From July 14th, we officially list Label Foundation Token (LBL) on the ONUS application. Soon after LBL is added, users can perform the following features:
- Off-chain transactions: Send and receive LBL with other users in the ONUS network.
- Exchange: Swap from VNDC or USDT to LBL and vice versa.
About Label Foundation
LABEL is an unparalleled NFT infrastructure built on top of the Ethereum Network, powered by LBL utility and governance token to establish a fair profit-sharing ecosystem with the permissionless integration of IP rights. LABEL provides a decentralized P2P incubating platform to invest in the world-class entertainment-education content through the DAO voting system to further allow contributors to claim profits through the NFT shareholding mechanism.
The LABEL aims to return the true value back to the creators of digital education content and creates a space for creators, inventors, consumers, and distribution platforms to gather and coexist within a single ecosystem.
Label Foundation’s ecosystem:
- NFT Market: The NFT Market is a space for trading NFTs created inside of the Incubating System. NFTs generated by Incubating are kept in private wallets, and NFT owners can trade their NFTs for shares in the NFT Market.
- Course: LABEL’s core function is to provide high-quality, educational content. LABEL provides both self-produced content and content created through partnerships with other educational platforms. The wide variety of content available on LABEL is classified into two categories: free or paid content both available through subscription services.
- Incubating: Incubating is an online space where users create new content and invest in the incubation process.
What is LBL Token?
LBL is a native token of the Label Foundation ecosystem, operating on Ethereum according to ERC20 standard, and can be used to:
- Staking: LBL token holders can stake their tokens to receive staking rewards from DAO Funds or to participate in major governance voting processes.
- Governance: LABEL introduces a DAO (Decentralized Autonomous Organization), which is going to become the main governance voting system on the LABEL platform. Holders that stake their LBL tokens may vote for or against various proposed changes to the LABEL ecosystem.
- Payment: LABEL platform users can utilize LBL tokens as payment for all educational content on the platform. LBL tokens are paid once a month to the owner of the beneficiary rights of the NFT content.
Special offers, promotions, and bonus opportunities will also be offered exclusively to LBL token holders.
- Name: Label Foundation Token
- Symbol: LBL
- Platform: Ethereum
- Standard: ERC20
- Type: Utility, Governance
- Smart Contract Address: 0x2162f572B25f7358db9376AB58a947a4e45CeDE1