Greetings, Community!

We're excited to share an update regarding Litentry Burn eevnt #4 from the Inflation Model. In line with this model, the Litentry team is committed to burning a substantial amount of 377,800 LIT during the 4th quarter.

Here are the key details:

**Amount to be Burned: 377,800 LIT**

**Parachain Account:** 48W1VwWpMk9ZpA7HMRA15wyWygyGaLbA5VoJeczh67g7tdn9

For those who like visual confirmation, here's a Balance Wallet Proof: (View Here)

**Now, let's dive into the burning process:**

Transfer from Ethereum to Litentry Parachain: To initiate the burn, 377,800 LIT will be transferred from the Ethereum account controlled by the Litentry Foundation to the Litentry Parachain. You can review the Ethereum transaction here: 
(Etherscan Transaction)

**Transaction on Parachain Side:** Following this, you can verify the transaction on the Litentry Parachain side here: (Parachain Transaction)

Additionally, a referendum will soon be conducted to zero out the balance of the token-holding parachain account. This marks our 4th burn event out of a total of 8 planned.

We appreciate your continued support

Litentry is a company that is going to burn a lot of their LIT coins. They will burn 377,800 LIT coins during the 4th quarter. They will transfer the coins from Ethereum to Litentry Parachain to start the burning process. You can see the transaction on the Litentry Parachain side. They will also conduct a referendum to zero out the balance of the token-holding parachain account. This is the 4th burn event out of 8 planned.

proposal

Litentry Token Burn Event #4

*This proposal is part B of 2 proposals that tackle the same problem-solution definition below.* 

Litentry is currently missing end-to-end usecase enabled by the IdentityHub. Litentry is an identity aggregator but is experiencing bottlenecks at both ends of it’s product journey. Therefor not being able to deliver on it’s value proposition. The first one located at the start of the product journey where data forms the input for identity based usecases and the second one being at the end of the product journey where data output in the form of identity insights unlocks usecases. 

**Additional context for this proposal** 
Verifiable credential should claim their space next to NFT’s, SBT’s and token. We need to unlock this mindshare with the help of usecases Web3 users already understand. [Guild.XYZ](http://Guild.XYZ) is a great example, not making use of credentials, but already making use of on-chain data to unlock community moderation usecases. A discord bot coul allow projects and organisations to build their organisational stack on top of credentials

**Objective:** Develop a minimum viable product Litentry Discord bot that enhances community engagement, access gating, and audience segmentation through credential-based moderation, thereby adding value to the Litentry ecosystem.

**Description:**
The Litentry Discord bot will serve as a bridge between Litentry's identity aggregation capabilities and Discord communities. The bot will facilitate access control, audience segmentation, and transportable reputation using verifiable credentials.

**Features:**

1. **Access Gating:** Enable users to access specific channels or features based on the possession of certain verifiable credentials. Discord roles can be linked to verifiable credentials to ensure controlled access.
2. **Audience Segmentation:** Utilize verifiable credentials to segment the Discord community based on specific criteria. This could lead to more targeted discussions and interactions within the community.
3. **Transportable Reputation:** Create a system where users can carry their reputation and achievements across different Discord servers that implement the Litentry Discord bot.
4. **Integration with Credentials:** Enable users to convert Discord roles into verifiable credentials and vice versa, creating a seamless connection between Discord identities and verifiable credentials.

**Benefits:**

- Enhanced community engagement and interactions within Discord communities.
- Implementation of a tangible use case for verifiable credentials.
- Strengthening of the Litentry ecosystem by extending its utility to Discord communities.

By executing these proposals, Litentry can overcome the challenges it currently faces in delivering its value proposition by addressing data input and output bottlenecks, ultimately enhancing the overall user experience and utility of the platform.

Litentry is a company that helps people manage their identities online. They are having some problems with their product, which is supposed to help people use their identities in different ways. 

To fix this problem, they want to create a new tool called the Litentry Discord bot. This tool will help people use their identities in a new way on Discord, which is a popular chat app.

The Litentry Discord bot will have four main features. It will help people control who can access certain parts of a Discord server, it will help people group together based on certain criteria, it will help people carry their reputation from one Discord server to another, and it will help people connect their Discord identity to their identity on other websites.

By creating this new tool, Litentry hopes to make it easier for people to use their identities online and to make their product more useful.

bountyId

Proposal B: Litentry Discord Bot for Credential Based Moderation

*This proposal is part A of 2 proposals that tackles the same problem-solution definition below.* 

Litentry is currently missing end-to-end usecase enabled by the IdentityHub. Litentry is an identity aggregator but is experiencing bottlenecks at both ends of it’s product journey. Therefor not being able to deliver on it’s value proposition. The first one located at the start of the product journey where data forms the input for identity based usecases and the second one being at the end of the product journey where data output in the form of identity insights unlocks usecases.

