We are proud to announce that we have received an unanimous positive vote from all Binance Validators and are therefore approved for an upcoming listing of LIT on the Binance DEX. This is an amazing achievement that would have not been possible without such a supporting community like you. Thank you for making this happen.

Trading will start this Friday, 26.7.2019 at 8pm CEST

Listing on the Binance DEX is another major milestone in our plan to ensure that we promote awareness about the LIT token and increasing trading liquidity for our community.

The Binance DEX stands out from a technical point as it makes use of trade blocks which makes it a lot more difficult to perform front-running and other malicious practices, thus providing a safer, more rewarding and secure trading platform for everyone. For these reasons, we believe that the Binance DEX is a premier option for traders of the LIT token.

To underpin this, we have three key features we would like to announce to facilitate switching LIT tokens in the ERC20 standard to the BEP2 standard when done before exchange listing on Friday, 26.7.2019, 8pm CEST:

1.) Earn 5% bonus LIT tokens on ERC20 tokens switched

Lition will use its ecosystem token reserve to add another 5% bonus tokens to any amount switched. For example, you will receive 1050 LITb tokens when you swap 1000 LIT tokens via the Bridge. These bonus tokens are immediately available, without any vesting. If you switch your ERC20 LIT after listing on the DEX, you can still enjoy 0% switching fees, but don’t get the 5% bonus.

2.) Lition guarantees a way back to ERC-20 standard soon

Currently, you can only switch one-way to BEP2. We’re working on a way back, which will go live soon — absolute latest by September.

3.) All trading fees are reimbursed by Lition — for a lifetime

Trading is more rewarding when you don’t have to worry about trading fees ever again! That’s why Lition is reimbursing all trading fees at the Binance DEX in LIT tokens equivalent to the fees paid to the chain. Forever, with no expiry date. The following three conditions apply:

  • Whitelist your BEP2 wallet by migrating at least 10.000 LIT before Friday, 26.7.19, 8pm CEST
  • Trading fees need to be paid in BNB
  • Capped at an equivalent of 25.000 USD trading volume per day per whitelisted wallet
  • Reimbursements are done every 10 USD in trading fees

How to swap your tokens

Lition has created a bridge available https://bridge.lition.io/. It can be used right away to swap Ethereum-based ERC20 LIT tokens to Binance chain-based BEP-2 LIT tokens (“LITb”).

Follow the following steps to start trading LIT on the Binance DEX as of Friday evening:

  1. Verify if you’re on bridge.lition.io and the SSL certificate (lock symbol) is issued to brige.lition.io. If not, you’re not on the right page and likely to lose your tokens.
  2. Create a BNB wallet here
  3. Type the address (bnb…) into the address field on the right
  4. Transfer your ERC20 tokens to the unique Ethereum address generated for your transfer
  5. Once transferred, click the next button. We will then send you the LITb tokens
  6. You can now start trading on the Binance Decentralized exchange

Next steps

After trading begins on Binance DEX, Lition will focus on the next big challenge: qualifying for the monthly BEP2 Community Listing Project to list on the main Binance Exchange. Exciting times are ahead of us and we will be providing further updates in the coming days! Thanks once again!

Lition Blockchain

Blockchain: The standard blockchain for enterprises and regulated markets

Richard Lohwasser / Lition

Written by

Lition Blockchain

Blockchain: The standard blockchain for enterprises and regulated markets

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