LBank AMA Recap with LNR
On 9 June we held an AMA with the LNR team, hosted on LBank official telegram channel. If you missed this telegram session, here’s another chance to get a full transcript of the AMA event.
Introduction:
Yeah so my name is MasterJedi, and I’m the CTO of Lunar. I’ve been in software development for a few decades now, and I’ve also worked on several projects over the years with Spaceman, our CEO.
Lunar is a project that is is re-centralizing crypto around you, the user. The tools in the space are far too complicated, and not designed with you in mind. Our goal is to bring Apple level design and attention to detail to the space to power the next billion crypto users, and expand the reach of commerce beyond this planet.
Finished.
Section1:
Question 1: Can you tell us about your team members? are they qualified and professional in their fields? what are the recruiting qualifications for team members for your extraordinary project?
Guest:
Absolutely. I can confidently say that the team we’ve put together is one of the best in the space.
Our CTO, MasterJedi, is a software architect with over 20 years experience building enterprise-grade apps for companies and governments. His open source work across dozens of projects has over 800 million downloads (yes, 800 million).
Our CEO, Spaceman, is a serial founder, product designer, and user experience leader who has built multi-million dollar businesses across multiple industries including FinTech.
The rest of our team is incredible to work with highly skilled at what they do, and highly motivated to realize our collective vision.
Finished.
Question 2: What makes the Lunar platform different from other DEX platforms?
Guest:
This is a great opportunity to explain what we do and what problem we solve at a high level:
Currently, DeFi is highly convoluted and unnecessarily difficult for the end user. You have to juggle 8+ separate apps and numerous separate wallets to engage in the fundamental aspects of crypto trading and research.
And that’s just for one blockchain. Swapping tokens across different blockchains is its own multi-step process that requires numerous separate apps to complete.
The goal for Lunar is simple: To streamline the entire crypto experience.
We’re building a platform that puts all of the functionality you need in one seamless interface, and lets you trade almost any token across different wallets and blockchains i
Question 3: Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project same like this? If not can u tell us, What makes your project different from other projects?
Guest:
Not at all, the entire reason we exist as a company is to deliver an amazing platform that revolutionizes DeFi for the end user.
We’re actually already delivering on our goals. We recently released our own native blockchain, Plexus, which is what we use to process multi-step and cross-chain transactions in a lightning fast, immutable manner.
On top of this, we’re real-world operators who have built companies before and have shipped robust applications that are used by people all across the world. We have the right about of both Web2 and Web3 experience to ship reliable products consistently, which many projects staffed by young adults right out of college simply don’t have.
I mean, we went from our first contract to a deployed native chain built on .NET in just 6 months. That’s pretty crazy, and that was only possible because we’ve built a deep bench of tools and talent to draw from.
Finished.
Question 4: Could you tell us a little about the “your token” that is used by you in your ecosystem, i.e. How it works, what kind of utilities and benefits it provides to users, and In fact how it contributes to the growth and progress of your ecosystem right now and in the near future?
Guest:
LNR is a utility token that powers the entire Lunar ecosystem.
One of the main ways in provides utility is in facilitating the movement of value across blockchains in cross-chain transactions on our platform.
We have over 40,000 token holders, and this number has been growing steadily since launch.
The current LNR tokenomics are as follows:
8% tax, 6% to development, operations and marketing, and 2% back to holders in reflections.
The LNR token contributes to our growth and progress right now in 3 main ways:
- It’s at the core of our cross-chain technology.
- It helps fund the business and pay the best developers to work for us.
- It helps attract users for our platform, as people who would buy tokens such as LNR are the same people that would use our platform.
As our platform expands, so do the possibilities for our token.
Question 5: Almost every investor holds the token for the short-term without understanding the long-term value. So, how can you ensure for us that holding this token is more beneficial for long-term and what is your plan to increase the demand and scarcity of the token?
Guest:
Look, we have super-ambitious goals for the Lunar platform that go well beyond what we’ve talked about so far. We have a multi-year plan to make this thing one of the top 10 crypto platforms by volume.
The great part about LNR, is that our ecosystem is designed to drive more and more utility/use of the token over time.
As the user base of the Lunar Platform grows, the users/demand of the LNR token grows as well.
If you look at what we’ve accomplished in the last 6 months, then extrapolate that out to 18 months from now… you’d better strap in and hold on! :)
Section 2
@Simona_fullerton_24
Many projects have problems with UI / UX and this one turns off new users. How do you plan to improve the interaction with new users and with users outside the crypto space?
Guest:
MasterJedi •●:
Yeah so my name is MasterJedi, and I’m the CTO of Lunar. I’ve been in software development for a few decades now, and I’ve also worked on several projects over the years with Spaceman, our CEO.
Lunar is a project that is is re-centralizing crypto around you, the user. The tools in the space are far too complicated, and not designed with you in mind. Our goal is to bring Apple level design and attention to detail to the space to power the next billion crypto users, and expand the reach of commerce beyond this planet.
Finished.
Biggiedip CM:
Question 1: Can you tell us about your team members? are they qualified and professional in their fields? what are the recruiting qualifications for team members for your extraordinary project?
MasterJedi •●:
Absolutely. I can confidently say that the team we’ve put together is one of the best in the space.
Our CTO, MasterJedi, is a software architect with over 20 years experience building enterprise-grade apps for companies and governments. His open source work across dozens of projects has over 800 million downloads (yes, 800 million).
Our CEO, Spaceman, is a serial founder, product designer, and user experience leader who has built multi-million dollar businesses across multiple industries including FinTech.
