Litmosis
Enabling Financial Institutions to monetize their Fiat or Crypto treasury by launching their own white-labeled stablecoins, pegged to any local currencies using Proof of Reserves/Multi-sig.
Created on 3rd December 2022
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Litmosis
Enabling Financial Institutions to monetize their Fiat or Crypto treasury by launching their own white-labeled stablecoins, pegged to any local currencies using Proof of Reserves/Multi-sig.
The problem Litmosis solves
Currently, there is more than $200T locked in Traditional Finance Institutions, bringing them on-chain not only helps them grow their business but also increases the adoption of DeFi. Currently, these Financial Institutions:
- Need to figure out the Tech of launching their own stablecoins
- Launching Multi-chain and bootstrapping liquidity for each chain is difficult
- Building Proof of Reserves, Audits and Ecosystems take time, effort, and resources.
Use cases for Financial Institutions:
- Buy now pay later
- Microcredit and lending to SMEs
- Credit marketplace
- Personal retail investing
- Foreign exchange markets
Challenges we ran into
We ran challenges in:
- Figuring out the seamless minting & burning of ERC20 tokens
- Figuring out cross-chain smart contract calls
Tracks Applied (1)
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Technologies used
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