LUM Token Distribution & Launch schedule
Genesis supply, main-net launch date, vesting schedules, stakedrop…
The Lum Network is getting ready for a main-net launch by the end of year and if planification is king, timing is queen!
We have been working with our launch partner Skeepers to synchronise the launch of the Network with the production release of their application. The goal being to launch the Lum Network main-net and within a month to gradually enable Skeepers (massive) clients and users base to access the Lum Network seamlessly.
How to Join & Participate
Because it is always handy to know what you can do right now before digging into the numbers…
1/ I want to stay up to date
- Telegram: https://t.me/lum_network
- Discord: https://discord.gg/KwyVvnBcXF
- Twitter: https://twitter.com/lum_network
- Newsletter: https://lum.network
2/ I want some LUM
- Request to be whitelisted for the Foundation private sale
- Read the details below to see if you are eligible for genesis LUM tokens
- Either-way, stay up to date for the main-net launch
3/ I want to become a validator
- Join the Telegram / Discord
- We are launching a private test-net dedicated to experienced validators next week. The final genesis validator set will be selected among those validators.
- Everyone will be able to launch its own validation service upon main-net launch, stay tuned.
Genesis supply
Lum Network will start with an initial supply of 5,000,000,000 LUM tokens. Additional LUM will be minted based on the on-chain inflation which will start at 20% per year and shall fluctuate over time depending on the bonded token ratio.
Price discovery will start on Osmosis at ~$0.01 per LUM unit upon the successful launch of the network.
Almost all genesis LUM tokens are subject to on-chain vesting schedules:
- To ensure a clean, safe and logical ramp up for the Lum Network
- To align everyone’s incentives with long-term value creation
The following log scale chart represents this ramp-up the best. The initial 6 months giving us the time to slowly but surely go into full production while creating new strategic partnerships.
1/ 6 months cliff + 24 months continuous linear vesting
- Lum Foundation reserve
- Lum Foundation sale
- Team & Contributors
- Marketing & Partnerships (1/2)
- Community (1/10 available at launch — liquidity providers)
2/ 24 months continuous linear vesting
- Marketing & Partnerships (1/2)
- Ecosystem (1/3 available at launch — liquidity & delegations)
N.B: We are still receiving tons of requests and feedbacks from the community, therefore some allocations and their related vesting might slightly change before the launch of the main-net.
Airdrop for ATOM & OSMO
The goal of the Cosmos community Airdrop is to onboard the most active participants of the ecosystem. We are strong believers in the long term value created throughout the interchain and aim to reflect that with this airdrop.
OSMO liquidity providers will have 30% of their LUM tokens available without vesting schedule (upon claim) in order to enable them to participate in the upcoming liquidity pool and price discovery on Osmosis.
Airdrop eligible participants:
- ATOM Stakers
- OSMO Liquidity Providers
Airdrop rules:
- Both Airdrops can be cumulated
- Airdrop will be based on a Snapshot taken on Sept. 29th, 2021 for both networks
- Actions (on-chain) will be requested to claim the full amount of the Airdrop (staking and governance vote)
Safety measures
- Exchanges and centralised validators as well as their delegators will be excluded from the Airdrop
- Unclaimed tokens will be sent to the community pool after 6 months
- Min and max caps will be set per address
N.B: More details as well as a tool to check you eligibility will be published next week, stay tuned!
Migration for SBC Holders
As mentioned in this previous article, the Sandblock project will be considered deprecated in favour of the Lum Network.
In order to value the contribution of the Sandblock community, SBC holders and contributors will therefore be able to make a request for LUM tokens before the Main-net launch. LUM tokens will be granted based on the legacy holdings (SAT/SBC) of the contributors as well as their contribution to the project.
The tool to make such request will be available next week.
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
