Litentry Crowdloan, a DeFi identity aggregation protocol, revealed the launch of its Crowdloan Reward Program for Polkadot parachain auction.
Litentry, a DeFi identity aggregation protocol, has revealed the launch of its Crowdloan Reward Program scheduled to go live from November 4, 2021. This represents a significant development in its quest to win a slot ahead of the upcoming Polkadot parachain auction. Join the crowdloan on Binance to enjoy 20% LIT (20,000,000 LIT) total supply with an extra $2.5M reward pool, with approx. 2760% APY as of Nov 4.
An Innovative Crowdloan Program
Crowdloan is a growing trend taken by projects to receive enough funding to participate in Polkadot’s parachain auction. Participants contribute by staking 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 incentivizes contributors. To this effect, Litentry has allocated 20,000,000 LIT tokens representing 20% of its token supply as basic rewards for the crowdloan campaign. Interested participants have until December 17, 2021, to lock their tokens in the crowdloan pool, which has a hardcap of 8,000,000 DOT, which none of it’s slot 1 competitors has. This hardcap would make sure the DOT rewards each participant gets will not be diluted after the staking DOTs reaches a safe winning amount.
Polkadot Parachain Auction Is Massive For Litentry Ecosystem
Litentry is a privacy-Preserved DID Aggregator that serves unique functions in the ecosystem & provides liquidity, interoperability and consistency for the multi-chain identity data. Becoming a Parachain maximizes the efficiency of sharing identity data between Litentry and other Parachain projects.
To be connected with Polkadot via the relay chain to obtain the most benefit on the network, Litentry will incentivize investors to obtain an advantage in the auctions and win a slot to deploy a parachain. The program and its success will complete yet another milestone in their roadmap to becoming the standard in DIDs.
