What Is Lite USD (LITE)?
Lite USD is the price counterpart of the stablecoin LUSD, and simply put, the amount of LUSD that can be minted in a single LITE is directly determined by the Token’s price. This is issued on the Binance Smart Chain, with a total of 100 million units issued. 1million LITE will be taken out after issuance and added to the initial liquidity pool, with a ratio of 1 million USDT:1million and the remaining 99 million locked into the “Treasury” contract, which will be managed by Fist community members.
LITE is used as the initial token of the LUSD protocol to mint the decentralized stablecoin – LUSD and to balance the price fluctuations of LUSD. They minted LUSD stable coin based on its own price. They uses a price minting mechanism that relies on algorithms to ensure flexibility of stable coin is backed by LITE.
Important Points Table Of Lite USD
| Basic | Points |
|---|---|
| Coin Name | Lite USD |
| Short Name |