Litentry Crowdloan allocates 20% of the total LIT supply and cooperates with Binance to provide an additional 2.5 million USD reward pool – Press release Bitcoin News
Press release. Litentry, a decentralized identity aggregation protocol, revealed its launch Crowd Loan Incentive Program It is scheduled to go live on November 4, 2021. Upcoming Polkadot Parachain auction.Join the crowdfunding Binance Now you can enjoy 20% of the total supply of LIT (20,000,000 LIT) and an additional 2.5 million USD reward pool, approximately. As of November 4, APY was 2760%.
An innovative crowd loan program
Crowdfunding is a growing trend for projects to obtain sufficient funds to participate in Polkadot’s parachain auctions. Participants make contributions within a specified time by putting DOT in a crowdfunding vault stored on the blockchain.
Compared with other projects, Litentry has designed an innovative crowdfunding system to motivate contributors. To this end, Litentry has allocated 20,000,000 LIT tokens, accounting for 20% of its token supply, as a basic reward for crowd lending activities.Interested participants must lock their tokens in a crowdfunding pool before December 17, 2021, which has Hard cap 8,000,000 DOT, It has no slot 1 competitors. This hard cap will ensure that the DOT rewards received by each participant will not be diluted after the staking DOT reaches a safe winning amount.
Contributors need to pledge at least 5 DOT to the crowd loan pledge pool to be eligible for rewards. The mortgage pool will be locked for 96 weeks. Once the Litentry parachain is connected to the Polkadot relay chain, reward distribution will begin.
Litentry will reward participants with at least 12.5 LIT tokens for every 5 DOT pledged. Contributors can also get an additional 10% bonus by staking their tokens before the parachain auction, or receive a 5% bonus during the first 7 days of the parachain auction. In addition, there will be an additional 10% identity-related bonus, which will be announced soon. The total reward given to supporters is 24% of the LIT supply.
Participants can bet Binance Enjoy now Warm-up promotion 1 week warm-up promotion will get an extra prize pool 500,000 LIT plus liquidity BDOT.
Litentry also cooperates with DeFi platform Frost with Parallel finance Provide loan options for crowd lending contributors. Users can contribute to the Litentry crowdfunding pool from both platforms and receive rewards of LIT tokens + liquid DOT derivatives.
Polkadot parachain auction is of great significance to the Litentry ecosystem
Litentry is a privacy protection DID aggregator that provides unique functions in the ecosystem and provides liquidity, interoperability and consistency for multi-chain identity data. Becoming a parachain can maximize the efficiency of sharing identity data between Litentry and other parachain projects.
Through aggregated cross-chain identities, blockchain projects will be able to provide dedicated hierarchical identity services to support the next generation of Web 3.0 services. For example, Litentry can be deployed and used to calculate individual credit ratings to facilitate analytical DeFi services. Through all on-chain activity data collected by Litentry on various addresses, users can generate proofs in a decentralized manner by submitting addresses for IDO/airdrop whitelisting and other activities.
The potential of Litentry is endless, and users can become part of this innovative agreement by staking their DOT in a crowdfunding pool. In addition, the 96-week pledge period is also an excellent long-term investment for contributors, who will generate value from their DOT tokens and receive LIT tokens as a reward for their pledge.
Litentry is a decentralized identity aggregation protocol that can run across multiple networks. It has a DID index mechanism and a substrate-based credit calculation network. Litentry also provides decentralized and interoperable identity aggregation services to reduce the difficulty of solving the unknown DID mechanism.
Litentry has developed an innovative ecosystem through which users can manage their identities, and dApps can obtain real-time credit/reputation of identity owners across multiple blockchains.
You can follow the latest updates of Litentry using the following link:
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