Runtime upgrade to 9191 for token decimal change

Litentry is making changes to its parachain staking rewards system. They will reduce the annual inflation rate for parachain staking from 1.5% to 1.0%. This change will take effect after the proposal is passed. The total estimated reduction will be approximately 500,000 LIT tokens annually. The reduction in the annual inflation rate will be reallocated as an extra staking reward for users possessing an IdentityHub score. This initiative is designed to reward and incentivize dedicated community members who actively participate and contribute to the ecosystem.

Litentry Announcement: Upcoming Changes for Parachain Staking Rewards partly-shifted to Identity hub staking

Litentry parachain has a new update with a target runtime version of 9182. 

The update can be found on Github. 

The runtime hash and preimage hash are important to ensure the update is correct. 

The screenshot shows the encoded call hash. 

The update is authorized through the `parachainSystem.authorizeUpgrade` call.

Runtime upgrade to add pallet-teebag and pallet-bitacross

Litentry, a blockchain-based identity verification platform, has announced its 6th quarter burn event from the inflation model. They will burn 377,800 LIT tokens. 
The tokens will be transferred from the Ethereum account controlled by the Litentry Foundation to the Litentry Parachain. 
A referendum will be conducted to clear the balance of the token-holding parachain account. 
This is the 6th burn event out of a total of 8 planned. 
Litentry team appreciates the community's continued support.

Litentry Token Burn Event #6

User Staking amount balance recover - 3

User Staking amount balance recover - 2

User Staking amount balance recover - 1

Litentry is a platform that is making an upgrade to its system to remove sudo. This is being done in a democratic way to make sure everyone knows about it. The new version is called 9175. The code change and release can be found on Github. The runtime hash and preimage hash match what is being proposed. There is a screenshot that shows the encoded call hash.

Runtime upgrade of litentry-parachain to remove sudo

Litentry, a blockchain-based platform, is going to burn 377,800 LIT tokens during the 5th quarter. The tokens will be transferred from Ethereum to the Litentry Parachain. A referendum will be conducted to clear the balance of the token-holding parachain account. This is the 5th burn event out of a total of 8 planned. A balance wallet proof is available for visual confirmation.

Litentry Token Burn Event #5

Support for withdrawing bounty of Proposal #12

Litentry is a company that is committed to burning a large amount of 377,800 LIT during the 4th quarter. The company will transfer this amount from the Ethereum account to the Litentry Parachain. A referendum will soon be conducted to zero out the balance of the token-holding parachain account. This is the 4th burn event out of a total of 8 planned. You can verify the transaction on the Litentry Parachain side. The company appreciates your continued support.

Litentry Token Burn Event #4

1. Someone tried to transfer their funds from ETH to Litentry (DOT) to stake their LIT coins.
2. They used an address with a Ledger hardware wallet attached for security reasons, but their funds got stuck in the account for three months.
3. They are proposing a motion to the council and the wider Litentry community to support the asset rescue effort to retrieve their LIT.
4. They provided proof of ownership of the Ethereum wallet and linked their wallets in the Identity Hub for transparency.
5. They are urging the community to support this motion to help retrieve their funds and make a positive impact together.

Support Token Rescue due to Ledger Incompatibility

- A person tried to transfer their funds from ETH to Litentry (DOT) using a portal but the funds got stuck in an account with a Ledger attached.
- The person is proposing a motion to the council and the Litentry community to support the asset rescue effort.
- The person has shared proof of ownership of the Ethereum wallet and linked their wallets in the Identity Hub.
- The locked LIT address and the address where the rescued assets will be sent have been provided.
- The community is urged to support this motion to help the user retrieve their LIT.

Recreated - Support Token Rescue due to Ledger Incompatibility

Litentry, a blockchain-based identity verification platform, has announced that they will be burning 377,800 LIT tokens during the third quarter of the year. This is in line with their Identity Staking Inflation Model.

The tokens will be transferred from the Ethereum account controlled by the Litentry Foundation to the Litentry Parachain.

