The LBC Premine is what we call the 400 million LBC’s, or 40% of the 1 billion LBC’s which will ever exist.
These 400 million premined LBC’s are planned to be used for:
- Operational Fund for LBRY Inc.
- Community Fund (200 million)
- Institutional Fund (100 million)
Read more in LBRY Inc’s Credit Policy.
LBRY Inc. is distributing LBC’s to any people who help with app development or anything that helps LBRY reach their vision.
LBRY-C Team, namely us who made this website are also funded by this pre-mine.
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We were funded through https://lbry.fund.
Who Controls the Premine?
LBRY Inc, the company that made the LBRY Protocol are in control of these LBC’s.
So far, LBRY Inc. has been very careful about using these LBC’s these last two years, so we at LBRY-C Team trust them to continue this responsible management of funds.
However, we wish that in the near future that these funds do not remain in control of a single entity, but is distributed between many other, still responsible entities.
Maybe even a LBRY Foundation?