PRESS RELEASE. Litentry, a decentralized identity aggregation protocol, has unveiled the launch of its Equity loan reward program is expected to go live on November 4, 2021. This represents an important development in his quest to gain a niche before the next Polkadot parachain auction. Join the crowdloan on Binance now enjoy a total supply of 20% LIT (20,000,000 LIT) with an additional rewards pool of $ 2.5 million, with approx. 2760% APY as of November 4.
An innovative Crowdloan program
Crowdloan is a growing trend for projects to receive enough funding to participate in the Polkadot Parachain Auction. Participants contribute by throwing DOT into a crowdloan vault stored on the blockchain for a designated period.
Compared to other projects, Litentry has designed an innovative crowdloan system that entices contributors. To this end, Litentry has allocated 20,000,000 LIT tokens representing 20% of its token supply as core rewards for the crowdloan campaign. Interested participants have until December 17, 2021 to lock their tokens into crowdloan’s pool, which has a 8,000,000 DOT hardcap, that none of its slot 1 competitors have. This hardcap would ensure that the DOT rewards each participant receives will not be diluted once the staking DOTs reach a safe winning amount.
Contributors will need to wager a minimum of 5 DOT in crowdloan’s wagering pool to be eligible for the rewards. The staking pool will be locked for 96 weeks, and the distribution of rewards will begin once the Litentry Parchain connects to the Polkadot Relay Chain.
Litentry will reward participants a minimum of 12.5 LIT tokens for every 5 DOT put into play. Contributors can also get an additional 10% bonus by throwing their tokens away before the parachain auction or a 5% bonus during the first seven. parachain auction days. There will also be an additional 10% Identity Bonus which will be announced soon. Give supporters a total reward of 24% of the LIT offer.
Participants can bet on Binance now enjoy a Warm-up promotion The one-week warm-up promotion will receive an additional pool of 500,000 LIT plus BDOT liquidity.
Litentry has also partnered with DeFi platforms Bitfrost and Parallel funding provide loan options to crowdloan contributors. Users can contribute to the Litentry Equity Loan Pool from both platforms and receive LIT + DOT liquidity derivative rewards.
Polkadot Parachain Auction is huge for the Litentry ecosystem
Litentry is a privacy-preserved DID aggregator that performs unique functions in the ecosystem and provides liquidity, interoperability and consistency for multi-chain identity data. Becoming a Parachain maximizes the efficiency of sharing identity data between Litentry and other Parachain projects.
With an aggregated cross-chain identity, blockchain projects will be able to offer dedicated graduated identity services to power next-generation web 3.0 services. For example, Litentry can be deployed and used to calculate an individual’s credit score to facilitate analyzed DeFi services. With all on-chain activity data aggregated by Litentry on individual addresses, users can generate evidence in a decentralized manner by submitting the addresses for activities such as IDO / airdrop whitelisting.
Litentry’s potentials are endless and users can be a part of this innovative protocol by placing their DOT in crowdloan’s pool. Additionally, the 96 week staking period is also a great long-term investment for backers who will generate value from their DOT tokens and receive LIT tokens as a reward for their stake.
Litentry is a decentralized identity aggregation protocol that works across multiple networks. It has a DID indexing mechanism and a substrate-based credit calculation network. Litentry also provides a decentralized and interoperable identity aggregation service that reduces the difficulty of solving DID agnostic mechanisms.
Litentry has developed an innovative ecosystem through which users can manage their identities and dApps get real-time credit / reputation from an identity owner across multiple blockchains.
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