Token

About the $LAMP token

The MagicLamp Token

$LAMP is the MagicLamp Token - the native utility token of the Aladin ecosystem and a native token on the Cardano blockchain. It is more than just a currency; it's the key that unlocks the full potential of the Aladin protocol for every participant.

Inspired by the timeless story, we see every user as "Aladin," the hero of their own journey. The $LAMP token is their "Magic Lamp." By holding and using it, they can access the platform's core trust features, enabling them to connect and transact with "Genies"—the talent and solutions they need—with the assurance of security and fairness.

Utilities

What can you do with the $LAMP?

$LAMP is a multi-faceted utility token designed to power every interaction within the platform. Its value is derived from its essential functions:

1. Contract Commitment

   • What it is: The primary function of $LAMP is to serve as collateral in every smart contract. Both the client (Aladin) and the freelancer (Genie) lock an agreed-upon value of $LAMP into an escrow contract to secure their agreement.

   • Why it matters: This creates a high-commitment environment, completely separate from the final payment method (which can be in Fiat, ADA, or other tokens).

   For example, a $100 job paid in USD might be secured by a $20 commitment in $LAMP from each party. This ensures both sides are serious about the agreement, dramatically reducing the risk of non-payment or non-delivery. Upon successful completion, the collateral (minus a small fee) is returned.

2. Governance

   • What it is: Holding $LAMP grants you voting rights in the Aladin DAO (Decentralized Autonomous Organization).

   • Why it matters: This puts the future of the protocol in the hands of its users. You can vote on proposals for new features, fee changes, and the overall direction of the ecosystem, ensuring Aladin remains a true community-owned platform.

3. Staking Rewards

   • What it is: Any $LAMP holder can stake their tokens to support the network's security and liquidity.

   • Why it matters: Staking allows you to earn passive rewards from the fees generated by the platform. It's a way for long-term supporters to participate in the success of the ecosystem and earn a yield on their holdings.

4. Responsibility

   • What it is: To qualify for the specialized role of a "Sultan" (a community arbitrator), a user must hold a minimum amount of $LAMP. This is a prerequisite, not a stake.

   • Why it matters: This ensures that our arbitrators have a vested interest in the long-term health of the ecosystem. If chosen to arbitrate a dispute, Sultans are compensated for their expertise and time with fees paid in $LAMP, creating a professional and incentivized system for fair dispute resolution.

5. 5. Payment fee

   • What it is: $LAMP is the native currency for paying protocol fees on the Aladin platform (e.g., the fee on the committed collateral).

   • Why it matters: It provides a seamless, integrated way to cover the operational costs that keep the platform running and secure, with all fees contributing to the Treasury and reward pool.

AladinNomics

How about the economy of the $LAMP token?

1. Token Details

   • Ticker: $LAMP

   • Max Supply: 1,000,000,000

   • Blockchain: Cardano

2. Token Allocation

   • Community: 30%

   • Treasury: 20% (for long-term growth)

   • Team: 20%

   • ISPO: 15% (for Cardano community distribution)

   • Marketing: 10% (for the end users)

   • Airdrop: 5%

3. Vesting Schedule

   • To ensure long-term commitment, tokens allocated to the Team & Advisors are subject to a 12-month lock-up period, followed by a 36-month linear vesting schedule. This aligns the team's incentives with the sustainable success of the project.

The Economic Flywheel

How does the $LAMP's value grow?

The Aladin protocol is designed to create a self-reinforcing cycle of value for $LAMP holders and the ecosystem as a whole:

1. More Jobs on the platform...

2. -> More Fees are collected and sent to the Treasury...

3. -> More Value in the Treasury to fund growth and reward participants...

4. -> $LAMP Becomes More Valuable due to increased utility and demand...

5. -> More Users are Attracted to a thriving and trustworthy platform...

6. -> Which leads to More Jobs... and the cycle continues.

This flywheel ensures that as the Aladin platform grows, the value it creates is captured and shared across the entire community.

Our Philosophy on Value: Utility over Speculation

Our primary focus for increasing the Value of the Aladin ecosystem is to drive the volume of transactions and the total Committed Value in Contracts (CVC). We believe that the long-term health of the protocol depends on its real-world utility, not on speculative price action.

Therefore, our efforts are centered on delivering immense value to Aladins and Genies—the actual users of the platform. Our marketing team will focus on attracting the end users in the real world, such as employers, HR professionals, businesses, and freelancers, etc, rather than courting investors like VC, 'whales', or traders.

We have no obligation to increase the Price of the $LAMP token. Our commitment is to build a robust, useful, and thriving decentralized economy. We believe that by focusing on utility, a sustainable and healthy token value will naturally follow.