“We built a bridge between $LITH’s native token— an Ethereum-based ERC-20 token, and a basic BEP-20 token. The bridge makes $LITH swappable on the massive Binance Smart Chain,” said Adam Roorda, $LITH Token blockchain architect. “The BEP-20 token extends the $LITH Token functionality through a more affordable DeFi adoption process. Users can utilize the bridge to easily convert accumulated $LITH BEP-20 tokens for use on the Ethereum-based DEX’s and for future use on our platforms.”
“Our blockchain bridge and new PancakeSwap listing is the next big step in the evolution of $LITH Token,” said Andrew Rymer, $LITH Token founder. “Overall, our presence on PancakeSwap expands the $LITH community as well as our efforts to build an ESG-friendly business community.”
PancakeSwap is a type of decentralized exchange (DEX), known as an automated market maker (AMM), running on the Binance Smart Chain, a blockchain with much lower transaction costs than Ethereum.
LITH Token has decided to provide a low amount of initial liquidity on PancakeSwap to allow others an opportunity to potentially pool their own tokens in an effort to decentralize the supply. Adopters of the Ethereum Based LITH Token (ERC-20) are able to swap ETH for $LITH via Uniswap or MintySwap and use the LITH Bridge to convert to the BEP-20 version, where they are then able to provide liquidity with a pairing against BNB.
With PancakeSwap, there are no order books, bid/ask system or limit/market orders. Instead, traders PancakeSwap automatically draw liquidity from one or more liquidity pools, which then rebalance after the trade is complete.
Launched in June 2021, $LITH Token is combining technologies in the cryptocurrency and clean energy sectors to build an ESG-friendly business community and marketplace where companies can find other companies that are ESG-compliant: essentially fighting climate change by adopting sustainable supply chains and business models.
LITH Token is very much in favor of the use of lithium to enable the production of sustainable vehicles, including electric cars, which primarily run on lithium batteries. However, the traditional mining and extraction method of lithium, specifically in Chile and Argentina, where 50 percent of the world’s reserves of lithium are located, has damaged the environment.
To this end, LITH Token has specifically chosen to partner with Ensorcia and Sorcia Minerals, a mining company that uses a cutting-edge, proprietary technology mining process that casts a softer footprint on the local environment.
Additionally, LITH Token has created the Indigenous People’s Initiative (IPI), which helps to provide indigenous people with the tools and education for better living in a new and cleaner environment. To fund this Indigenous People’s Initiative, LITH Token (IG: @lithtoken) has opened an IPI wallet, which is currently funded with 10 million tokens. Moving forward, all profit from LITH Token merchandise sales will be used for the purpose of funding the IPI wallet and allowing for continual donations, in addition to more fundraising measures under development. LITH Token will maintain 50 percent of the profits of merchandise sold in USD and 50 percent through LITH Token buy backs. This approach allows LITH Token to have stable tokens on hand for short-term charitable goals, and LITH tokens that can grow in value for long term goals.
LITH Token merchandise is available for purchase through the official $LITH website at lithtoken.io; ALL proceeds from merchandise sales will benefit the Indigenous People’s Initiative.
About LITH Token (www.lithtoken.io):
The LITH mission is decentralizing and incentivizing a cleaner future through cryptocurrency.
The LITH Token (ERC-20 & ERC-1155) will be the cryptocurrency of choice for sustainable and socially conscious businesses to thrive. LITH utilizes blockchain technology to create an environment where all stakeholders within an ecosystem are incentivized to work together towards a common goal, creating a better world through decentralization and accountability in business.
View LITH whitepaper: see whitepaper tab on website.
Footnotes:
- LITH Token Bridge: https://lithbridge.web.app
- LITH Token (ERC-20) contract: 0xf8a4a419c2d7140e49ef952a7e7ae1bd4a8b6b9c
- LITH Token (BEP-20) contract: 0x747d9ba770d2fb035bc2350ea3c637fd10d6607f
