Liberland LLD (LLD) Tokenomics

Liberland is a country founded in 2015 on a terra nullius between Croatia and Serbia, with its founders being enthusiasts of blockchain and liberty. The goal of the Liberland Blockchain is to provide all e-government services to its citizens via a Substrate-based blockchain system, with governance as its first use case.

The Liberland Blockchain is designed as a layer 1 public blockchain, governed by the holders of its native tokens, the Liberland Dollar (LLD) and Liberland Merit (LLM). The system also supports Non-Fungible Tokens (NFTs) representing land and other assets, and implements a decentralised identity solution.

Liberland Blockchain is a layer 1 public blockchain owned by holders of LLD but governed by the holders of LLM. The codebase is a fork of Substrate/Polkadot distributed under the MIT License, the same as Bitcoin. Liberland does not claim ownership of the blockchain or related materials.

The blockchain allows permissionless usage of tokens and coins as a store of value or medium of exchange. Advanced functionalities critical to the project's future are permissioned. DeFi projects on the Liberland chain are not permissioned unless designed and designated as such by third-party developers on a per-project basis.

In the future, it will support an online judiciary system, enabling non-smart but self-executing contracts on the blockchain with the judiciary as an oracle. The judiciary will also enable features like account recovery and recourse against fraud and theft.