Liti Capital, a Swiss-based litigation funding provider, has launched staking for its wLITI token. As of Sept. 13, wLITI token holders will be able to stake their tokens and receive wLITI in return.
“Staking is a crucial tool to be attractive in the DeFi space and to reward our community for supporting us long term,” said Jonas Rey, Liti Capital’s co-founder.
Token holders stake their tokens by heading to the Liti Capital app, on the Liti Capital website, connecting a compatible wallet, and selecting staking. The product does not require holders to go through any KYC checks. Users can receive four per cent APY for 30 days, six per cent APY for 60 days, and nine per cent APY for 90 days. If a user decides they want to un-stake their tokens, instead of losing all the rewards, the system calculates how much interest the user has accumulated and issues the relevant amount back to the token holder.
“The community is one of the most important factors in the success of blockchain projects,” said Jaime Delgado, Liti Capital’s chief technology officer. “The staking program is one of the mechanisms by which the community is rewarded for its fidelity to the project and at the same time reduces the market share of wLITI in circulation which is beneficial for both the holders of wLITI and the company.”
Liti Capital is spearheading an arbitration lawsuit on behalf of a group of traders who lost millions of dollars of trades on May 19 when Binance froze their accounts for approximately one hour. Some believe this case — the first-ever group action case in the crypto sector — will be a landmark event in defining how organizations operating in the industry behave and treat their customers.
Since Liti Capital’s launch early this year, it has raised $19 million to secure assets of up to $200 million, which if successful, will pay out a dividend to token holders.
