LUM — Osmosis LBP
Trading will begin soon… Get your OSMO ready to join the LUM Liquidity Bootstrapping Pool on Osmosis !
UPDATE (Dec. 17th)
The LBP launch has been postponed and will likely begin on Dec. 21 instead, the exact date and time will be announced on Dec. 20.
This delay is due to an upgrade of the Osmosis network that happened the same day the Lum Network main-net launched. This event currently prevent us to connect both networks and thus create Liquidity Pools on the Osmosis platform.
For more technical details you can check the Lum Network v1.0.5 upgrade details and the Osmosis v6 upgrade details.
Follow us on Twitter for day to day updates!
Save the date, on Dec. 17th, the LUM will be available for trading on Osmosis!
The Lum Network main-net is now up and running! The time of liquidity shall therefore begin shortly 🥳
Asset liquidity is key to any cryptocurrency network. To provide such liquidity early on and to begin the price discovery of the LUM token we will launch a Liquidity Bootstrapping Pool on the Osmosis AMM platform.
The OSMO-LUM Liquidity Bootstrapping Pool will being on December 17th and last for 3 days before becoming a regular liquidity pool. Follow-us on Twitter to get updated by the minute 😎.
For those not already familiar with Osmosis, we invite you to read this article and to visit the Osmosis App to familiarise yourself with its fairly intuitive interface 🤖
How it works
A Liquidity Bootstrapping Pool (LBP) differs from other liquidity pools in terms of the ratio of assets within the pool. LBP’s ratio adjusts over time. The ratio of the pool gradually adjusts until the weights are equal within the pool.
Like traditional Liquidity Pools, the prices of assets within the pool is based on the ratio at the time of trade. After the LBP period ends or the final ratio is reached, the pool converts into a traditional Liquidity Pool.
The LBP facilitate price discovery by demonstrating the acceptable market price of an asset, in our case the LUM token. To learn more about LBPs you can check this article and visit the Osmosis documentation.
Thousands of people could not join the private sale orchestrated by the Lum Foundation due to a lack of room for everyone. This initial Liquidity Bootstrapping Pool is therefore a good way to let everyone jump aboard at the very genesis of the Lum Network 🚀
How to participate
In order to participate to the LUM Liquidity Bootstrapping Pool on Osmosis you just need two things: a Keplr wallet and some OSMO tokens.
1/ Get your wallet ready
In order to be ready as soon as the LBP begins you can already prepare your wallet by having some OSMO available and free to use (e.g: not staked or in a pool). If you can see OSMO tokens in your assets list on Osmosis then your are definitely ready!
2/ Wait for the LBP to begin
Follow-us on Twitter to get the latest news!
3/ Buy LUM from the LBP
Once launched, the LBP will appear on the Osmosis Bootstrap page and you’ll be able to buy LUM from the pool.
4/ Provide Liquidity
Upon completion, the LBP will turn into a regular Liquidity Pool and it will be time to make the most out of the LUM you freshly acquired or got from the Osmosis LP Airdrop.
The best way to do it is by providing liquidity to the OSMO-LUM Pool and get rewarded for that. Cherry on the cake, this pool will get incentivised shortly too 🤫
Pool details
All pool details will be communicated on the Lum Network Twitter account on December 15th around 3pm UTC.
Join the community
- Medium: https://medium.com/lum-network
- Telegram: https://t.me/lum_network
- Twitter: https://twitter.com/lum_network
- Discord: https://discord.gg/KwyVvnBcXF
- Newsletter: https://lum.network
