[Quick News] The news in the blockchain world is always dazzling. Today we are going to talk about the leverage strategy protocol Stella. On June 22, Stella released a heavy proposal to expand the scope of dApp to leverage infrastructure protocols and change its name to LitLayer. This proposal not only involves rebranding, but also includes new product directions and token economics changes.

It is reported that LitLayer is a full-chain leverage infrastructure protocol with an intent-based architecture. It will become a full-chain infrastructure that can quickly and seamlessly create leveraged trading applications on any chain. For on-chain traders, the LitLayer infrastructure will enable them to take advantage of the massive liquidity of centralized exchanges while maintaining self-custody.

Although LitLayer is still under development, it has received integration requests from more than 10 protocols on more than 6 public chains, including some mainstream spot DEX (TVL exceeds 100 million US dollars) and perp DEX. If the community approves the transition, LitLayer is expected to be launched in September 2024.

As part of the rebranding, there will be a 1:1 migration from the current ALPHA token to the LTLY token. LTLY holders can earn infrastructure fees and participate in governance through the staking model, and the maximum supply of LTLY tokens is 3 billion.

What do you think of this rebranding and new product direction? Feel free to share your views in the comments section, let's discuss the future direction of the blockchain industry together! 😊