LBRY Credits (LBC)

LBRY Credits

Total supply	437,203,009 LBC

Basics

• Based in:
• Started in / Announced on:
• Testnet release:
• Mainnet release:
• “Watch, read and play in a decentralized digital library controlled by the community."

History

• From Decrypt (1-12-2022):

"In Monday tweets, LBRY, Inc. said it had been “killed by legal and SEC debts.” In a followup tweet, the company made clear that it is LBRY Inc that “must die” though the “LBRY protocol and blockchain will continue.”"

Audits & Exploits

• Bug bounty program can be found [insert here].

Token

Launch

• From Decrypt (1-12-2022):

"LBRY, Inc. sold digital assets in the form of LBC tokens to fundraise for the platform from at least July 2016 to February 2021, the SEC said. In March of last year, the SEC alleged that LBRY received $12.2 million from the token sales—but didn’t register it as a security. "

Utility

• People can pay creators in LBRY Credits to view uploaded content.

Technology

• Whitepaper can be found [insert here].
• Code can be viewed [insert here].

Compliance

• From Decrypt (1-12-2022):

"In Monday tweets, LBRY, Inc. said it had been “killed by legal and SEC debts.” In a followup tweet, the company made clear that it is LBRY Inc that “must die” though the “LBRY protocol and blockchain will continue.”"

• SEC won the summary judgment against LBRY for not registering their token sale as a security offering (7-11-2022).
• From Decrypt (30-3-2021):

"The Securities and Exchange Commission (SEC) has charged crypto firm LBRY with selling unregistered securities. According to the SEC before developing the network, it sold the tokens as investment contracts, with the assumption that their value would go up. All told, alleges the SEC in a complaint filed today in a US District Court, "LBRY received more than $11 million in U.S. dollars, Bitcoin, and services from purchasers who participated in its offering. The SEC is seeking a permanent injunction against the company and its employees as well as civil penalties and disgorgement."

Roadmap

• Updated (2-2020) their roadmap for 2020 at the start of a new bull market. For the whole list, check the link itself.

Decentralize Organization

"LBRY as a protocol is decentralized, but it's organization is still fairly centralized.

While the incentives of the LBRY Inc. are fairly closely aligned with the success of the LBRY protocol itself, they are not necessarily perfectly so.

A community-owned non-profit organization increases stakeholders that care about LBRY and gives a name, place, and framework for anyone who want to build on or with LBRY. It also reduces potential conflicts of interest LBRY may face in terms of community organization and community management.

Success

1. Launch a separate organization with a seed amount of LBC that is owned by community members of the LBRY protocol.
2. If successful, create a program for creating more of these, especially for different countries, cultures, or regions."

Usage

• Reached 750.000 users (28-4-2020).

Team, Funding, Partners

Team

• Full team can be found [here].
• LBRY Inc. shut down (20-10-2023).
• Grintsvayg, Alex; Founder & CTO
• Kauffman, Jeremy; Founder & CEO
• Finer, Josh; Founder & Chief operations & Growth Officer
• Robison, Jack; Founder. Core Developer
• Kiselak, Jimmy; Founder. Core Developer

(:

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