Libcoin is a sustainable cryptocurrency asset that intends to tackle the world’s current supply chain shortage of lithium to produce batteries for electric cars. Currently hosted by the Ethereum blockchain, the company behind Libcoin is focused on finding its niche by creating a crypto token backed by a green business model.
As cryptocurrency becomes the focus of the time, Elon Musk’s infamous tweets and the Twitter wars on the rise and fall of crypto have been front and center. But, along with increasing popularity and the burgeoning size of the overall cryptocurrency market, there has been a lot of criticism and debate happening around the environmental impact of mining cryptocurrency. The high energy consumption and associated carbon footprint have raised eyebrows, and now people are looking to alternatives for investing in greener solutions.
Libcoin, with its innovative one-of-a-kind digital asset, has hit the right balance by bringing in a coin that democratizes access to a new class of investors who could then participate in green energy investments.
What is Libcoin?
Started in 2021, Libcoin is a governance and reward token that provides potential holders a unique exposure to investments and rewards in the booming green battery technology industry.
The past decade has seen bourgeoning interests in building a sustainable investment model to address the persistent environmental challenges globally. With the world pledging to achieve net zero by 2050, an innovative approach to financing is needed. Libcoin has brought together the best of both worlds by bringing in a sustainable crypto asset that not only accelerates the transition into clean energy but also fills a huge market gap by addressing the growing demand for green energy investment opportunities.
How the investment generated will be deployed into green projects?
Through a public offering of the LIB token, funds will be raised which will be deployed to develop large lithium ion Giga-factories globally. Currently, the Libcoin consortium which includes Avass (Australia based world leading battery storage and Electric Vehicle manufacturer) and DFT (Duggal Family Trust) plans to be the first mover in India, which is the 5th largest automobile market in the world, by establishing the first gigafactory there. The team is set to partner with Bharat Heavy Electricals Limited (BHEL), which is India’s largest power generation equipment manufacturer, for this project.
The LIB token functions will be rolled out in 2 stages:
1. Deployment and burning:
Funds raised by $LIB token will be deployed into battery technology. 25% of any profits from battery business will be converted into $LIB annually and acquired $LIB will be permanently removed from supply by burning.
2. Governance, staking and rewards:
Token holders will be empowered by giving them voting decisions to mint new tokens. Those being active in polls and governance decisions will be rewarded.
Libcoin will also partner with sustainable businesses where customers will receive LIB tokens when buying from partners.
The LIBCOIN team, having a cumulative 60 years of expertise in battery technology, are determined to bring this innovative green energy solution to life.
George H. Gregor, who has held senior positions in four of the largest financial institutions in the world (Citibank, Bank of America, Nomura International, and Deutsche Bank) has joined the team as Executive President. Apart from him, we have Henry Behnke, Jeff Keily and Christopher Kenny as key advisors bringing in their immense experience in renewable energy, energy systems and hybrid energy solutions, respectively.
The rest of the team contributes financial, operational, technical and managerial expertise, and are committed to a high level 2 year roadmap with the target of creating key project and investor activities.
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