PANews reported on January 20 that according to official news, Litentry announced that it is undergoing a rebranding, transitioning from its current token name LIT to a new name Heima, and the token name is HEI. This rebranding reflects the project's evolution from decentralized identity to chain abstraction. With the rebranding, the project's underlying token economics and infrastructure will be fully upgraded. Changes in token economics will apply to the new HEI token. Overall, the HEI token will be fully unlocked after 20 months.

Specifically, HEI's circulating supply will increase from 66.45 million to 100 million in 20 months. The updated issuance plan accelerates the distribution of 29.3 million locked HEI tokens. Here is the breakdown: ① Ecosystem wallet: 22.1 million, unlocked in 20 months; ② Foundation: 2.2 million, unlocked in 20 months; ③ Liquidity: 5 million, unlocked at the token swap. The remaining 4.25 million team tokens will be released according to the original plan.

The current ERC-20 and BEP-20 smart contracts associated with the $LIT token will be replaced by an updated contract for HEI. The new token contract does not specify a total supply and follows a burn/mint model. All HEI tokens will be redeemable from LIT at a 1:1 ratio. The maximum supply of HEI will remain the same as LIT.