Revolutionizing Stable Coins: Introducing USDL (formerly LFUEL)

Minting Mechanism

USDL is the gas token for LGCY Network. Instead of having bandwidth and energy, the LGCY Network will use USDL as gas. 1 USDL will be a credit for $1 worth of transaction/server fees. (explained in the next section) The best part about USDL is that it will be a stable coin! That means that for people who stake LGCY tokens they will earn payouts in a safe, stable coin rather than in a volatile token.

What makes it stable?

USDL will be pegged to the US dollar. We realize that most people probably do not spend much time thinking about the mechanics behind a stable coin, but it is important that we explain here why USDL will be better than any other stable coin on the market.

Why it’s better to reward in the stable coin?

As you know, LGCY Network stakers will receive their payout for staking LGCY in USDL. We do this for a number of reasons. This is far better for the investors in LGCY as we are removing inflation that usually exists in a classic DPoS staking system. When a staker receives their payout in the native token they are faced with a choice, “Do I stake my payout or do I sell my payout?” Many people stake in order to gain dividends for spending. Unfortunately, by paying out in the native token there is an unnecessary inflation added to the market daily. Stakers are forced to sell their tokens to be able to use the money.

Why we’re changing the name to USDL

The name change is being done to cause less confusion. It is being pegged specifically to USD while also being the future stable coin pair for our dex. When users see “USDL” they know exactly what it’s supposed to be. As USDL will be more than simply gas for the LGCY Network, we decided it was best to give it a more adoptable name.

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LGCY NETWORK

LGCY NETWORK

LGCY Network is a DPoS, open-source blockchain protocol with industry-leading transaction speed and flexible utility. https://lgcy.network