Road Town, British Virgin Islands--(Newsfile Corp. - December 3, 2024) - In a significant move for cryptocurrency enthusiasts, LBank Exchange, a premier global digital asset trading platform, has announced the listing of Summit (Summit) on November 4, 2024. The Summit/USDT trading pair (https://www.lbank.com/trade/summit_usdt) will be available to users of LBank Exchange by then.
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The cryptocurrency space has seen the meteoric rise of meme coins, often driven by community enthusiasm and social media trends. These tokens have gained immense popularity. However, despite their growth, the challenge of creating lasting value beyond speculative trading remains. Summit aims to change this narrative by introducing a new, more sustainable and engaging model for meme coins: the Unite-to-Earn mechanism. This innovative model seeks to redefine how meme coins are perceived and create long-term benefits for both individuals and the community as a whole.
Summit: Revolutionizing Meme Tokens with the World's First Unite-to-Earn Mechanism
Summit is a meme coin project built with a clear vision of fostering community-driven growth and rewarding participants for collaboration. The project leverages the Unite-to-Earn mechanism, where users are rewarded not only for individual actions but for working together as part of a collective effort. The goal of Summit is to establish itself as the premier meme coin by integrating community participation with real-world utility and token-based rewards. Summit's mission includes introducing the world's first Unite-to-Earn system, building a secure staking platform, and driving widespread token adoption through partnerships, strategic marketing, and community engagement.
Summit's standout feature is its groundbreaking Unite-to-Earn mechanism, which revolutionizes the way users engage with the project. Unlike traditional meme coins that rely on hype and speculative trading, Summit incentivizes collaborative actions across the community. Whether it's organizing events, participating in social media campaigns, or engaging in governance decisions, users can earn rewards through collective efforts. The mechanism encourages not only individual action but teamwork, fostering a decentralized ecosystem where participation contributes directly to token growth and value creation. This shift from individual rewards to collaborative rewards aims to establish a more sustainable community culture and a stronger long-term project trajectory.
The inclusion of the Unite-to-Earn mechanism adds an extra layer of incentive, where participants can earn additional rewards for engaging in community-driven actions. This approach ensures that all token holders, whether they are staking or simply engaging with the community, are incentivized to contribute to the long-term success of the project.
Tokenomics: A Sustainable Model for Long-Term Growth
Summit's tokenomics are designed to ensure sustainability and long-term value creation. With a capped supply of 2,100 billion tokens, the allocation is strategically distributed to support growth, reward participants, and maintain ecosystem stability. 38% (798 billion tokens) is allocated to staking rewards, 43% (903 billion tokens) to rewards and incentives, 8% (168 billion tokens) to community engagement, and 5% each (105 billion tokens) to development and marketing. A structured vesting system releases tokens gradually to prevent inflation and maintain a controlled supply. Staking rewards are distributed at a daily release rate of 0.1%, while other categories are set at 0.2%, ensuring steady, long-term participation. This balanced distribution model fosters consistent engagement and supports Summit's goal of becoming a leading meme token with a sustainable, community-driven ecosystem.
Learn More about Summit:
Website: https://msummit.io/
X: https://x.com/summitofficial2
Telegram: https://t.me/officialsummit
About LBank
Founded in 2015, LBank is a top crypto exchange offering financial derivatives, asset management, and secure trading. With over 12 million users across 210+ regions, LBank ranks in the top 20 for spot trading and top 15 for derivatives trading globally, ensuring fund integrity and supporting global crypto adoption.
Leveraging its acute market insight and expertise, LBank always takes the lead in spotting and listing Alpha altcoins. The platform was among the first to list popular gem coins like BONK, BOME, and FLOKI, as well as emerging favorites like NEIRO, MOODENG, GOATSEUS, and PNUT, offering impressive returns to investors.
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Press contact:
press@lbank.com
Business Contact:
LBK Blockchain Co. Limited
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