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
LIT token release schedule
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