Title : Litentry Crowdloan: 20% Allocation + $25M Binance Bonus Pool
Link : Litentry Crowdloan: 20% Allocation + $25M Binance Bonus Pool
Litentry Crowdloan: 20% Allocation + $25M Binance Bonus Pool
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Litentry Crowdloan Allocates 20 Lit Total Supply to Partners with Binance Extra USD 25M Reward Pool
<strong>Introduction
Litentry, a groundbreaking decentralized identity (DID) solution, has recently announced a strategic crowdloan initiative to distribute 20% of its total token supply to partners and supporters. This move aims to foster a robust ecosystem around Litentry's innovative DID platform.
Partnerships with Leading Platforms
As part of the crowdloan initiative, Litentry has forged partnerships with 10 leading cryptocurrency exchanges and infrastructure providers, including Binance, Huobi, and OKX. These partnerships will enable seamless participation in the crowdloan by providing users with access to a wide range of deposit and staking options.
Binance Provides Additional USD 25M Reward Pool
In a significant development, Binance has pledged an additional USD 25 million reward pool to incentivize participation in the Litentry crowdloan. This pool will be distributed among participants in proportion to their DOT contributions, further enhancing the earning potential for supporters.
Benefits of Participating in the Crowdloan
Participating in the Litentry crowdloan offers numerous benefits, including:
- Early access to Litentry tokens (LIT)
- Generous rewards and incentives
- Opportunities to shape the future of decentralized identity
Contribution Details
Timeline: The Litentry crowdloan will run from March 28, 2023 to May 31, 2023.
Minimum Contribution: The minimum contribution is 1 DOT.
Reward Structure: Rewards will be distributed based on the following formula:
Reward = Contribution Amount * 80 * (1 + Pool Multiplier)
Where:
- Pool Multiplier is determined by the platform where you stake your DOT.
Token Distribution
The 20% token allocation will be distributed as follows:
- Ecosystem Fund: 10%
- Partners: 10%
Conclusion
Litentry's crowdloan initiative represents a pivotal moment for the project. By partnering with leading platforms and offering generous rewards, Litentry aims to build a vibrant ecosystem around its decentralized identity solution. Participants have the opportunity to contribute to the future of DID and earn substantial rewards in the process.
Frequently Asked Questions (FAQs)
- What is the Litentry crowdloan?
- A strategic initiative to distribute 20% of Litentry's token supply to partners and supporters through crowdloan contributions.
- Who are the partners involved in the crowdloan?
- 10 leading exchanges and infrastructure providers, including Binance, Huobi, and OKX.
- What is the Binance USD 25M reward pool?
- An additional incentive provided by Binance to further incentivize participation in the crowdloan.
- When does the crowdloan start and end?
- March 28, 2023 to May 31, 2023.
- What are the benefits of participating in the crowdloan?
- Early access to LIT tokens, generous rewards, and opportunities to shape the future of decentralized identity.
Thus this article Litentry Crowdloan: 20% Allocation + $25M Binance Bonus Pool
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