LYO Credit (LYO) is the utility token of the ecosystem applications.
LYO is based on the BNB Chain protocol powered by Binance. The BEP-20 smart contract allows BSC to facilitate transactions and record balances of such credits in an account. The benefits of using the BEP-20 protocol include the following:
- The simple, easy-to-understand BEP-20 standard reduces the complexity associated with studying and understanding other types of blockchains for implementations like the LYO Ecosystem.
- The BEP-20 standard enhances the liquidity of other BEP-20 tokens and reduces the risk of broken contracts.
- BEP-20 is a uniformity of tech and protocol standards for everyone to use. Hence, it is widely acceptable and extremely reliable.
Aside from trading, transactions, and staking, LYO also functions as a utility to reward users for successfully completing tasks, such as KYC verification.
We burn all tokens from the old Smart Contract during the migration.(0x9d0bbff00a3961455ccb87e43596c7e846e57e7a).
Following that, a whopping 250,000,000 LYO were minted and dispersed to various wallets based on LYO Credit Tokenomics. This development will result in a significant increase in the LYO Credit Token's transaction volume, as well as an increase in the number of users who utilize it.
The BNB Chain standard improves the token's liquidity and lowers the danger of contracts being breached. BNB Chain meets technical and protocol standards, is widely accepted, and is extremely dependable. LYO is powered by BNB Chain to better serve you as your financial instrument.