**Additional context for this specific proposal** 
To generate verifiable credentials there is the need to receive clean and structured on-chain data which requires an indexer to make sense of the raw blockchain data. Structuring and labeling tha data so it provides an insight or ‘truth statement’ about the subjects identity or characteristics. 

**Objective:** Develop a Litentry Data Adapter that facilitates the creation of verifiable credentials through API endpoints, allowing projects and indexers to easily structure and deliver on-chain data for credential generation. This could be in the form of a small web app or interactive documentation. 

**Description:**
The Litentry Data Adapter will address the bottleneck of input data by defining a standardized logic and data format for receiving raw blockchain data via API endpoints. It aims to empower projects and indexers with the ability to structure, label, and provide meaningful insights about subjects' identities or characteristics, facilitating efficient credential creation.

**Features:**

1. **API Endpoint Standardization:** Define a standard API endpoint format for projects and indexers to deliver structured data for credential creation. Making it easy for TEE workers to hit the endpoint and extract the necessary data for assertion creation. 
2. **Data Segment Examples:** Provide examples of request and response bodies for different types of data segments to guide projects in formatting their data accordingly to formats that are easy to integrate by the Litentry team. 
3. **Customizability:** This tooling allow projects to customize the type of data they want to use for credential creation, giving them flexibility and agency over the credentials they generate without the need to rely on dedicated services from the Litentry team. 

**Benefits:**

- Streamlined process for projects and indexers to contribute structured data for credential creation.
- Increased agency over the verifiable credentials used within the Litentry ecosystem.
- Expanding the scope and diversity of verifiable credentials available for users within Litentry's profile feature, Discord bot, and future use cases.

By executing these proposals, Litentry can overcome the challenges it currently faces in delivering its value proposition by addressing data input and output bottlenecks, ultimately enhancing the overall user experience and utility of the platform.

Litentry is a platform that helps people manage their identities, but it has some problems that need to be fixed. One problem is that it's hard to get the right information to create identity-based things. Another problem is that it's hard to use the information to make useful things. 

The Litentry Data Adapter is a tool that will help fix these problems. It will make it easier for people to give Litentry the right information to create things like verifiable credentials. 

The Litentry Data Adapter has some cool features. It will make it easy for people to give Litentry the right information by using a standard format. It will also give examples of how to format the information. And it will let people choose what information they want to use. 

Using the Litentry Data Adapter will help Litentry make better things for people. It will make it easier for people to use Litentry and get the things they need.

Proposal A: Litentry Data Adapter for API-based Credential Creation

I have no real tech education or knowledge and for this reason I think I'm the perfect person to explain why this industry falls short when it tries to appeal to ordinary people.

A 'tech revolution' 'web 3' etc gets people excited but it also scares and alienates people and because it is so difficult for most people to understand.

You need to talk about the good technology that already exists rather than the endless possibilities and the changing world because it is too daunting for customers. 

**I'd describe and try and sell Litentry using contactless card payments as a digestible example**. Where you no longer have to enter your bank pin to make a payment. It's a widespread technology that's safer and easier because you have to reveal less information during the transaction. This aligns nicely with the ethos of Litentry.

IT DOESN'T MATTER THAT BLOCKCHAIN PAYMENTS AND CONTACTLESS PAYMENTS AREN'T THE SAME THING.

**WE MAKE THINGS EASIER** 

This is a better line to tread than 'trustless' 
People will never trust something they don't understand and the idea that this information is 'unhackable' and 'encrypted' and 'trustless' will just not be accepted by ordinary people at this stage. It displays the prowess of the technology to money hungry investors but it doesn't make it digestible to anyone wanting to actually use it.

'We make things easier' is what allows McDonald's to factory farm and Google/Apple/Amazon to be successful.

Don't talk about the blockchain technology if you want to attract ordinary people. People need to know they are not even using crypto technology. They don't care how it works, they just want something that makes things easier. 

Crypto is fundamentally seen as unreliable and people feel more comfortable sharing personal information with google than Litentry regardless of how their data is used because even though they should, on the whole people just don't give a shit.

Make things easier otherwise you aren't providing a service, people have made it clear they don't care that much about their data being used so stop talking about it. Your idea of 'trustlessness' is the strong moral foundation and backbone of this technology but people don't need to hear about it. It will help the workers of Litentry feel good about working at Litentry but it won't help sell Litentry to anyone else.

