The post The Three Layers of LFi and Its Promise to Crypto Users appeared first on Coinpedia Fintech News
Layered Financial Independence (LFi) is a revolutionary decentralized network designed to transform wealth creation. This innovative ecosystem leverages its own blockchain and DAO-driven DeFi platform to facilitate a sustainable and equitable global economy, enabling everyone to pursue a new form of financial freedom and participate in rewards creation.
The mission of LFi is to empower individuals to take control of their wealth by providing them with accessible financial opportunities via a decentralized, transparent, and platform driven by the community. By democratizing access to financial resources, LFi aims to pave the way towards a future of great innovation.
Blockchain and Token
LFi’s first layer comprises a blockchain and token, with LFi serving as the native token. LFi tokens are used to pay for various network services, including sending cryptocurrency, token creation, smart contract execution, and access to ecosystem benefits.
When LFi tokens are used in the network’s vesting protocol, they become vLFi tokens, which are non-transferable. vLFi tokens unlock additional benefits, such as vLFi rewards, Ranking System advantages, and the ability to participate in L-DAO voting.
The LFi Chain is the ecosystem’s in-house blockchain, which will host the native tokens and decentralized applications. Although the tokens and apps will initially launch on the Binance Smart Chain, the plan is to migrate them to the LFi Chain by the end of 2023.
Internet of People and Hardware
The second layer of LFi is dedicated to the Internet of People, a decentralized infrastructure that empowers users to manage their own data. This innovative technology results in a streamlined online experience for users.
In addition, layer 2 includes hardware components, including three distinct types of minting hardware and two types of smartphones. One of the smartphones is called LFi One. It features a robust minting application, enabling users to perform a variety of functions, such as validating transactions, minting tokens, and earning token rewards, in addition to standard communication features like calling, texting, and web browsing.
The third and final layer of LFi is a hub for decentralized applications, including the LFi Software Wallet, decentralized exchange, launchpad, lending protocol, and other applications.
One of the most significant components of this layer is the L-DAO, a decentralized autonomous organization that gives community members complete ownership of the LFi ecosystem. Using the DAO governance system, all community members can vote on amendments that improve the ecosystem’s overall performance. The amount of vLFi tokens a user possesses determines their voting power.
The Goal of LFi
LFi stands by a code, a manifesto, that has been the company’s beacon of light that lead them to where they are now:
“Everyone should have equal opportunities for wealth generation and financial independence.
The time has come to bring a more inclusive financial system to the world, where the control and ownership of assets lie with the people.
We believe in a consensus-driven financial system shaped by the DAO. Transparency, where transactions are publicly verifiable, must prevail and the security and safety of user data are the top priority.
The LFi Ecosystem is an innovative decentralized platform that will continue to grow with you, providing top-notch services.”
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