>Buy now
idex.market
app.uniswap.org
>july 2020 dev update
medium.com
>Cointelegraph article
cointelegraph.com
>node registration now open
docs.google.com
>how to stake
medium.com
>staking calculator
litionstaking.com
>official site
lition.io
>twitter
mobile.twitter.com
>white paper
lition.io
>previous threads (newest to oldest)
* virgin editions (conform to biz title standardisation)
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Other urls found in this thread:
medium.com
metamask.zendesk.com
youngresearch.com
lition.io
twitter.com
Will LIT be listed on other exchanges after mainnet 2.0 launch?
Good morning
Here's what I'd like to do in this thread.
I'd like to be constructive for a change and crowdsource a nice pasta that can be used whenever an user asks to shill Lition to her.
So I'm scanning warosu biz for some interesting posts. Here it goes...
>Literally the only reason why Lition is so ridiculously underpriced is because of a lack of functioning mainnet. Now think about this, if Lition was just your run of the mill blockchain project or a scam, they would have patched the consensus issue months ago and called it a day. Despite the fact that Lition fixed the consensus issue months ago (why do you think Richard said they're likely to launch before Q3), they are still going through a massive amount of tests. They desperately want to be certain that once they launch it, it works and it works well. If they didn't have any utility they wouldn't have cared about triple testing consensus, they would have just slapped a temporary solution to capitalise on the hype. The only reason why it's taken so long is because their solution needs to scale to the demand that they know they're going to have. The fact that it has taken so long for a solution is bullish.
>By the way, once mainnet 2.0 launches we're not only going to get significantly higher staking rewards (and in turn a higher price for the token), we will also find out what they're doing with SAP, Microsoft, N26 as well as other major announcements. A significant delay in fixing the consensus issue is what has allowed us to make it. Be grateful and hold on tight.
Kek. Welcome Nigel.
>In case people are unaware, Lition fixed consensus a lot earlier this year. This is why Richard said that he expected a Q2 mainnet launch and why the SAP Insider made his threads in April suggesting an upcoming announcement. Lition never encountered any issues with the consensus fix although they have updated and optimised some things. What caused the delay to the mainnet and to the SAP announcement was that Richard wanted to do shit tonnes of tests because he was absolutely certain that it was ready. You're going to get your announcement soon anons. You've barely got any time left to buy in at such criminally low prices.
>Think about this way. If EWT with it's limited energy use case and absolutely zero other use cases can take it to an $80 million market cap on pure speculation. Imagine what a functional energy use case with hundreds of thousands (and eventually millions) of customers will do. Not only will the price rise due to utility, but the speculative market will also follow far higher than EWT has gone. Now combine this with the fact that Lition is the only proper GDPR compliant crypto. It will be used for commercial and enterprise uses all over Europe starting off with SAP. Lition will be able to bridge the gap between blockchain and non-blockchain companies. What do YOU think will happen to the price?
>
Missed, kek. >Fucking JP Morgan Quorum ran into similar issues for the consensus mechanism, meanwhile Lition is working on it with actual researchers to find a solution or work around. 99% of your blockchain projects are just copy pasting or saying they will get shit done. And now comes an actual team that tries to deliver shit and you can't understand it, not owning a LIT bag is the most retarded shit I've ever seen in crypto because if they make it work and you don't own some, you will get left behind and will witness a fucking 3 million marketcap top 700 coin becoming a top 10 multi-Billion coin. If this plays out like this you will live every single day in despair until the day you off yourself, and this my friend, is why we call it a suicide stack.
>Lition is a second layer blockchain on top of ethereum (but can switch to Binance if needed).
It's main novelty is sidechains that are deletable, thereby making Lition useable for companies and applications that want to be compliant with EU GDPR privacy laws. (it's also low fee, high txs throughput)
The team is simultaneously developping usecases for their blockchain as a way to showcase the technology.
The first one is Lition Energie where already about 20k german households purchase energy with peer to peer through lition. A big advantage could be for larger customers who can then dynamically bid and switch from provider every 15 minutes in order to chase the lowest electricity costs.
Other usecases are in banking and hopefully a whole ecosystem will flourish on the lition blockchain.
Team is pretty solid. Low price due to mainnet fuckup which is now tested and awaiting relaunch.
Why are you so based?
No the team have been very explicit and said that they are not adding any new exchanges even after mainnet 2.0. They believe that LIT is already liquid and they enjoy Americans being excluded.
>Look it up and read past the first line. The decentralized energy is simply the real world use case for the blockchain. SAP works with them and banks for DeFi
>Funny thing is the energy test use case blew up so big in Germany that it’s use case alone will make it. $21million loan on standby along with many other things. Lition is a business blockchain solution. Lition energie is the first business showing off the solution so the other fat kids will get the courage to jump in the pool. And then they accidentally made one of the fastest and awarded energy companies in Germany.
Whats the best way to store my little lit's lads? I preferably want to stake them.
Because I have a big fat stack of Lition.
Lmao
If you stake you have no way to get around metamask.
