LynchPin (LYN)

What is LynchPin

Blockchain technology, altcoins, and cryptocurrencies such as Bitcoin, are buzzwords that have changed the way people understand and perceive today’s economy, as well as full-blown industries such as banking or finance. Ever since Bitcoin went mainstream, a multitude of disruptive ideas and assumptions surrounding cryptocurrencies have emerged.

Industry innovators constantly claim that they have found pioneering implementations for Blockchain technology and cryptocurrency to the end user. However, they haven’t been able to achieve much because volatility still gets in the way of mass adoption. Is cryptocurrency a universal medium of exchange? No, it’s not.

Industry experts have come up with promising projects over the years, however, they haven’t been able to develop complete solutions. In the absence of a stable universal token, the end user is compelled to use different platforms and different cryptocurrencies to perform different online activities.

The global economy needs a universal cryptocurrency; a stable token that operates on a single platform and is able to accommodate a vast array of commercial activities (e.g. e-commerce, Point of sale (P.O.S) merchants, online gaming, social streaming, payment for accommodation, food, and more) linked to a form of payment, one way or another. This is where LYN token (LYN) comes in. Its goal is to develop a token that can act as a universal exchange medium capable of providing true value to a cryptocurrency.

VISION

In January 2018, the global crypto market surpassed $700 billion. And yet, although more than 6 million people use a crypto wallet, cryptocurrencies don't seem to have a financial or commercial use. Most investors buy low and sell high; only a very small percentage hold for long period of time because, whether we like it or not, the whole industry is seen as bubble that’s about to burst.

One of the main reasons big companies don’t issue their own token is volatility. Most of them are ”crypto assets" because they're not treated as currency. But then again, if cryptocurrency can’t be compared with the EUR or USD, it will never be used as a universal currency.

The vision is to create a token that solves these major problems in the industry:

• Volatility.One of the reasons volatility is created in the market is due to new coins added to the supply, triggering huge volatility as whales control the mining market due to early adoption, which triggers a supply created at very little cost. New adopters or token/coin buyers get affected as they enter the market at the last traded price. There is a cost of inflation that is not accounted for, meaning that if is a correction happens, they will feel the burn the most.
• Lack of intrinsic value.There’s little value in cryptocurrencies because most tokens don’t have a real use. What we're trying to do is create real value by making our Lyn token a viable medium of exchange; therefore providing price stability in the market.
• Inflation and deflation.Our token stops inflation because we will use a fixed supply method. No new tokens will be created through mining or staking because Lyn token uses the Ethereum Blockchain to confirm transactions. We believe in using the decimal points which were created to increase the price and value of the token, instead of creating more supply to deflate or devalue its price.
• Lack of utility.Utility solves adoption as our Lyn token is not limited to just trading in exchanges which creates the position of the currency being speculative.

We strongly believe that LYN token will be able to answer the 4 pain points mentioned above. Truth be told, hype does help to keep the crypto market afloat. It can spread the word globally, and bring more and more people into the crypto space. However, hype usually backfires and the result is an overextension of the markets forces.

2017 was an excellent year for the crypto market. With Bitcoin reaching almost $20,000, most altcoins followed on the footsteps touching unthinkable highs. But as we entered 2018, many tokens had to face the consequences brought on by pure speculation and dumpers hunting for the easiest ways to get a return on their investment.

Interest, volume, and prices started declining, even though the underlying technical principles and coding work remained the same. Cryptocurrencies are decentralized forms of trading value by nature. That’s why the dollar prices made available on various charts are set by the overall market, as opposed to a centralized entity influencing price in one direction or another.

The overall value or price of a token or coin is defined by trading volume (buy/sell) on different exchanges. Regardless of the real value of a token and intrinsic value, many times the price skyrockets due to hype and speculation. Sudden spikes occur because the crypto market boasts with hundreds of ”influencers” that plague the industry with unfounded allegations. The end result: tremendous volatility since speculation and word of mouth circulates a lot faster than real adoption.

Lynchpin (LYN) token enters the scene with a clear purpose: to build an ecosystem and many mediums of exchange where token utility prevails. By providing multiple initial uses for LYN, we aim to create stability.