Web3 is a new iteration of the World Wide Web based on blockchain technology, which incorporates decentralization and token-based economics. Lingo has seized the opportunity offered by Web3 to create an inclusive ecosystem based on the Token economy model.
In order to ensure smooth dissemination and use of tokens, Lingo has chosen the Polygon blockchain which enables it to build a scalable, user-friendly platform with low transaction fees without ever sacrificing the security. Moreover, the Polygon blockchain is Ethereum Virtual Machine (EVM) compatible, which allows Lingo token holders to achieve interoperability with Ethereum-based blockchains to accelerate the adoption of Lingo’s solution.
Allocation of Lingo tokens will be made to ensure the good expansion of Lingo’s ecosystem according to the following breakdown.
Figure 10 - Lingo Token Allocation
It will be mainly allocated as seed money to develop the Lingo ecosystem as quickly as possible. In addition, they will be used for the marketing promotion of the Token sale campaign and brand awareness.
Private investors will be allowed to unlock their tokens 18 months after the listing date of Lingo tokens, and the mechanism involved is implemented in the Token smart contract to guarantee it.
The ITO (Initial Token Offering) is scheduled to take place immediately after the private sale. We aim to build a highly engaged and sustainable community to ensure that we fulfill Lingo’s vision. The community will play a key role in our international strategy.
Effective brand ambassadors lead to increased loyalty, engagement, and advocacy. Ambassadors will be allowed to unlock their Lingo tokens after a two-year cliff.
This allocation aims to ensure widespread token distribution and stimulate trading activities. The Initial Exchange Offering (IEO) will provide an immediate trading platform for Lingo tokens. Tokens allocated for the IEO will be immediately available for trading.
Team members will receive dedicated tokens not earlier than a one-year cliff after the ending date, following the completion of the Lingo Token listing, and for a total of three years of vesting.