A decentralized key-management network powering autonomy and privacy across the web
What’s the pitch?
Lit's Story
Lit is a decentralized key management and compute network that leverages cutting-edge cryptography, sealed confidential hardware, and peer-to-peer networking to securely generate and manage keys and execute private and immutable programs.
Lit has raised $17M from names like Balaji Srinivasan and 1kx to build out infrastructure for the future of AI onchain. The network already secures over $300M in assets, allowing AI agents to manage user wallets without requiring the user to give up full control.
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Key features
Lit is a decentralized key management and compute network that leverages cutting-edge cryptography, sealed confidential hardware, and peer-to-peer networking to securely generate and manage keys and execute private and immutable programs.
Distributed Trust
Harnessing multi-party computation (MPC) and threshold signature schemes (TSS), Lit distributes encrypted key shares across the Lit network. Neither you nor your users need to store any private key material. Keys never exist in their entirety.
Embedded Security
Lit leverages sealed trusted execution environments (TEEs) to ensure that node operators never have access to key shares or data processed within each node. Your keys and data remain private and untouched.
Native Interoperability
The keys managed on Lit can read and write data across blockchains, storage networks, and state machines—bridging previously disconnected ecosystems. Build experiences that span the entire internet.
Vincent is a framework designed by Lit Protocol for AI agents that work autonomously on your behalf, operating within the guidelines you set. Vincent gives users the ability to trust agents to handle real funds safely, performing pre-approved actions like swapping tokens, generating optimal yield, and much more.
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Beluga’s Take
AI is the biggest talking point of financial markets over the last year, and while the AI sector within crypto is still a fraction of the size of companies like OpenAI it remains a major narrative for traders and investors. Lit Protocol's infrastructure is designed to enable AI agents to manage wallets on behalf of users, allowing the user to set precise boundaries and parameters for the agent to operate within. If we're building towards an agent-driven economy in the future, guardrails like what Lit Protocol offers are important and even necessary.
Many tokens launch without any business traction, however as it stands Lit already secures over $300M in assets according to data from their Dune dashboard. A significant chunk of this comes from their long-term partnership with Emblem Vault, a crosschain NFT protocol that has done about $150M in cumulative sales volume.
A lot of the LITKEY token success will stem from how well they're able to market their product and onboard developers to user their infrastructure. With so many altcoins trading already projects need to make a real splash on launch to garner attention, and so far despite their business traction the engagement on socials is relatively low. Regardless, this is definitely one to keep an eye on given how major the AI narrative still is and the PMF Lit Protocol has already started to find.
Funding
Lit Protocol has raised $17.7M led by top Web3 fund 1kx. Other notable backers include: 6th Man Ventures, OpenSea Ventures, Slow Ventures, The LAO, Valhalla Ventures, Figment, and Filecoin.
Disclaimer: Beluga has a marketing partnership with Lit Protocol