LIGHT is the main token of the lhcnftsonwax collection, as well as for the entire LHC community! Currently, it can be used to purchase LNOW NFTs, create your own 1/1 multimedia NFT (requires other materials as well), purchase music made by Lumenascent, stake on TacoSwap or WAXDAO to earn WAX or LIGHT back, plus much more planned for the future!
There are multiple ways to earn LIGHT! From staking NFTs or LIGHT on waxdao.io in the NFT Farm or Token Pool, staking LIGHT and WAX into the MEAL Pool on TacoSwap, stake your TACO for LIGHT in the SALSA Pool on TacoSwap, and multiple other ways available now and coming soon, there's no shortage of ways to start earning LIGHT today! You can also buy LIGHT for WAX (exclusively) on TacoSwap!
The total supply of LIGHT is 1,000,000,000 (1 Billion) tokens. Due to the token being created using waxdao's modified WAX token contract, the ability to truly burn the token is within the contract (not standard in WAX token contracts). This means that when LIGHT is burned, it will actually be gone forever. Most WAX-based tokens do not have the ability to truly burn their token.
In short, LIGHT is a true deflationary token, and it's total supply will decrease over time.
All LIGHT earned from sales, blends, or otherwise, is sent to the token contract wallet lhc.gm to be burned, unless otherwise stated. Some LIGHT from blends has gone to the community fund holding wallet, lhcvault.gm, but no more than 5% max.
Everything about the collection is intended to try to promote value and scarcity, while also including fun choices for holders to make as they try to strategize the best way for what they want to achieve with LNOW.
IMPORTANT: When you stake your NFTs, you lose the Brilliance points that those staked NFTs gave you, until they're unstaked. This means that you are able to go down in WBR level, so please pay attention! This decision was made intentionally to try to promote a balance of staking for LIGHT vs. Brilliance levels for WAX Back Rewards.
WAXDAO is working on non-custodial staking as of 1/30/23, which may mean some changes will be made to this idea!
The waxdao NFT farm has been filled with ~35 million LIGHT (2.5% total supply + original 10 million), and the waxdao LIGHT Token staking pool has been filled with ~26 million LIGHT (2.5% total supply + original 1 million).
When you burn Dawns for a Token of Hope you will also be given a
100,000 50,000 (halved at ~50 Hope Tokens due to LIGHTs drastic price increase) LIGHT bonus alongside it.