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Tokenomics

Introduction

Litentry is a Decentralized Identity Aggregation protocol across multiple networks, it features 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.
LIT token is the native cryptocurrency of the Litentry, including Litmus parachain on Kusama and Litentry parachain on Polkadot with the following utilities:
  • Pay transaction fees in the network
  • Incentivize collators and fund promotion campaigns to support Litentry parachain
  • Empower governance mechanisms in the chain, including proposing referendums, the election of council members, voting in a referendum, etc.
  • Serve as the utility token for identity product or service
  • Collator staking

LIT Token Allocation

Token Name
LIT
Binance Launchpool
3.00% of the total token supply
Seed Sale
8.11% of the total token supply
Strategic Sale
11.89% of the total token supply
Team
15.00% of the total token supply
Parachain Auction & Ecosystem
45.00% of the total token supply
Foundation
17.00% of the total token supply

LIT token release schedule