Litentry Coin (LIT to IDR) is the native token of Litentry, a decentralized identity protocol that aims to federate and verify digital identities cross-chain. LIT is used in the Litentry ecosystem for staking, governance, and incentivizing validators who help manage identity data. Litentry is built using the Substrate framework and operates on the Polkadot network. This protocol allows users to manage their various digital identities in one secure platform.

By combining identity data from multiple blockchains, Litentry seeks to create comprehensive identity profiles that can be used in various Web3 applications, such as DeFi, Web3 communities, and online reputation systems. Identity security is maintained by using Trusted Execution Environments (TEE) and verifiable credentials. These technologies comply with the Decentralized Identity (DID) standard of the W3C, ensuring that users can securely control and share their personal information. Litentry also enables decentralized applications to verify user identity without having to rely on conventional account registration methods. The LIT token has several key functions on the network, such as being used to participate in governance through voting, as well as to incentivize users who provide verified identity data.