What is a LIT (Libero Insurance Treasury)?
LIT description.
LIT is the acronym for Libero Insurance Treasury which is a separate wallet in Libero's LAP system. The LIT uses an algorithm that backs the Rebase Rewards and is supported by a portion of the buy and sell trading fees that accrue in the LIT wallet.
In simple terms, the staking rewards (rebase rewards) which are distributed every 30 minutes at a rate of 0.02104% are backed by the LIT parameter, thus ensuring a high and stable interest rate to $LIBERO holders.
But the funds in this wallet don't just sit there. LIBERO will use Defi 3.0 Multichain Farming to increase the LIT exponentially to better support price floor.
The funds are bridged to other EVM-compatible blockchains - like Avalanche, Fantom, Solana, Metis, Polygon, etc. to farm at the highest APY farms and the profit returned to the LIT fund. So the LIT fund will grow exponentially with 100% additional value a year.
The LIT is dedicated to buy backs and burns of $LIBERO tokens when the LIBERO in BUSD/LIBERO liquidity pair supply is equal to or greater than 50% of the total supply.
LIT Wallet address: 0x94DC0b13E66ABa9450b3Cc44c2643BBb4C264BC7
Last modified 1yr ago