@lpt #lpt $LPT

LPT (Livepeer Token) – Definition (500+ characters):

LPT is the native utility and governance cryptocurrency of the Livepeer network, a decentralized video infrastructure protocol built on the Ethereum blockchain. It is primarily used to coordinate and secure the network by enabling users, known as orchestrators, to stake tokens and perform video transcoding tasks, which involve converting video into different formats for streaming across devices. In return, these participants earn rewards in LPT and fees from users of the network. LPT also plays a key role in governance, allowing token holders to vote on protocol upgrades and decisions. By removing reliance on centralized streaming services, LPT helps power a more open, cost-efficient, and censorship-resistant video streaming ecosystem.