Lithium Finance

About Lithium Finance

{"time":1704989057000,"blocks":[{"data":{"level":6,"text":"Highlights"},"type":"header"},{"data":{"items":["Lithium Finance is the first decentralized data oracle solution that uses collective intelligence in order to regularly price liquid assets which are difficult to evaluate.","Lithium Finance implements a powerful DMI mechanism that is able to source prices for any asset through a decentralized honest-rewarding protocol on-chain.","Has raised $7.6 million in total thus far."],"style":"unordered"},"type":"list"},{"data":{"level":6,"text":"Product"},"type":"header"},{"data":{"level":1,"text":"There are two main things that the Lithium system introduces, and these are the Wisdom Nodes and the Wisdom Seekers."},"type":"header"},{"type":"paragraph","data":{"text":"Anyone interested in learning the price of an asset will use LITH tokens, which is the native token, to provide a bounty, and those with expertise in delivering answers can stake LITH to signal a high level of confidence in their answers."}},{"data":{"level":6,"text":"Problem"},"type":"header"},{"data":{"level":1,"text":"When it comes to the pricing information relating to private and liquid assets, an example being pre-IPO companies, it is difficult to predict accurately."},"type":"header"},{"type":"paragraph","data":{"text":"It is private and, as such, infrequently updated as a result. This pricing process is slow and expensive, so it is only limited to a few assets."}},{"type":"image","data":{"caption":null,"stretched":false,"url":"https://assets.polkastarter.com/5szafnnwyl9b75oy31ob59ldfxlo","withBackground":false,"withBorder":false,"file":{"url":"https://assets.polkastarter.com/5szafnnwyl9b75oy31ob59ldfxlo"}}},{"data":{"level":6,"text":"Solution"},"type":"header"},{"data":{"level":1,"text":"Data oracles currently do not provide regularly updated pricing for private companies."},"type":"header"},{"type":"paragraph","data":{"text":"Current price discovery is impossible due to the fact that brokers and investors have no incentives to disclose the latest price of private companies. Decentralization can remove trusted intermediaries and create efficient, transparent, and sufficient pricing for everyone. As such, Lithium Finance allows experts, which are the Wisdom Nodes, to answer a series of questions about the pricing of an upcoming private stock sale and stake tokens in order to signal a high level of confidence in their answers. The more they stake, the more they can win."}},{"type":"image","data":{"caption":null,"stretched":false,"url":"https://assets.polkastarter.com/tjd6igd1st8unfonmtni6f9n2g3p","withBackground":false,"withBorder":false,"file":{"url":"https://assets.polkastarter.com/tjd6igd1st8unfonmtni6f9n2g3p"}}},{"data":{"level":6,"text":"Business Model"},"type":"header"},{"data":{"level":1,"text":"Lithium Finance has invested in their idea and would like to see the issues that they are trying to solve become fully resolved."},"type":"header"},{"type":"paragraph","data":{"text":"This is the main incentive behind the project. The fund that they have raised will go towards the development of the product, where they will introduce new team members, specifically on the BD front, to ensure that the project has long-term sustainability."}},{"data":{"level":6,"text":"Market"},"type":"header"},{"data":{"level":1,"text":"Lithium Finance's main competitors are Chainlink, Tellor, Band Protocol, and NEST protocol."},"type":"header"},{"type":"paragraph","data":{"text":"However, where Lithium Finance truly shines is in the fact that, while all on-chain protocols use publicly available pricing information, Lithium generates prices that are not available on-chain or anywhere really. The source leverages hundreds of contributors and ensures that the best answers are encouraged from all of the sources."}},{"data":{"level":6,"text":"Investors"},"type":"header"},{"data":{"level":1,"text":"Lithium Finance has raised a total of $7.6 million thus far."},"type":"header"},{"type":"paragraph","data":{"text":"This came from notable investors, such as Pantera and hashed, which are the top entities that invested in Lithium.\r\nAdditionally, Lithium also saw investment from notable entities such as Alameda Research, Huobi Ventures Blockchain Fund, OKEx Blockdream Venture, and FBG Capital."}},{"type":"image","data":{"caption":null,"stretched":false,"url":"https://assets.polkastarter.com/8m3576o4aexwrqkgemforotkiwyx","withBackground":false,"withBorder":false,"file":{"url":"https://assets.polkastarter.com/8m3576o4aexwrqkgemforotkiwyx"}}},{"data":{"level":6,"text":"Team"},"type":"header"},{"data":{"items":["\u003cb\u003eDavid Lighton\u003c/b\u003e\r\nCo-Founder of Lithium and Founder and CEO of SendFriend"],"style":"unordered"},"type":"list"},{"type":"image","data":{"caption":null,"stretched":false,"url":"https://assets.polkastarter.com/5zedmwe8e4syo58cvv1r18of5p0i","withBackground":false,"withBorder":false,"file":{"url":"https://assets.polkastarter.com/5zedmwe8e4syo58cvv1r18of5p0i"}}},{"data":{"items":["\u003cb\u003eSteve Derezinski\u003c/b\u003e\r\nCo-Founder of Lithium and a Senior Executive and MIT Blockchain Engineer \u0026 MBA"],"style":"unordered"},"type":"list"},{"type":"image","data":{"caption":null,"stretched":false,"url":"https://assets.polkastarter.com/8p9gx5oyb8omdu1c67978le1q547","withBackground":false,"withBorder":false,"file":{"url":"https://assets.polkastarter.com/8p9gx5oyb8omdu1c67978le1q547"}}},{"data":{"items":["\u003cb\u003eSteven Ciraolo\u003c/b\u003e\r\nHead of Blockchain","\u003cb\u003eAbhishek Ray\u003c/b\u003e\r\nSenior Blockchain Developer"],"style":"unordered"},"type":"list"},{"data":{"level":6,"text":"Token Utility"},"type":"header"},{"data":{"level":1,"text":"$LITH is the native cryptocurrency token."},"type":"header"},{"type":"paragraph","data":{"text":"You can earn $LITH by answering questions that are asked by the Wisdom Seekers, ones that are deemed satisfactory by the protocol.\r\nYou can generate token income over time just by being a meaningful contributor."}}],"version":"2.27.2"}