Lizard Labs initiated their token generation event (TGE) on 7th November, and the results have been beyond impressive. After listing the $LIZ token on decentralized exchanges, an X user shared that in a single day, 327 million $LIZ tokens were claimed, and 312 million were staked between a single side and liquidity providers. Today marks the completion of 2.5 weeks of the $LIZ token launch, and here is an analytical view of its performance and impact.
Since the token’s launch, over $2 million worth of $LIZ tokens have been staked, which indicates the TGE has been a success. While the staking still continues, the tokens are locked for a maximum duration of 2 years. The value of tokens staked is nearly half of the total market value of $LIZ, which stands at $4.3 million (according to the current price).
Staking a token’s worth of $2 million for a period of 2 years demonstrates a high level of community trust. It shows the community will stick with Lizard Labs for the long term and ensures Lizard Labs will receive consistent liquidity to fuel the ecosystem’s growth.
Clearly, the Lizard Labs community has trust, and it supports the platform’s long-term vision. While the market cap is low, the impressive token staking represents its potential to grow, which shows the market cap can increase.
A high staking rate at an early stage, similar to what Lizard Labs is observing, sets the foundation for a token’s price stability and project growth.
Through the $LIZ TGE, the token has shown some price resilience and recovery.
At the TGE, the $LIZ token sold at $0.004, which is a great starting price for a token. However, due to the selling pressure created by completing airdrops, the token’s value dropped to $0.0018.
The fact that $LIZ rebounded to once again reach $0.0039 (at the time of writing) shows the token’s ability to come back and deliver promising results to the early investors. However, it’s not uncommon for tokens to face a sharp decline in price after the TGE, possibly due to the liquidity influx.
As seen in the price chart above, there’s a steady upward momentum in the $LIZ token, which is termed as healthy and signals sustainable growth.
An X user shares, “At ~5M $LIZ currently, almost half of it staked. I will keep buying for a long time; this is a huge conviction for me. Been with this community for almost 3 years now, managed to get the top WLs and alpha in the space thanks to the networking @LizLabsio offered to me.”
There are a few things that can and even may have triggered an increase in $LIZ’s price since the TGE.
$LIZ tokenomics is designed to improve the token’s circulation, and after the TGE, only 12.5% of tokens have been in circulation. Over the next few years, the Lizard Labs team is planning to introduce additional tokens in the economy in the following ways.
In addition to these, tokens will also be distributed gradually through strategic investments and community investments.
Staking emissions are currently high enough to bring impressive returns for the holders. After the TGE, $LIZ is it's first out of the 39th epoch and working at a current multiplier of 3.5X until the end of the first period. However, with every passing, the multiplier will potentially decrease by 0.1.
LIZ or Lizcoin is the native token of Lizard Labs and is used to complete transactions, staking, and play games. It’s the core asset users will need to participate in Lizard Lab’s initiatives.
It’s the primary token required to interact with Lizard Lab’s products including Lizard Lounge, Lizard Launchpad, Battle in the Beyond, Green Room, and the new upcoming Lizard League.
$LIZ has several utilities, including;
$LIZ can be bought from UniSwap and is also used for providing liquidity to the Lizard Labs platform to fuel its initiatives. With the TGE ongoing, there might be changes in the $LIZ pricing, staking structure, and capability to generate returns.
Stay tuned to get more updated information on $LIZ and how it develops further.
The image above shows a declining trend in $LIZ’s multiplier, and the first period, beginning on 6th November, will end on 3rd December.