What is the issuance volume of Litentry LIT coins?

Litentry (LIT), the native token of the Litentry protocol, has a limited issuance volume of 100,000,000 LIT, with a breakdown of distribution including team, investors, foundation, and staking rewards allocations.

Dec 28, 2024 at 09:56 pm

Litentry LIT Coin Issuance Volume

Key Points:

• LIT coin supply and distribution
• LIT coin allocation for different purposes
• LIT coin emission schedule and vesting period

Understanding Litentry LIT Coin Issuance

Litentry (LIT) is a decentralized identity aggregation protocol that allows users to manage their decentralized identifiers (DIDs) and aggregate their identity data from various sources into a single verifiable credential. LIT coin is the native token of the Litentry ecosystem, used for incentivizing network participants, securing the chain, and governance.

The total issuance volume of LIT coins is 100,000,000 LIT. The coin's distribution was determined through a series of equity raises and token sales, with the majority allocated to the project team, investors, and the Litentry Foundation.

LIT Coin Distribution and Allocation

The following is a breakdown of the LIT coin distribution:

• Team (20%): Allocated to the core development team responsible for the design, development, and maintenance of the Litentry protocol.
• Investors (30%): Distributed among early-stage investors and venture capital firms who supported the project's development.
• Litentry Foundation (20%): A non-profit organization dedicated to supporting the growth and adoption of the Litentry protocol, including funding community initiatives and research.
• Staking Rewards (30%): Allocated to network participants who stake LIT coins to support the security and validation of transactions on the Litentry blockchain.

LIT Coin Emission Schedule and Vesting Period

The LIT coin emission schedule is designed to gradually release tokens into circulation over a period of 36 months after the mainnet launch. The vesting period for tokens distributed to team members, investors, and the foundation is 12 months, ensuring they maintain a long-term commitment to the project.

FAQs

Q: What are the different ways to obtain LIT coins?

A: LIT coins can be acquired through token sales, staking rewards, and trading on cryptocurrency exchanges.

Q: What is the role of LIT coins in the Litentry ecosystem?

A: LIT coins are used for incentivizing network participants, securing the blockchain, and governance purposes, including voting on protocol changes and directing project funds.

Q: Why is the issuance volume of LIT coins limited?

A: The limited issuance volume is intended to control the supply and demand dynamics of the token, preventing excessive inflation and ensuring long-term value.