LINE jumps on the exchange token trend and launches its own token

LINE, the Japanese messaging platform, announced that it is launching its own token (LN) for trading against multiple cryptocurrencies on Bitbox, its cryptocurrency exchange. Bitbox was announced in June 2018 and began operations in July 2018. Exchange tokens enable exchanges to incentivize traders to use their platforms through discounts, voting mechanisms, and a slew of additional benefits. Some of the largest cryptocurrency exchanges have launched their own exchange tokens. Below are some exchange token metrics gathered by The Block.

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Exchange token distribution: