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HomeCrypto MiningLum Community needs to allow companies to leverage their communities

Lum Community needs to allow companies to leverage their communities


Formally launched final fall, the Lum Community is a promising Cosmos-based challenge with a giant imaginative and prescient for the long run—to grow to be a belief layer for firms of the long run.

Sarah-Diane Eck, the CEO of Lum Community, spoke to Cryptonites’ Alex Fazel about what the platform is making an attempt to realize and why it sees Cosmos as a leaping board that may assist it carry hundreds of thousands of individuals into the Web3 house.

Bridging the hole between content material and rewards with blockchain

Whereas the concept for Lum has been in growth since 2018, it wasn’t till the autumn of 2021 that the platform formally launched. Nevertheless, the few operational months behind the platform doesn’t imply that it’s been gradual in growth.

Lum’s CEO, Sarah-Diane Eck, stated that Lum will launch a decentralized reward system within the subsequent few weeks, enabling its ecosystem to comprehend the worth customers have been producing.

Lum is a Layer-1 platform constructing open-source instruments for manufacturers to construct engagement with customers. Constructed utilizing the Tendermint and Cosmos SDK, Lum gives a belief layer to companies utilizing its platform and permits them to reward their prospects for offering content material and evaluations.

Eck stated that selecting Cosmos as its blockchain of selection was a technical choice Lum’s growth group made in 2018. Again then, there was no IBC, and Cosmos was nonetheless in its early days when it comes to functionalities. Nevertheless, the blockchain’s technical points made it a transparent selection for Lum, and Eck says the group hasn’t thought twice about it since. The Cosmos ecosystem grew considerably over the previous 4 years, and Lum is fortunate to be part of it, she advised Cryptonites.

The Lum group is constructing a platform with a long-term imaginative and prescient, and constructing on a community that aligns with that imaginative and prescient is extraordinarily necessary to the longevity and success of the challenge.

And Lum has already positioned itself on the trail to success. Since launching final yr, Lum has launched two main initiatives—Lumki and Skeepers. Lumki is a reward app that permits its customers to earn LUM tokens by cashback gives and creating content material for retailers.

Skeepers, however, is a number one model overview platform, processing over 30 million evaluations per yr. It makes use of the Lum Community to stamp all of its evaluations, make them tamper-proof, and supply reviewers with rewards for collaborating.

In contrast to related initiatives, Eck stated that Lum doesn’t disguise that the rewards it would give out are cryptocurrencies. The truth that these rewards are on-chain and can be utilized for staking introduces a gamification factor she believes will assist entice extra individuals to Lum.

As soon as these decentralized rewards are launched, Lum will launch a staking program. Whereas LUM tokens can already be staked on the blockchain, creating a greater UI and UX will allow extra individuals to stake their rewards.

Lum’s aim is to construct a consumer-centric product that’s simple to make use of and provides manufacturers the power to leverage the neighborhood they constructed—with out leaving the neighborhood behind.

Posted In: Cosmos, Movies
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