Binance is excited to announce the 16th project on Binance Launchpool - Litentry (LIT), a decentralized cross-chain identity aggregator built on Substrate.
Users will be able to stake their BNB, BUSD and DOT into separate pools to farm LIT tokens over 30 days, with farming starting from 2021-01-29 0:00 AM (UTC).
Binance will then list LIT into the innovation zone at 2021-02-04 6:00 AM (UTC) and open trading with LIT/BTC, LIT/BUSD and LIT/USDT trading pairs.
LIT Launchpool Details:
- Token Name: Litentry (LIT)
- Total Token Supply: 100,000,000 LIT
- Launchpool token rewards: 3,000,000 LIT (3.00% of Total Supply)
- Initial Circulating Supply: 18,000,000 LIT
- Smart Contract Addresses: LIT (ERC-20) , LIT (BEP-20)
- Staking Terms: No upper limit. No KYC required
- Stake BNB: 1,800,000 LIT in rewards (60%)
- Stake BUSD: 300,000 LIT in rewards (10%)
- Stake DOT: 900,000 LIT in rewards (30%)
- Farming Period: 2021-01-29 0:00 AM (UTC) to 2021-02-27 23:59 (UTC).
LIT Farming Distribution
|Dates (0:00:00 - 23:59:59 UTC each day)||Total Daily Rewards (LIT)||BNB Pool Daily Rewards (LIT)||BUSD Pool Daily Rewards (LIT)||DOT Pool Daily Rewards (LIT)|
|2021-01-29 - 2021-02-03||250,000||150,000||25,000||75,000|
|2021-02-04 - 2021-02-11||75,000||45,000||7,500||22,500|
|2021-02-12 - 2021-02-27||56,250||33,750||5,625||16,875|
Read about Litentry (LIT) in our research report here.
- Snapshots of user balances and total pool balances will be taken each hour to calculate user rewards, which will also be updated each hour.
- Users will be able to accumulate their rewards (calculated each hour) and claim these rewards directly to their spot accounts at any time.
- Each pool’s annual percentage yield (APY) and total pool balance will be updated in real time.
- Tokens can only be staked in one pool at a time. For example, User A cannot stake the same BNB into two different pools at the same time, but can allocate 50% of their BNB into pool A and 50% in pool B.
- Users will be able to unstake their funds at any time with no delay and participate in any other available pools immediately.
- Tokens staked in each pool and also any unclaimed rewards will be automatically transferred to each user’s spot accounts at the end of each farming period.
- BNB staked into Launchpool will still provide users with the standard benefits for holding BNB, such as airdrops, Launchpad eligibility and VIP benefits.
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Binance will make best efforts to choose high-quality coins, but will not be responsible for your trading losses.
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