Lit Protocol announces LITKEY tokenomics: 4.8% for ecological airdrop

ChainCatcher news, according to official information from Lit Protocol, LITKEY will serve as its native token for paying network services, incentivizing node operators, and participating in governance for protocol development. LITKEY will be airdropped to early ecosystem builders, testnet node operators, and others before the launch of the Lit V1 mainnet Naga.

The total supply allocation of LITKEY is as follows: tokens for investors and the team will be locked for one year and will unlock linearly over four years, 4.8% will be used for ecosystem airdrops, and the remainder will be allocated to public offerings, private placements, and ecosystem incentives. The Naga mainnet will introduce a proxy app store, a new signature algorithm, and optimized payment models to enhance performance and scalability.