The rest of our team is incredible to work with highly skilled at what they do, and highly motivated to realize our collective vision.
Finished.
Biggiedip CM:
Question 2: What makes the Lunar platform different from other DEX platforms?
MasterJedi •●:
This is a great opportunity to explain what we do and what problem we solve at a high level:
Currently, DeFi is highly convoluted and unnecessarily difficult for the end user. You have to juggle 8+ separate apps and numerous separate wallets to engage in the fundamental aspects of crypto trading and research.
And that’s just for one blockchain. Swapping tokens across different blockchains is its own multi-step process that requires numerous separate apps to complete.
The goal for Lunar is simple: To streamline the entire crypto experience.
We’re building a platform that puts all of the functionality you need in one seamless interface, and lets you trade almost any token across different wallets and blockchains in a single click.
Finished.
Biggiedip CM:
Question 3: Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project same like this? If not can u tell us, What makes your project different from other projects?
MasterJedi •●:
Not at all, the entire reason we exist as a company is to deliver an amazing platform that revolutionizes DeFi for the end user.
We’re actually already delivering on our goals. We recently released our own native blockchain, Plexus, which is what we use to process multi-step and cross-chain transactions in a lightning fast, immutable manner.
On top of this, we’re real-world operators who have built companies before and have shipped robust applications that are used by people all across the world. We have the right about of both Web2 and Web3 experience to ship reliable products consistently, which many projects staffed by young adults right out of college simply don’t have.
I mean, we went from our first contract to a deployed native chain built on .NET in just 6 months. That’s pretty crazy, and that was only possible because we’ve built a deep bench of tools and talent to draw from.
Finished.
Biggiedip CM:
Question 4: Could you tell us a little about the “your token” that is used by you in your ecosystem, i.e. How it works, what kind of utilities and benefits it provides to users, and In fact how it contributes to the growth and progress of your ecosystem right now and in the near future?
MasterJedi •●:
LNR is a utility token that powers the entire Lunar ecosystem.
One of the main ways in provides utility is in facilitating the movement of value across blockchains in cross-chain transactions on our platform.
We have over 40,000 token holders, and this number has been growing steadily since launch.
The current LNR tokenomics are as follows:
8% tax, 6% to development, operations and marketing, and 2% back to holders in reflections.
The LNR token contributes to our growth and progress right now in 3 main ways:
- It’s at the core of our cross-chain technology.
- It helps fund the business and pay the best developers to work for us.
- It helps attract users for our platform, as people who would buy tokens such as LNR are the same people that would use our platform.
As our platform expands, so do the possibilities for our token.
Finished.
Biggiedip CM:
Question 5: Almost every investor holds the token for the short-term without understanding the long-term value. So, how can you ensure for us that holding this token is more beneficial for long-term and what is your plan to increase the demand and scarcity of the token?
Guest:
Look, we have super-ambitious goals for the Lunar platform that go well beyond what we’ve talked about so far. We have a multi-year plan to make this thing one of the top 10 crypto platforms by volume.
The great part about LNR, is that our ecosystem is designed to drive more and more utility/use of the token over time.
As the user base of the Lunar Platform grows, the users/demand of the LNR token grows as well.
If you look at what we’ve accomplished in the last 6 months, then extrapolate that out to 18 months from now… you’d better strap in and hold on! :)
2. @VeronikaBible99
Almost 4/5 of investors are focused purely on the price of token in short term instead of understanding the real value and health of the project. Could you tell us on motivations and benefits for investors to hold your token in long term?
Guest:
Look, here is the thing. Crypto is VERY complicated right now, So if we can’t get people to be able to use it effectively when there sitting here on earth, how are they going to use it when they’re in space suits on Mars in 12 years, and they need to order supplies for the next transport while outside the main habitat?
THAT is really the future of commerce that we’re talking about. Too many people like to count Elon Musk out. Very few people are thinking about what the world looks like WHEN he achieves his goals.
That is the level that we are thinking about this at. And that’s why our investors are bullish about our long-term future.
3. @Oceronecet8826419
Hello @MasterJediLNR Funding is an important part for any project. So I want to know how much funding you raised from the Investor?
Guest
Everything we’ve built so far has been funded by our tokenomics, and our amazing investor community. We have not take institutional investment at this time, but are always considering our options.
4. @DeloisNettles63
Do you have any plan for burning tokens in the future to reduce the supply of the token and increase its investment attractiveness?
Guest
We have an upcoming contract migration that will be adjusting the number of zeros in the supply. That transition will be seamless for our token holders, and set us up for a number of future features, such as staking. We’ll have more details about that in early Q3 as we complete our first NFT sale and get the migration underway.
5. @chinpettit
Do you guys feel satisfied by seeing your progresses and achievements till now, when you look back to the day when you have started this project?
Guest:
I love this question. We started this project in November, and to grow as much as we have has been *insane* to watch. I know for the last few months the dev team and I have been pulling 10–14 hour days, working to get our .NET-powered blockchain up and running to power our NFT purchasing system.
The application architecture consists of over 30 code projects and 21 database tables. We’ve rolled out over 200 Alpha builds, 8 Beta builds and 3 production builds. Our last checkin touched over 200 files, and our Minting app rolls through over 46 distinct states as you mint NFTs.
That’s not to mention all of the different exchanges, the INSANE work of our Cosmo our community leader, and all our mods, and everything else we have coming between now and August. We have a giveaway that will be BY FAR the biggest this industry has ever seen.
So yeah, I’m INCREDIBLY proud of this team and what we have accomplished.
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