In cryptocurrency, all appears to be tempered by a façade of advertising and endorsement. There has been so much data that is factually unfounded. With all the sudden burst of new projects, there is a lack of price information in numerous tokens.
Personally, I found myself being confused because of the incomplete pricing data of a specific crypto, making it more difficult for me to accurately determine the capability of a project. Apart from that, there are private institutions that do not publicly announce their token prices. How do we get access to this information, or perhaps, do we need to take a step to determine the exact prices of these new tokens?
What is Lithium?
A potential project was introduced by the top entrepreneurs with extensive experience in blockchain technology — it was then named ‘Lithium’. Founders Adrian Lai and Steve Derezinski envisioned a project that uses Determinant-based Mutual Information (DMI).
In my understanding, DMI will be used to reveal vital pricing information for the tokens available on the network. The idea was a fresh start for blockchain, and there have been no other projects that can yield accurate and up-to-date prices on private and illiquid assets aside from Lithium.
Upon exploring the network, Lithium rewards users that provide truthful information, while punishes those who give false or incorrect pricing data.
As a writer myself, I am used to giving factual information to my readers, thus, I find this project very interesting. It is indeed important to practice spreading out unfiltered and correct information, especially on money-related topics such as cryptocurrency. Let this be an aim to determine an accurate price for new projects. However, the price of an illiquid asset may not be predicted accurately.
But the good thing I found, the framework of the Lithium protocol ensures that price predictions are almost perfect.
There are sets of questions to be asked on the participants; questions have multiple-choices. The goal is to find the dominant truth and discover prices of illiquid assets. Once the participant successfully gives truthful information, he/she is eligible to receive LITH — the native token of the network.
What is LITH?
I am very pleased to explore Lithium further. With all the news being scattered on social media, I’ve been curious about the token use cases of LITH. From the last time I checked, the market data has not been tracked on coinmarketcap and coingecko.
However, Lithium announced its token public sale on KuCoin, that’s why I get to explore more about LITH. It is the utility token and serves as a reward token to users. When participants provide relevant and accurate information, they get to receive LITH.
In my experience, I would stake first some LITH before participating in the question and answer part. Most of the questions are subjective, so I would at least refresh my mind before answering. There are also bonuses and extra rewards for the users, this of course will be given thru LITH.
Where is LITH available?
I already mentioned the token public sale on KuCoin a while ago. To be honest, I intentionally featured Lithium on my blog the same day of the first token sale on KuCoin to get the attention it deserves. The public token sale will officially start on August 3, 2021.
I am more than interested in joining the 13th Spotlight on KuCoin and I bet my readers would want to know the details about the said event. According to the people’s exchange, there is an allocation token of 50,000,000 LITH for this event, and each LITH will cost 0.006 USDT; one of the many reasons behind my excitement!
Glad that I still have some KCS in my wallet, because participants must have at least 100 KCS holdings before joining. Also, I marked August 3 — 4; KuCoin will randomly choose the winners during this span of time
As I always say in my previous Spotlight reviews, don’t forget to complete KYC2 (Advanced Verification) and click the ‘Participate Now’ button to successfully pass your entry. For more detailed information, click here.
KuCoin exceeded my expectation upon giving Spotlight to CoinBurp last week, and now here is Lithium — the first decentralized data oracle focused on pricing private and illiquid assets. I am ready to check this token further after getting the Spotlight. The project seems to be promising, and will definitely be a big help to the blockchain ecosystem while contributing to the growth of decentralized finance.
With accurate pricing information, there won’t be any projects or users left behind. Thanks for reading!!
Hello, guys! I just thought of updating this article to share my experience from the process of joining the event. I have successfully participated in the 13th Spotlight of KuCoin, featuring Lithium. It was just as easy as 1, 2 and 3. Just make sure to follow the mechanics and pray to be picked as one of the lucky winners.
This is what the users have been talking about since the subscriptions were launched: from Twitter, Telegram and even on Discord, so I saved my slot!
Users must hurry, as KuCoin will end the round of token sale registration by Aug 5, 2021. And make sure to have at least 20 KCS holdings on the said date!
You might also want to participate in this coming activity supporting the 13th Spotlight. I saved a screenshot of my participation to join this activity. Basically, participants just need to share the screenshot of their participation and fill-in the form. And viola! All qualified participants will equally share a 300 USDT reward pool!
I am wishing everyone good luck, and let’s hope to be part of the winners!