Seattle-Based KaJ Labs Launches LITHO Token’s IDO, Donates $5 Million Towards Ripple’s Legal Defense Fund vs. SEC

By AIT News Desk On Aug 5, 2021

The future is here and it has arrived in the form of Lithosphere’s native token, Litho (LITHO). Litho’s Initial DEX Offering will be available on two IDO platforms – DxSale, and Unicrypt beginning Aug. 9, 2021 at 12:00 UCT until Aug. 16, 2021. Litho is the native coin of Lithosphere and it’s used for validating all transactions on the Lithosphere network.

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The initial token supply is 300,000,000. The token’s presale will represent 5 percent of the initial supply or 15,000,000 LITHO. The presale will be held on Binance Smart Chain, along with the help of two IDO platforms.

Once Lithosphere’s mainnet launches, Litho tokens will be used for gas in the Lithosphere network. Litho can be used for payments and staking to enhance the network’s security while earning rewards. Litho is also used in governance of the network, granting Litho owners the right to vote on proposals and make decisions on the future of the Lithosphere network.

In the future, both cross- and intra-chain transactions will consume a certain amount of Litho. Litho (LITHO) is the currency of choice in the Lithosphere network, although other crypto can be used since the Lithosphere blockchain supports interoperability with other blockchains.

The brainchild of KaJ Labs, the platform is the first blockchain technology to be powered by AI and Deep Neural Networks (DNN) to make smart contracts intelligent.

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Lithosphere adapts a Proof of Stake consensus algorithm and utilizes the novel Myriad Distributed Key Management (MDKM) technology for key management. The public key and private key are generated by nodes that communicate cooperatively. The public key is broadcast in the public chain and the private key is stored separately by a myriad of nodes through Variable Secret Sharing (VSS).

In addition to a new LEP100 token standard and novel LinBFT consensus algorithm, Lithosphere will launch several DeFi products including the Thanos Multi-Currency cross chain wallet; the LEP100 Token Launchpad – Litho Launchpad; Lithosphere blockchain (PoS); and a cross-chain DEX – LithoSwap which will come with NFT support.

Users can also look forward to the JOT NFT Platform, an NFT marketplace where users can create and distribute NFT cost effectively. Products also include FLEEK, a decentralized community-powered gig platform on blockchain, along with LUSD, an algorithmic cross-chain Stablecoin.

The Litho (LITHO) token presale provides investors with an opportunity to be apart of the future. The Lithosphere platform eliminates problems inherent in current blockchains. Going forward, products built by the Foundation won’t have human interventions. This will enable Lithosphere’s core development team to focus on launching new DeFi products and services.

KaJ Labs Foundation has a philosophy of social responsibility and will donate $5 million towards Ripple Labs’ legal defense fund against charges filed by the SEC. Ripple Labs created a network that provided fast, low-cost value transfer in the form of XRP cryptocurrency. The XRP cryptocurrency paved the way for innovations such as Lithosphere.

The SEC claims that selling XRP is the offering of an unregistered currency, or an illegal IPO. The litigation is now a benchmark case that amply demonstrates the lack of clarity in regulation surrounding cryptocurrencies.