It feels perverse to stray away from the thing that makes you stand out but I do believe that it would be wise to just steer clear until people are more comfortable with the industry.
...




1. Technology can be difficult for most people to understand.
2. Litentry is a technology that makes contactless payments safer and easier.
3. Litentry's focus should be on making things easier for people, rather than emphasizing its blockchain technology.
4. People don't care about the technical details, they just want something that makes their lives easier.
5. Litentry's idea of 'trustlessness' is important, but it doesn't need to be emphasized to attract ordinary people.

Marketing Strategy

## Which scenarios are worth doing? Which are not?

**(1) If the value of data is not higher than the cost of storage and confidential computation onchain, it is not a good or appropriate scenario.** 

As most of the transactions that web3 users have in social and game dapp are clearly lower than the on-chain cost, **it limits Litentry's potential for integration with web3 social and game dapps**. 

**(2) Only the scenario having sensitive and valuable user data are worth doing.** 

I am constantly thinking about which data is worth protecting for users and meanwhile valuable for data buyers.

For example, web2 user data such as **credit card consumption records**, Taobao / Pinduoduo / Amazon **purchase records** are most valuable, and of course all these data are manipulated and monetized by web2 companies. 

In a web3 scenario, a web3 social dapp is saying that if a user earns a certain amount of achievements in Game A, they can start playing at level 30 in Game B. It makes sense, but they are not very valuable.

**(3) What if** a dapp collects a user's credit card consumption records, stores them on-chain in AES encryption format, and uses Litentry's ability to generate Verifiable Credentials for potential B-end buyers? 

Currently I don't have a clear answer about what user data are most valuable and worth doing. Any comments or suggestions are welcome.

## What is true data sovereignty?

- Level 1: **In web2** **users do not own their data**, companies own and monetizes their data.
- Level 2: In the present, **web3** **users' data becomes a public good and is not owned by themselves**. For example, on-chain analytics tools, such as Nansen, aggregate and analyze on-chain data without returning the value to the owners. Some Whales trading data are mined and sold, but the whales don’t get paid.
- Level 3: **True data sovereignty**. It can be achieved when web3 users have control over their data through **totally data ownership, onchain / offchain data encryption, and data sharing permissions.** This ensures privacy and monetization to users.

Currently a lot of web3 projects are playing on level2, **but Litentry with its sidechain has the ability to achieve level 3**.

## This proposal includes the following potential scenarios:

**(1) Integration with blockchain storage services**

To enhance Litentry sidechain's data storage capabilities. User's web2 data is encrypted (such as by AES) and stored in public blockchain storage. Litentry generates Verifiable Credentials under user’s permission, while not exposing any privacy information. One use case is web2 user data vault.

**(2) Embrace the Ethereum ecosystem**

To accelerate interoperability with the EVM compatible blockchains. Litentry should prioritize interoperability with AA wallets to get more web2 users involved and explore unique B-side confidential computation use cases.

**(3) Connect with more off-chain scenarios**

Such as off-chain KYC service, where the sidechain fetches users' KYC results from, uploads them in AES format to public cloud storages, only user and sidechain share the AES password,  and sidechain generates Verifiable Credentials(even in SBT format) for DeFi projects.

Litentry is a platform that helps protect user data and allows them to control it. 

Only scenarios that involve sensitive and valuable user data are worth doing. 

Litentry aims to achieve true data sovereignty, where users have control over their data through data ownership, encryption, and sharing permissions. 

Potential scenarios include integration with blockchain storage services, embracing the Ethereum ecosystem, and connecting with more off-chain scenarios. 

Litentry's sidechain has the ability to achieve level 3 data sovereignty.

Proposal of bridging valuable web2 data to web3

**TLDR**
The next major application of Web3 is in gaming. Web3-powered games will operate on Layer 2, ensuring minimal transaction fees and high transactions per second (TPS). To seize this opportunity, early collaboration with game projects and expansion across different mainstream Layer 2 platforms is essential.


In just a short span since its inception in August, Identity Hub (IDHub) has successfully garnered a substantial user base, numbering in the thousands. However, the challenge we face lies in effectively harnessing this user base to propagate the value and capabilities of IDHub. This proposal delves into the factors currently limiting our user-base expansion and presents a strategic approach to address these challenges.

**Challenges in Spreading IDHub**

Unclear Usage Scenario: Many users who have engaged with IDHub find themselves at a crossroads after completing initial tasks, lacking clarity on subsequent actions. This uncertainty leads to a lack of motivation to advocate for IDHub within their networks.

