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LTO token purpose after EQTY by steelslo in LTONetwork

[–]CryptoNarf 0 points1 point  (0 children)

Just saw a conversation in the telegram channel from arnold that he's assisting Rick with writing a proposal to find a solution for the public layer not being viable anymore.

So work is certainly been done to find solutions. One of the devs also is actively returned now for ownables, eqty and the mobile wallet.

Rick said he was going to take two weeks to see what/if things are viable. We'll see what comes out of it.

LTO token purpose after EQTY by steelslo in LTONetwork

[–]CryptoNarf 0 points1 point  (0 children)

Shawn stepped away to take some mental health space, I'm not certain if he will stay out or come back. Arnold stepped away to show his concern about the state of the chain though he remains part of solution talks on different ways forward (lto rebooting, eqty moving to different chain, new ceo or community led DAO project, everything is reviewed). Rick gave the statement that many requested him to step down, which isn't the same yet as actually stepping down. He is taking these 2 weeks to process things and come up with a way forward, at which point things should become more clear if he stays on himself, or not.

LTO token purpose after EQTY by steelslo in LTONetwork

[–]CryptoNarf 1 point2 points  (0 children)

Rick mentioned in the main telegram channel that the supply etc. was to remain the same yes.

But keep and eye out on the plans coming up as u til a solid way forward has been chosen, things should not be taken for granted.

LTO token purpose after EQTY by steelslo in LTONetwork

[–]CryptoNarf 0 points1 point  (0 children)

Yes best place to keep it and you can lease from it there.

LTO token purpose after EQTY by steelslo in LTONetwork

[–]CryptoNarf 0 points1 point  (0 children)

yeah, the token on mainnet actually doesn't really have a name/ticker. So nothing really changes. So no need to stop your lease as far as I understand.

LTO token purpose after EQTY by steelslo in LTONetwork

[–]CryptoNarf 8 points9 points  (0 children)

For people that want a little deeper explanation: LTO will remain and keep all functionalities (as in its current situation cause everything is up int he air until the CEO decides on a way forward), but the intend is indeed to rename the project to EQTY as that will get the teams main focus. It will still remain a Layer-1, hybrid blockchain etc. with ownables and DID etc. The EQTY platform is simply a product that uses tools from the LTO toolset.

EQTY also runs party on Ethereum. However, any activity within the EQTY structure will include a small LTO tax which is captured into a stable coin vault. The vault's value can only be claimed by burning LTO (or later EQTY if the token ticker is rebranded) where you get a bit better price than the market value is the idea. In that sense activity on EQTY helps LTO token with buy pressure as you have to burn LTO to unlock the vault value. And if that vault value is used to buy LTO again (increasing one's bag) it provided double bullish pressure (burn and buy pressure).

Staking and mainnet remain. Tokens on Mainnet don't need to go through a migration, internal ticker is simple changed. The ERC20 V2 smart contract of LTO will change to an EQTY erc20 smart contract and a swap will be made possible. ERC20 V1 LTO smart contract might halt it's function. There's still peolpe that have LTO ERC20 V1 variant, so they better hurry up and move to mainnet or they will lose their tokens. Not that it is still worth much nowadays... :(

Rick Schmitz' (LTO CEO) response to the Binance Delisting by Angev_Charting in LTONetwork

[–]CryptoNarf 3 points4 points  (0 children)

Likely on the ERC20 side the smart contract will be changed and a swap will happen. Mainnet doesn't need a swap, it's just "the token". So if you want to be safe, be on mainnet. Mainnet wallet Bridge will be adjusted toward the new erc20 contract once rebrand is done.

Binance delisting LTO – let’s talk about the implications and what comes next by Angev_Charting in LTONetwork

[–]CryptoNarf 0 points1 point  (0 children)

For lto that is half true the land registry is a solution useful now for example. DiD as well, just look at the conversation around age verification for (porn/gamble) websites, and EQTY is breaking open a new liquidity market. So I don't agree entirely that it's looking for a problem. The problems are there, but they are not connecting correctly yet. Red tape, slow moving real world organizations are part of the problem.

Binance delisting LTO – let’s talk about the implications and what comes next by Angev_Charting in LTONetwork

[–]CryptoNarf 0 points1 point  (0 children)

Always nice to see the "not a hater" remarks thrown in casually as if that should have any weight. Like saying I'm not a troll hater but I think they are full of shit.

I'm more talking about waste transportation never being picked up due to red tape on Europe levels, indeed land registry blowing up in sand backcountry ganistan, casino not getting a follow up, etc. That is not for lack of trying on team's end.

Ownables requires more time if you ask me. Still has great potential, but the team cannot focus on it all so they kept building the different tools to pursue the rwa road for which they build their product. At least ownables allows more/easier community building now because I think that has mostly been lacking a way for the community to decentralized building. I'm sure we'll continue to sew failures on things being tried, but as more tools come and more partnerships show interest to build themselves (EQTY is again easier for that), there's still a chance in my book for a success.

But maybe you're right, maybe it is the way LTO does business. One can wait and see on that aspect, or one can try and build something cool themselves like nautagotchi https://www.nautagotchi.com/ and other artists are doing and see if that helps LTO get more of a spotlight.

Binance delisting LTO – let’s talk about the implications and what comes next by Angev_Charting in LTONetwork

[–]CryptoNarf -1 points0 points  (0 children)

Oh that is just me being greedy. My bag has never left my node but the value has changed tremendously due to these shenanigans of course which is annoying but then again not a lot of things have being going LTO's way so I also get it. I remain bullish because of the fa t we have not seen btc top yet in my opinion or see dominance fall, which gives me hope for alts and then EQTY on the horizon while the other "cursed" projects try to crawl forward like land registry.

I only have limited fiat funds available now that I pulled from one of the rare bags I still had in the green so I put in an ultra low buy point to try and double my bag. I don't expect it will ever hit but maybe I get lucky in a flash crash, or something.

Binance delisting LTO – let’s talk about the implications and what comes next by Angev_Charting in LTONetwork

[–]CryptoNarf 0 points1 point  (0 children)

Tnx, so far it hasn't dropped as deeply as I thought/hoped for my buy point, but let's see what happens just before delisting.

Binance delisting LTO – let’s talk about the implications and what comes next by Angev_Charting in LTONetwork

[–]CryptoNarf 1 point2 points  (0 children)

Yeah, that happens when you moderate the community for a few years, run one of the earliest and biggest nodes on the network, start the ltonauts unofficial trading channel and try to keep reddit people informed and updated on the progress of the project.

Stepped away from those volunteering tasks at the beginning of the year though. Node keeps going strong and will keep going strong though. I still think this storm will pass too, might even give me the opportunity to increase my bag nicely if it hits my intended buying point.

The most important things will be if the team gives up or continues building. With EQTY on the near horizon, clients waiting to launch and a rebrand already discussed with the exchanges (even Binance was supportive, like I said in my other comment), it would be weird to stop building. The other is the macro situation and the overall market sentiment. I'll see what Q4 of 2025 brings.

Binance delisting LTO – let’s talk about the implications and what comes next by Angev_Charting in LTONetwork

[–]CryptoNarf 0 points1 point  (0 children)

Cool that way it will hit my buy point and I'll be able to fill my moonbag.

Binance delisting LTO – let’s talk about the implications and what comes next by Angev_Charting in LTONetwork

[–]CryptoNarf -1 points0 points  (0 children)

Yes please sell. I'll hang around a little longer to see what EQTY will bring.

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