Bitcoin News and Finance
Litentry Blockchain Offers Massive Potentials to Crowdloan Investors Skip to main content

Litentry Blockchain Offers Massive Potentials to Crowdloan Investors

PRESS RELEASE. The blockchain industry is an ever-evolving world and Litentry is at the forefront of this revolution. Litentry intends to create a truly decentralized identity aggregation solution that will power web 3.0 applications.

Its blockchain architecture is advanced and has witnessed massive growth due to its application in different sectors. Litentry has also created a DID Startups Programs that incentivizes innovative teams to build products that will add value to its blockchain. To continue its growth, Litentry has applied for a Polkadot Parachain slot that will transform its ecosystem.

This article will open your imagination into the future of web 3.0 that can be achieved when Litentry gets a parachain.

A decentralized ecosystem for innovative projects

Litentry has built an innovative decentralized based identity ecosystem that has attracted several projects to its blockchain protocol. One of such projects is the Polkadot Naming System (PNS). PNS intends to introduce decentralized name systems to the Polkadot blockchain and is leveraging Litentry to achieve its goals.

Users will have an on-chain unique name that connects to their wallet account, smart contract addresses and more. PNS will be onboarded on Litentry Parachain and use Litentry as its main registrar entry.

Litentry Crowdloan participants that stake more than 10 DOT tokens will be eligible to register for a free PNS domain on the prelaunch platform. The recent success of the Ethereum Name System (ENS) shows the vast potentials within this sector.

Other platforms that have leveraged Litentry blockchain features include decentralized social interaction protocol MyCryptoProfile, on-chain data aggregator Web3Go and decentralized sign-in protocol Polka Sign In. Transaction and activities implemented by these projects will be powered by LIT, the native token of Litentry and increase adoption.

Litentry is also working on developing its first decentralized application that will be focused on Airdrops. Airdrops are an important component of the crypto industry and are used by projects to reward loyal users.

Problems, however exist with the conventional Airdrop system where validation and distribution are done in a centralized way, posing questions of transparency, one-time distribution and more. Therefore, Litentry is developing an innovative system where users can easily claim rewards for completing tasks.

Litentry airdrop dApp integrates an innovative TaskFi platform that leverage the power of its unique identity aggregation system to ensure decentralized verification of users and fair distribution of rewards. It would also include anti-fraud tools, loyalty programs and a custodian wallet for users to receive their rewards instantly.

Litentry Crowdloan provides the first use case for the dApp, and participants will be able to take part in different tasks to receive rewards in LIT tokens.

Litentry Crowdloan

Litentry potentials have been stated above, and the projects deployed on its blockchain will only continue to grow once it successfully wins a Polkadot Parachain slot. Early investors can become part of a growing ecosystem and receive rewards for LIT tokens for staking their DOT in the crowdloan pool.

Litentry has already allocated 20% of the token supply of LIT as rewards for crowdloan participants, which is more than other projects in the auction. In addition, participants can stake on Binance now to enjoy a Warm-Up promotion 1-week Warm-Up promotion will receive an extra pool of 500,000 LIT plus liquidity BDOT.

Litentry has also partnered with DeFi platforms Bitfrost and Parallel Finance to provide lending options for crowdloan contributors. Users can contribute to Litentry crowdloan pool from both platforms and receive rewards in LIT tokens + liquidity DOT derivatives.

 

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory