Stella (ALPHA) plans to rebrand as the full-chain leverage infrastructure protocol LitLayer

2024-06-22 09:59:14

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ChainCatcher news, the leverage strategy protocol Stella has released a brand redesign proposal aimed at expanding the dApp scope to leverage infrastructure protocols and renaming itself to LitLayer. This transformation will involve rebranding, new product direction, and changes in token economics.

According to reports, LitLayer is a full-chain leverage infrastructure protocol with an intent-based architecture. LitLayer will serve as a full-chain infrastructure that allows for the rapid and seamless creation of leverage trading applications on any chain. For on-chain traders, the LitLayer infrastructure will enable them to leverage the vast liquidity of centralized exchanges while maintaining self-custody.

LitLayer is currently still in development but has already received integration requests from over 10 protocols across more than 6 public chains, including some mainstream spot DEXs (with TVL exceeding $100 million) and perp DEXs. If the community approves the transition, LitLayer is expected to launch in September 2024.

As part of the rebranding, there will be a 1:1 migration from the current ALPHA token to the LTLY token. LTLY holders can earn infrastructure fees through a staking model and participate in governance, with a maximum supply of 3 billion LTLY tokens, distributed as follows:

Migration from ALPHA tokens: 1,000,000,000 LTLY tokens
Strategic partners: 525,000,000 LTLY tokens
Ecosystem and community incentives: 725,000,000 LTLY tokens
Airdrop: 300,000,000 LTLY tokens
Marketing/Security: 450,000,000 LTLY tokens

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Stella LitLayer dApp

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