Polkadot & Kusama ecosystem projects directory
Polkadot & Kusama ecosystem projects directory

Litentry

Data
Identity
Privacy
Litentry is a Decentralized Identity Aggregation protocol across multiple networks. It features 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.
Relative Project:   Litmus  Litmus
Tokens:  LIT  
Status
Announced
Testing
In Auction On Polkadot
Auction
polkadot
Polkadot
Auction 15: WINNER
Slot #16: leasing June 4, 2022 to April 8, 2024
Project Auction Info:  auction details 
Reward: 1 DOT : 8+ LIT
Reward Pool: 20m of 100m (20%)
  • LIT rewards will be distributed linearly in each block (96 weeks)
  • The compensation ratio in case of failure is 0.12 LIT per 1 DOT
  • 10% ref bonus (split 5% to referrer & 5% to referred)
Screenshots (1)
Developer Activity
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Primary Token:
Price:
$0.589
Total Supply:
100 000 000
Circulating Supply:
35 415 598
Market Cap:
$20 943 236
Trading Vol 24:
$7 714 735
Crowdloan Reward Pool:
20 000 000 (20% of Total Supply)
LIT Distribution
News
Feb 10, 2022 at 00:45 UTC
Feb 8, 2022 at 18:03 UTC
Feb 4, 2022 at 21:04 UTC
Jan 21, 2022 at 12:45 UTC
Sep 22, 2021 at 11:32 UTC
May 7, 2021 at 11:51 UTC

What is Litentry?

Litentry is a Decentralized Identity Aggregation protocol across multiple networks, it features 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 the real-time credit/reputation of an identity owner across different blockchains. Know more about Litentry.

Who are Litentry?

The team was founded in early 2019 and received a grant from the Web3 Foundation in their early stage. In October 2020, Litentry completed a million-dollar seed round of funding from FBG, Candaq, Hypersphere, Signum, Altonomy, and other crypto venture capitals. Litentry’s founder Hanwen Cheng is a former Software Engineer at Parity, with over 5 years of experience in blockchain and 7 years in Computer Science. Our development team is currently based in Germany, China, UK, and more countries with years of experience in the blockchain industry and a deep understanding of the Ethereum and Polkadot ecosystem.

What is LIT token and what is it for?

LIT token is the native cryptocurrency of the Litentry network and is issued by the Litentry Foundation. Litentry tokens LIT would be the driving force in the circulation in the DID ecosystem. Specifically, in our credit calculation system, each time a user sends a request to the network, they’ll be charged a gas fee in LIT tokens for the services. what happens next is the network allocates credit calculation tasks to several off-line workers and correspondingly rewarded them LIT tokens for their computational work. In addition, to encourage maintenance of the Litentry network, off-line workers will be rewarded LIT tokens for doing so.