Litemint https://litemint.com

Litemint Wallet

Summary:

Litemint provides a platform for distributing and running any kind of apps and games (i.e. not just Dapps), from puzzles, to multiplayer and Cryptokitties-like games. The wallet uniquely blends the blockchain, entertainment and digital content—promoting global adoption through valuable and fun experiences for everyone.

Litemint enhances games and apps with native and unique blockchain features such as collectible markets, friction-less micro-transactions, cross-currency payments—preserving the direct link (P2P) between creators and their users.

Litemint is a far-reaching product toward global-adoption with high-value potential for benefiting the Stellar ecosystem.

Litemint is offered as a non-custodial, open source, 100% free and anonymous wallet to end-users. The apps and shopping experience, called 'Explore', leverages the Stellar DEX and path payments to provide cross-currency in-app and blockchain-based asset purchases.

Check out these blog articles for more in-depth coverage of the main concepts:

A demo video of the latest platform features can be seen here:

Description:

The Problem: Worlds Apart

The top Dapps are still only gathering a few thousands daily active users worldwide yet the mobile app market alone enjoys over a billion of daily active users. When building on new technology, bridging to the audience is always going to be the hard part—the blockchain is no exception.

On one side you have an infinite number of app users with billions of mobile gamers and opportunities for businesses of all size, and on the other you have technology that could enhance games and apps: cross-currencies, peer-to-peer payments, new and unique markets with collectibles and game asset tokenization offering endless opportunities.

Without a bridge, blockchain apps cannot reach out further from blockchain users and unlock the billions of app consumers out there. Limiting apps to the blockchain ecosystem is like if Google were to unpublish all apps that don’t use 100% of Google Play API.

The Solution: A Native Bridge

Built on the blockchain as a crypto wallet, Litemint provides full native access to the new technology but most importantly, it also provides a seamless on-boarding experience for users and content. It runs apps and games—blockchain or not. The freedom to pick up just how much of the new technology we use, creates real opportunities that matters, opens new monetization funnels for creators and encourages new experiences for users.

Non-custody along with decentralized payments and platform neutrality are also core criteria to help setting up a fairer platform for monetizing content with online micro-transactions.

Another important point of the Litemint business model is that it does not require content creators to buy any specific currency (like Enjin, Libra...). Both users and sellers can choose their listing and buying currencies.

The product

Litemint is open-source and cross-platform, available on Google Play, App Store, Linux, Windows, Mac. It can also be launched as a web app on desktop browsers (tested in Chrome, Safari, Firefox, Opera and Edge).

Strong emphasis has been put on the UX, mobile-first and ease-of-use to encourage global adoption.

Other features:

  • 24-word mnemonic (BIP39, SLIP10, SEP05).
  • Comprehensive access to the Stellar DEX and trading of any asset pairs.
  • Multi languages (English, French, German, Russian, Korean, Chinese and Greek, more to come).
  • Federated addresses to send and receive money, also used as gamer ID for universal syncs.
  • Multi account managements.
  • Upcoming Deep-Links for content sharing and indexing.

In term of integration, developers can use as little as the Gamer ID (implemented via the Stellar federation protocol) to provide universal sync of user’s data to their app or implement a full-fledge blockchain-based economy with tradable collectibles. It is their choice.

Traditional IAP.

Developers handle player’s data on their server and redeem player accounts upon payment confirmation on the blockchain. This may be favored by smaller games with lower retention, or in case games already have a set infrastructure and do not want to introduce existing players to a new process flow (trustlines). Currently used in pie.ai multiplayer game for coins.

Tradable Collectibles.

Developers issue collectibles (e.g. gold, skins) and non-fungible tokens. These items are tradable on the Stellar DEX. This may work well for bigger games which have higher retention and content.

Mixing Both.

Developers can initially handle items using traditional IAP and issue them to the players upon (optional) trustline setup for a more streamlined experience and prevent leaving players at the door.