Business-Oriented Nature: IDHub, being tailored for business-oriented purposes, necessitates a bridge between B-end customers and C-end users, a dynamic commonly referred to as the B2B2C model. This model has the potential to significantly enhance our reach.

**Strategic Approach**

To capitalize on the points mentioned above, our strategy revolves around leveraging the inherent potential of IDHub by fostering partnerships with B-end users to effectively connect with a wider C-end audience. By creating a symbiotic relationship that drives a cascade effect, wherein B-end users collaborate with IDHub to access C-end users, we aim to establish a virtuous cycle of growth.

**Choosing the Right Path**

The next logical step in this trajectory is to meticulously select a targeted avenue for expansion. After careful analysis, three potential tracks stand out: Games, Decentralized Finance (DeFi), and Social Networking.

Excluding DeFi: Given that the project's objectives do not align with the user portrait requirements of DeFi projects, which predominantly focus on Total Value Locked (TVL), we find it prudent to exclude the DeFi track from our immediate focus.

Eliminating Social Networking: While the notion of Web3 social networking holds promise, the current landscape lacks the robustness needed for IDHub's strategic alignment. Collaborations with projects in the social networking domain might be explored in the future, but the existing scope appears to be limiting.

Focusing on Gaming: In light of these considerations, the gaming track emerges as the most auspicious avenue. The burgeoning Web3 gaming sector has attracted substantial venture capital investment, indicating a confluence of capital and user interest. This fertile ground of opportunity aligns well with IDHub's growth trajectory.

**The next Question: What are the requirements of game project stakeholders?**
Answer: Precise User Segmentation and Profiling

Role of User Segmentation: Game enthusiasts generally align with the Pareto principle, with paying users constituting around 20%. Among these, only a small fraction are willing to make substantial monetary contributions to gaming. To enable targeted outreach and incentivization, the project stakeholders require comprehensive insights into these high-value users.

Role of User Profiling: Facilitating Strategic Engagement. Many project stakeholders adopt a strategic approach, selecting affluent users from well-known gaming communities to execute focused campaigns, such as airdrops. Understanding details like a user's gaming history, current game preferences, and financial investment in games is pivotal for this purpose. This information is especially pertinent to wallet addresses.


Based on the above analysis, I suggest that the usage cases and promotion strategies of IDhub are as follows:

**Phase 1: Selecting the Optimal Layer 2 Ecosystem**

Evaluating Layer 2 Solutions: Begin by identifying a suitable Layer 2 public chain, such as Arbitrum, that offers advantages like low gas fees and a substantial user base. Additional options with similar attributes include emerging platforms like opBNB, Matic Layer2, and Combo.

**Phase 2: Strategic Integration and Collaboration**

Strategic Partner Selection: Identify a prominent game project operating within the chosen Layer 2 ecosystem. Secure an agreement to seamlessly integrate the game's on-chain logic into the IDHUB, establishing a reciprocal arrangement. Negotiate a strategic partnership with the game project to jointly foster growth.

**Phase 3: Synergistic Data Utilization and Expansion**

Data Synergy and Collaborative Expansion: Utilize the accrued data in tandem with other game projects to forge synergistic collaborations within the IDHub framework. The tripartite benefits are as follows:

**Benefit for Game Projects:** Enable access to targeted wallet addresses upon payment, unveiling user portraits. This data is pivotal for personalized outreach and incentives.

**User Empowerment:** Users capitalize on project party authorization fees by contributing their authorization data.

**Platform Facilitation:** Litentry, functioning as the platform, earns commissions for facilitating these interactions.

**Phase 4: Sustainable Growth and Network Expansion**

Continued Growth and Network Expansion: Maintain an ongoing partnership with game projects, fostering user engagement and amplifying presence across diverse blockchain chains. This iterative approach ensures steady expansion and deeper integration within the gaming landscape.

By methodically executing these phases, a symbiotic ecosystem is cultivated, promoting engagement among stakeholders, empowering users, and propelling the progressive expansion of IDHub's influence across varied blockchain networks.
















1. IDHub is a platform that has many users, but some users are unsure of what to do next.
2. IDHub is mainly for businesses, so it needs to connect with both business and regular users.
3. IDHub plans to expand by partnering with game projects, as the Web3 gaming sector is growing and has a lot of potential.
4. Game project stakeholders require precise user segmentation and profiling to target high-value users.
5. IDHub plans to select a suitable Layer 2 public chain, strategically integrate and collaborate with game projects, utilize data synergy, and continue to grow and expand.

