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What Is Liberland And Why Has Justin Sun Just Been Named Prime Minister?

What Is Liberland And Why Has Justin Sun Just Been Named Prime Minister?

99bitcoins99bitcoins2024/10/11 13:45
By:AlexSam Cooling

The micro-nation of Liberland has made Tron founder Justin Sun its prime minister, and with Elon Musk’s backing, it could become a crypto haven.

Liberland is a micro-nation and largely theoretical European state concocted by right-wing libertarians in 2015. The nation has announced Tron founder, Justin Sun as its new Prime Minister. This has been done ‘in accordance with the governance principles deployed on Liberland Blockchain.’

The micro-nation claims 2.7 miles( 7 km2) of uninhabited floodplain on the Danube Rivers West Bank and is currently being contested by Croatia and Serbia. Liberland is not currently recognized by a single nation around the world, and a number of self-titled citizens of the micro-nation have even been arrested by Croatian authorities for trespassing.

Yes he was, in accordance with the governance principles deployed on Liberland Blockchain! Only citizens with staked $LLM can vote, and this is the will of LL’s citizens. Thanks for the coverage @TheBlock__ . 🟡⚫️ Congrats to the new congress. https://t.co/mPEvIhxOMQ

— Liberland (@Liberland_org) October 10, 2024

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Liberland To Be A Crypto Haven? It Already Has Its Own Blockchain And Two Tokens

Even with its fragile claims, the founders of Liberland are persisting with its goals. They claim to have already onboarded 1,000 digital citizens, as they push toward its goals of establishing a libertarian utopia.

Those in charge of Liberland have been keen to market the would-be nation as a crypto haven. It has its own ‘Liberland Blockchain’ along with two native tokens to power the network.

Damn, didn't realise $LLD was the actual "National Currency" of Liberland

Probably good to load up on dips, but $5m for the currency of a country that @justinsuntron is the Prime Minister of….

Feels like long term it could cook

CA: 0x054c9D4C6F4EA4E14391addD1812106c97D05690 https://t.co/DjON0laonU pic.twitter.com/AwNUxyFuFa

— Liam | Defi-Ant Degen (@defi_ant_degen) October 11, 2024

There is a ‘political’ token, $LLM (Liberland Merit) and an ‘operational token’, $LLD (Liberland Dollar). The LLD token has already been trading on the market for around $3.8 while LLM is still in presale and can be purchased via donations on the Liberland website.

The Liberland Blockchain network will be used to pass crypto-friendly legislation and establish “decentralized hyper democracy” for citizens via on-chain voting mechanisms. A Reuters report from last year claimed that Liberland holds 99% of its currency reserves in Bitcoin. With Justin Sun now on board, it will be interesting to see whether his TRX token makes its way onto the Liberland currency reserve balance sheet.

Sun’s Role As Prime Minister Of Liberland: Legit Or A Nothing Burger?

Many friends have recently asked me about my involvement with @Liberland_org , and I am indeed very happy to see the community elect me as the Prime Minister of Liberland.

My understanding of Liberland is as follows: Liberland is not just a country; it is a manifestation of a…

— H.E. Justin Sun🌞(hiring) (@justinsuntron) October 11, 2024

Justin Sun’s role as Prime Minister of Liberland will be to lend authenticity to the project and make Liberland a reality. Last year, Sun was stripped of a similar role as ambassador to the World Trade Organization (WTO) for the tiny Caribbean island nation of Grenada.

Sun posted a statement regarding the announcement to his X account.

“As Prime Minister, I aim to actively promote the idea of small government within Liberland and as a model for the world. Our success can inspire other nations to embrace libertarian principles, demonstrating that a minimalist government can bring stability and prosperity without excessive regulation or coercion. By upholding this approach, we will further Liberland’s status as a beacon of freedom and individual autonomy,” he said.

In the same statement, he names Argentinian president Javier Milei and US Congressman Ron Paul as allies to the Liberland vision. He also names X owner and Tesla founder Elon Musk as someone who ‘shares the belief that individual freedom and minimal government interference are essential for fostering creativity, progress, and prosperity.’

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

 

 

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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