Lumerin is developing a decentralized data routing protocol which will allow for a variety of new and innovative applications. A Hashpower Marketplace enables decentralized hashpower trading – which is currently available in beta on the Ropsten testnet.
The routing information and connection proxying for the web and general communications are handled by centralized servers. Lumerin’s vision is to decentralize the global routing layer of data streams to allow new types of data to be exchanged and used on the blockchain. Lumerin Protocol is capable of delivering any asset that can be transferred through TCP/IP protocols in a decentralized, secure, and peer-to-peer manner.
Our initial goal is to optimize and decentralize the mining process, which can only be achieved if we create a sustainable tokenomics model. We will start with Bitcoin and proof-of-work hash power.
Lumerin (LMR) is the underlying utility token that will act as a transactional utility token to buy and sell hashrate contracts, as well as eventually pay gas fees for the Lumerin Protocol.
Lumerin’s tokenomics model has recently been updated. Unsold tokens were properly reallocated following the Public Sale.
Lumerin (LMR) Overview
LMR Supply Distribution
Token holders will be rewarded for their active participation in the Lumerin ecosystem with Lumerin tokens, ensuring the growth of the ecosystem and incentivizing participation in community events.
There will be new tokens entering circulation from community programs and incentives, mineable rewards, and vested tokens released across different tranches: Community, Mineable, Seed, Private, Public, and Core Team – this last tranche having the slowest unlocking schedule.
A total of 1 billion LMRs are available. Token accessibility and user experience are ensured, ensuring that LMR can endure and be widely adopted.
Token Distribution At-a-Glance
- There were several sales rounds for LMR, and 27.4% of the shares were sold, so they will be released based on the vesting periods (see “Token Lockups and Vesting Periods” below).
- The Core Team receives 25% of LMR tokens as part of strict lockup and vesting conditions.
- Over the next ten years, 25% of LMR tokens will be released for mining.
- 22.6% of LMR tokens go toward community and development incentives.
- Lumerin’s growth and adoption are motivated by these two last tranches, which represent 47.6% of its tokens.
Token Lockups and Vesting Periods
We have implemented two separate periods for token releases in order to ensure healthy and sustainable growth:
- Tokens will be locked, unavailable, and out of circulation during lock-up periods.
- Users will receive tokens over a period of time, in equal parts and at regular intervals, through vesting.
Example: Let’s look at the Core Team tranche:
- 0.35% release at launch.
- 6 month lock-up period.
- 24 month vesting period.
0.35% of the Core Team’s LMR will be available immediately. They will remain locked and unavailable for the next six months. The remaining 99.65% of Core Team tokens will start being unlocked gradually after the seventh month, becoming fully accessible after two years (24 months).
Below you can find the details of each tranche’s lock-up and vesting periods:
Lumerin tokens unsold in the Lumerin Public Sale were reallocated to the Community Tranche. Taking this step ensures that those LMR remain in the hands of the Lumerin community.
Circulating Supply Schedule
Lumerin has begun injecting circulating supply on a monthly basis to ensure a constant but controlled increase in inventory to accompany growing demand and user-base, as well as the utilization of the Lumerin Hashpower Marketplace, which will be fully functional in the coming months.
Over the next ten years, the supply will continue to increase, reaching full dilution in December 2032. As emissions slow down month after month, inflationary pressures will be mitigated.
Lumerin Protocol was created in an effort to become a fully decentralized, community-driven project. We need the community’s input as we scale Lumerin and work towards decentralization.
We believe Lumerin will succeed over the long term. Lumerin Hashpower Marketplace, and we are already working on implementing our own Lumerin blockchain network, which will allow the community to create dApps and smart contracts powered by LMR.