What is Livepeer? Information about LPT Token

Table of Contents

What is Livepeer?

Livepeer (LPT) is an infrastructure platform designed to facilitate the development of decentralized livestream video applications. The platform aims to provide developers with the freedom to create their own applications, ensure independence and eliminate third-party dependencies for content creators, and offer viewers the ability to choose their own viewing experiences.

Livepeer is a more economical solution for live video streaming because it allows video content to be processed and stored on the blockchain instead of relying on centralized storage solutions like cloud services. Livepeer believes its platform can reduce the resource costs of video processing and encoding by up to 50 times compared to traditional methods.

How Does Livepeer Work?

Built on Ethereum, Livepeer is essentially a network that connects anyone needing video processing with providers of such services. It uses the native LPT token to incentivize network participants, ensuring that the video transcoding process is reliable, secure, and affordable compared to current centralized solutions.

There are two main stakeholders in the Livepeer network: orchestrators and delegators.

Orchestrators: Anyone with video mining equipment can stake their LPT and perform video processing work on the Livepeer network. In return for providing this service, they receive a portion of video processing fees in the form of LPT and ETH. These network participants are called orchestrators or coordinators.
Delegators: Those who do not have access to video mining tools or video processing expertise can still participate in the network by delegating or assigning their LPT to a node operator with the appropriate tools and expertise to process video via Livepeer Explorer. These network participants are called delegators.

Key Features of Livepeer

Due to its blockchain-based technology, Livepeer has several advantages over traditional platforms:

Decentralization: Livepeer is not controlled by any organization or individual, operating entirely autonomously on the blockchain.
Easy Integration: Application developers can quickly and easily integrate Livepeer’s infrastructure into their applications through the platform’s provided API.
Flexible Scalability: Developers can freely adjust their application’s scalability to suit user demand, helping save on operational costs.
Affordable Pricing: Livepeer offers services similar to traditional organizations but at much lower costs.

Team

The Livepeer development team consists of 8 members, with two key leaders:

Doug Petkanics: CEO of Livepeer. He was previously the VP of Engineering at Wildcard and co-founder of Hyper Public, a global local data organization platform, acquired by Groupon in February 2012.
Eric Tang: CTO of Livepeer, who has worked closely with Doug Petkanics throughout their careers at Hyper Public, Wildcard, and now Livepeer.

Investors

Livepeer has raised a total of $51 million across four funding rounds with participation from various investment funds like Notional Capital, Turing Capital, Pantera Capital, Multicoin Capital, and more.

February 16, 2018: Raised $3 million in a seed round from BoxGroup.
June 17, 2019: Raised $8 million in a Series A round led by Northzone.
July 29, 2021: Raised $20 million in a Series B round led by Northzone.
January 5, 2022: Raised $20 million in a Series C round led by Tiger Global Management.

What is LPT Token?

After learning about Livepeer, let’s dive into the LPT Token.

Basic Information about LPT Token

Token Name: Livepeer
Token Symbol: LPT
Blockchain: Ethereum
Smart Contract: 0x58b6a8a3302369daec383334672404ee733ab239
Total Supply: 33,216,202 LPT
Circulating Supply: 33,216,202 LPT

LPT Token Allocation

Airdrop: 63.4%
Pre-sale: 19%
Team: 12.3%
Development Fund: 5%
Early Advisors & Contributors: 0.3%

LPT Token Release Schedule

All tokens are fully unlocked but can increase in the future due to staking, etc.

Uses of LPT Token

Staking: Delegators can stake their LPT tokens to support Orchestrators in the network.
Governance: LPT holders can participate in network governance by voting on protocol proposals.

Where to Trade LPT Tokens?

Currently, LPT Tokens are traded on major exchanges such as Binance, OKX, and Coinbase.

Roadmap

Updating

Similar Projects

Livepeer is a DePIN category project similar to Filecoin, io.net, Aethir, and others.

Project Information Channels

Website: https://livepeer.org/
Twitter: https://twitter.com/Livepeer
Discord: https://discord.com/invite/RR4kFAh

Conclusion

This article has provided information about what Livepeer is and the LPT Token. If you have any questions, please leave a comment below for an immediate response!