@lagrangedev #lagrange $LA

Lagrange (LA) is the native utility token of the blockchain project launched by Lagrange Labs. Here is relevant information about it:

- Project Positioning and Technical Highlights: Lagrange is a cutting-edge modular infrastructure protocol that utilizes zero-knowledge (ZK) cryptography to achieve verifiable computation and secure interoperability across blockchains. It combines a decentralized network of zero-knowledge provers and ultra-parallel ZK co-processors to provide an infinite proof layer, eliminating blockchain scalability bottlenecks, and enables gas-free, verifiable computation on historical blockchain data, unlocking complex DeFi and analytical use cases.

- Token Functions:

- Payment of Fees: Clients pay proof generation fees using LA tokens.

- Staking Delegation: Provers stake LA as collateral to ensure network security; token holders can delegate LA to provers to earn rewards.

- Participation in Governance: LA holders have voting rights in the decentralized autonomous organization (DAO) of the Lagrange Foundation, influencing protocol decisions.

- Token Economics: The total supply cap is 1 billion tokens, with an annual emission rate of 4%. In terms of distribution, approximately 34.78% is allocated for community and ecosystem growth, 25.39% to contributors, 18.54% to investors, 11.30% to the foundation, and 10% reserved for airdrops.

- Market Performance and Dynamics: After Binance announced the addition of Lagrange to its services, the LA price dropped from a seven-day high of $0.676 on July 9 to $0.416 at a certain moment after the announcement, a 32% decrease within 24 hours. However, following support from Coinbase, LA's price surged by as much as 216% from $0.253 to a peak of $1.50 between June 4 and June 5. Additionally, the Lagrange Foundation tweeted that it has noticed LA's price fluctuations and may repurchase LA tokens in the future to stabilize the price. The repurchased tokens will be held by regulated custodians or first-tier brokerage accounts to support the Lagrange Foundation, the protocol, and its ecosystem development.