Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
Limcore is designed as a DeFi farming platform with data centers created for Chia and forks mining
The Decentralized Finance (DeFi) ecosystem is growing at a very fast pace with a notable shift from traditional finance. For the first time, the DeFi world has lowered the barriers to entry for every investor, and with what the space has to offer, it is not uncommon to find uncertified investors commit their funds into the DeFi ecosystem in hopes of getting returns.
The Decentralized Finance ecosystem is still under active development, and technically, most people who invest in this space are often tasked with navigating the complexities in the space alone. This seems daunting and has kept a lot of potential DeFi users out of the ecosystem.
Participating in DeFi does not have to be complicated and innovative protocols like Limecore are making that happen. Limcore is a blockchain protocol that pays holders of its native token, $LIMC, an interest just for holding the coin. By design, Limcore is designed as a DeFi farming platform with data centers created for Chia and forks mining, as well as TON and Ethereum 2.0 validations. The interest from these engagements serves as the revenue source for the holders of the LIMC tokens.
Differences Between Limcore, Banks Deposits, Cloud/Individual Cloud Mining
The entire idea about decentralized finance is to proffer a better solution to what the banking institutions have to offer. There are marked differences between Limcore and Bank deposits, as well as between Limcore and cloud mining or individual minings, both of whom form some of the most prevalent ways investors in the crypto ecosystem make money.
While Bank deposits are controlled by financial institutions which take away the freedom investors get, investing in Limcore is 100% controlled by the investor with no strings attached. Bank deposits pay so little, and rates are just being lifted off from 0% as the US Federal Reserve changed the rates to 0.25% a few days ago, investing in Limcore offers a higher than expected rate, far better than what traditional banking can ever offer.
Bank deposits charge a lot of fees, especially if an investor tries to pull out of an investment before the due date. For Limcore, investors completely own the dividends and can decide to back out at any time without hidden charges.
For individual mining, the cost of setting up a rig will always be somewhat higher than what the average investor can afford. The cost of management, upgrades, and security may also make managing an individual mining an arduous task. The case is different when it comes to Limcore as all the management is handled by the platform, and investors just have to buy the token, hold and reap their rewards.
The risks that come with illegal cloud mining which could pack up at any time is what differentiates it when it comes to Limcore which is more engrafted and backed by advanced technologies and data centers across Europe.
Potential Profitability Limcore Offers and Tokenomics
Limcore offers returns that grow exponentially over a period of time. Holding the LIMC tokens for a day gives a return of 0.03%. This grows to 0.19% in 7-days, and 0.81% when held for a period of 30 days. Based on the model with which the protocol’s revenue return was designed, holding LIMC for a year gives a 9.87% return while holding it for approximately 1095 days pays out a 29.61% return.
This is a far better deal, considering the fact that this investment is almost risk-free, and holders of the token will still benefit from the growth of the LIMC tokens over time. The tokenomics of the platform is sustainable enough to support the payout model it boasts of.
The Limcore DeFi platform has an active space volume of 4598 Terabytes with 644.1 LIMC owners with a lockup contract on the platform. The combination of these metrics gives an emission rate of 6,000 LIMC tokens. Atop every mining venture, a 15% commission is charged by the platform with 85% shared to the LIMC token holders.
Of the charged commission, 35% is spent on token buyback for validation, marketing takes 20%, equipment purchase takes 35%, and the team takes 10%.
Getting Started: How to Buy LIMC Token
To become a part of the Limcore mining platform, users will need to buy and lock up their LIMC tokens. Here is the simple process of buying LIMC tokens directly from the Limcore platform.
Step 1: Navigate to the Limcore.io webpage and look for and click the yellow “Buy LIMC” button.
Step 2: You will see a Windows interface with a prompt to connect your wallet.
Click on this icon to reveal the WalletConnect/Metamask gateway which looks like the image below;
When you click on the WalletConnect icon, a QR Code is shown.
Step 3: Open your non-custodial wallet like Trust Wallet or Metamask and click on WalletConnect. Use the camera pop-up to scan the QR Code displayed on the Limcore DeFi platform. Follow the prompts to complete the connection process.
Step 4: After your wallet is connected, you will be able to input the amount of LIMC token you want to buy by using the swap tool. The interface is as shown as it is in the image below. For this example, a $1,000 worth of Limcore was imputed for reference purpose.
Approved the transaction when prompted and completed the purchase.
It should be noted that mining contracts can be purchased from HitBTC and access to the mining commences immediately using this option. The direct purchase on the Limcore DeFi platform comes with a 3-months lock-up, after which mining commences after 60 calendar days from the day of purchase.
Bonus Levels on Offer by the Limcore DeFi Platform
With Limcore, investors are rewarded for participating or investing in the platform through a bonus system. Holders of 0-29 LIMC tokens are classified as Newbie Level and are not entitled to any bonuses.
Holders of 30 – 99 LIMC tokens are at a Beginner Level and they enjoy a bonus of +2% lock-up tokens with every purchase. Chat support response on the website for up to 24 hours. Investors with 100 to 299 LIMC tokens are classified as Middle-Level investors and they get an additional 5% lock-up tokens with every purchase, and support now responds faster — up to 12 hours. Pro Level investors are those with 300 – 999 LIMC tokens who get a bonus of up to 8% lock-up tokens with every purchase and tech support responds within 6 hours.
Investor Level holders own over 1000 LIMC tokens and they get direct access to the Limcore team atop a bonus of 15% on every purchase of lock-up tokens.
The Limcore DeFi platform is championing a viable and environmental model of mining using computing resources that come at no maintenance cost to the investor. The protocol is evolving, but with potential, and with its sustainable tokenomics and reward system, it is set to become a game-changer in the DeFi space.