If you don't stake you can store them whichever way you would with ethereum. Meaning you can use a trezor or ledger or paper wallet and later import to your wallet application of choice.
Sources ?
Is about to get dabbed on.
I'm fairly certainly these were me. I thought they were pretty good but no one really responded to them at the time.
You can interact with your ledger on Metamask, that's how I staked my litties.
Gets dabbed on.
Ah well, enjoy your day in the sun, fren.
Sarcasm. Of course they will eventually add exchanges after mainnet.
Can't you connect your hardware wallets to MM though?
That's interesting, can you link me?
Well appearantly I'm an idiot.
here's an article about it, it's pretty easy desu
>The Lition token has 3 uses:
>1 - Companies need to pay a lition fee to spawn private sidechains.
>2 - Lition is used to pay for gas in their network, similar to ethereum.
>3 - Lition tokens are used to secure the network by staking them.
Is that true about the lition fee to spawn sidechains? Is it known how much and what mechanism drives this fee?
>They already have an operational use-case where 10-50k german households are buying electricity with on a daily basis right now. This usecase alone with modest growth in the future would justify a multiple of today's price.
>The token stands at 12 cents. Full dilluted supply will be 100 million.
Even if this is the only usecase and they only reach 250k households (which need 1 txs/day) and no businesses which would use dynamic transactions (96 txs/day) the chain would see 250k txs/day. If they indeed manage to keep fees at 0.01 usd that would yield stakers 2500 USD/day.
>This would at current prices and at half the tokens staked yield a 15% return forever.
>I like to see this as a type of dividend that a company pays.
>No company provides this yield. Only the top 1% pays half that. youngresearch.com
>Thus based on the assumption of Lition Energie app eventually getting that 250k households you should assign it at least a valuation that is 2-5 times that of today.
>Then comes the upside. They can get for every 100 households, 1 business with dynamic pricing (96 txs/day). This doubles the valuation to a 4-10x
>On the 38 million german household market they could get 1 to 2 million households without any stretch of the imagination. This quadruples or octuples the valuation to a 16-80x.
>They can expand into other European territories. This doubles the valuation to 32-160x.
>They can expand into other non-European countries (I think there was talk of Malaysia). This doubles the valuation to a 64-320x.
>There will be other Lition developed usecases. This increases the valuation between 50% or 500% to a 96-1600x.
>There can be significant development activity to make use of the GDPR compliant blockchain feature. 200-6400x.
>And then you have the overvaluation of a hot project during crypto mania.
>Every household needs to make a token transaction once a day. (larger companies can opt to send a transaction once every 15 minutes if the dynamic pricing makes it more beneficial to them). For the banking usecase every loan needs to make several payments over the network to many lenders. The fee of these transactions is returned to token stakers. The fee is limited to 0.01 USD but I'm a bit fuzzy to how this is done.
>When they get to their modest target of 250k households by end of 2022 we're talking about 2500 USD of daily staking rewards. And thats from the Energy usecase only and assuming no customer has dynamic pricing (which is 100 txs a day). With other usecases, slight outperformance of the energy usecase etc it's easy to see 10k of staking rewards being generated on the network every day. Currently only 28 million tokens are staked. By then maybe 40 million. That would mean 10 cents of staking rewards per token every year.
>Now if you really want to talk potential. There are 38 million households in Germany and they will expand into Austria, the Netherlands etc. In green oriented Europe alone they could get to 10 million households and you could see several dollars of yearly staking rewards per token.
>The real kicker will be when outside groups start to develop on Lition though. When a whole ecosphere of applications emerges, who knows how many transactions will occur, who knows how high the staking rewards and the price will go. I think the price can go many multiples higher than the rewards in a bull market. So 100+ USD is not out of the picture.
>Firstly you haven't even bothered to read the whitepaper (lition.io
>This guy fucks. GDPR isn't usecase, it's a feature. Well the deletable sidechains that make it GDPR compliant is. The main usecase is a decentralized energy market, which it's sister company Lition Energie is executing. Lition Energie has about 10,000 german households already and is by now probably rising with 2000 a month. For this usecase they are already collaborating with Sparwelt.de (which made a tv ad) and N26, one of the largest internet banks in Europe. But Lition is much more than that. Many usecases are thought out that could run on Lition, the next is syndicated loan dApps. For this they've already made a demo with Volksbank Raffeizen. This application will allow multiple banks to finance the same loan for example an appartment complex. Next one up is one where they work with lawpilots to make their e-learning certificates certifyable on the blockchain. I think this dapp alone is similar to the entire usecase of VIDT which is crypto that is almost 10 times as expensive. Then there are many more mentioned in the whitepaper but in the future it is expected that the community will start launching these apps instead of the team. Just like the token projects do on Ethereum. It's important to distinguish Lition the project from Lition the energy usecase because the project is like Ethereum while the energy usecase is like CryptoKitties.
>You have no idea what you just stumbled upon.
Thx mate.
Well I think that was it. My selection of the most relevant posts of the past two weeks.
If you have sections that you feel are very important in order to convey the essence of lition to newbies let me know.
All great.
>and they enjoy Americans being excluded.
Big if true