Lit and Mithril Vault Coming Are you On it?

Lit the Instagram of crypto. I am Crypto_Stephen Join Us

Lit is a app that is brought to us by Mithril team that is meant to be a social platform that lets users earn crypto tokens. I have been on Lit for a few weeks now and have been able to earn 96 tokens build up 600 followers and have a lot of fun. The app is in beta and sad to say rewards just went down a lot. I believe this is due to the vault that is coming out on the 30th but I will get into that a bit more later. The way Lit works is simple you set up an account and are able to share live videos, photos, and or upload them. Videos are capped at 10 seconds. The idea is very much like Instagram but you get paid for each view and like a post gets along with comments. The team is based in Taiwan so a lot of the early adopters are in that area. This has made that app pretty fun for me getting to see how some people on the other side of the world live. It is also the first crypto app I have used that really made me feel like I was connecting with people all over the world. I know steemit does that also but you only see a post here and there. With lit I get to see a piece of each day of a user. There are a lot of accounts now that also just post pictures of hot girls or random objects or pro photos trying to get likes. I don't feel those will stick around. You are allowed 24 post at time max and they are up for 24 hours. I get 80 to 100 likes right now and views and I get around .5 to .1 for a post. I use to get .15 to .25 but as I said payouts have gone down. I will get to why now.

So right now user can't do anything with the tokens we earn this all changes in a few days. The vault is coming and will be a nice add on to the system. This will add more than just being able to withdraw coins to ERC 20 wallets. It is going to give you some built in tools that are nice.

First is shift.

The idea here is simple shift the MITH you earn into another crypto without having to send it to an exchange. Right away they are going to support ETH and BTC and are talking to the users to see what other coins they want to be able to do this. I think more will be added soon. This is nice as you will not have to worry about waiting to convert if you want to.

The next is staking but a new way.

So the idea here is that you will be able to stake your coins. They will be locked up for 3 days and during that time your level goes up. As I said earning have gone down. I feel that it is to get ready for this. Cause as you level up you earn more for each like and view. They will have levels and a better guide to this soon. I feel that we all got shot down to level 0 or 1 and current earnings are what new users would get or users that don't stake it still isn't bad if your active now you would be earning 1 to 2 coins a day. My guess is at the higher levels you will get back to where I was earning 5 to 8 coins a day. That is with 600 followers users that got on before me or have some fame are much higher with thousand of follower so you can earn more.

Now that I broke down a bit of what LIT is let me point out some things. Lit might seem like it is a competitor to Steemit but that isn't close. Mithril might try there hate at a site like steemit but that hasn't come out yet. Right now I feel it works really well with Steemit as a way to promote your post to a lot of followers. I have met at least 50 people that I now talk to that are on Steemit or will now be coming to steemit cause of my post talking about it. So if you want to join give it a shot and look me up Crypto_Stephen.

Also for anyone wanting to try and Trade on MITH on the 30th people that couldn't sell it will be able to for the first time. I see a drop in the price coming on or around that date. But with staking it might not be that big. I have a buy order in at 3200 Sat it is at 6200 now so I am going to try to get some to stake on my account at the 50% sale but not sure that will happen. Just filling you in on a chance to maybe get some cheap that is coming. As a update this shot up to 8000 sats So might not go as low as I thought.