Geneva, Switzerland, 1 March 2022; Liti Capital SA, the blockchain-powered Litigation Finance specialist that has brought this highly lucrative asset class to retail investors through tokenized equity, has today announced that it has integrated with Polygon.
Polygon, a secondary scaling solution for the Ethereum blockchain, is now a major player in some of the hottest areas in cryptocurrencies, such as DeFi (Decentralized Finance), DApp (Decentralized Application), DAO's (Decentralized Autonomous Organizations) and NFT's (Non-Fungible Tokens).
The ‘mapping’ of $wLITI on Polygon means that token holders can use the Liti Capital App to transfer their tokens from Ethereum to Polygon.
The Liti Capital team analyzed multiple options until validating the integration with Polygon. The choice to integrate with this Layer-2 chain was based on several factors, including the huge savings in transaction costs and speed.
For example, as of December 2021, the Ethereum blockchain processed about 14 transactions per second with each transaction costing on average around $25. Polygon, on the other hand, claims to be able to process up to 65,000 transactions each second with fees costing less than a fraction of a cent.
Liti Capital has two symbiotic tokens. Its $LITI token represents a share in the company under Swiss law. While the $LITI token gives access to voting rights and to dividend payment upon completion of a KYC process, it is not on any exchanges by design. For this purpose, the Company made a wrapped LITI (wLITI) for trading on Uniswap and other DEXes.
Jaime Delgardo, CTO at Liti Capital comments: ”Liti Capital’s decision to map its token on Polygon is expected to accelerate the adoption of our $wLITI token. Our community has been eagerly awaiting today’s news, and can now benefit from fast transactions and low gas fees.”
$wLITI token holders will now be able to transfer their tokens over to Polygon. It will take approximately 10 minutes for their tokens to appear on Polygon. When that is done, users can switch to polygon by simply clicking on : "Change Network to Polygon" in the Liti App.
At launch there will be three options:
While Liti Capital has provided three options for how long users can stake their tokens for, there are no lockups, meaning users can un-stake their $wLITI whenever they need to. The maximum $wLITI that can be staked is one million.
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 collected and issues the relevant amount back to the token holder.
On top of that, Liti Capital has created functionality that allows users to create separate stakes that vest over different times. So a user could stake some tokens for 30 days and then create a separate stake for 60 days.
Once the time period has come to the end, token holders can simply re-stake using any of the three options available and begin earning again.
Litigation Finance is the practice of buying a share of a court case and then helping to win that case, taking a portion of the profits. Buying a share of the case provides the plaintiff with the funds to continue their side of the battle. Then Liti Capital hires the best lawyers, and if they win the case, help to find and collect the award. Liti Capital considers ongoing court cases to be “assets,” and these assets are what stand behind the LITI token.
Because of the large payouts of these high-profile cases, these assets are extremely valuable. The Liti Capital team has extensive experience and a wide array of tools, including AI, that will help determine which cases are winnable as well as profitable.
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For further information, please email pr@liticapital.com
About Liti Capital
Liti Capital is a Swiss Limited Liability Company, specializing in Litigation Finance and FinTech. Liti Capital buys litigation assets to fund lawsuits and then helps the plaintiff win the case. Tokenized shares of the company lower the barrier of entry for retail investors, give token holders a vote in the decision-making process, and distribute dividends to token holders upon the success of the plaintiff.
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