Current Market Situation: As of now, Litentry does not have any official partnerships with market makers. This absence is a significant gap in our market strategy, affecting the liquidity and price stability of LIT tokens.
Previous Collaborations: Reference to the ongoing collaboration between Litentry and DWF, as highlighted in the Medium article. This partnership has laid a solid foundation for expanding our cooperation from investment into market making.
Importance of Market Makers: Market makers are vital for ensuring continuous trading, liquidity, and reducing price volatility, which are crucial for the healthy functioning of any cryptocurrency in the market.
Establishing a Market Making Partnership: The primary aim of this proposal is to establish a formal market making partnership with DWF. This partnership will fill the current void and is expected to bring a significant positive impact on the LIT token's market performance.
Strategic Allocation of Funds: Proposing the allocation of 1.5 million LIT tokens to DWF. This is a strategic incentive for the stability and growth of the Litentry ecosystem. It will be paid back after 1 year from DWF.
Enhancing Liquidity and Stability: Through this partnership, we aim to enhance the liquidity and market stability of LIT tokens, thereby increasing investor confidence and attracting new stakeholders to the ecosystem.
Alignment with Growth Objectives: This initiative is in line with Litentry's broader objectives of expanding its market presence, e.g expanding to new exchanges and markets.
The transaction will be initiated from Litentry Ecosystem Wallet to DWF allocation wallet
The multi-sig transaction has be settled on 11th Dec 2023, https://etherscan.io/tx/0xde7a709aed31dd0a4543294884495b8737b81492c1d5132986e709d0696017e2
Litentry, a cryptocurrency, does not have any official partnerships with market makers, which affects the liquidity and price stability of LIT tokens. Litentry aims to establish a formal market making partnership with DWF to enhance liquidity and stability, increase investor confidence, and attract new stakeholders to the ecosystem. Litentry proposes to allocate 1.5 million LIT tokens to DWF, which will be paid back after one year. The transaction will be initiated from Litentry Ecosystem Wallet to DWF allocation wallet and settled on 11th Dec 2023.