The group that formerly launched one of the initial ecosystems within the crypto industry with the title Werewolf has signaled another move by introducing a unique species’ generation through the Lycan Chain. The name of the project is derived out of the myth of Lycans having immortality, immutability as well as incredible speed.
The Lycan Chain
The release of Lycan Chain is scheduled at the time when a significant proportion of several businesses (that use data transaction as well as storage) is occupied by blockchain technologies. However, with the existing solutions within the market, blockchain can hardly be called a technology that can bring a revolution because a few of the chains are unable to process huge amounts of transactions as well as scale usually.
The construction of the Lycan Chain was carried out to solve the problems related to scalability along with making a way for comprehensive adoption. The EVM compatibility of Lycan does not put a limitation on it because it is even interoperable and has the compatibility for Web 3.0 along with permitting smart contract, a high bandwidth, and several other solutions that leap into the upcoming era of technology.
LYC digital token
LYC is considered to be the local token released by Lycan Chain, being a governance token to be utilized on the blockchain. With the utilization of LYC, the consumers of the chain become capable of participating in the project’s future. Apart from the governance system, each of the transactions assists the blockchain via recompensing or staking LYC.
One among the Lycan Chain’s most exclusive characteristics is the architecture thereof that permits LYC’s prominent 21 stakers to validate the blockchain. Moreover, Lycan uses a mixed PoS (proof-of-stake) architecture not witnessed formerly. It permits the validators to call for delegators via burning the main token called LYC.
An event for fee-burning is arranged by the Lycan Chain every month where the local tokens of the platform are burned for gas charges. The consumers are additionally enabled to get Omega stablecoin after burning LYC. Omega provides the zero-gas-fee service over the transactions carried out through the Lycan Chain.
The Werewolf platform (the predecessor of Lycan Chain) provides a huge diversity of DeFi-based products such as Metaverse gaming, staking, and decentralized exchange as well as the other solutions. The consumers having an acquaintance with the venue should keep in mind that the WWC (Werewolf coin) will be transacted to Lycan Chain.