itcoin">Bitcoin Startup Lab, a pre-accelerator firm based in San Francisco that nurtures itcoin">Bitcoin startups, has introduced its own community-centric BRC-20 token called LABB. The total supply of LABB is capped at 21 million, mirroring itcoin">Bitcoin’s fixed supply. The goal is to incentivize and empower innovators looking to build itcoin">Bitcoin-focused startups.
According to Founder Albert Liang, the launch of the LABB token marks a pivotal moment in itcoin">Bitcoin Startup Lab’s mission to cultivate a supportive community of itcoin">Bitcoin entrepreneurs. He emphasized that they are providing more than just tools – they are building a robust community focused on collaboration, innovation, insights, and assistance for those wanting to create itcoin">Bitcoin-related businesses.
The debut of LABB comes alongside growing interest in itcoin">Bitcoin-based BRC-20 tokens that have emerged over recent months. Of the total supply, 60% goes to the community, 20% enters the Treasury, and 20% splits evenly between early investors and itcoin">Bitcoin Startup Lab’s core team.
While similar to other BRC-20 tokens in some ways, LABB is designed to function as a digital asset that could enable greater functionality for holders in the future. For example, it may transition to layer 2 smart contracts over time. itcoin">Bitcoin Startup Lab envisions LABB representing a high-quality community of itcoin">Bitcoin innovators leading the way for utility tokens that provide real value backed by proven teams with actual business models.
Initially, LABB will be available through a Whitelist program for eligible members such as aspiring entrepreneurs and designers with valid LinkedIn profiles. Whitelisted participants can claim 300 free LABB tokens after paying a small claim fee. They also stand to earn an additional 1,200 LABB tokens by successfully referring two other entrepreneurs to join the community, at 600 tokens per referral. However, the free and referral LABB tokens are restricted to only the first 500 whitelist participants.
