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What's next for Lit Protocol?

Chris Cassano

• 2 min read
What's next for Lit Protocol?

Lit Protocol has completed our staking contest, and we're hard at work getting the Naga v1 Mainnet up right now.

In the meantime, you can get started building on our Naga testnets or on our Datil Mainnet. We have a lot of exciting improvements and launches coming up, detailed below.

Naga V1 Mainnet Launch

We're working on getting the Naga v1 Mainnet up right now, and anticipate it should be up and stable before the end of the year. Naga will launch with the following features and improvements:

  • A new, much faster and more scalable threshold algorithm for ECDSA signing
  • Support for a large number of new threshold signing schemes and curves, detailed in our docs. This brings support for Lit threshold signing to every popular blockchain.
  • Many improvements in robustness, reliability, and scaling
  • A new simplified payment model
  • A new Javascript SDK (v8) that simplifies working with auth, payment, and all Lit products
  • Support for securely migrating the keys from the v0 Datil Mainnet. Naga should be fully ready for you to migrate your apps in the coming months.
  • Lit Action keys, which brings verifiable compute to every Lit Action
  • Infinite scaling via our Realms and Shadow Splicing mechanism.

Vincent 2.0

We've added a lot of improvements to the Vincent ecosystem, and are working on many more. The Vincent Yield app now has over $500k in TVL and dozens of teams are building on Vincent today.

  • Hyperliquid ability (Live today)
  • Solana support (Live soon)
  • Abilities 2.0 spec with smart account support (Demo, Live today, full spec coming soon)
  • Many new abilities, and improvement to the ability-sdk to make writing abilities easier
  • Automatic fee collection for Vincent app devs. Every time a user makes a swap, bridge, or does lending in your Vincent app, you'll make money. You keep 90% of the fees, and the remaining 10% go into the veLITKEY model as a reward for voters that vote for your app.

veLITKEY model (Proposal)

So you've staked your LITKEY tokens, now what? We're adding a innovative new voting model that combines retroactive goods funding with the ve (vote-escrow) token model. Soon, you'll be able to use your staked LITKEY tokens to vote on Lit Apps to receive LITKEY rewards. Lit Apps can also incentivize you to vote for them by putting up a voting reward. The veLITKEY model aligns long-term incentives for LITKEY holders, and creates a community-first model for new and existing projects building on Lit. The initial features are:

    • veNFT representation of your locked stake
    • Liquid staking of locked tokens
    • Ability to buy and sell locked stake
    • Monthly voting epoch and reward model w/incentives

Stay tuned for announcements of these items as they go live!