Lumenswap is a decentralized change dealing with the swapping and buying and selling of digital belongings. It’s constructed on the Stellar blockchain and permits customers to seamlessly spot commerce by means of its change.
Customers get the possibility to create their very own buying and selling pairs and commerce on a distributed community aside from the already accessible buying and selling pairs. It additionally has an order restrict characteristic that permits for the right execution of trades.
Lumenswap additionally has a swap service that provides customers one of the best charges on belongings such because the ETH, LSP (Lumenswap token), USDC, USDT, USDS, PEN, and DOGET. As it’s based mostly on a decentralized mannequin on Stellar all of its public Stellar networks can be found on Lumenswap.
Utilizing Horizon, customers can evaluate the costs of various crypto belongings and discover one of the best fee for any particular commerce based mostly on its liquidity. To supply customers higher accessibility, Lumenswap additionally gives help for quite a lot of wallets equivalent to Albedo, Rabet, and Freighter aside from personal keys.
Lumenswap’s lottery system
Lumenswap additionally has a lottery that features on a distributed community with immutable information. Via the utility of blockchain know-how, Lumenswap is seeking to create a clear and truthful lottery system that will be accessible to anybody world wide.
Though the lottery mannequin has a number of similarities to conventional lotteries, having a set timeframe and a ticket for participation; the prize of the lottery can be pegged to its equal worth in XLM. The ticket too can be digital and the winner can be chosen by means of a decentralized mechanism.
Because the lottery is predicated on a good mannequin, winners are chosen on the premise of the longest matching substring of a ticket hash and ledger. This ledger/block quantity can be specified in the beginning of each spherical and as soon as ledger completion is completed, the method of choosing a winner would start.
Participation and prizes
In an effort to take part within the lottery customers simply have to switch their LSP to an tackle both manually or by means of their interface. The transaction hash would then serve the aim of their ticket ID.
To make the lottery open for everybody, Lumenswap units the costs of the lottery at an inexpensive fee. For every spherical of 21lottery, the costs can be introduced in an article known as the ‘Spherical Introduction’.
The primary spherical of the lottery is at the moment open (22 October 2021 to 22 November 2021) and would happen between ledgers 37922526 and 38405815. The value for one ticket is at the moment set at 1 LSP.
Customers can purchase as many tickets as they to extend their possibilities of successful the lottery.
The winner for the primary spherical of the lottery will obtain XLM equal to the worth of a Tesla Mannequin S ($100k).
Closing phrase
As talked about earlier, Lumenswap has an open and clear platform with a user-friendly interface. It gives scalability and low charges as it’s constructed on Stellar. The lottery system on Lumenswap additionally gives customers to take part in a lottery that’s clear and distinctive in its workings. To make the lottery inclusive, the costs of the lottery tickets have been saved very low.
Lumenswap is likely one of the first DeFi protocols based mostly on the Stellar blockchain and intends to carry a excessive scalability and low charges construction to the crypto area.
For extra data on Lumenswap please take a look at their official web site.
Disclaimer: It is a paid put up and shouldn’t be handled as information/recommendation.
