Whitelisting is live for Lumerin Public Sale!
Here’s how to sign up for the sale
*UPDATE: The Public Sale is officially OVER! We want to thank everyone who joined us and participated in the sale. We will be sharing the results and next steps in another article shortly. Stay tuned!
Dear Titan community,
Since 2018, when this company was founded, we’ve been working arduously to bring the best possible solutions for optimizing crypto mining at scale. Now, after more than three years of development, it is with great excitement that we announce that the whitelisting for the Lumerin token public sale is live on Tokensoft. Stay tuned for more sale details in a subsequent post!
Introduction
In this post, you will learn everything you need to know about the Lumerin Protocol and how to sign up for the public sale. Below, you will find information about:
- What is Titan?
- What is the Lumerin Protocol?
- Lumerin token distribution
- How to sign up for the Lumerin public sale
TL;DR
- Titan is a software company focused on cryptocurrency mining, currently building the open source Lumerin Protocol.
- Lumerin Protocol will be a decentralized, peer-to-peer, trustless network powered by blockchain technology and smart contracts that will enable data stream routing.
- The first-use case of the Lumerin Protocol will be to support a decentralized hashpower marketplace.
- The Lumerin token is the basic economic unit of the Lumerin protocol. It will support the efficient creation of both hashpower smart contracts and the Lumerin validator nodes in creating a secure, decentralized environment.
- To participate in the token sale, head down to https://lumerin.io/tokensale and when the button “Coming Soon” changes to “Start Registration/KYC” begin to register on November 16th, 12:00 PM PST, and proceed with the KYC process.
- The public sale will be a 7-day long sale for 90 million Lumerin tokens. It will take place between Wednesday December 1, 4:00:00 PM (UTC) to Wednesday, December 8, 3:59:59 PM (UTC) — Stay tuned for more sale details in a subsequent post!
What is Titan?
Titan is a company founded in 2018 by Ryan Condron, Jeff Garzik, and Matthew Roszak. We provide powerful software and services for crypto mining at scale, as well as North America’s first enterprise-grade mining pool.
Our mission is to make crypto mining as highly optimized, efficient, and decentralized as possible.
In our efforts, we’ve found that centralization is a growing problem. Logically, hashrate concentrates in specific locations where miners have access to cheap, clean energy, friendly government regulations, and proper infrastructure. Wherever these three factors exist, you will see a strong attraction for proof-of-work mining companies to establish a presence. And as these driving factors are essentially unstoppable, they will continue to focus and centralize the creation of IT infrastructure in these locations for crypto mining.
Although these conditions make mining easier and help the industry grow, the concentration of hashrate in these particular locations poses a risk of centralization. It puts miners in a tight spot should their respective governments decide to impose restrictions.
That is why we’ve decided to build Lumerin: a decentralized, peer-to-peer, smart contract protocol that enables hashrate commoditization and re-routing.
Make sure to visit our website to learn more.
What is the Lumerin Protocol?
The Lumerin Protocol will be a decentralized, peer-to-peer, trustless network powered by blockchain technology and smart contracts that will enable data stream routing. Essentially, any “asset” (such as hashrate, videos, etc.) that is delivered via TCP/IP connections can be combined with a real-time oracle to support the asset creator in maximizing buyer access across any number of multiple delivery channels.
Through the Protocol, miners from all around the world will be able to sell hashpower regardless of their geographical location, while buyers will have complete control over it.
Unlike other tokenized hashrate projects that only grant holders with a portion of the mining revenue, Lumerin will enable buyers to actually re-route and control the acquired hashrate, meaning that they can choose where to point the hashrate.
How will it work?
Initially, we are implementing our first-use case of the Lumerin Protocol to support a hashpower marketplace. Miners will be able to create smart contracts and put their computing power up for sale. Through the very same contract, a buyer can purchase and acquire it by locking the required payment. The Lumerin blockchain then records the contract, and the hashpower is re-routed from the seller’s device to the buyer’s destination.
Using this technology enables the marketplace to function in a completely decentralized dynamic, making proof-of-work hashrate a tradable, liquid financial asset, unlocking mining profitability, and providing greater access to capital and investments.
