Full money and defective tokens
Published on April 07, 2022 by LONG team
1 min READ
Almost all of them do not have the main function of money - to be suitable for exchange for goods and services, as well as from hand to hand like ordinary paper money. On centralized exchanges, such financial instruments serve only one purpose (for the most part) - to take from the majority in favor of the minority. These financial instruments are no longer suitable for anything! Even for bitcoins, we cannot buy products in the store by paying at the checkout! The LONG team is committed to complete decentralization and independence. As part of this, a small step towards DEX has been made. Our goal is to use an unmoderated, admin independent, and eternal smart contract platform to provide access to LONG to those who cannot mine it. We want to pay special attention to the fact that, unlike regular tokens, the initial price of the wrapped LONG (wLONG) is already backed by electricity costs!