A referendum will soon be conducted to zero out the balance of the token-holding parachain account.

This is the third burn event out of a total of 8 planned.

Litentry appreciates the continued support of its community.

Litentry Token Burn Event #3

- Someone tried to transfer their funds from ETH to Litentry (DOT) using a Ledger hardware wallet for security reasons.
- However, their funds got stuck in the account with the Ledger attached for over two months.
- They are proposing a motion to the council and the Litentry community to support the asset rescue effort.
- They have provided proof of ownership of the Ethereum wallet and linked their wallets in the Identity Hub.
- They are urging the community to come together and support this motion to help retrieve their LIT.

Litentry and Litmus networks need money to maintain their governance platforms, Subsquare and Statescan, during Q3-Q4 2023. Subsquare is a governance platform, while Statescan is a dedicated blockchain explorer for substrate-based blockchains. They need $7,400 to ensure smooth operations and sustained functionality of their governance services in these essential platforms during the specified period.

The work scope includes daily maintenance and DevOps work to make sure the Litentry and litmus subsquare/statescan deployment well running. They also plan to develop and deploy subsquare common features such as governance data statistics, calendar feature, address vote history, subsquare new design, and preimages page.

The requested allocation is $7,400 equivalent LIT token (11,029 LIT by the EMA7 price on 2023-08-7).

Litentry subsquare maintenance costs $4,200, Litmus subsquare maintenance costs $3,000, Litentry statescan maintenance costs $200, and Litmus statescan maintenance costs $0.

This proposal aims to secure the necessary funds to ensure the smooth functioning of Litentry and Litmus networks' governance platforms, Subsquare and Statescan, during Q3-Q4 2023.

Maintenance Cost for Subsquare/Statescan in Q3-Q4, 2023 - Motion #4

Litentry Community Asset Rescue Effort:

- Litentry Community is trying to help a user retrieve their LIT assets.
- They have verified the ownership of the Ethereum and Substrate accounts involved.
- They are proposing a motion to the council and the wider Litentry community to support the asset rescue effort.
- They have provided proof of ownership of the Ethereum and LIT wallets.
- The community's support and participation are crucial to the success of this endeavor.

Support Token Rescue for Raenius#7875 due to Ledger Incompatibility

Litentry is a blockchain project that has come up with a new plan to burn 377,800 LIT tokens every quarter for the next two years. This is instead of the previous plan to burn 568,750 LIT tokens. The burning process involves transferring the tokens from the Ethereum account to the Litentry Parachain via the token bridge.

Identity staking is a new feature that Litentry is introducing to its ecosystem. It is a powerful tool that motivates users to become more actively involved in managing and leveraging their digital identity. It increases credibility, serves as proof of humanity, and fosters an inclusive ecosystem with diverse contributions.

Identity staking encourages users to take an active role in managing, aggregating, and leveraging their identity data. Novice users can earn a higher return on their staked assets for any actions that increase the richness or complexity of their digital identity.

Digital identity, Sybil resistance, and proof of humanity are critical to the future of the internet. Identity staking helps to differentiate real humans from bots and combats the issue of Sybil attacks by requiring users to stake their tokens.

Identity staking creates a more inclusive ecosystem by incentivizing users to become more active in managing their identities and encouraging a wider range of people to participate in the network. It can increase the overall utility of the Litentry token by providing users with additional incentives to hold and stake their tokens.

In conclusion, Litentry's new plan to burn tokens and introduce identity staking is a positive step towards creating a more secure, trustworthy, and transparent internet.

Litentry Token Burning Event #2

Untitled - public proposal #1

Test Proposal

Litentry team will burn a certain amount of LIT tokens every quarter for the next two years after collator staking is deployed. The amount of LIT that will be burnt each quarter is 568,750 LIT. The burning procedure involves transferring the LIT tokens from the Ethereum account to the Litentry parachain via the token bridge. A referendum will be voted on to forcibly set the balance of token holding parachain account to 0. This is the first of 8 burning events in total.

Democracy Referenda