Lithium Finance Dual Pre-IDO Announcements
Lithium Finance is an on-chain pricing oracle that fills one of the most important missing links between real-world asset investment and DeFi. The protocol leverages collective intelligence to price real-world assets, especially assets that are hard to value, such as pre-IPO stocks, private equity, and other illiquid assets.
There are two major stakeholders in the Lithium system: Wisdom Nodes; and Wisdom Seekers. Those seeking answers to questions about the price of an asset will use $LITH tokens — Lithium’s native token to provide a bounty, and those with expertise in delivering answers will stake LITH to signal confidence in their answers. This method of finding the dominant truth by asking subject questions is known as the Determinant-based Mutual Information mechanism or DMI-Mechanism.
Lithium Finance announced that they will conduct a dual IDO via Convergence Finance platform and Polkastarter, the two most powerful launchpad to conduct a fund raising event. Lithium’s pre-IDO on Convergence will take place on ConvO. For Polkastarter, there will be a designated pool for the Lithium pre-IDO, and the procedure is similar to other regular token launches. Trading of the pre-IDO Lithium token 𝑓LITH will be available on ConvX, Convergence’s AMM.
See the diagram for more details:
(photo courtesy of Lithium Finance)
Pre-IDO sale details:
- Pre-IDO Date: 24/06/2021
- Token Ticker: $𝑓LITH
- Total Pre-IDO Allocation: 100,000 USD
Lithium Finance utility token to be used as a reward mechanism and as a staking token for
questions and answers. During the process of posing a question and answering, each individual will stake a certain amount as either bounty (when asking a question) or confidence (when answering). This
combination of staking creates stronger signals towards the best information.
ABOUT Lithium Finance
Lithium Finance is an on-chain pricing oracle that fills one of the most important missing links between real-world asset investment and DeFi. The protocol leverages collective intelligence to price real-world assets, especially assets that are hard to value, such as pre-IPO stocks, private equity, and other illiquid assets.
ABOUT Convergence
Convergence will be the first AMM to make private assets interchangeable in the DeFi space by fractionalizing them using a single easy-to-use interface and composable with other DeFi protocols. Convergence enables asset owners to take advantage of DeFi’s liquidity, while DeFi users can access exotic real-world assets unavailable to them before. Convergence Finance combines the edge of a lowered investment entry barrier with the liquidity, automation, and transparency features of DeFi to bring real-world asset exposure to all DeFi users.
ABOUT Polkastarter
Polkastarter enables projects to raise capital on a decentralised, permissionless and interoperable environment based on Polkadot.
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