Ecosystem
There are two main ecosystem roles in the protocol. A user can interact with the protocol through either or both roles.
Tokenomics
At the heart of the Lithium Protocol is $LITH, Lithium’s native token from which stem all interactions, rewards, and governance that are to happen within the ecosystem.
Collective Intelligence is built upon Lithium’s user interaction mechanics leveraging cryptoeconomics with $LITH & Reputation Point (RP), which helps to incentivize quality and precise pricing estimates while maintaining the protocol’s integrity.
Price Seeker (Data Consumer)
Price Seekers are anyone seeking accurate pricing information that will enable decision making, such as crypto projects, issuers, investors, lenders, and analysts.
From the protocol, Price Seekers will post questions on asset prices or access our data and analytical tools. Price Seekers pay fees and contribute to prize pools that will incentivize price providers (Price Experts) to submit accurate pricing estimates. This bounty will then be distributed to participating Price Experts through a proprietary reward mechanism.
Price Expert (Data Provider)
Price Experts are subject matter experts or market participants with insights into asset prices. Price Experts offer their knowledge by responding to pricing enquiries posted by the protocol and receive bounties and reputations incentives.
Price Experts could be brokers, traders, investors, and anyone familiar with private market activities. A broker, for instance, has knowledge and insight into the latest transaction prices and is aware of current indicative buy and sell offers for a specific asset class. Currently, these brokers have no incentives to disclose pricing information to fellow market participants, creating an opaque market for private assets. This also applies to investors who have regular touchpoints with their investment portfolios and other market participants, thereby better estimating price changes.
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