What Is Lit Social Mining?
Lit is a social medial platform that seeks to integrate social media usage and cryptocurrencies. Lit boasts of being the first social media application, which is compatible with social mining in the Mithril ecosystem. The platform also seeks to help content creators increase the monetization levels of the content they produce through efficient integration to major social networks that will help creators monetize more.
Lit Social Mining Crypto Network For Earning Rewards Features
This feature enables users to share their stories with friends, relatives, or the public. The stories include photos, videos and slideshows, which disappear after the elapse of 24 hours. The user determines the security of their stories in that they can choose to share the stories publicly or privately.
With the platform, users could access the advanced looking pictures, as the platform will integrate algorithms that will offer users the best tools and features for taking advanced pictures. The platform will also enable users to record high quality 10 second videos.
Similar to most social networks today, Lit will offer users with the ability to improve their pictures via filters, effects, or retouching options.
Lit Story Feed:
This is the core of the platform as it enables users to easily access all the stories across the network either from the stories of the user’s friends or from the feeds, they follow. The main objective of the story feed is improving community interactions by enabling users to communicate with their friends, families, communities, or even fan base.
Lit Chat Room:
Users can have private conversations with their friends through the chat room. They can also host groups and community chat rooms. Furthermore, the chat room enables users to share stories between their communities, groups and communities.
Through the data collection algorithm and the user’s selection, this feature will calculate the user’s current interests and provide them with news, business, story feeds and media based on the calculated interests.
The profile contains all information about a user and manages or stores their stories and saved user content.
Lit Social Mining Benefits
Through the intuitive gestures within the application, users will have a very comprehensive and efficient user experience on the platform. Additionally, the gestures enable users to share access and receive feedback from their stories feed.
Users can earn revenue in form of MITH tokens by actively participating on the platform sharing pictures, stories, or videos to their followers or friends.
Lit Social Mining MITH Token & ICO Details
The platform’s utility token is the MITH. Users can earn MITH through Lit’s social mining whereby they receive rewards for sharing content on the platform and sharing their stories on the network. The level of rewards depends on the user’s social content and influence on the platform. The network avails a Mithril Vault, which is a secure platform where users could easily store and exchange their cryptocurrencies conveniently.
The platform is in collaboration with Mithril Merchant Network in order to improve the usability of the tokens by encouraging merchants to accept MITH as a means of payment.
- Token: MITH
- Token standard: ERC20
Distribution: 35% of the MITH pool – Social mining, Token Exchange — 30%, Community Development — 20%, Development Team — 5%, Early Backers and Advisors — 5%, Future Reserves — 5%