Liti Capital Launches Staking for Token Holders
Starting on September 13, wLITI token holders will be able to stake their tokens and receive wLITI in return.
"Staking is a crucial tool to be attractive in the DeFi space and to reward our community for supporting us long term," says Jonas Rey, Liti Capital's co-founder.
Token holders can stake their tokens by heading to the Liti Capital app, on the Liti Capital website, connecting a compatible wallet and selecting staking. The product does not require holders to go through any know-your-customer (KYC) checks.
At launch there will be three options for users to stake their wLITI tokens:
- 4% APY for 30 days
- 6% APY for 60 days
- 9% APY for 90 days
Users will be able to withdraw their tokens whenever they need to. If a user decides they want to un-stake their tokens, instead of losing all the rewards, the system calculates how much interest the user has accumulated and issues the relevant amount back to the token holder.
"The community is one of the most important factors in the success of blockchain projects," says Jaime Delgado, Liti Capital's chief technology officer.
"The staking program is one of the mechanisms by which the community is rewarded for its fidelity to the project and at the same time reduces the market share of wLiti in circulation which is beneficial for both the holders of wLiti and the company," Delgado continues.
More information on the staking program can be found at: https://liticapital.medium.com/
Liti Capital is spearheading an arbitration lawsuit on behalf of a group of traders who lost millions of dollars of trades on 19 May 2021 when Binance inexplicably froze their accounts for approximately one hour.
It is believed that this case - the first ever group action case in the crypto sector - will be a landmark event in defining how organisations operating in the sector behave and treat their customers.
Since the company's launch in early 2021, it has raised USD 19 million to secure assets of up to USD 200 million, which if successful, will pay out a dividend to token holders.
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