Using simple smart contracts we create a peer-to-peer and decentralized platform that is essentially a DEX for hashpower. Through this platform, we:
- Give miners better access to larger markets for their crypto compute power
- Allow others to buy/sell compute power at reduced risk
- Provide additional opportunities for the entire mining industry through financial derivatives/futures and services for lending, custody, OTC, and trading.
The Lumerin Protocol will make proof-of-work hashrate a tradable, liquid financial commodity, unlocking mining profitability and increasing access to capital and investments for crypto miners and others who need access to hashpower.
Lumerin acts as a “thin layer” platform that sits between the mining infrastructure and the proof-of-work crypto tokens. This enables the computing power needed for crypto hashing to be easily switched from one crypto token, DeFi application, etc. to another depending on need and market pricing.
Lumerin token distribution
The Lumerin Token will be an integral part of the hashpower marketplace. Its functionality and utility will support the efficient creation of both hashpower smart contracts and the Lumerin validator nodes in creating a secure, decentralized, environment.
The Lumerin token is the basic economic unit of the Lumerin protocol. Growth in the value of the token is driven by establishing an economic flywheel, supported by the Titan Hashpower Marketplace.
Through the use of proceeds from the token allocations we will fund projects that further develop the Lumerin Protocol software, applications, tools and integrations, as well as ensuring the growth of the Lumerin open source ecosystem.
Any tokens not sold in the public sale will be contributed back into the community token tranche.
How to sign up for Lumerin token public sale
Any potential purchaser must authenticate their identity and residence in order to participate in the Lumerin token sale. For our public sale, we are working with Tokensoft, a well-established company with high-security standards. All data is stored in accordance with industry best practices for data retention and security.
Login/registration:
- Head down to http://lumerin.io/tokensale and click on the “Start Registration/KYC” button to begin the process.
- Once an individual has a valid email address associated with Tokensoft, they can use those credentials to participate in the Lumerin public sale.
- Individuals must sign in to the Lumerin token sale only during the sale’s registration period. Otherwise, they will receive an error message.
- Individuals cannot change the email address associated with their account.
Personal information requirements:
- Confirm your ID document is supported here.
When filling out your contact information and date of birth, ensure your information matches exactly what is printed on your ID document:
- If there is both latin text and other characters for your name, the latin text is preferred.
- Any discrepancies between your ID and the information you provide will significantly increase processing time and/or risk failure of KYC.
- Do not submit scanned documents or copies. Only live photos of your documents will be accepted and eligible for processing. Submitting a scanned document will significantly increase processing time and/or risk failure of KYC.
- You must provide a valid document. Expired documents will not be accepted.
- All KYC decisions are final. If you fail KYC, you will not receive a second chance to submit your information.
You will be asked to enter an Ethereum address to receive your tokens. The address you enter will have to follow these guidelines:
- It must be unique to you alone. If the address is associated with a different email account within the Tokensoft system, you will receive an error.
- It must be a self-custody wallet and not an exchange address.
Payment
Individuals will be able to provide payment in the following coins/tokens and methods:
- USDT, USDC, ETH, DAI, DOT.
MetaMask and/or WalletConnect connection:
- The wallet you connect to pay from must be unique to you. If it is associated with any other email address in the Tokensoft system, you will receive an error.
- You must have enough funds in your wallet for the payment and gas/transaction fees prior to connecting your wallet.
- You can use the recommended gas amount or speed up the transaction with more. We do not recommend that you lower the gas price, as your transaction may fall through.
Excluded jurisdictions
Residents in the following jurisdictions will not be able to participate in the public sale: Afghanistan, Belarus, Burma, Burundi, Canada, Central African Republic, Côte d’Ivoire, Crimea Region, Cuba, Democratic Republic of the Congo, Democratic People’s Republic of Korea, Eritrea, Haiti, Iran, Iraq, Kyrgyzstan, Laos, Lebanon, Liberia, Libya, Myanmar, North Korea, Palestinian Territories, Peoples Republic of China (PRC), Rwanda, Somalia, South Sudan, Sri Lanka, Sudan, Syria, United States of America (USA), Venezuela, Yemen, Zimbabwe.