Proposal of promotion strategies and use cases of IDHub

Greetings, Community!

We're excited to share an update regarding Litentry's Identity Staking Inflation Model. In line with this model, the Litentry team is committed to burning a substantial amount of 377,800 LIT during the third quarter.

Here are the key details:

- **Amount to be Burned**: 377,800 LIT
- **Parachain Account**: 48W1VwWpMk9ZpA7HMRA15wyWygyGaLbA5VoJeczh67g7tdn9

For those who like visual confirmation, here's a **Balance Wallet Proof**: [View Here](https://imgur.com/a/LtEW2lR).

Now, let's dive into the burning process:

1. **Transfer from Ethereum to Litentry Parachain**: To initiate the burn, 377,800 LIT will be transferred from the Ethereum account controlled by the Litentry Foundation to the Litentry Parachain. You can review the Ethereum transaction here: [Etherscan Transaction](https://etherscan.io/tx/0xf7de93d3eabb5bfdd8a2e473cb34c7d4038bea217c73f0f9b766e407f442f3af).

2. **Transaction on Parachain Side**: Following this, you can verify the transaction on the Litentry Parachain side here: [Parachain Transaction](https://litentry.statescan.io/#/extrinsics/3077697-2).

Additionally, a referendum will soon be conducted to zero out the balance of the token-holding parachain account. This marks our third burn event out of a total of 8 planned.

We appreciate your continued support



Litentry, a blockchain-based identity verification platform, has announced that they will be burning 377,800 LIT tokens during the third quarter of the year. This is in line with their Identity Staking Inflation Model.

The tokens will be transferred from the Ethereum account controlled by the Litentry Foundation to the Litentry Parachain.

A referendum will soon be conducted to zero out the balance of the token-holding parachain account.

This is the third burn event out of a total of 8 planned.

Litentry appreciates the continued support of its community.

Litentry Token Burn Event #3

Proposal Example

**Context of the bounty**
We aim to have as much context as possible to understand how the bounty proposal came to the proponent's mind.
Please include here:
any points discussed in advance in any channel related to the bounty proposal and any background research completed for your project. 
Information about the main topic areas covered by the bounty, including links to any related resources.
the rationale and reasoning behind the total allocation requested for the bounty.

**Problem statement**
Which problem(s) is the bounty proposal trying to solve? Which concepts does the bounty cover? Make it as granular as possible. 

**Proposal objective(s) or solution(s) **
What is the goal of the bounty? Explain the solution(s) in development after taking into consideration the context and the problem to ensure a complete and balanced bounty proposal. 
Include milestones, tasks, or specific goals of the bounty.
Mention any tools or resources that will be used to develop the tasks, if any.

**Bounty report**
How will you evaluate the 'success' of this bounty? Which specific targets are you looking to achieve in the context of this bounty? How and when will you communicate on your progress towards the bounty objectives? Consider the kind of impact you want your solution(s) to have.

**Comments, Qs&As**
Include here any relevant public information, questions along with their respective answers about this bounty proposal that have been covered on any communication channels to date.


SubSquare is proposing a bounty for the development of a new feature for their platform.

For a second-grade student:

- SubSquare wants to add something new to their website.
- They are offering a prize for someone to help them make it.
- They have a plan for what they want to add.
- They will check to make sure it works well.
- They will tell everyone when it's done.

Bounty Proposal: Test Proposal

This proposal addresses the maintenance costs on Subsquare and Statescan platforms for Litentry and Litmus networks during Q3-Q4 2023. Subsquare serves as a governance platform, while Statescan operates as a dedicated blockchain explorer for substrate-based blockchains. Our aim is to secure the necessary funds to ensure smooth operations and sustained functionality of our governance services in these essential platforms during the specified period.

Beneficiary: 0x61197065B4Fb6a7C685588fB09ABd27CAe27fBC0
Date: 2023-08-07
Requested Allocation: $7,400 equivalent LIT token (11,029 LIT by the EMA7 price on 2023-08-7)

## Work scope
1. Do daily maintenance and DevOps work to make sure the Litentry and litmus subsquare/statescan deployment well running
2. Develop and deploy subsquare common features, parts of them:
  * Governance data statistics
  * Calendar feature
  * Address vote history
  * Subsquare new design
  * Preimages page
  
## Request
|Item|detail|Cost|
|----|------|-----|
|Litentry subsquare maintenance|2023 Q3 and Q4|$4,200
|Litmus subsquare maintenance|2023 Q3 and Q4|$3,000
|Litentry statescan maintenance|2023 Q3 and Q4|$200
|Litmus statescan maitenance|2023 Q3 and Q4|$0
|Total|		|$7,400

Litentry and Litmus networks need money to maintain their governance platforms, Subsquare and Statescan, during Q3-Q4 2023. Subsquare is a governance platform, while Statescan is a dedicated blockchain explorer for substrate-based blockchains. They need $7,400 to ensure smooth operations and sustained functionality of their governance services in these essential platforms during the specified period.

