LGBT Protocol Whitepaper
Updated on 14 August 2021.
What is the LGBT Protocol ?
In recent years, LGBT individuals and the community have become widely known, with an increasing segment of society and many governments more accepting and providing equal rights for LGBT individuals. The work of many organizations and individuals fighting for LGBT rights is one of the strongest forces behind this progress. There are still many countries where openly identifying as LGBT has resulted in major problems and even life-threatening consequences. Even in countries where the legal basis appears to be equal, the reality is often different.
LGBT Protocol is a blockchain project established for the community to overcome the economic and moral difficulties that LGBT individuals face throughout their lives.
LGBT Protocol provides economic freedom and passive earnings system to LGBT Community members and LGBT Token holders.
Estimating the Size of the LGBT Community
Public surveys and surveys conducted by statistical agencies in developed economies such as the United States and the United Kingdom have revealed that between 3 and 7 percent of the adult population identify as LGBT. A study conducted by Gallup in the USA in 2017 found that an average of 4.1% (about 10 million) of US adults identify as LGBT, and more than 7% of millennial respondents identify as LGBT.
When the world’s adult population of 5.3 billion (aged 16+) is surveyed globally, the 3-7 percent range gives us estimates of an LGBT population of between 160 million and 373 million adults globally.
Putting this in perspective, if the LGBT community were a country, it would be the world’s third largest in terms of population, behind only China and India.
This number will only continue to increase. A 2016 study by the J Walter Thompson Innovation Group found that only 48% of Generation Z youth in the US identify as exclusively heterosexual. The future is no longer a straight line, and as this generation grows, its spending power and impact on the global economy will increase.
In August 2021, the LGBT Protocol was launched with the help of blockchain technology to achieve equal rights and acceptance for all members of the global LGBT community. One of the key ingredients to the success of the LGBT Token will be the accumulated experience of its launch partners, team members, and a wide range of consultants and service providers who will issue the Token by volunteer community members.
The LGBT Protocol will manage the supply and provide a healthy economic model for Users and partners, while also providing the necessary infrastructure to operate a decentralized and autonomous network.
Tokens for three main purposes:
• Providing economic freedom and passive income to LGBT Individuals;
• Creating resources to combat anti-LGBT oppression and inequality.
• Blockchain’s decentralization means it treats everyone equally.
LGBT Token is a crypto-asset with static and automatic reward system.
Static rewards solve a lot of problems. First, the amount of reward depends on the volume of the token traded. This mechanism aims to alleviate the downward selling pressure on the coin caused by previous adopters selling their tokens after generating crazy high APYs. Secondly, the mirroring mechanism encourages holders to hold on to their tokens to get higher rewards based on percentages realized and based on total coins owned by holders.
Manual Burns & Auto Burns
Sometimes burns are important for Crypto assets to be a stable and deflationary asset; Project developers sometimes don’t do the burns. A sustained burn on any protocol may be fine in the early days, but this means that combustion cannot be limited or controlled in any way. Having burns checked by the team and promoted based on achievements helps reward and inform the community. Conditions and quantities of manual combustion can be announced and followed.
LGBT Protocol aims to implement a beneficial and rewarding burning strategy for long-term employees. You can also review the total number of LGBT Tokens burned at any given time in the detailed information available on the website which provides greater transparency in determining the current circulating supply.
LGBT Token is a deflationary Crypto asset. Therefore, 40% of the total supply was directly burned at the beginning of the project.
Burned LGBT Token: 400.000.000.000.000 LGBT
The LGBT Token automatically burns 2% on every transaction.
Automatic Liquidity Pool (LP)
Auto LP is a great feature that LGBT Protocol has brought to the industry. Here we have a function that acts as a doubly useful app for LGBT owners.
First, the contract collects tokens from both sellers and buyers and adds them to the LP, creating a solid price floor.
Second, the penalty acts as an arbitrage-resistance mechanism that secures the volume of LGBT Tokens as a reward for holders. In theory, the added LP adds tax to the token’s overall liquidity, creating a stability from the provided LP, thereby increasing the tokens’ overall LP and supporting the token’s price base. This differs from the burn function of other reflection tokens, which is only useful in the short term given the supply reduction.
As LGBT token LP rises, price stability reflects this function with a solid price base and cushion advantage for holders. The goal here is to prevent larger dips when whales decide to sell their tokens later in the game, preventing the price from fluctuating as if there was no automatic LP function.
All of these are ideal solutions to mitigate the problems we encounter with existing DeFi Project tokens.
LGBT Token uses 3 simple functions:
Auto Get LP +
Burn in Every Trade,
The transaction is subject to a 11% tax split in 3 ways.
3% Taxfee = redistributed to all existing owners
Hold LGBT Token, Earn both BNB and LGBT.
Redistribution token with a tiered reward strategy. LGBT Token holders will receive double rewards with LGBT redistributions and a chance to receive weekly staggered Rewards (BNB).
Please be aware that LGBT Token staggered rewards include the concept of a Reward Wallet that will collect redistributions in BNB and return them to their owners on a weekly basis. 15 wallets will be selected for the draw, where 5 wallets will be selected from 3 stages each week. Ranks will be awarded as follows: top tier will be awarded 50% of Reward Wallet, second tier will be given 30% of Reward Wallet, and third tier will be awarded 20% of Reward Wallet. These draws will be announced on our social media accounts. Only LGBT Token holders can participate in the draw, LGBT Token holders will be selected among them. It will be verified via BSCscan.
Current tokenomics reported for LGBT Tokens include the supply of 1,000,000,000,000,000 LGBT tokens and an 11% fee on all transactions: 3% Marketing Wallet, 3% LGBT Redistribution, 3% Airdrop Wallet, and 2% Incineration. Further details of the LGBT Protocol, including requirements and detailed benefits, will be announced soon.