What is Lithium (LITH)?
LITH is the native token of Lithium, which is a decentralized NFT valuation protocol. In other words, it's an advanced intelligence platform that enables people to understand the value of digital assets. It is powered by the combination of collective intelligence and machine learning to boost accuracy in the market.
Take a look at the Lithium price chart above. It features the current and the previous LITH price.
How does it work? The protocol incentivizes users to give their opinion on various digital assets. This helps to establish a market sentiment for the asset. Lithium then combines the data it received from this market analysis with its own intelligence program. The end result is proven to be accurate and reliable.
Who Founded Lithium?
The Lithium crypto project was created by a dedicated team of expert individuals. However, the founder of Lithium is David Lighton. He is an entrepreneur who is dedicated to bringing financial innovation to the community. His main platform of communication is Twitter where you can also get updates from the project and tech leads of the platform.
The Lithium project is financed by a group of investors, including Pantera Capital and Hashed. This financial aid has helped Lithium develop its intelligence protocol along with further developments in its application. Lithium has raised about $7.6 million to date and counting. About $2.6 million of this was raised in a seed round led by Pantera Capital and Hashed. Both these organizations are blockchain, hedge, and venture funds that have a key focus on financial innovation in the community.
Use Cases of LITH Tokens
As mentioned before, the native token of Lithium is LITH. It is a reward and staking token used mainly for asking questions and giving answers in the community. When asking a question, users can stake their Lithium coin as a bounty. Similarly, when answering a question, users can stake their LITH as confidence. The application of the LITH crypto assets ensures that the question being asked or the answer being given has the highest chance of being accurate.
Besides, by sharing their market insights, users are able to earn rewards in the form of LITH. After a question gets accurate responses, the token’s wisdom node stakes are pooled and distributed. The reward distribution system depends on how accurate the answer is.
Don't forget to check the aforementioned Lithium price chart. It will help you to make a thorough LITH price analysis.
