Litecoin (LTC) Partners With AntPool To Create LTC Labs

The Litecoin Foundation has announced that it has signed a joint agreement with AntPool to establish LTC Labs, a digital currency research laboratory. The purpose of the organization is to research and collect information about anonymous transactions. In addition, the focus will be on the development of dApps, digital currency, wallets and projects based on Litecoin (LTC).

AntPool has expressed interest in donating half of its Litecoin Pool mining earnings to fund LTC Labs and support Litecoin (LTC) on a monthly basis. The teams are currently working on building a DAO with 10 founding members. In addition, AntPool will have a controlling stake in the DAO with 6 members from AntPool and 4 members from the Litecoin Foundation.

To control the allocation of funds to the right projects, the DAO will use the decentralized finance platforms Gnosis and Snapshot. For autonomous funding of projects, each participant can create a proposal and vote for it. A minimum of 5 votes is required to accept a proposal. The DAO team plans to use reality.eth's crowdsourced control oracle to ensure funds are transferred to the right project.

Image: Zipmex