Lit Protocol announces LITKEY token economics: 4.8% for ecosystem airdrops

According to ChainCatcher, according to official news from Lit Protocol, LITKEY will be used as its native token to pay for network services, incentivize node operators, and participate in protocol development as a governance token. LITKEY will be airdropped to early ecosystem builders, test network node operators, etc. before the launch of Lit V1 mainnet Naga.

The total supply of LITKEY is allocated as follows: investors and team tokens need to be locked for one year and unlocked linearly for four years, 4.8% is used for ecological airdrops, and the rest is allocated to public offerings, private offerings, and ecological incentives. The Naga mainnet will introduce a proxy app store, a new signature algorithm, and an optimized payment model to improve performance and scalability.