Introduction:

“Litentry & Friends” is a Youtube live show hosted by the Litentry team that focuses on sharing knowledge about decentralized identity. In each panel, we will invite top project partners to discuss and share their insights on the industry, the context of the collaboration, and the outlook for Web3.

In the first episode, we have invited Irene Zhao from Konomi Network and Lilly M.Dobreva from Litentry to talk about how DID empowers DeFi and unleashes its full potential.

Host:


Testnet

  • Explored Statemint parachain
  • Explored xtoken and Polkadot cross-chain knowledge base
  • Token migration internal discussion
  • Completed the detail design for xrecovery
  • Built local cross-chain environment

Misc

  • Fixed twitter-linker bugs in the backend and supported frontend integration
  • Upgraded Kusama validators & Polkadot validators
  • Collected NFT lists and data analysis on NFT
  • Researched off chain oracle and TLS related topics
  • Updated the Litentry registrar readme file
  • Started migrating Litentry-registrar to TS

Communities

  • Litentry made it into Web 3.0 Bootcamp 2021 along with other 11 teams building on Substrate and Polkadot to pave the way for the next phase Web 3.0. The Bootcamp is hosted by…


We’re thrilled to announce that Litentry is joining Web 3.0 Bootcamp 2021 along with other 11 teams building on Substrate and Polkadot. The 2021 cohort has a diverse representation of Web 3 stack covering smart contract, browser, decentralized identity (DID), layer 2, privacy, Defi, and more. In collective efforts, all teams will work towards a primary goal which is to pave the way for the next phase of the Internet, Web 3.0.

Hosted by Wanxiang Blockchain Labs, New Chainbase, Parity and Web3 Foundation, the program will provide Litentry six-month training with technology, product, capital, cooperation resources in the Wanxiang Blockchain…


Testnet

  • Researched on Chainlink whitepaper and other protocols
  • Initialized NFT pallet
  • Designed TestNet testing plan
  • Cross-chain recovery pallet proposal
  • Completed the Xrecovery design with three proposed solutions

Misc

  • Explored Token Migration Methods
  • Edited OCW related protocol and design document
  • Finalized Twitter-linker-server APIs for frontend
  • Set up The Graph API and imported some NFTs’ contract ABI
  • Edited design document for Xrecovery

Partnerships

  • Litentry partners with Konomi, a decentralized money market protocol built using Substrate, to use our DID data to better cater to the needs of Konomi’s growing borrower and lender customer base. …


Announcing our strategic partnership with InsurAce, both teams will be working together to explore the application of decentralized identity technologies in the decentralized insurance use cases.

Although DeFi insurance leveraging on the blockchain technology has proven to be effective and useful, it can be further improved if more identity information can be applied to tackle some of the challenges.

Challenges in decentralized insurance protocol

Although blockchain technology can prevent the identity profile from being monitored, its pseudo-anonymous nature creates additional issues which compromise user’s experience and fail to meet legal requirements.

Examples are:

  1. Insurance protocol is not able to identify humans from a tremendous amount…


We are excited to announce this new collaboration with Konomi to use our on-chain Decentralized Identifiers (DID) data to better cater to the needs of Konomi’s growing borrower and lender customer base.

Under this partnership, Litentry’s on-chain identity aggregation data and credit computation model will bring value to Konomi as we explore new ways to adjust and integrate collateral rates, as well as credit scores based on a user’s verified on-chain identity.

Also, this credit score will be derived from sophisticated algorithms with variables such as average loan repayment period, leverage ratio, credit utilization ratio, net asset value, risk preference…


Testnet

  • Investigated the cross parachain function call
  • Developed the Xrecovery pallet
  • Researched token migration
  • Designed an NFT pallet preliminary
  • Researched cross-parachain
  • Off-chain worker in-team discussion and documentation
  • Proposed off-chain worker further development

Misc

  • Litentry document review and correction
  • Litentry forum maintenance
  • Developed social-linker-server
  • Prepared the design documentation for Xrecovery
  • Researched and investigated projects including Chainlink, the graph

Exchange Listing

$LIT token listed on Korean crypto exchange Coinone in trading pair LIT/KRW. Starting from April 22th, users will be able to buy and well $LIT using KRW(currency of South Korea). Founded in 2014, Coinone is one of the biggest crypto exchanges in Korea, with a…


We are happy to announce our collaboration with Standard Protocol — a collateralized Rebasable Stablecoins (CRS) protocol. We will work together to improve the IDO whitelist selection process to ensure fairness and decentralization.

DID and IDO

Current problem of IDO is that projects have been facing issue selecting addresses eligible for the allocations to prevent scambot and multiple accounts. This deteriorates the fairness and decentralization of the game. The selection process needs to be refined and handled with a more advanced and flexible mechanism.

As part of this collaboration, Litentry as a service provider, will provide advanced IDO whitelisting methods with identity-based whitelist…


Litentry partners with Razor Network to provide verified data for DID Aggregator

Litentry partners with Razor Network to provide verified real-world data for our DID Aggregator

Razor Network is a decentralized oracle providing data to the smart contracts using a network of stakers. And because of that, Razor’s performance is superior and more secure than traditional centralized oracle services.

Razor x Litentry

In order to ensure that smart contracts can access reliable DID data, Litentry will employ a third party to undertake the DID data verification process. Centralized data providers provide this service, but such data is often unreliable, as the data providers…


Testnet

  • Updated parachain dependencies to the latest cumulus, Substrate and Polkadot
  • Designed recovery pallet
  • Researched for token migration
  • Finished the offchain worker design proposal
  • Fixed an obsolete compile parameter
  • Upgraded the recovery pallet to function macro
  • Tested parachain upgrading

Misc

  • Litentry Document review and proofreading
  • Explored xtoken’s implementation and its mock test tool
  • Added parachain monitor config to Grafana

Partnerships

  • Litentry partners with CryptoArt.Ai to integrate CryptoArt data, allowing users to authenticate and query their art collections on the Litentry platform and supporting cross-chain application data indexing. CryptoArt.Ai …

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