Litentry Crowdloan Allocates 20% LIT Total Supply and Partners With Binance With Extra $2.5M Reward Pool – Press launch Bitcoin News

PRESS RELEASE. Litentry, a decentralized id aggregation protocol, has revealed the launch of its Crowdloan Reward Program scheduled to go dwell from November 4, 2021. This represents a big growth in its quest to win a slot forward of the upcoming Polkadot parachain public sale. Join the crowdloan on Binance now to take pleasure in 20% LIT (20,000,000 LIT) complete provide with an additional $2.5M reward pool, with approx. 2760% APY as of Nov 4.

An Innovative Crowdloan program

Crowdloan is a rising development taken by tasks to obtain sufficient funding to take part in Polkadot’s parachain public sale. Participants contribute by staking DOT right into a crowdloan vault saved on the blockchain for a delegated interval.

Compared to different tasks, Litentry has designed an revolutionary crowdloan system that incentivizes contributors. To this impact, Litentry has allotted 20,000,000 LIT tokens representing 20% of its token provide as fundamental rewards for the crowdloan marketing campaign. Interested individuals have till December 17, 2021, to lock their tokens within the crowdloan pool, which has a hardcap of 8,000,000 DOT, which none of it’s slot 1 opponents has. This hardcap would make certain the DOT rewards every participant will get won’t be diluted after the staking DOTs reaches a secure successful quantity.

Contributors might want to stake a minimal of 5 DOT into the crowdloan staking pool to be eligible for rewards. The staking pool shall be locked for 96 weeks, and rewards distribution will start as soon as the Litentry parachain connects to the Polkadot relay chain.

Litentry shall be rewarding individuals a minimal of 12.5 LIT tokens for each 5 DOT staked. Contributors may also get an extra 10% bonus by staking their tokens earlier than the parachain public sale or a 5% bonus through the first seven days of the parachain public sale. Also there shall be an additional 10% id associated bonus which shall be introduced quickly. Giving supporters a complete reward of 24% of LIT provide.

Participants can stake on Binance now to take pleasure in a Warm-Up promotion 1-week Warm-Up promotion will obtain an additional pool of 500,000 LIT plus liquidity BDOT.

Litentry has additionally partnered with DeFi platforms Bitfrost and Parallel Finance to offer lending choices for crowdloan contributors. Users can contribute to Litentry crowdloan pool from each platforms and obtain rewards in LIT tokens + liquidity DOT derivatives.

Polkadot Parachain Auction is big for Litentry ecosystem

Litentry is a privacy-Preserved DID Aggregator that serves distinctive features within the ecosystem & offers liquidity, interoperability and consistency for the multi-chain id information. Becoming a Parachain maximizes the effectivity of sharing id information between Litentry and different Parachain tasks.

With an aggregated cross-chain id, blockchain tasks will be capable to provide devoted graded id companies to energy next-generated Web 3.0 companies. For instance, Litentry may be deployed and used to calculate a person’s credit standing to facilitate analyzed DeFi companies. With all of the on-chain actions information aggregated by Litentry on particular person addresses, consumer’s can generate proof in a decentralized method by submitting the addresses for actions like IDO/airdrop whiteslisting.

The potentials of Litentry are infinite and customers can turn into a part of this revolutionary protocol by staking their DOT within the crowdloan pool. In addition, the 96 weeks staking interval additionally represents a wonderful long-term funding for contributors who will generate worth from their DOT tokens and obtain LIT tokens as rewards for his or her stake.

About Litentry

Litentry is a decentralized id aggregation protocol that features throughout a number of networks. It contains a DID indexing mechanism and a substrate-based credit score computation community. Litentry additionally offers a decentralized, interoperable id aggregation service that reduces the issue of resolving agnostic DID mechanisms.

Litentry has developed an revolutionary ecosystem by way of which customers can handle their identities and dApps receive real-time credit score/status of an id proprietor throughout a number of blockchains.

You can observe the most recent updates on Litentry utilizing the next hyperlinks:

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This is a press launch. Readers ought to do their very own due diligence earlier than taking any actions associated to the promoted firm or any of its associates or companies. just isn’t accountable, immediately or not directly, for any harm or loss precipitated or alleged to be attributable to or in reference to the usage of or reliance on any content material, items or companies talked about within the press launch.

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