Lunar Digital Assets announced that LiteForge, the testnet of LitVM, an EVM-compatible layer 2 solution built on the Litecoin network, is now live. The project has been developed with guidance from Charlie Lee, creator of Litecoin, and with the backing of the Litecoin Foundation.
The goal of this testnet is to allow development teams to deploy initial applications, evaluate system performance and gather data to help prepare for the future mainnet launch.
Strategic Partners
The planned strategic partners include:
- Litecoin Foundation
- BitcoinOS
- Arbitrum
- QuickSwap
- Lunar Digital Assets
- Espresso
- Caldera
Architecture and Vision
LitVM’s architecture adapts proven Bitcoin technologies for use on Litecoin, with the aim of bringing smart contract functionality and programmable tools to the network.
According to Aztec Amaya, CSO of Lunar Digital Assets and co-founder of LitVM, this initiative comes at a time when the industry is recalibrating toward fundamentals:
“The industry has gone through many sharp corrections and is now recalibrating, with a renewed focus on fundamentals. Even in one of the sector’s toughest cycles, teams keep building. Litecoin is one of the most established assets in the crypto ecosystem, with a focus on security and decentralization. In fact, bringing LTC together with scalable programmability makes it possible to return to first principles while continuing to innovate. This testnet marks the start of a new stage in the project.”
For his part, Charlie Lee also welcomed the progress:
“This is an important step in the maturation of the Litecoin ecosystem. Since I created Litecoin in 2011, its development has focused on security, reliability and accessibility for everyday transactions. LitVM extends these values into the era of programmable blockchain, and the Litecoin Foundation supports this initiative. We hope developers will build DeFi applications, tokenize real-world assets and create new experiences directly on Litecoin without compromising its security principles. We are eager to see the innovation that may emerge in the ecosystem.”
Testnet Details
The testnet will run for two months, during which teams will be able to contribute impact reports to measure progress transparently. Although incentives will be included, the main focus is on technical maturity and improving the ecosystem.
Participants will have access to:
- Technical support.
- Business development introductions.
- Potential credits for audits and legal matters.
- Consideration for LitVM support funds.
- The option to join the first cohort of the LitVM Tesseract accelerator once the mainnet launches.
- Recognition of the most active contributors in the project’s progress reports.
Leadership and Participation
So far, more than 50 teams have expressed their intention to build decentralized applications (dApps) on LitVM. The project team is led by Aztec Amaya, Roc Zacharias and Edan Yago, and has a group of advisors specializing in cryptography and strategic partnerships.
Finally, LitVM invites development teams, auditors, researchers and members of the Litecoin, Bitcoin, Ethereum and Arbitrum communities to take part in the testnet.
More information is available at: https://litvm.com/.
