FAQ
Last updated
Last updated
LRC-20 is a new token protocol built on Bitcoin and the Lightning Network, launched by a random dog named Akita Mia in April 2024. See this tweet.
Transaction fees vary based on the Bitcoin network conditions. Ensure your wallet is sufficiently funded to cover these fees during the minting process.
Token creators can only change the image, description and links of a token post-announcement. Metadata such as name, ticker, and max amount cannot be changed once it's recorded on the blockchain. Ensure all details are correct before confirming the announcement transaction.
The leaderboard is updated in real-time as upvotes are received. You can check your token's rank and upvotes anytime on your dashboard.
Yes, you can participate multiple times by announcing different tokens with separate wallets. Each token will have its own leaderboard ranking.
Yes, you don't need to create a token to be part of the launch. You can always support any token by upvoting it (select the token in the leaderboard to generate a lightning invoice), sharing it with others on your social media platforms, and more.
There are no restrictions on the number of tokens you can upvote. You can support as many tokens as you like by upvoting via Lightning.
No, the funds sent over Lightning for upvotes cannot be claimed back. All the funds go towards providing liquidity and support for the top three tokens on the leaderboard.
Currently, LrcSwap only supports the minting of tokens on L1. The swap functionality will be enabled in the coming weeks. Stay tuned for updates.
The leaderboard competition will last for 14 days.
Yes, as long as the receiving wallet supports LRC20 tokens and the Bitcoin blockchain, you can transfer your tokens to it. If your wallet doesn't support it yet, feel free to let their team know. We would be more than happy to assist with the integration.
While we're currently focused on LRC-20, we are open to supporting any assets. We will be shifting more product attention to L2 in the coming months.
Yes, LrcSwap is planning to support the Lightning Network. This integration will enhance transaction speed and reduce fees, providing a more efficient and scalable solution for users to swap and manage their LRC-20 tokens. This will be powered by flashnet.xyz.
Ensure you back up your private keys or seed phrase when setting up LrcWallet. If you lose access, you can restore your wallet using the backup.
We welcome feedback and feature suggestions from our community. You can share your thoughts via our social media channels (@lrc20swap on Twitter) or email us at [email protected].