The work scope includes daily maintenance and DevOps work to make sure the Litentry and litmus subsquare/statescan deployment well running. They also plan to develop and deploy subsquare common features such as governance data statistics, calendar feature, address vote history, subsquare new design, and preimages page.

The requested allocation is $7,400 equivalent LIT token (11,029 LIT by the EMA7 price on 2023-08-7).

Litentry subsquare maintenance costs $4,200, Litmus subsquare maintenance costs $3,000, Litentry statescan maintenance costs $200, and Litmus statescan maintenance costs $0.

This proposal aims to secure the necessary funds to ensure the smooth functioning of Litentry and Litmus networks' governance platforms, Subsquare and Statescan, during Q3-Q4 2023.

Maintenance Cost for Subsquare/Statescan in Q3-Q4, 2023 - Motion #4

Hi Litentry Community,

I hope this message finds you well. I wanted to bring your attention to an important matter regarding the asset rescue of **720.70 LIT**. After thorough discussions on https://litentry.subsquare.io/post/2 and Discord Support Ticket, our community team has conducted a verification process to confirm the ownership of the Ethereum and Substrate accounts involved. Based on our findings, we strongly believe in proposing a motion to both the council and the wider Litentry community to support the asset rescue effort.

To provide transparency and evidence of ownership, we would like to share the following information:

Transfer Token Bridge Txn: https://etherscan.io/tx/0x149f2c0d78332f0d20d46c0d745fad3167394e013613901ee736846c388135f2

Proof of ownership of the Ethereum wallet: To verify the ownership of the Ethereum wallet, please refer to the following link - Etherscan Signature Verification: https://etherscan.io/verifySig/19250

Proof of ownership of the LIT wallet: We have provided a screenshot of the input data from the Ethereum transaction as proof of ownership. You can view it here: https://postimg.cc/c65Jb3GK

For reference, you can find the locked LIT address at the following link: https://litentry.statescan.io/#/accounts/493LBHLmoAuMEoncNbc3DaRxTsDAyWDdKZfZxuut9GrTCHuU

The address where the rescued assets will be sent is available here https://litentry.statescan.io/#/accounts/49PpvNtBBJSa8d9wn6oFsBgWbx83JS1m7CDGoA4z2VtdjVcT

We urge the entire community to come together and support this motion. By doing so, we can help the user in question retrieve their LIT. Your support and participation are crucial to the success of this endeavor.

Please feel free to ask any questions or provide your feedback on this matter. Let's stand united as a community and make a positive impact together.

Thank you for your attention and support.

Remy

Litentry Community Asset Rescue Effort:

- The community team has verified the ownership of Ethereum and Substrate accounts involved in the asset rescue of 720.70 LIT.
- They propose a motion to the council and the wider Litentry community to support the asset rescue effort.
- Proof of ownership of the Ethereum wallet and LIT wallet has been provided for transparency.
- The locked LIT address and the address where the rescued assets will be sent are available.
- The community is urged to support this motion to help the user retrieve their LIT.

source

dest

value

Support Token Rescue for Raenius#7875 due to Ledger Incompatibility

Hi Litentry Community,

I hope this message finds you well. I wanted to bring your attention to an important matter regarding the asset rescue of **720.70 LIT**. After thorough discussions on https://litentry.subsquare.io/post/2 and Discord Support Ticket, our community team has conducted a verification process to confirm the ownership of the Ethereum and Substrate accounts involved. Based on our findings, we strongly believe in proposing a motion to both the council and the wider Litentry community to support the asset rescue effort.

To provide transparency and evidence of ownership, we would like to share the following information:

Transfer Token Bridge Txn: https://etherscan.io/tx/0x149f2c0d78332f0d20d46c0d745fad3167394e013613901ee736846c388135f2

Proof of ownership of the Ethereum wallet: To verify the ownership of the Ethereum wallet, please refer to the following link - Etherscan Signature Verification: https://etherscan.io/verifySig/19250

Proof of ownership of the LIT wallet: We have provided a screenshot of the input data from the Ethereum transaction as proof of ownership. You can view it here: https://postimg.cc/c65Jb3GK

For reference, you can find the locked LIT address at the following link: https://litentry.statescan.io/#/accounts/493LBHLmoAuMEoncNbc3DaRxTsDAyWDdKZfZxuut9GrTCHuU

The address where the rescued assets will be sent is available here https://litentry.statescan.io/#/accounts/49PpvNtBBJSa8d9wn6oFsBgWbx83JS1m7CDGoA4z2VtdjVcT

We urge the entire community to come together and support this motion. By doing so, we can help the user in question retrieve their LIT. Your support and participation are crucial to the success of this endeavor.

