Lite USD is a project that deserves review due to the token making it to top gainers chart on coinmarketcap. Nowadays, the cryptocurrency world is being driven by memes, shitcoins and non-functional tokens, created on several different networks and blockchains, which serve no purpose at all other than tricking users into trading those assets to create market fluctuations that are backed by no specific reason at all and are all artificially made. This mess must come to an end, and cryptoandreviews.com is here to do that.
The benefits of Lite USD are closely linked to the utility of the tokens which will be reviewed on this article.
Cronos, PancakeSwap and The Sandbox all had a quick run up when they were introduced into the market. Many people invested in the initial idea while others didn’t. You know the rest of the story as of today.
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Lite USD Review
About Lite USD
A lot of investors have hurriedly delved into investing on a project they have little knowledge about Due to Fear Of Missing Out. So on this article, we will review Lite USD token by explaining what the coin is about, tokenomics, roadmap, ICO, staking insights of the project, listing the pros and cons, the supply and how legit/safe the token is for investment.
What is Lite USD?
LITE is the price counterpart of the stablecoin LUSD, and simply put, the amount of LUSD that can be minted in a single system.
It is directly determined by the Token’s price.
LITE 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 LITE, 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. LITE minted LUSD stablecoin based on its own price. LITE uses a price minting mechanism that relies on algorithms to ensure flexibility of stablecoin is backed by LITE.
Lite USD Supply
There are 3,000,000.00 LITE in supply worldwide.
Pros and Cons of Lite USD
Pros of Lite USD
- There is a surge in the market price currently
- Project whitepaper available
- There is a community
- Contract on Binance Smart Chain
- They are fully decentralized
- A lot of investors are ‘flocking’ to invest
- It is listed on coinmarketcap
- Good navigational website – Lite USD
Cons of Lite USD
- The coin is still under research and development
- Multiple issues with its synchronizations between ledgers
- Not listed on some exchanges
- No Github profile
- They have no reddit account
- No Bitcointalk thread created
- No traceable features on tradingview
Is Lite USD Legit or Scam?
A cryptocurrency project requires you to part with your hard earned cash in order for you to become successful. You expect some level of transparency and professionalism from a project or the team that is asking for your money.
According to research and reviews, Lite USD have developed a problem solver but with a weak back up for the token they produce. Going through their community and roadmap about their project, their visions and aims have so far been achieved.
Is Lite USD Safe?
Being willing to invest in any token is a question entirely up to you to answer. Lite USD token has a formidable team and vision to backup their digital assets and project. The project will succeed but depends if the team keeps the vision active and alive.
Make personal research on the coin, visit coin’s official website.
Follow our blog to learn about coin legitimacy. You can share your thoughts and experiences about Lite USD on the comment section below. Don’t forget to rate and leave Lite USD a review.