Lit.it is a Web 2.0 & 3.0 short video, music and NFT platform where creators and users are rewarded for activity on the app through the concept of “Social Mining”.
LIT points are earned by users for activity in Lit.it. LITIT tokens are obtained through ‘Social Mining’ of the LIT points earned.
Users get a predetermined number of LIT points for performing various types of social and entertaining activity on the Lit.it app. Users can also directly reward each other for their content and active participation.
LIT points are convertible through ‘Social Mining’ to Solana based LITIT tokens. The conversion rate from LIT points to LITIT tokens is increasing after every transaction on Lit.it as it is getting harder to mine LITIT tokens.
There is a limited supply of 900M LITIT tokens. As the Lit.it community grows, the conversion rate from LIT points to LITIT tokens will increase and it will be getting harder to mine LITIT tokens. Over time, as the supply of the token will become more scarce, we expect that the value of LITIT tokens will increase.