Create
Receivers and above mint tokens into the Community's account.
Give your Community its own economy.
Every Community has its own Community Token for internal transfers, services and community-driven economic activity.
Communities can issue and manage their own token, while members can receive and transfer it within the network.
All blockchain operations use $LOCA for network transaction fees. The Community pays these fees for its members, who can use Community services without managing network fees themselves.
Community Token = your Community's economy.
$LOCA = the native token of the Locality Network.
What a Community can do with its token
Send
Senders and above send from the Community's or a Team's account, or mint and send straight to a member. Members can always send their own tokens.
Burn
Senders and above destroy tokens held by the Community's account. Receivers cannot.
Hold
The Community, each Team and each member have an account of their own.
- Community mints its token
- Held in the Community's account
- Sent to a member or Team
Fees paid by the Community
Because the Community pays network fees for its members, the scope's own account gives each member an allowance when they join. It covers their votes, bookings and community actions, and the fee is paid in $LOCA. Owners and admins can refresh the allowances of a whole scope.
- Community's account
- Allowance for each member
- Vote, booking, or other action
- Fee paid in $LOCA
A town's local economy
An example of what a Community Token can do, with a town as the Community.
Create the Community
The town creates a Community and, with it, its own Community Token.
Send vouchers or rewards
It mints tokens and sends them to residents, as vouchers for local shops or rewards for taking part.
Shops join
Participating shops can be a Team of the Community, with an account of its own to receive tokens.
Residents decide
Residents vote on which programs the town runs with the token.
Build what your organization needs.
Experience Locality through the Easy App, or build your own application on the network.
Experience the organization, not the blockchain.