Farm lit by staking bnb, busd & dot tokens!

We’re thrilled to announce that Litentry ERC20 token LIT is listing on Binance Launchpool, where users will be able to acquire new token rewards in return for staking BNB, BUSD, DOT and other tokens.

Binance plans to officially list LIT on February 4th at 6:00 AM (UTC). The LIT BINANCE Launchpool will be open to farming on January 29th at 0:00 AM (UTC).

Litentry is a Decentralized Identity Aggregation protocol across multiple networks, featuring a DID indexing mechanism and a Substrate-based credit computation network. The protocol provides a decentralized, interoperable identity aggregation service that mitigates the difficulty of resolving agnostic DID mechanisms. Litentry provides a secure vehicle through which users manage their identities and dApps obtain real-time credit/reputation of an identity owner across different blockchains.

The LIT token is used in Litentry Network as a fee for credit/reputation computation, reward for indexed identity databases, stakes for being an identity registrar, or collaterals for DeFi lending services.

During Launchpool participation users will be able to stake their BNB, BUSD, and DOT tokens into separate pools to farm LIT tokens, starting from 2021/01/29 at 0:00 AM (UTC).

Binance will then list LIT in the innovation zone at 2021/02/04 6:00 AM (UTC) and open trading for LIT/DOT, LIT/BUSD, and LIT/USDT trading pairs.

“Litentry implements an innovative identity aggregation protocol to serve multiple networks. We believe the world is a diverse place where people hold different views, the reputation and the credit system of identity should be generated in a decentralized and transparent way, while the computing algorithms ought to be governed by the community. We are excited to collaborate with Binance, and expand our protocol to the Binance Smart Chain,” — said Hanwen Cheng, Founder & CEO of Litentry.

“It’s always great to see new concepts like Litentry’s cross-chain aggregated identity”, said Binance CEO and Founder, CZ (Changpeng Zhao). “We’re happy to support Litentry’s progress through Binance Launchpool.”

Details:

LIT Launchpool Details:

• Token Name: Litentry (LIT)
• Total Token Supply: 100,000,000 LIT
• Launchpool token rewards: 3,000,000 LIT (3.00% of Total Supply)
• Initial Circulating Supply: 18,000,000 LIT
• Smart Contract Addresses: LIT (ERC-20) , LIT (BEP-20)
• Staking Terms: No upper limit. No KYC required

Supported Pools:

• Stake BNB: 1,800,000 LIT in rewards (60%)
• Stake BUSD: 300,000 LIT in rewards (10%)
• Stake DOT: 900,000 LIT in rewards (30%)
• Farming Period: 2021-01-29 0:00 AM (UTC) to 2021-02-27 23:59 (UTC).

LIT Farming Distribution Dates (0:00:00 - 23:59:59 UTC each day) Total Daily Rewards (LIT) BNB Pool Daily Rewards (LIT) BUSD Pool Daily Rewards (LIT) DOT Pool Daily Rewards (LIT) 2021-01-29 - 2021-02-03 250,000 150,000 25,000 75,000 2021-02-04 - 2021-02-11 75,000 45,000 7,500 22,500 2021-02-12 - 2021-02-27 56,250 33,750 5,625 16,875 Read about Litentry (LIT) in our research report here.   Please note:

• Snapshots of user balances and total pool balances will be taken each hour to calculate user rewards, which will also be updated each hour.
• Users will be able to accumulate their rewards (calculated each hour) and claim these rewards directly to their spot accounts at any time.
• Each pool’s annual percentage yield (APY) and total pool balance will be updated in real time.
• Tokens can only be staked in one pool at a time. For example, User A cannot stake the same BNB into two different pools at the same time, but can allocate 50% of their BNB into pool A and 50% in pool B.
• Users will be able to unstake their funds at any time with no delay and participate in any other available pools immediately.
• Tokens staked in each pool and also any unclaimed rewards will be automatically transferred to each user’s spot accounts at the end of each farming period.
• BNB staked into Launchpool will still provide users with the standard benefits for holding BNB, such as airdrops, Launchpad eligibility and VIP benefits.

Project Links Website: https://litentry.com Whitepaper: https://litentry.s3.eu-central-1.amazonaws.com/lightpaper.pdf Telegram: https://t.me/litentry Medium: https://litentry.medium.com Twitter: https://twitter.com/litentry