The Lusi collection is now published

We’re proud to announce that the Lusi collection is now live. Each of these 108 Lusis has a unique design, and they’re all minted on Stellar.

Design

To design the Lusi variations, we drew inspiration from a variety of sources including different celebrities, nationalities, and major events. We also added colors and accessories to the mix to spice things up.

Please note that we’ve tried very hard to avoid stereotypes and biases and be as inclusive as possible given the limited number of designs. However, with only 108 variations, we had to make a few compromises.

Distribution

To ensure fair distribution among community members, we’ve devised two mechanisms.

1. For LSP holders

We’ve recently seen the rise of the 10K club in the Lumenswap community. We’re excited about and humbled by this entirely community-driven effort. To honor our members, who are the true owners of Lumenswap, we decided to distribute the first 80 NFTs to 80 lucky holders with more than 10,000 LSP in the wallet.

Now that you’re reading this article, 80 members of the 10K club have one Lusi in their possession. The snapshot was taken on December 13 /2021, and the winners were selected at random.

2. Foundation and Incentives

Lusi 81 to 108 are allocated to the Lumenswap foundation to be used as participation incentives and rewards for the prominent community members or to be auctioned among the community members.

Claim Your Lusi

If you’re among the lucky winners of the 10k Club, when you connect your account to the NFT app, you’ll see a “Claim my Lusi” button on the menu. Clicking on that button opens up a modal where you can see your Lusi’s details and claim it.

Note: You only have 7 days to claim your Lusi, otherwise, Lucy’s ownership goes back to the Lumenswap foundation.

$NLSP

$NLSP is an LSP-backed asset minted on Stellar, and it’s used for buying and selling Lusis on Lumenswap’s NFT marketplace. 1 NLSP = 10,000,000 LSP.

Asset info

Asset issuer: GDZFBTRT…N4SP4MNM

Asset code: NLSP

Asset type: credit_alphanum4

Decimal: 7

Lumenswap guarantees the relationship between the two assets will stay the same. But how?

We’ll use Stellar’s DEX order book to create a high volume of buy and sell orders, meaning that users will be able to trade any number of LSP for NLSP and vice versa. To keep the buy and sell orders open, we use a small spread between the buy and sell orders. What this means is that if you go through the LSP-> NLSP -> LSP cycle once, you’ll lose a small amount of LSP.

When using Lumenswap to convert LSP and NLSP, first enter the amount of NLSP. This way, the network will set the lowest amount for the spread.

Why NLSP?

To prevent asset fractions, the total supply for each Lusi is set to the minimum possible value, i.e., 0.0000001.

To sell 1 Lusi at the price of 100,000 LSP, you need to sell 0.0000001 of the asset at the price of 1,000,000,000,000. However, the network can’t process these numbers. Therefore, we’ve minted a new LSP-backed asset with a high price to solve this problem.

Marketplace

We’ve also developed a clean interface to let you buy and sell Lusis. Let’s talk about the screens:

All Lusi

This screen lets you view all the Lusi along with their prices. You can also sort the Lusis based on price and ID.

Note that a — indicates that the Lusi’s owner hasn’t set a price.

Lusi Details

By clicking on a Lusi, you can expand its details to view more relevant information such as the owner and NFT specifications.

If you connect an account that owns a Lusi, you’ll see a button on the page that lets you set a price for the Lusi on a modal page. Other users can send you their offers, and if someone offers your asking price, the network will perform the transaction.

On the other hand, if you’ve already set a price, clicking on the button lets you change the price.

Now let’s see what happens when you connect an account that doesn’t own a Lusi.

In this case, you’ll see a “Send offer” button, which will open up a modal and let you place an offer to buy the Lusi.

A cool feature on this page is that you can see the owner’s Twitter and Telegram accounts. We’ve come up with a simple on-chain solution to let Lusi owners publicly display their contact information, which also provides a way to demonstrate ownership using social media — in addition to controlling a wallet.

This solution makes it easier to connect with Lusi owners in the real world.

How can Lusi owners add their Twitter and Telegram addresses to owner info?

Each account requires a Manage Data operation using the owner’s address.

Here’s the operation for Telegram:

Name: LusiTelegram

Value: Your Telegram ID

And here it is for Twitter:

Name: LusiTwitter

Value: Your Twitter ID

You can use Rabet to send the operations in a simple intuitive environment.

Stats

Here, you can view Lusi trade stats in the marketplace.

• The volume of traded Lusis in the past 24 hours.
• The volume of traded Lusis in the past 7 days.
• The total volume of trades in the marketplace since the beginning.
• The chart shows the volume of traded Lusis during each day.

My Lusis

Here, you can see the Lusis owned by the connected account.

My offers

On this page, you can see the offers you’ve placed for different Lusis and remove whichever one you want.

Note: The marketplace interface only supports buying and selling Lusis with NLSP assets. However, that doesn’t mean you’re limited to only one currency. You can use various SDEX to place buy and sell orders using any pair of assets.

You can even send your Lusi without relying on any tools or exchanges. Just send the Lusi to another wallet using a simple Payment operation. As we mentioned, the account that holds the Lusi is considered to be its owner.

Decentralization

Now, let’s see how it’s possible to mint a fully decentralized collection on Stellar. If you’re bored by the technical details, you can skip this section.

As you most likely know, Stellar doesn’t support smart contracts. We’ve already mentioned multiple times on our social media that Stellar has the right mix of operations to emulate the smart contracts.

You can always find your solution on-chain.

We converted each Lusi image into an asset with the following conditions:

1. Total supply = 0.0000001:

This is the smallest non-divisible value you can set for an asset. Setting total supply to this value ensures there’s only one of each Lusi. So, if a user has 0.0000001 of a Lusi in their wallet, they effectively own that Lusi.

2. Lusi ID, IPFS hash

After creating the assets for the Lusis, we uploaded all of them to IPFS, a decentralized cloud network, and used the Manage Data operation to store the obtained image hashes on the creating account’s data section. We set each name-value pair to (Lusi ID, IPFS hash). Using this approach, we can assign each Lusi to its corresponding number and record it on Stellar.

3. Weight = 0

We can guarantee that each Lusi is an NFT only if the settings are immutable. In other words, no one must be able to control the account or use it to perform other operations. To achieve this, we set the weight of Lusi’s asset issuer to 0. As a result, we’ve essentially blocked all access to the account that created these 108 assets.

Thank you for reading this article.