Litemint will be monetized with ad placements on searchable content (games, apps, in-app, listings, NFT searches) and possibly pre-roll on games, scaling up with user growth and engagement.

Goals and Timeframe:

Litemint is currently running several apps and games as proof-of-concept and use-case to develop the third-party API and foster the community. Initially, the focus will stay strong on content from the gaming vertical due to existing connections to this industry. Several game studios are interested to jump in when Litemint opens to external third-parties.

The project is a one-man show, started over a year ago (almost full time) with an initial budget of $20,000.

The grant money could help the platform reach escape velocity much faster and scale up to the point where my pitch to content publishers (games initially) has more weight. Ideally by the time the platform is ready for third-party publishers, monthly active users are in the 6-digit range (hopefully during Q4).

Grant budget break-down

  • User acquisition and marketing 60%.
  • Partnership & third-party publishers on-boarding 30% (Licensing and IP).
  • Staffing 10% (mainly skill gap on iOS, social and support).

Short-term development efforts:

  • Finalizing the development of the API for onboarding third-party apps (starting Q3 2019).
  • Implementing additional channels for content and tradable collectibles (deep links, messaging...).
  • Strengthening the server infrastructure.
  • Developing original content (litemint.io...).

Links

Downloads:

Others:

    6 days later

    Litemint Great project! It can be seen that you guys have gone a long way. How will game developers make money from you? Do you plan to release your token for internal operations in the future?

      Thank you for the feedback.

      Any sales from published third-party games and apps are 100% going to the developers’ pocket, Litemint does not take a cut. Developers also remain free to adopt any revenue model they see fit (either product or blockchain asset-based).

      Litemint aims to remain currency-agnostic, so the platform itself will not issue its own token or ask developers to buy a specific one. Instead, developers can publish apps, games, services that promote their own assets.

      To illustrate quickly:

      Example 1) a game studio publishes a Collectible Cards Game on Litemint.

      • It can sell cards as blockchain assets, freely tradable on the DEX.
      • It can issue a blockchain asset as currency that players acquire to buy in-game cards.
      • It can list in-game items (not blockchain anchored) and redeem players upon payment confirmation on the blockchain.
      • Mix any of the above options.

      Example 2) A currency is running a masternode network and its devs publish a masternode management app on Litemint:

      • After anchoring their currency to Stellar, they start selling masternodes or shares directly in the shop
      • They can sell other related services that are not blockchain-based (dashboard, staking, support…)
      15 days later

      Anchor Shop

      Litemint is now running a live example of how anchor services can be added as third-party app to the platform.

      Anchors can also benefit from integrated shop features such as decentralized cross-currency purchases allowing the anchored asset to be purchased from any other stellar asset through path payments via a single BUY button in the shop listing. Shop listings can also be used to expose additional paid services from anchors (similar to selling in-app products) and more generally provide a great way to raise awareness for the anchored asset.

      The service will be available free of charge to any anchor, Litemint takes no cut and any sale through the shop is decentralized.

      Do not hesitate to drop me a line to discuss your specific use-case if interested to add your anchor to the platform when it opens up to external developers.

        8 days later

        LITEMINT.IO - The Massively Multiplayer Collectible Card Game on Stellar | Card Reveal Q4 2019

        Hi everyone,

        Glad to announce another upcoming in-house production—besides being eponymous, this one is major!

        LITEMINT.IO is a unique massively multiplayer collectible card game for distribution on the Litemint apps platform, web and mobile stores. And yes, that means tons of items, goodies and legendary artifacts to earn—all tradable on the Stellar DEX. Card reveal and release in Q4 2019.

        Read more on the blog

        4 days later
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        8 days later

        Litemint

        The Grin anchor is great! Lacks liquidity though. Would be nice to arbitrage it 😉

        Edit: What I meant is "to provide it with liquidity".

