Dear Community and Investors,
Welcome to yet another Project Update from Data Lake! We’re thrilled to bring you the latest news on our exciting developments and strategic moves as we continue to shape the future of the LAKE ecosystem. August has been a month of significant accomplishments, with groundbreaking initiatives that are set strengthen LAKE appeal and tokenomics. As usual, there’s a lot to mention so let’s get right to it!
💥 Three Milestones achieved for LAKE!
Launched in December, 2022, $LAKE is the ERC-20 token that boosts the ecosystem Data Lake has created to enable the collaboration and exchange between data donors and researchers. As Data Lake recently concluded its first data sale successfully, our team decided to celebrate such achievement by executing the first LAKE buyback and delivering a massive supply burn as well as a rewards program for LP stakers.
Let’s dig in:
🔥 Data Lake has Burned 66% of the total supply of LAKE, forever!
To remove excess supply, enhance LAKE’s appeal to new investors and value to existing ones, and to rebalance its tokenomics given the market maturity we have acquired in the past several months, we have removed from the supply through a token burn 66% of the total supply of LAKE!
The burn transaction is public and can be seen by anyone here: https://etherscan.io/tx/0x26b457d561ab9788802e6af7da9e86dfbbcad950f454cd6d3d9c4f2970bd5450
For a deeper reading on the rationale of the burn and on its consequences, check out our blog article!
✅ We have completed our first inaugural LAKE Buyback!
Thanks to our deal with an innovative Polish healthcare startup, we have used 3 ETH to complete our first and inaugural buyback of 1,469,744 $LAKE from the market! We hope that this buyback can serve as a proof that everything we do on the business point of view every day with our stakeholders, eventually reflects directly on LAKE.
As with the burn, the buyback transaction is publicly available here: https://etherscan.io/tx/0xc1214e9cd704558f0a067b519c67a4c40f5e67570791dc4221576235b49f8633
Check the full article on the news here: https://data-lake.co/2023/08/23/data-lakes-first-data-sale-and-inaugural-lake-buyback/!
🌊 We have launched the LAKE Token Liquidity Provider Rewards Program!
Last but not least, Data River – our partner, has assigned a pool of 60 million LAKE to LP incentives program. In particular, starting from the 30 August, 60 million LAKE tokens are being assigned linearly for 12 months to those who create LAKE-ETH Uniswap V3 LPs and stake them on our dapp: https://app.data-lake.co!
For more information on the program, check out our blog article: https://data-lake.co/2023/08/30/enhancing-liquidity-introducing-the-lake-token-liquidity-provider-rewards-program/ and stay tuned for a detail tutorial on how to become a liquidity provider and adhere to the incentives program!
🗞 Media Presence
📺 Ligia Kornowska talked about data donation live at Polsat News!
Ligia Kornowska, Chairman of the Board at Data Lake, has been extended a prestigious invitation to share her insights on the vital topic of data donation live on live on “Punkt Widzenia,” a highly regarded television program featured on the prominent “Polsat News” Polish TV channel! Ligia Kornowska’s appearance shed light on the significance of data donation and its potential to drive positive change in our society.
Her interview was also shared on YouTube, click here to watch it: https://www.youtube.com/live/wtEy4s5tmrw?si=Oep3Td34iPALr9Gy&t=1731.
💬 We hosted 2 AMAs with the Founders!
We also recently held two Ask Me Anything (AMA) sessions to keep our community well-informed and connected.
- 🇬🇧 First, we conducted our 7th AMA with the founders in English on X Space. During the call, we delved into the remarkable progress we’ve made since our last AMA. In particular, our founders shared insights, updates, and visions for the future, while also addressing questions from our community.
- 🇵🇱 Additionally, we hosted our very first AMA in Polish on Telegram. In this session, we focused on the three token upgrades that have been eagerly anticipated. Watch the recording of the event here: https://www.youtube.com/watch?v=KUQhZeMafNM.
🔚 Closing Thoughts
August has been a month filled with remarkable achievements and significant milestones for the Data Lake ecosystem! With the successful completion of our first data sale, we proudly completed our inaugural buyback and executed a substantial LAKE token burn, removing 66% of the total supply! These, together with the LP incentives program, demonstrate our deep commitment to the continuous growth and prosperity of LAKE.
We appreciate your ongoing support and look forward to the exciting journey ahead. Stay connected and stay tuned for more updates from Data Lake!
The Data Lake team.