Lition seeks to be a blockchain standard for business and to that end the team is building the first of a kind, advanced scalable private-public blockchain with deletable data feature suitable for entities. As such, blockchain based companies launching their applications from a distributed back-end can actually step out of their niche in readiness for commercial deployment thanks to a state of the art protocol that is co-innovated by Dr. Jürgen Müller, the CIO at SAP.
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Lition team is based in Berlin and their mantra is to “bring power to the people” and towards achieving this novel goal, they are going green with the aim of deploying their solutions to enterprises across the globe.
Already, Lition is progressing and after a successful ICO, the team has a working product, a P2P Energy dApp, that has been in commercial operations since Apr-2018. Besides, they did successful launch their MVP test-net. Their P2P Energy dApp is fully functional, in operation across 11 German cities serving more than 41 million households thanks to the firm’s approval as a licensed energy supplier demonstratively saving customers 20 percent off their energy bills and simultaneously increasing revenue by up-to 30 percent.
Behind Lition is a tenacious team led by Dr. Richard Lohwasser who holds a PhD.D. in energy economics and an all-rounded IT specialist and a blockchain expert. He also founded Clanintern.de and before joining Lition he was the Managing Director of Germany’s leading energy supplier, ExtraEnergie, overseeing more than 350 employees and revenue exceeding $1 billion.
Another team member is Dr. Kyung-Hun Ha who is the COO and co-founder who before Lition was a a senior director responsible for operations at GASAG, a US$ 1.4 billion leading energy supplier in Germany. Others include Dr. Manfred Gabriel, Jan Wiedenhaupt and Reinhard Lohwasser all of who are board members.
Advising Lition are Dr. Jürgen Müller, the Technology Advisor and CTO and Board Member of SAP, Kelly Ford who advises on Marketing, Sang-Seop Lee of Korea Block Chain Association (KBCA) and Prof. Dr. Markus Bick, a research expert.
As they inch closer to their goals of “bringing power to the people”, their successful ICO coupled with a working product mean their plans for this quarter—Q2 2019 is on course. Before July, they will launch smart grid use cases as well as a STO use case outside of real estate with a partner.
After that they shall privately release their mainnet and migrate different use cases to this mainnet before the start of the Genesis phase. In Q3 2019 they shall concentrate on growing their partner networks, publicly release their mainnet, launch the first STO and onboard dApp partners.
The involvement of Dr. Jürgen Müller of SAP as the Technology Advisor means Lition has a strong partnership with SAP. SAP is an established multi-billion company with more than 400 million users with more than 10,000 users. Innovating, SAP is developing a decentralized ledger with smart contracting capabilities with Lition providing the open source consensus layer.
Other notable partners include LongHash, Microsoft, Alpha Labs, Gasag, Advisum, Tokeny and Stanford Business. Apart from these mainstays, Lition has a contract with South Africa’s Nesa Capital, a op 10 solar power plant operator in South Africa with the goal of “exploring potential opportunities to eventually deploy the first commercially live peer to peer energy trading platform in South Africa.”
Because of a working product and their vision, Lition token sale was pretty successful. The ICO concluded after eight days between Mar 18, 2019 and Mar 26, 2019 as both soft and hard caps at $2 million and $5 million were struck in record time. It only took 13 minutes for their white listing to conclude raising $300k and 18 minutes for the public sale where $1.5 million was raised. Only BTC and ETH were accepted currencies.
Based off Ethereum, Lition (LIT) is an ERC-20 utility token with a total supply of 145 million. 39 percent or 58 million LITs were distributed to investors and each LIT changed hands at $0.1. Of note is that the token sale was geared towards enterprise contributors and not speculators. As such, there were no bonuses and all private sale contributors are locked for 3–6 months.
Apart from that, there is a Buy-Back option after six months as well as a HODL Highway program which is essentially a “choice between receiving an additional bonus of up to 25 percent via the HODL Highway, or a reduced downside of 50 percent of initial investment dollar amount via the Refund Program.”
Statistics indicate that the coin is changing hands at $0.136358 in Bitbox, IDEX, HotBit, Dicoin and Bilaxy with a low market cap of $3,522,621. As a result, ROI in USD is X1.26.
LIT/ETH Technical Price Analysis
At spot rates, LIT/ETH is up 36 percent since launch. It has a $762,958 in daily volumes and up 7.3 percent in the last hour. All the same, it has seen great runs in the last few weeks against similar projects like LTO, QNT and MITX. At spot rates, immediate resistance lies at 0.00092 ETHs and thanks to last week’s stellar gains,we expect prices to inch higher, close above this lie as bulls seek to drive LIT prices to above ATHs of 0.0015 ETHs. Everyone is waiting for the airdrop of bonus tokens happening tomorrow and once the price holds we think that investors will be confident that prices hold and might even start buying.
Disclaimer: This is not
Short term price catalysts
Here’s a thing or two about energy, going green and the well-being of the planet: conservation is upon us. That is why Lition is taking the initiative and rolling out a peer-to-peer energy trading. It’s a working product serving millions of households and drawing in revenue for Lition. With a working product and a GDPR compliant blockchain infrastructure that prioritize enterprises, investors should be positive on what lies ahead. Thanks to this clarity, new partners launching their dApp on this scalable network are sure that their client’s data are secure with consumers aware of the kind of data collected and better still can access these data on demand.
Aside from that there is involvement of SAP through Dr. Jürgen Müller. SAP is working on their blockchain and will incorporate Lition’s solutions. The fact that there are heavy weights like SAP and other influential partners like Microsoft is a hint of what lies ahead. Already, they have a deal with Nesa Capital of South Africa and plan on growing their partner network in Q3 2019.
Add that to the fact that the CEO is advising the German government on STO Framework while at the same time planning to launch the first STO this quarter before ramping up in the second half of the year is overwhelmingly bullish in the short to medium term for a coin that is changing hands for less than 20 cents. Even if LIT liquidity and market cap is low, it is because the team plans for the asset to trade from different exchanges as demand flows in lifting price.
Long term price catalysts
But what is interesting and this should pique the interest of hodlers is what is in store in the long term. Already Lition is a project has strong partners from the very beginning. If anything, the involvement of SAP’s cogs will add some credibility, attracting other projects. Of the infinite number of companies that can launch and successfully run their apps from through Lition’s high throughput and scalable blockchain, Nesa Capital of South Africa and Tomo Chain are the first.
Nesa Capital, a ” Top 10 solar power plant operator in South Africa” have ” signed a contract to begin exploring potential opportunities to eventually deploy the first commercially live peer-to-peer energy trading platform in South Africa.” Meanwhile, Tomo Chain, a ” Blockchain infrastructure that allows for a highly secure, low latency, and near-zero fee transactional system” have a deal where the two platforms will cooperate on technical integration and business development.
Sooner or later, projects seeking to comply with Europe’s GDPR regulation and leverage on Lition’s side-chains and deletability features while enjoying privacy and speed will flock to the platform. Because of their gravitation towards simplifying processing and acting as a secure layer where light clients of IoT devices can run from, there is instant value for LIT coins.
Furthermore, there are other benefits for the end user willing to stake their LIT tokens. To qualify, one will need at-least1000 LIT tokens which fluctuate depending on market conditions.
However, this will be done on a per side-chain basis which in turn requires subscription and rewards will be then based on transaction volumes of the subscribed side-chain and amounts staked. On the other hand, miners willing to stake must own a minimum of 20,000 LIT tokens.