            MisterTicot Thanks, the linear emission rate of GRIN could prove useful for merchants. This raised my initial interest to provide the anchor service. It will become much more practical when support for SEP-0006 is added (sometimes next month) and we could see more volume as well.

                Litemint

                While I never ran an anchor myself, I've closely watched them evolve over months as I wrote Equilibre.io.

                My observation is that you can't expect users to bring the liquidity in. Anchors that went this way are almost all dead by now (REPO, EURT, WSD, STEEM, SBD, MintX ...).

                On the other hand, anchors that pro-actively implemented liquidity providing solutions received user attention and seems to have bootstrapped a virtuous circle.

                If you think about it, this is quite logical as most people will only take position in already liquid, low-spread pairs; And exchange also rank those pairs higher, giving them more visibility.

                    MisterTicot Good points, the usual causality dilemma, I will look into solutions and it could be an opportunity to finally play around with Kelp. I will put on my TODO with SEP 006.

                    In Litemint, merchants can also support anchors by listing their items in the anchor asset. Since all shop transactions are solved through path payments, this means that anytime an order is placed in their shop, regardless of the source currency, an order is also executed on the DEX using the destination currency (anchor asset). As the platform grows, this could really help anchors to increase daily volume.

                    shop dex interaction litemint

                        Litemint

                        Liquidity & volume are not the same thing. Liquidity refers to the order book thickness & spread. In other words, how much untaken offers are there. That's what you need liquidity providers for. (sorry, I misused the term arbitrage bellow - what I meant was liquidity provider).

                        Volume happens when offers are taken, which factually removes liquidity. For instance, pathPayment matches offers, hence removes them for the orderbook, hence removes liquidity.

                        This is an important difference, because bringing people to use pathPayment over an illiquid order book will not increase your volumes nor your liquidity: it will only piss off people because they'll pay a 10% premium or worse due to the high spread/low-volume situation.

                        So while SEP-0006 is to bring in customers, providing liquidity is a required preliminary step for them to have a nice & smooth experience.

                            MisterTicot Sure, put simply, liquidity decreases as the spread increases. However, volume does not factually remove liquidity from markets (only from a theorical standpoint). In fact, the reality is opposite and because of the virtuous circle, markets traded on very high volume maintain a tighter spread and always remain more liquid (e.g. FOREX, the world’s biggest market by volume is also the world’s most liquid).
                            I also noticed that when I initially listed items in the MAG currency (magnetwork.io). As orders got executed from path payments to fulfill shop purchases, I could spot discussions on Stellarport chat from traders who had noticed the volume increase and the order book started to fill up naturally from interest during that period, the spread got tighter at that time.
                            I do agree that Stellar anchors lack liquidity in general and that issuers need to help on this to leverage path payments—bootstrapping as you said.
                            Litemint purpose is also about drifting away from speculation to derive utility from currency (e.g. from enjoying some in-app product), hopefully increasing interest for the currencies at stake between merchants and users.

                              More Stellar path payment action with in-app purchases:

                              Scenario 1: player buys a game item with USD → merchant receives BTC.
                              Scenario 2: player buys a blockchain collectible skin, dex execution → instant fun.

                              8 days later
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                              4 days later

                              Litemint I checked your project and it looks great! Surprisingly deep thoughtfulness of the user interface. And also accessibility for all platforms is really cool. There are even no questions. Well, there may be one question - how do you plan to monetize your platform if you do not rely on grants like this SCF?

                                  Scopuly Many thanks for the feedback! Litemint will be monetized with ad placements on searchable content (games, apps, in-app, listings, NFT searches) and possibly pre-roll on games, scaling up with user growth and engagement.

                                  The grant money could help the platform reach escape velocity much faster and scale up to the point where my pitch to content publishers (games initially) has more weight. Ideally by the time the platform is ready for third-party publishers, monthly active users are in the 6-digit range (that's my first milestone, hopefully during Q4).