Lum Network — Official launch
We are thrilled to officially announce the launch of the Lum Network.
Earlier this year we announced that the Sandblock project, launched more than 3 years ago would get a major upgrade, it is now time to unveil it…
We are thrilled to officially announce the launch of the Lum Network, the first decentralized protocol for businesses to build authentic trust with their customers.
The Lum Network is an open source blockchain protocol (layer 1) based on the Tendermint & Cosmos SDK, the most advanced and secure Delegated Proof-Of-Stake algorithm.
It is powered by the LUM, its native crypto-asset. The LUM is the fuel of the Lum Network and is used by businesses to benefit from the trust layer while rewarding their customers, by validators and delegators to secure the network and many more.
Lum Foundation
The Lum Network is carried by the non-profit Lum Foundation. Based in Zug, Switzerland (aka the “Crypto Valley”), the Lum Foundation is dedicated to promote the Lum Network, develop and foster new use cases that will benefit its community and drive the governance of the project throughout the Lum token, native to the network.
One of the main objectives of the Lum Foundation is to foster adoption of the Lum network by onboarding new partners into the ecosystem.
Partners certainly take many forms but our main focus is to work with what we call “trusted third parties”. Businesses that in any way provide a middleman service between retailers, brands and customers.
This strategy is extremely effective as it allows thousands of brands and retailers to use the Lum Network while only working with a few companies to do the heavy lifting in terms of technological shift.
Moreover, those trusted third parties are more than likely to evolve by using this new technology rather than being disrupted by it.
Ecosystem
The Lum Network is built to enable businesses to create authentic trust with their customers and the initial partners are now ready to go in production and are only waiting the launch of the Main Net.
Meaning that at launch, the Lum Network will already be powering an incredible amount of retailers and users, and it is only the beginning!
Current partners key figures
6500 retailers will be directly or indirectly be using the Lum Network at launch.
1000the number of retailers available on Lumki that will offer Cashback rewards in LUM.
100 Millions users will be exposed to the Lum Network and especially the LUM token within the first year of activity.
Lum Network’s partners are bringing the blockchain technology and LUM tokens to the masses. Each of them are embedding decentralized technologies at the heart of their existing services that are already powering thousands businesses and millions of users worldwide.
Roadmap
The Lum Foundation is currently opening a private sale dedicated to strategic investors who can bring long term value to the Lum Network.
You are invited to register to the private sale now and get a chance to be whitelisted if you think you can bring something to the table and would like to be one of the first to join the network.
In the coming weeks we will launch a new program to incentivise and onboard validators onto the Lum Network Testnet and give everyone a chance to participate in the launch and security of the Mainnet.
We are currently targeting a launch of the Mainnet by the end of the year and therefore a public access to the LUM token and all its functionalities. The official date will be communicated and confirmed at a later date.
What it means for Sandblock
The Sandblock project will now be considered deprecated and will not longer be actively developed and maintained. Our team will keep the wallet, explorer and network up and running for a while in order to have everyone migrate to the Lum Network.
All technical resources have been ported and improved in favour of the Lum Network and the Lum Foundation. The Lum Network Github organization contains a whole set of legacy and new open source tools dedicated to the ecosystem and our community: https://github.com/lum-network.
Legacy SBC/SAT crypto-assets will also be ported to the Lum Network in the form of LUM tokens at the time of the Mainnet launch. The procedure as well as the specific details about this migration will be the topic of a dedicated communication.
Join the community
- Medium: https://medium.com/lum-network
- Telegram: https://t.me/lum_network
- Twitter: https://twitter.com/lum_network
- Newsletter: https://lum.network
