About the Coin

LockTrip is a blockchain-based travel marketplace designed to disrupt the travel industry by offering significant savings on bookings. By eliminating middlemen and their commissions, LockTrip allows users to save up to 60% on their travel expenses. The platform supports various payment methods, including credit cards, popular cryptocurrencies, and its native LOC token, which helps users bypass payment fees.

Main Features

LockTrip boasts a vast inventory, working with leading brands in the travel industry to provide first-class options for its customers. With over 2.1 million hotels and properties, as well as more than 1,000 airlines to choose from, LockTrip offers a comprehensive one-stop-shop solution for booking both hotels and flights. The platform's unique reverse-auctioning model ensures that customers always receive the lowest possible prices.

How it Works

The LOC token is central to LockTrip's business model, with the entire economy funneled through it. Each booking made on the marketplace results in 3% of the booking value being used to purchase LOC from exchanges and subsequently burn them. This automated process is transparent and verifiable on the blockchain. The deflationary model of the LOC token means that its supply is continuously shrinking with each booking and subsequent burn, a mechanism that will persist indefinitely. LockTrip operates on the Hydra chain, which combines the best features of Bitcoin, Ethereum, and Qtum chains, offering cutting-edge technology with unique economic features.