Liti Capital’s wLITI token, a wrapped version of the Swiss company’s LITI equity token, has been listed on Changelly PRO. $wLITI pairs with BTC and USDT are now available for trading.
This comes less than a week after listing on Bitcoin.com Exchange and less than two weeks on HitBTC.
“We are happy to welcome $wLITI to our big family of carefully curated cryptocurrencies and hope that our users will gain maximum benefits from this collaboration. We are proud to partner with a company that provides financial resources, strategic solutions and renowned connections to the best law firms worldwide to help plaintiffs obtain court awards for damages or losses they have suffered,” said a Changelly PRO spokesperson.
Litigation financing is the practice of bringing in investors to cover the cost of a lawsuit or arbitration in exchange for a portion of the profit. Companies such as Liti Capital purchase litigation assets for cases they deem to have a high chance of winning.
“We appreciate the amazing support that established exchanges such as Changelly PRO have shown for our $wLITI token. With high profile projects in the blockchain and decentralized finance spaces finally attracting mainstream interest, we are excited to explore the possibilities for $wLITI as a wrapped version of an equity token that offers regular people the chance to invest in an asset class that previously wasn’t available to them,” said Liti Capital CEO Jonas Rey.
wLITI is an ERC-20 wrapped version of the LITI equity token. Launched June 29, the wLITI token is suitable for trading on centralized exchanges like Changelly PRO, and also on DEXes, whereas the LITI token is only available through liticapital.com after meeting KYC requirements. wLITI can be exchanged for LITI at a token buyer’s request via Liti Capital’s app or website, which converts LITI to wLITI at a 1:5000 ratio and vice versa. The tokens will always maintain this ratio. The buyer is then able to trade their wLITI freely. Liti Capital does not directly sell wLITI.
Liti Capital uses the blockchain to manage its share registry. The development of its own blockchain-based case management tools is on its roadmap.
LITI is a true digital share of Liti Capital that has voting rights, pays dividends and is protected under Swiss law. It is purposely not designed to be on exchanges at this time.
Once Liti Capital purchases a portion of ownership of a case, it provides capital that can be used for legal fees, case management and strategy, expert witnesses, intelligence work and whatever else is needed to give the plaintiff the best chance of winning the case and collecting the award. The portion owned by Liti Capital becomes a “litigation asset” that backs the LITI token.
On Aug. 29, Liti Capital announced that it was funding a claim against Binance, which would enable affected individuals to pursue compensation in relation to the exchange failing on May 19.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!