Lumerin Blog
Published in

Lumerin Blog

2021: A year in review for Titan and Lumerin

A recap of what we’ve achieved together

Click on the link below to read the Russian version:

What a year 2021 has been! It’s still hard to believe how far we’ve come in only one year looking back. Twelve months ago, the Titan/Lumerin team was composed of only four people.

We’re now thrilled to say that we’re working full-steam ahead, with a team of over 30 exceptional professionals and a thriving, growing community.

Thanks to you, we had a great run in 2021, and we’re very excited for 2022. Here’s what we’ve achieved together.

TL;DR:

  • 26 devoted professionals joined our team — and we’re still hiring!
  • $30,000,000 worth of tokens sold throughout seed, private, and public sales.
  • 43,000,000 Lumerin tokens sold for a total of $15.7M.
  • 2 new products launched.
  • More than 12,000 new members arrived in our community.

Product launches

Titan has been around for a few years now. Ryan Condron, the CEO, started the company with Jeff Garzik and Matthew Roszak in 2018.

In 2021, after three years of strategizing, designing, and building, the company hit the ground running, launching its most ambitious projects.

Titan Public Pool

We started the year with our very own, United States-hosted mining pool.

Titan Public Pool came online in February and has been in closed beta since then, with performance testing done by some of the world’s largest miners.

Throughout the year we continued to add new features to the pool, including multi-user account functionality, two-factor authentication, administration management tools and report link capabilities.

And there’s still more to come!

Titan Private Pool

After the success of our Public Pool, we decided to raise the stakes and offer its advantages to any miner willing to run a mining pool themselves, leading to the launch of Titan Private Pool.

The Titan Private Pool is a one-of-a-kind solution for mining pool hosting. It’s cost-effective and optimized to save miners the substantial risk and technical complexity of hosting their pool — all for a small, flat fee.

Get in touch if you’re interested in our Private Pool solution or would like to see a demonstration.

Lumerin Protocol

Among all the innovative projects we’ve worked on at Titan this year, the Lumerin Protocol stands out. We believe this open-source, peer-to-peer solution is the most ambitious hashrate commoditization project yet.

Yes, we’re cheating a little bit here. Lumerin hasn’t officially launched yet. However, after the progress we’ve made throughout the year, the token sale, and how excited we’re about it, we couldn’t leave it out of the list!

Last year, we successfully routed hashpower through the Lumerin Node via the Marketplace as part of the Stage 1 proof-of-concept.

Stage 1 wallet application development, smart contract development, and the front-end web app development have all been completed. Stage 2 development is currently ongoing.

When it goes live, the Lumerin Protocol will enable the decentralized control of hashpower through smart contracts, making hashpower tradable and achieving decentralization through open market dynamics.

Nevertheless, a hashrate marketplace is only the start. With an open-source network like Lumerin and the efforts of the developer community, we will be able to unlock the true potential of proof-of-work hashpower, including:

  • Hashrate financialization and derivatives (futures, options contracts).
  • Hashrate collateralized loans.
  • Decentralized mining hardware rentals.

We can’t wait to see what we can build together on top of Lumerin over the next few years. With the community’s help, we are confident that we will transform the crypto mining ecosystem.

Learn more:

  • Are you interested in helping us define our vision? Do you want to build on Lumerin? We’re looking for you! Email us at development@lumerin.io.
  • Watch the Lumerin Protocol explainer video below:

Seed, private, and public sales

All the progress we made in 2021 wouldn’t have been possible without the support of our investors, partners, and the community.

We are incredibly humbled and proud to have had such a vote of confidence from some of the renowned leaders in the mining industry, as well as thousands of crypto enthusiasts and community members.

Thanks to you, we exceeded our expectations and now have the necessary resources to support the ongoing marketing and growth of the Lumerin network.

Here’s what you helped us achieve:

Seed round

The seed round marked the start of our sales period.

During the first of our three sale rounds, we were humbled to see that several institutional investors and renowned venture capital firms took interest in our vision and trusted us to implement it.

Among those who supported us during our initial stages are Coinbase Ventures, Bloq, Fenbushi Capital, DLT ASA, and several others.

Their early trust served as a powerful endorsement of our team and project, and gave us the push we needed to get the ball rolling. Thank you!

Private round

The private sale started mid-2021, and after securing several strategic partnerships and overwhelming support from industry leaders, we sold $6M in tokens.

