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Council motion #59

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User Staking amount balance recover - 5

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- Litentry is changing its name to Heima Network and its token from LIT to HEI.
- The change is to focus on making it easier for users to move between different blockchains.
- They will update all their branding and work with exchanges to make the switch smooth.
- They are also changing how they manage their funds to make things more transparent.
- The total number of tokens will stay the same, but more will be available for use.
- They plan to create new ways for people to trade HEI tokens.
- The community is asked to vote on these changes to help the network grow.

Council motion #48: Rebranding with Tokenomics Change

- Litentry is changing its token rewards system.
- Fixed rewards for collator staking will end.
- Instead, 30% of network gas fees will be used as rewards.
- This change aims to make the network more sustainable and decentralized.
- Rewards will now depend on network activity, not fixed amounts.
- The goal is to give more control to the community over time.
- A community vote will decide on this proposal.

[Democracy] Public proposal #13: Update to the Litentry Token Economics

Treasury spend proposal for Subsquare/statescan maintenance 2024

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Litentry is making changes to its infrastructure framework by embedding the DID service they have already built into it. This is not a big shift but an extension. 
They are using a referendum to record LIT holders' opinions towards this move. 
The referendum is a strategic vote and the result will be a system remark.

Vote for Litentry's strategic move: from DID to Chain Abstraction

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- SubSquare post talks about a problem faced by a user after upgrading to Polkadot.
- The user lost his staking reserve money due to an account reap triggered after finishing his vesting schedule and staking all his money.
- The post provides a link to the user's account and an extrinsic of balance non-return when withdrawing staking.
- The proposal aims to fix this issue and prevent other users from facing similar problems.
- As a solution, the proposal suggests adding 559 free LIT to the user's account.

User Staking amount balance recover - 4

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Litentry is going to burn a lot of LIT tokens during the 7th quarter.
377,800 LIT tokens will be burned.
The tokens will be transferred from Ethereum to Litentry Parachain.
A referendum will be conducted to clear the balance of the token-holding parachain account.
This is the 7th burn event out of a total of 8 planned.

Litentry Token Burn Event #7

Litmus is going to be discontinued.
The balance of all Litmus accounts will be moved to the matching Litentry accounts.
476,293.288 LIT is the total issuance on Litmus.
The transfer will involve minting LIT tokens on a Litentry team member account and distributing the due balance of each Litmus account to its corresponding Litentry account via balance transfer.
The process is public and transparent.

Democracy Referenda