The price of LYOCREDIT in the last phase of ICO is €0.75 with a 33% bonus. Users will be able to use these tokens for staking, receiving discounts and rewards, and to pay for transaction fees.
The utility token of LYOPAY — LYOCREDIT (LYO) — is now in the last phase of their Initial Coin Offering (ICO). The token is being touted as a great project that will give thousands of its users the ability to transact on the platform while receiving many discounts and rewards.
LYOCREDIT is currently in Phase 5 of its ICO, its last phase, and is providing a bonus of 33% to all its buyers. In this phase, the price of one LYOCREDIT token is €0.75, and will be available for €1 once the ICO ends. If you look at the Bonus Phases table on their website, you’ll see that LYOCREDIT had a humble starting price of €0.50 when it began on 7 July 2021 and early buyers have already benefited greatly from these early discounts.
The ICO will end on 31 December 2021 and will finally be listed on many cryptocurrency exchanges such as PancakeSwap, but starting off first on LYOTRADE at the time of its launch — LYOPAY’s very own cryptocurrency exchange.
LYOCREDIT allows users to stake, receive discounts and rewards, and use it for transaction fees while buying and selling products and services.
Every day new tokens are being launched, but most die out eventually as they don’t have much purpose attached to them. The life of every token depends on their utility. LYOCREDIT is connected to a large project like LYOPAY, which makes sure that there are various avenues for the usage of the token other than simple trading.
Where to Buy
The total supply of LYOCREDIT tokens is 250 million out of which 30 million are up for sale in the ICO. In the current, final phase of the ICO, 7.5 million tokens are up for grabs. This will be the final time LYOCREDIT will be for sale with a discounted price, so it is an opportune time to buy these tokens.
The only way to purchase LYOCREDIT tokens currently is to buy it on the LYOPAY app, through their Exchange function. Download the LYOPAY app and buy LYOCREDIT using either BTC, ETH, USDT or SEPA transfers.
Potential of LYOCREDIT
LYOCREDIT shows massive potential for growth as it is linked to a large project such as LYOPAY and will certainly remain as a powerful token in the cryptocurrency industry. Let’s see why people find so much potential in it.
- Staking: With LYOCREDIT, you can use them for staking to earn more tokens. With the Cloud Minting Programs, you can stake your coins using the Proof-of-Space (PoS) protocol. The bigger your stake, the more chances you have of earning tokens.
- Rewards: By using the LYOCREDIT token on the LYO ecosystem, you’ll be able to receive rewards and discounts. Using the token on transaction fees can let you save up to 100% of any transaction.
- Buyback-and-burn strategy: LYOCREDIT has a robust buyback-and-burn strategy where LYOPAY will buyback the LYOCREDIT tokens from the users. These tokens will be removed from circulation until the buyback of at least 50% of total supply and then these tokens will be burned. This strategy will provide price stability in the long run of the token.
Fast Transaction Times with BSC
The LYOCREDIT token is based on the Binance Smart Chain (BSC), using the BEP-20 protocol, which allows for smart contracts. Many famous coins are on the BSC including Binance’s native token BNB, PancakeSwap (CAKE), Bitcoin BEP-20 (BTCB), Binance USD (BUSD) and C.R.E.A.M. Finance (CREAM).
Since BSC uses Proof-of-Stake protocols for recording a transaction on the blockchain, this allows it to have faster transaction times at a lower cost than compared to Bitcoin’s Proof-of-Work (PoW) protocol. Through the BEP-20 protocol, any token that is on the BSC automatically has faster transaction times with all other tokens on the blockchain.
Other Famous ICOs
Speaking of Binance, their native token, BNB, has a lot of similarities with LYOCREDIT when it comes to the utility of the tokens, which also had a successful ICO back in July 2017. It is now one of the top 5 cryptocurrencies in the world, based on market cap. BNB was also created as a utility token for discounted trading fees, but eventually expanded its usage to the different applications on its platform for transaction fees. A single BNB token is currently priced at $589 at the time of writing this article.
Uses of LYOCREDIT
LYOPAY was smart enough to create many ways for people to use the cryptocurrency even before its launch, which shows that once it is launched there is a good chance that the currency will be quite stable.
Let’s explore a few places where you can use LYOCREDIT.
- LYOPAY — Receive discounts and rewards
As the utility token of LYOPAY, the platform allows the thousands of its users to use the token for buying the many products available on the LYO Ecosystem. LYOPAY has a very expansive list of products that are being launched every month on the platform, from opening your own Euro bank account to using cryptocurrencies for travel.
- Cloud Minting Programs — Rent hardware to mint LYOCREDIT
If you want to get started in minting your own LYOCREDIT tokens, you can start now by purchasing Cloud Minting Programs from LYOFi, a subsidiary of LYOPAY that handles different DeFi projects such as staking and yield farming mechanisms. Cloud Minting Programs allow you to rent hardware to mint LYOCREDIT tokens. You can either rent one full hardware, a part of it, or several.
- LYOTRADE — Buy and sell LYOCREDIT with low transaction fees
As the token of LYOPAY, you can trade the LYOCREDIT token on the cryptocurrency exchange LYOTRADE as any other token. The major benefit of trading it on LYOTRADE is that you’ll be able to save up on transaction fees as it is the token of the platform. You can also pay transaction fees with LYOCREDIT when buying any other cryptocurrency on the exchange, saving you exorbitant prices.
- LYOTRAVEL — Book flights, hotels and cars using LYOCREDIT
One of the most interesting places where you can use LYOCREDIT is on the travel booking website LYOTRAVEL. On this platform, you can use cryptocurrencies to pay for your bookings and travel the world.
The LYOCREDIT token is an interesting project which showcases lots of potential, as it is linked to an ambitious project like LYOPAY. If anything, it shows that the token is going to be used for multiple purposes, everything from paying transaction fees to booking flight tickets. This brings about a lot of confidence in the future of the token as its demand will always be present. But remember, once it’s launched on the exchange, it will be subjected to market supply and demand. So this is a very good time to look into this exciting new token.
It is definitely worth looking into the website and reading both the whitepaper and the technical paper to understand the future of the token.
You should also look into the LYOPAY project if you want to understand how LYOCREDIT plays into the services offered by LYOPAY. Be sure to check out their other social media pages to keep up to date.
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