Decentralized PoW Mining Protocol with built-in DeFi 🔥 Open-source forever and built on #Ergo
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Today we're releasing the tokenomics info for Lithos Protocol and the $LIT token.
The goal of the $LIT token is to place the power of liquidity creation into the hands of miners. At the same time, lenders will be able to use the token to gain $ERG rewards via collateralization.
ALT Lithos Tokenomics Information
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LITHOS Protocol retweeted
Lithos, é realmente incrível, eu espero muito que os mineradores adotem, isso é poderoso!
Você tem o poder em sua máquina, ergo:native é realmente incrível.
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Lithos is working to deliver miner sovereignty over execution.
You could have a blockchain with permissionless consensus but build an ecosystem around it where most meaningful economic activity passes through specialized gateways.
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Hey guys if you are mining on testnet, check out the new release. It adds new statistics to the API which are stored by the client, and used to show information about the dex, mining, payments, and more.
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Additionally, we added support for collateral priority fees, and fixed the batching algo to maximize batching revenue.
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New Testnet Version
Added new optional statistics feature which persists data about the chain, and exposes it via the API for the webpanel to use.
github.com/Lithos-Protocol/L…
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New statistics involve mining, collateral, hashrate, dex stats, and more. Additionally, we added support for priority fee choice and clearance age for collateral boxes.
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For mainnet users this release adds multi-pool batching (so another revenue source) for LithosDex.
Additionally it should fix the routing issues when using the web panel.
github.com/Lithos-Protocol/L…
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Working on some displays in the client so miners can see how they're using blockspace visually.
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Lithos is an attempt to compress everything to the peer to remove the need for specialist layers.
Why? Because as a broad pattern P2P systems fail in steps.
By fail here maybe better to say they change shape. That is the what people are blind to.
This is already happening in crypto as a lot are not peer to peer networks.
What is sold as the usual it’s the next Bitcoin can’t even satisfy the title of the Bitcoin Whitepaper.
It’s the same pattern.
Construction of what is p2p becomes valuable.
Specialists take it.
Peers first just take a cut.
Then peers become optional.
Then they largely disappear.
The system still runs. Just give services under a different shape. Most people don’t see that or even care.
With the web you used to publish a site. Platforms now decide what people see. You can still post. You do not build the feed. With mail you used to run a server. A few inboxes now decide what arrives. You still have an address. You do not control delivery. Both are at the mercy of blacklists.
With media a press used to make the record. Platforms now choose what is shown. Writers still work. They do not build the feed. So left to play algorithm games for visibility.
With software anyone could ship a program. Stores now decide what can run. Developers still code. They do not own the store. Soon even side loading on your own device may be fucked.
You get distribution and adoption benefits but much less actual power as a peer. Capture is cheered for these reasons.
This pattern is just functional capture and can kill everything special about p2p cryptocurrencies.
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Most decentralization L1 metrics cover consensus.
For just a payment chain this is valid.
But it ignores that most validators in market chains don't build or understand what they make consensus about.
Sequencing is where the power of market control lives, not consensus.
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It is stupid to have real energy expended to win these rights, only to have them stripped from the miner.
Will be fixing that.
Once state became programmable, construction in proof of work stopped meaning pick some transfers to include.
It meant liquidations, arbitrage, oracle updates, keeper jobs, bundle ordering, MEV.
That work could have stayed with the block producer, but it did not.
With smart contracts economic machinery started leaving the base and created specialty layers, discovery, inclusion, ordering, extraction, submission.
Hashing stayed, but choice for ordering economic state left the base.
Our goal is to compress everything back to the peer.
Local economic machinery for miners.
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Many chains like Ethereum and Solana separate validation from economic ordering.
This has speed benefits, but the concentration of market power is undeniable.
Often these designs across sytems have no sybil resistance in place so is hard to quantify how concentrated it is.
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With having sequencing directly tied to proof of work every participating peer can have meaningful influence over the candidate state it proposes, rather than just validating an economic state constructed elsewhere.
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