$LUM Token
LUM token is the reward token of ShimmerSea. It is used to provide a high incentive to customers to provide liquidity to the DEX.
Last updated
LUM token is the reward token of ShimmerSea. It is used to provide a high incentive to customers to provide liquidity to the DEX.
Last updated
Launch
The LUM Token was launched for the first time via a Fair Launch liquidity event. This means that no tokens have been previously minted and distributed to investors/community via ICOs, private sales, or pre-airdrops. This is very crucial because the more tokens that have been distributed in advance, the higher the selling pressure can be on the token after the launch. Minting
A constant of 4 LUM can be maximal minted and distributed with each second (See table). The LUM token has no hard or soft cap.
4 (100%)*
345.600
Liquidity Inventives for Farming and Staking
*The minting rate will be reduced at the beginning of the DEX to reduce inflation impact. In addition, we will mint some LUM into the DEV wallet to pay for infrastructure costs.
Utility
The LUM token is the reward token of the ShimmerSea DEX. Through participation, such as providing liquidity, the LUM token can be earned and traded on the market. The demand for LUM is additionally spurred by the fact that particularly high rewards can be expected for staking and farming with LUM. Moreover, LUM is crucial for anyone who wants to obtain Magic LUM via the Booster. Accumulating LUM and refining it in the Booster is therefore the best strategy to get Magic LUM and thus participate in the long-term success of ShimmerSea.
Burn
In addition, several burning mechanisms are built into the DEX, which go live one after the other and remove LUM from circulation. The first burning mechanism, which is activated from the beginning, comes from the trading fees generated by the platform. 50% of the total trading fees are used to buy and burn LUM from the market. Another burning mechanism, which is activated after three months, comes from the booster. In the booster, LUM are upgraded to Magic LUM, which removes the entered LUM and thus takes them out of circulation.
- 50% of trading fees are used for buyback and burn LUM - 100% Deposit fees are used for buyback and burn LUM - 100% Fairlaunch Listing fees are used for buyback and burn LUM - 100% NFT Marketplace fees are used for buyback and burn LUM - Magic LUM Booster burning mechanism
Deflationary Mechanics Overview until Booster goes live
