the team if you are looking to build on LTO or wish to join/help the community. More things to come and may the growth continue!
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Come stake your coins at the LowSea Leasing node on LTO Mainnet. Just follow these easy steps: https://cryptonarf.medium.com/welcome-to-lowsea-leasing-9161fb28a19a
Staking is now also ledger supported on LTO Mainnet!