Please feel free to ask any questions or provide your feedback on this matter. Let's stand united as a community and make a positive impact together.

Thank you for your attention and support.

Remy

Litentry Community Asset Rescue Effort:

- Litentry Community is trying to help a user retrieve their LIT assets.
- They have verified the ownership of the Ethereum and Substrate accounts involved.
- They are proposing a motion to the council and the wider Litentry community to support the asset rescue effort.
- They have provided proof of ownership of the Ethereum and LIT wallets.
- The community's support and participation are crucial to the success of this endeavor.

Hi Community !!!!

Based on [Litenry Identity Staking  Inflation Model](https://litentry.subsquare.io/post/3), the Litentry team will burn the equivalent amount of new issuance 377,800 LIT quarterly for the next two years instead of [568,750 LIT as previous motion](https://litentry.subsquare.io/council/motion/0)

The amount of LIT that should be burnt each quarter is：377,800 LIT
The Parachain account that holds the to-be-burnt tokens is: 48W1VwWpMk9ZpA7HMRA15wyWygyGaLbA5VoJeczh67g7tdn9

https://i.postimg.cc/1t2Qngrc/Screenshot-2023-05-31-at-18-33-44.png

**The burning procedure is as follows:**

377,800 LIT is transferred from the Ethereum account that is controlled by the Litentry Foundation to Litentry Parachain via the token bridge:
tx on eth side: https://etherscan.io/tx/0x24faf711014aebd4be91711ef8643f85037b0850d60bda762e554cfeb3380487
tx on parachain side: https://litentry.statescan.io/#/extrinsics/2434361-2
A referendum will be voted on to forcibly set the balance of the token holding parachain account to 0.
We have 8 burning events in total and this is the second burn event.



## Roadmap: Unleashing the Power of Identity Staking

We are delighted to share our roadmap for the introduction and integration of Identity Staking into Litentry's ecosystem. It has been a while since the concept of identity staking first been raised in the Litentry Light Paper. Based on the recent research and the prototyping of the mechanism of identity staking, we see it is an innovative feature that aims to empower our community and create a stronger, more connected Litentry ecosystem. As the [existing inflation mode](https://litmus.subsquare.io/post/1) has running for 6 months, we would like to bring the topic into discussion and prepare it from now on with a new inflation model. 

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Identity staking is a powerful tool that can increase the richness and reputation of decentralized identity. It motivates users to become more actively involved in managing and leveraging their identity, which is critical for unlocking the full potential of pseudonymous economies. By investing in their identity, users are acknowledging its importance and taking control of their online presence. 

1. Identity staking promotes active involvement and control in managing digital identity.
2. Staking enhances credibility and earns rewards for strengthening one's aggregated identity.
3. It serves as proof of humanity, combating bots and Sybil attacks.
4. Identity staking fosters an inclusive ecosystem with diverse contributions.
5. It increases token utility and supports long-term ecosystem growth.

### An incentive to shift the mindset

To fully grasp the potential of pseudonymous economies and unlock the benefits of a contextual digital identity, native web3 users must shift their mindset. They need to understand that their web2 identity was managed passively without much control or agency from the owner. Once they realize the importance of becoming a more active participant in managing their identity data, they can begin to reap the rewards of identity staking.

**Identity staking encourages users to take an active role in managing, aggregating, and leveraging their identity data.** Novice users can earn a higher return on their staked assets for any actions that increase the richness or complexity of their digital identity. For example, by proving ownership over additional accounts or contributing to communities with on-chain interactions, users can increase their provable credentials and earn rewards for their efforts.

### A stake in your humanity

**Digital identity, Sybil resistance, and proof of humanity are critical to the future of the internet**. It is more important than ever to differentiate real humans from bots, especially with the advent of AI-generated content and the proliferation of bots in Web3. Identity staking holds true to the original concept of 'staking,' where users' stake can get slashed when performing malicious behavior or being identified as a bot by the network. This economic deterrent, combined with the incentive to aggregate a decentralized identity from a multitude of accounts, points to one of the remaining ways to differentiate real humans from bots. It also combats the issue of Sybil attacks by requiring users to stake their tokens, making it much more difficult for attackers to create fake identities. This helps to ensure that the network is only populated by legitimate users, which can help to increase its overall security and reliability.

