LAS VEGAS, June 29, 2022 (GLOBE NEWSWIRE) -- The original Liberty Dollar, a US-based alternative currency founded in 1998 — predating Bitcoin by a decade — has been reimagined for the crypto age as LD2, a precious metals-backed digital token protocol and cryptocurrency. Each LD2 token is a receipt for a custom-minted, one troy ounce silver or gold coin.
Originally an Ethereum-based ERC-20 token, LD2 is now expanding the first issuance of its limited-edition LD2.zero digital tokens through a move to the more eco-friendly WAX blockchain (powered by EOSIO). LD2.zero tokens are now available for purchase with WAX tokens.
“The Liberty Dollar was extremely successful, not only as a private, alternative currency, but also as an influential model for the cryptocurrency movement. By reimagining the Liberty Dollar through LD2, we have merged this tried and tested alternative currency model with blockchain technology,” said LD2 co-founder, Extra von NotHaus. “Moving from Ethereum to WAX was a natural choice for us. With zero gas fees and carbon-neutral transactions, WAX is a better match with the ethos of LD2.”
LD2 joins other popular content creators already on the NFT-focused WAX blockchain, from the likes of Atari and Funko to Marvel and DC. Beyond the fungible LD2.zero, LD2 is now building a premier NFT 2.0 solution on WAX, which will bring real-world asset backing and price stability to NFTs for the very first time. By utilizing LD2’s WAX-based token, this new solution can attach real-world value through silver bullion to any digital NFT asset on the WAX blockchain.
100% Backed, Redeemable and Exchangeable
Blockchain technology allows LD2 to retain the spirit, principles, methodology and community that made the Liberty Dollar special, while also offering the opportunity to expand functionality with new features, liquidity and utility.
“Complete transparency and security, along with high transaction speed and volume, are just a few of the benefits offered by the WAX blockchain that enable us to bring this real-world value to cryptocurrency users everywhere, and now to NFTs as well,” said Steven Brendtro, co-founder of LD2. “There’s never been a better time to apply the lessons and success of the Liberty Dollar model to cryptocurrency and NFTs.”
LD2 digital tokens function as blockchain-based digital warehouse receipts. Simply put, this means that a customer buys the physical silver up-front, and instead of taking immediate delivery of that silver, receives a warehouse receipt in the form of a digital token. LD2 LLC only sells silver, not tokens — the digital tokens are always the receipt.
Since the physical silver coins are purchased up-front, these tokenized receipts can be redeemed at any time for the physical silver coins. Token holders’ silver coins are secured in a fully insured vault that is subject to strict third-party audits on a regular basis, with results recorded on-chain. The US$50 price for the silver LD2.zero coins includes prepayment of storage and insurance in this vault for ten years from issuance.
Only 10,000 LD2.zero tokens were initially issued, backed by a limited-edition, one troy ounce brilliant uncirculated (BU) .999 fine silver coin with the stunning 20th Anniversary Liberty Dollar design. LD2.zero coins are now even scarcer, with less than 3,000 remaining for purchase. In addition to their crowdsale, LD2.zero is currently listed on the Alcor decentralized exchange and the tokens (with the physical silver ownership) can be transferred peer-to-peer through WAX-compatible wallets with no transaction/gas fees.
Built on an Amazing Legacy
The original Liberty Dollar certificates were backed by real gold and silver coins. Created in 1998 by Bernard von NotHaus, a world-renowned alternative currency pioneer, over US$50 million worth of Liberty Dollars entered circulation during its first decade. In all, Liberty Dollar served over 250,000 users and was accepted by more than 5,000 merchants in all fifty states. The Liberty Dollar eventually went on to secure the title of being the single most popular alternative currency in the United States.
The Liberty Dollar’s massive popularity attracted the attention of the US government well before Bitcoin upended the global perception of alternative currencies. However, following a ten-year legal battle, Bernard walked away a free citizen with just a slap on the wrist, while federal prosecutors were forced to return the lion’s share of Liberty Dollar assets seized in their initial raid to the certificate holders. This represented a major win for alternative currency holders and cryptocurrency users around the world.
The legacy of the Liberty Dollar and its amazing history is expected to be mirrored by the global reach of LD2, co-founded by Bernard’s son, Extra von NotHaus, and former Regional Currency Officer for the original Liberty Dollar, Steven Brendtro.
More Coins & NFT 2.0: Real-world value coming to NFTs
Following the imminent sale of the remaining limited-edition LD2.zero tokens, LD2 will launch open-ended versions of silver and then gold coin-backed digital tokens, named LD2.silver and LD2.gold, respectively. These tokens, as with all tokens issued on the LD2 protocol, will be backed by fine quality coins, but with different designs than the limited-edition version. An LD2-developed and patented real-time physical asset-backed debit card is also in the works for future release.
LD2 also directly benefits from launching on the NFT-centric WAX blockchain, home to popular creators such as Topps, Funko, and Marvel, along with game platforms Alien Worlds, Farmers World, Splinterlands, and HodlGod. The NFT space is booming with growth and innovation, but it notoriously suffers from inherent risk — NFTs can lose all of their value at any time. That is, until now:
LD2 is on the bleeding edge of next-generation NFT 2.0 technology. Unlike other backing options that rely on empty, fiat tokens which become equally worthless in a market correction, LD2 attaches warehouse receipts directly to NFTs, which directly ties the NFT to vaulted physical precious metal. Ownership of the attached warehouse receipt can be easily transferred from person to person, as with any LD2 protocol token. The NFT 2.0 solution now carries real-world value and has become a price-stable asset.
It should come as no surprise that NFT owners are excited about bringing real-world value to their NFTs, especially to games that pay rewards. LD2 can make this happen by not only issuing ultra-collectible silver-backed LD2 NFTs, but also offering the physical backing to existing NFTs from other content creators and establishing itself as the in-game currency of choice for NFT gaming platforms.
“Our vision is to create the ultimate form of crypto-liquidity backed by real gold and silver that belongs to the users,” said Extra von NotHaus. “We are proud of LD2.zero, and look forward to taking the next step and launching LD2.silver very soon. LD2.silver will allow far more individuals to take advantage of real, value-backed money and the benefits that brings to society, along with even more as we expand into the NFT space.”
LD2.zero tokens are now available for purchase with WAX tokens.
“LD2 is certainly the best product of its type in the world and we have the best, most experienced team to execute its success,” Extra von NotHaus said.
About LD2 LLC
LD2 LLC is an American company founded in 2018 with the mission of re-popularizing value-backed money as a silver and gold coin-backed digital token protocol and cryptocurrency. Physical coins are secured in an insured and audited vault, guaranteed to back digital LD2 tokens on a 1:1 ratio. A limited edition silver coin-backed LD2.zero coin is available for sale now, with less than 3,000 coins remaining. Following LD2.zero, silver coin-backed LD2.silver tokens will be made available as uncapped issuances on cryptocurrency exchanges.
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