Instead of an initial coin offering (ICO), the company will be offering LINK for free to users when they complete certain activities. According to Line, the tokens can be used to buy stickers, webtoons, and other services on the app. The token will also be listed on Line’s own cryptocurrency exchange, Bitbox, and could be traded with other cryptocurrencies.
The Line Corp will release 800 million tokens to users as part of the rewards system, to incentivize users to participate more on their messaging app. Though a reserve of 200 million will be maintained by the platform. For regulatory reasons, the coin will not be available for users in Japan and the United States.