### Being rewarded for being ‘you’

Identity staking also creates a more inclusive ecosystem by incentivizing users to become more active in managing their identities and encouraging a wider range of people to participate in the network. This can help to increase the overall value of the network, as more people bring unique perspectives and skills to the table. One must also remind themself that the IdentityHub is a two-sided marketplace where identity owners and consumers can exchange the value of identity. The identity staking incentive can act as a market maker by attracting hard-to-find identities to the necessary opportunities.

Finally, identity staking can increase the overall utility of the Litentry token by providing users with additional incentives to hold and stake their tokens. This can help to ensure that the token remains valuable over the long term and ensure the continued success and growth of the Litentry ecosystem.

In conclusion, identity staking is a powerful concept that has the potential to revolutionize the way we think about decentralized identity. By incentivizing users to become more actively involved in managing and leveraging their identity data, we can unlock the full potential of pseudonymous economies and create a more secure, trustworthy, and transparent internet.

Thank You everyone to support this proposal

Litentry is a blockchain project that has come up with a new plan to burn 377,800 LIT tokens every quarter for the next two years. This is instead of the previous plan to burn 568,750 LIT tokens. The burning process involves transferring the tokens from the Ethereum account to the Litentry Parachain via the token bridge.

Identity staking is a new feature that Litentry is introducing to its ecosystem. It is a powerful tool that motivates users to become more actively involved in managing and leveraging their digital identity. It increases credibility, serves as proof of humanity, and fosters an inclusive ecosystem with diverse contributions.

Identity staking encourages users to take an active role in managing, aggregating, and leveraging their identity data. Novice users can earn a higher return on their staked assets for any actions that increase the richness or complexity of their digital identity.

Digital identity, Sybil resistance, and proof of humanity are critical to the future of the internet. Identity staking helps to differentiate real humans from bots and combats the issue of Sybil attacks by requiring users to stake their tokens.

Identity staking creates a more inclusive ecosystem by incentivizing users to become more active in managing their identities and encouraging a wider range of people to participate in the network. It can increase the overall utility of the Litentry token by providing users with additional incentives to hold and stake their tokens.

In conclusion, Litentry's new plan to burn tokens and introduce identity staking is a positive step towards creating a more secure, trustworthy, and transparent internet.

Litentry Token Burning Event #2

Based on [Litenry parachain inflation and collator staking](https://litmus.subsquare.io/democracy/external/1211250_0xabcfa3b1a5841a8841b72bf44cda89012468f7679e01b50652ce345a2a8692a4), Litentry team will continue to burn the equivalent amount of new issuance LITs from the inflation model quarterly for the next two years after collator staking is deployed.

The amount of LIT that should be burnt each quarter is：**568,750** LIT
The parachain account that holds the to-be-burnt tokens is: [48W1VwWpMk9ZpA7HMRA15wyWygyGaLbA5VoJeczh67g7tdn9](https://litentry.statescan.io/#/accounts/48W1VwWpMk9ZpA7HMRA15wyWygyGaLbA5VoJeczh67g7tdn9)

The burning procedure is as follows:
- 568,750 LIT is transferred from the [ethereum account](0x361C349127Dc80c3DAa03590aAA3f530F88ED997) that is controlled by the Litentry foundation to Litentry parachain via the token bridge:
  - tx on eth side: [750 LIT](https://etherscan.io/tx/0x932e56350a85cdb879d233961f25c6c68dd7cb0c4fc075580fb37f8424f8fb82) + [568,000 LIT](https://etherscan.io/tx/0x2d1de6fd515c1e50d4d0e2b5ac5068a5dcf387be9de4c4d2c447c20e0f6b5f10)
  - tx on parachain side: [750 LIT](https://litentry.statescan.io/#/extrinsics/1732889-2) + [568,000 LIT](https://litentry.statescan.io/#/extrinsics/1732913-2)
- A referendum will be voted on to forcibly set the balance of token holding parachain account to 0.

We have 8 burning events in total and this is the first one.

Litentry team will burn a certain amount of LIT tokens every quarter for the next two years after collator staking is deployed. The amount of LIT that will be burnt each quarter is 568,750 LIT. The burning procedure involves transferring the LIT tokens from the Ethereum account to the Litentry parachain via the token bridge. A referendum will be voted on to forcibly set the balance of token holding parachain account to 0. This is the first of 8 burning events in total.

Council Motions