We’re thrilled to announce that Litentry ERC20 token LIT is listing on Binance Launchpool, where users will be able to acquire new token rewards in return for staking BNB, BUSD, DOT and other tokens.
Binance plans to officially list LIT on February 4th at 6:00 AM (UTC). The LIT Binance Launchpool will be open to farming on January 29th at 0:00 AM (UTC).
Litentry is a Decentralized Identity Aggregation protocol across multiple networks, featuring 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. Litentry provides a secure vehicle through which users manage their identities and dApps obtain real-time credit/reputation of an identity owner across different blockchains.
The LIT token is used in Litentry Network as a fee for credit/reputation computation, reward for indexed identity databases, stakes for being an identity registrar, or collaterals for DeFi lending services.
During Launchpool participation users will be able to stake their BNB, BUSD, and DOT tokens into separate pools to farm LIT tokens, starting from 2021/01/29 at 0:00 AM (UTC).
Binance will then list LIT in the innovation zone at 2021/02/04 6:00 AM (UTC) and open trading for LIT/DOT, LIT/BUSD, and LIT/USDT trading pairs.
“Litentry implements an innovative identity aggregation protocol to serve multiple networks. We believe the world is a diverse place where people hold different views, the reputation and the credit system of identity should be generated in a decentralized and transparent way, while the computing algorithms ought to be governed by the community. We are excited to collaborate with Binance, and expand our protocol to the Binance Smart Chain,” — said Hanwen Cheng, Founder & CEO of Litentry.
“It’s always great to see new concepts like Litentry’s cross-chain aggregated identity”, said Binance CEO and Founder, CZ (Changpeng Zhao). “We’re happy to support Litentry’s progress through Binance Launchpool.”
For more information about LIT listing, read the in-depth report by Binance Research.
Litentry is a Decentralized Identity Aggregator that enables linking user identities among multiple decentralized networks. Litentry provides a trustable way for dApps to obtain real-time DID data of an identity owner across multiple blockchains and dApps. Featuring a DID indexing protocol and a Substrate built distributed DID validation blockchain, Litentry provides a decentralized, verifiable identity aggregation service that removes the redundancy of code and the hassle involved in resolving agnostic DID mechanisms. Everyone can build and submit DID methods to Litentry, making identity data easily accessible in the Web3.