Lino FAQ

What is LINO?

LINO is a decentralized cryptocurrency representing the fundamental unit of value of the Lino Blockchain.

What are validators and what do they do?

Lino Blockchain relies on a set of validators to secure the network. The role of a validator is to run a full node and participate in consensus by broadcasting a cryptographic signature signed by its private key. Validators verify messages and commit new blocks to the blockchain and receive message fees and Validator Rewards in return.

What is voting for validators?

Voting on features of the network is required to claim your LP rewards. Your total votes is equivalent to the amount of your Locked Points. You can vote for at most 3 validator candidates. If you vote for multiple validator candidates, your votes will be evenly divided and counted for each validator candidate. The top 21 validator candidates with the most votes will be selected to the Validator Set.

Which validators should I vote for?

It is your responsibility, as a Locked Point holder, to select the reliable validators to secure the Lino blockchain. Check the bio link of each validator candidate and know who they are before voting.

How to become Validator

Running a validator requires a minimum amount of LINO Stake and technical skills. More details can be found here.

How to participate in Lino Blockchain governance system?

Any LINO Stake holders can participate in the governance system to vote on features of the network.

What are LINO Stake? (How to stake in & stake out & claim rewards)

LINO Stake(LS) holders are the owners of Lino Network. LS holders can receive Voting Rewards by voting for the blockchain updates and validator election.

LINO Stake is a staking feature of LINO. By Staking in your LINO, your can convert LINO to LINO Stake immediately. However, it takes 12 weeks, called the Pending Period, to stake out your LS back to LINO completely. During the Pending Period, 1/12 of your LS will be converted LINO each week.

What is Content Rewards and how to claim

Content Rewards are issued by the Lino blockchain to the content creators on Lino Apps. For example, after a streamer on DLive receiving any donation on a live stream, this streamer will receive Content Rewards after 7 days. The Content Rewards will be sent to content creator's account directly. No need to claim.

How does the transaction fee work?

Lino blockchain has a Hybrid Fee Model. All the in-app messages, such as donating IDA and creating posts, are free. However, all the wallet messages, such as transferring LINO, Staking in, Staking out, and Voting, are subject to fees. The specific amount of fee is based on the current number of messages in a block. In other words, the busier the blockchain, the higher the fee is. Normally, it won't cost more than 0.5 LINO. More details can be found here.

Is my password or private key stored on the Lino Wallet server?

Lino Wallet does not store users' private keys nor users' passwords. Lino Wallet only store the encrypted private key by user password. Whenever a user logs in to Lino Wallet, the encrypted private key will be retrieved from the server and decrypted by the user's password in the user's browser. In other words, Lino Wallet does not have access to any user's Lino account.

What if I lose my wallet password?

You can reset your password by login with Recovery Phrase.

Since Lino Wallet does not store any of the user credentials. We cannot recover your Lino account if you lose both password and Recovery Phrase.

What is Recovery Phrase?

The Recover Phrase is a 12-word mnemonic which is a user-friendly form of your private key. It's the ONLY way to recover your Lino account if you lose your password.

What is IDA and its relationship with LINO?

IDA, or In-app Digital Asset, is a Lino App developer issued coin, that can be used only on that Lino App. 9.9% of any donation in IDA will be automatically converted to LINO and distributed to LINO Stake holders as Voting Rewards via secondary smart contracts. More details can be found here.