The Future of SocialFi: Lyvely Launches $3 Million Airdrop, One Of The Largest In The Segment

• Lyvely’s utility token, LVLY, is an ERC-20 token built on the Base Network.

• A total of 20,000,000 LVLY tokens valued at $3,000,000 are up for the engage-to-earn giveaway, with points accumulated during the campaign getting converted 1:1 at the time of TGE in Q4 2024. 

• As MENA region’s first licensed SocialFi platform, Lyvely’s backers include crypto giants Phoenix Group and Cypher Capital.                                                     

Dubai, UAE | August 19, 2024: Lyvely, the SocialFi platform backed by Phoenix Group and Cypher Capital, has announced the launch of its $3 million official airdrop campaign for its fast-growing community of creators and early adopters. A total of 20,000,000 LVLY tokens will be awarded to participants as part of this whitelist program, with 1 Point = 1 LVLY, valued at $0.15 each at the token generation event (TGE) slated for a Q4 2024 listing. 

Built on the BASE network, LVLY is an ERC-20 utility token that has already achieved a completely sold out strategic pre-sale round, with participation from top influencers as well as institutional investors. By seamlessly integrating Web3 tokenization features with a familiar Web2 user experience, Lyvely is changing how SocialFi platforms operate to overcome the limitations of a fragmented media landscape. The platform’s crypto/fiat hybrid features are designed to empower creators and digital entrepreneurs to build their digital HQ and with it, a thriving revenue stream. 

Speaking on the highly anticipated launch of the airdrop campaign, Dave Catudal, Co-founder & CXO, said, “We are humbled by the support of our community towards Lyvely’s vision of advancing the trillion-dollar creator and freelancer economy. The LVLY token, which is central to this vision, is designed on the foundation of real-world utility, and our airdrop campaign is a means to engage with our community and build a rewarding ecosystem for all participants. The tokens will be deployed through a variety of engage-to-earn opportunities, including quests within the Lyvely platform, offering substantial engagement and user adoption as we prepare for our much awaited token launch later this year.”

Bill Qian, Chief Investment Officer at the Phoenix Group and Chairman of Cypher Capital, added, “As one of the largest companies in crypto, the Phoenix Group is proud to be invested in Lyvely’s relentless ambition to build a tokenized ecosystem for the creator economy. Blockchain tech holds the key to enabling equitable monetization opportunities for all digital creators, and this airdrop is a great way to announce the platform’s vision for SocialFi, on the global stage.”

LVLY Airdrop Mechanism

Lyvely’s airdrop campaign will follow a two-phased approach, with each phase deploying 50% of the total dedicated pool. The first phase, which commences from August 19th, will focus on rewarding new users and engagement. Users who complete basic tasks such as creating an account and engaging with verified creator accounts can earn points, which later convert to LVLY token. Phase 2 of the airdrop campaign will run from September 16th, focusing on targeted quests to enable users to maximize earnings from the remaining 50% token pool. This phase aims to incentivize continuous activity, community engagement, and content creation within the Lyvely platform. Examples of these tasks include starting a community on Lyvely, referrals, and participation in special events or giveaways. 

To ensure a smooth distribution and optimal market price action, Lyvely has implemented a structured and automated unlocking schedule to the Airdrop. This includes 20% of a user’s LVLY tokens getting released on the TGE date, followed by 6 months daily linear vesting. This secure and automated vesting process will be done via the platform’s partner, Sablier. 

Additionally, to ensure optimal real-world value for holders of LVLY, the platform has partnered with some of the leading FinTech providers to offer digital wallet creation using a social login, as well as on and off ramping of the token directly from the Lyvely platform. This move aims to bridge the gap between mainstream and web3 users, and enable everyone to purchase, store and trade LVLY straight from their Lyvely profile, without having to deal with the unfamiliar user journey of trading on exchanges or setting up crypto wallets. 

As the only SocialFi platform in the MENA region to receive a fully compliant operational license from RAK Digital Assets Oasis, (RAK DAO), Lyvely’s commitment to user convenience and data security is further reflected in its recent 10/10 score on Hacken’s smart contract audit across parameters such as Security, Code Quality, Test Coverage and Documentation Quality.

Click to access the Lyvely Whitepaper: https://lyvely.gitbook.io/lyvely-whitepaper-v1.0

About Lyvely

Lyvely is a social monetization platform building the future of online monetization for creators, freelancers, businesses and digital entrepreneurs. Lyvely is a digital HQ that empowers people to think more entrepreneurially and monetize their content, skills, and passion. Creators can offer monthly memberships, build communities, live stream and sell, offer gigs and services, accept tips, earn from their content or as an affiliate, and do so much more. The company is based in the UAE, with Phoenix Group, an Abu Dhabi Exchange (ADX) listed multi-billion dollar tech conglomerate, acquiring 25% of the company.  

About Phoenix Group

Phoenix Group is a multi-billion-dollar tech powerhouse headquartered in the UAE, at the forefront of the blockchain, crypto, and tech revolution. Beyond the web3 sphere, they offer comprehensive solutions, boast a 765MW mining operation, and fuel growth through strategic partnerships and innovation. Phoenix Group operates nine mining facilities in the US, Canada, CIS, and the UAE, with each unique company operating in one of four distinct verticals: Mining, Hosting, Trading, and Investments. Phoenix Group PLC is the region's first privately owned crypto and blockchain conglomerate listed on the Abu Dhabi Securities Exchange. It also runs the largest mining farm in the MENA region.

For details: https://phoenixgroupuae.com 

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