We want to express our gratitude for their trust once again to:

  • Cadenza Ventures
  • Fundamental Labs
  • Outlier Ventures
  • Tribe Capital
  • Digital Finance Group
  • Caballeros Capital
  • 11–11 DG Partners

All of them were key to helping us achieve our goals, and we couldn’t be happier to count on their support. Thank you!

These are only some of our several wonderful partners who helped us achieve our goals last year.

Public sale

The Lumerin token sale successfully ended on December 8, 2021. Over a week, you — our wonderful community — purchased over 43,000,000 (43 million) tokens.

As a result, you helped us generate an additional $15,748,727 ($15M).

The response we got was incredible, and according to the Tokensoft team, we were the fastest project to reach $10,000,000 in sales on the platform.

If you participated in our Public Sale, we want to thank you for your support and the trust you placed in us. We will work tirelessly to uphold it.

If you didn’t, don’t worry! There’s a place for everyone in our community, and we’ll be glad to have you.

Overview

Throughout the year, we sold a total of $30,000,000 ($30M) worth of tokens across the seed, private, and public sale rounds.

This is a massive success that allows us to enhance our development efforts and further accelerate creating the first decentralized hashpower commoditization protocol.

We’re working on new exciting partnerships for Q1 2022. Stay tuned!

Outstanding partnerships

Among all the extraordinary partners that joined us last year, there are a couple we’d like to highlight.

Hive Blockchain

Hive Blockchain Technology Ltd. is a publicly-traded, green energy-powered cryptocurrency miner company and an industry leader. Back in December, the company invested $5M into Titan.

Hive’s Executive Chairman Frank Holmes stated that the company wants to participate in the growth in the blockchain ecosystem, such as mining software, transparent pools, and innovative new tokens. This investment aims to do that.

We’re thrilled to be partners with an organization with the expertise and leadership in the mining space of Hive.

We look forward to working with them to maximize mining efficiency and transform hashpower into a global tradeable commodity using the Lumerin Protocol.

Veriblock Foundation Partners

The VeriBlock Foundation is a nonprofit committed to increasing awareness and adoption of the VeriBlock Blockchain and its Proof-of-Proof (PoP™) security protocol.

Titan and VeriBlock entered a partnership in August 2021. As part of the agreement, Titan endorsed VeriBlock’s Proof-of-Proof protocol, including at least one PoP transaction whenever our pool mines a Bitcoin block.

We’re excited to enhance our Bitcoin mining services with PoP to make Bitcoin greener and increase Bitcoin miner revenue in a mutually beneficial way.

Community and growth

Seeing our community grow has been one of the highest points of 2021. We were delighted to see how you flooded our social channels and joined the conversation about Lumerin.

Our Discord and Telegram channels saw the arrival of over 12,000 new members, and our follower count on Twitter skyrocketed in the final stretch of the year.

If you still haven’t, you can join a thriving community of crypto enthusiasts through the links below:

We’re looking forward to the exciting conversations and exchanges you have on our social channels. Remember that you can also turn to them to seek help, ask us questions, or give us feedback. We want to hear from you!

The year in numbers

All in all, 2021 has been an excellent year for Titan and Lumerin, both in growth and progress.

As a summary, let’s break down everything we’ve mentioned here in numbers:

TL;DR:

  • 26 devoted professionals joined our team — and we’re still hiring!
  • $30,000,000 worth of tokens sold throughout seed, private, and public sales.
  • 43,000,000 Lumerin tokens sold for a total of $15.7M.
  • 2 new products launched.
  • More than 12,000 new members arrived in our community.

What’s in store for 2022

We have no words to express how grateful we are to every single one of you who’s been with us along the way. Thanks to you, we went beyond expectations and overachieved our yearly goals.

However, there’s still much work to do, and we’re confident that the best is yet to come.

We are working tirelessly to bring the hashrate marketplace online as soon as possible this year.

Lumerin has had a phenomenal year. We continue to add strategic partners and key talent hires, and we are also making significant developments to the underlying protocol and network slated to launch in 2022.

We have a challenging year ahead of us, but we have no doubt that with the support of our partners and community, 2022 will be as successful as 2021.

Again, we want to thank you all for placing your trust and confidence in us. We’re proud of the community you have built around Lumerin, and are committed to making it even greater.

See you around,

The Titan/Lumerin team.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Lumerin Protocol

Lumerin Protocol

Making crypto mining hashpower a tradeable commodity. Built by Titan Mining. Visit us on https://lumerin.io/.