Last Updated on June 25, 2020 by CryptoCreed
Lunyr is pronounced as a “lunar”. The Lunyr is a decentralized encyclopedia which reward their users for peer-reviewing and contributing information, rewards are in-app tokens. Lunyr tokens (LUN) are used to place ads on the platform. Lunyrs main aim is to find reliable and accurate information. The developers are able to use Lunyr’s API for creating artificial intelligence, virtual reality, augmented reality, and many more.
Lunyr is an Ethereum-based decentralized crowdsourced encyclopedia that rewards users with app tokens for peer-reviewing and contributing information.
What is Lunyr Network
There are three different types of tokens used in the network, LUN, CBN, HNR. LUN tokens are used to buy advertising on the network. Honor tokens will be used for dispute resolution and it cannot be transferred to any other user and CBN tokens are used as a calculation basis to identify the amount of LUN a network participant will receive. Lunyr aims to build “the next, better and decentralized Wikipedia”, which represents a technology that will be highly accurate and fast-growing. Once the platform matures as a knowledge base, the real-time contribution of multi-language data shall be made available. Via the use of a custom API, developers will be enabled to use the knowledge base for the creation of innovative applications such as AI, VR, or AR.
It’s easy to understand from the roadmap, how it will happen. There are various steps from the crowd sale to galaxy API download whitepaper now. Its roadmap shows the starting of the project from 2017 and it finished its platform to perform perfectly in the year 2019.
The crowd sale starts on 29 March 2017 at 16:00 UTC (based on the ethereum block number) using Ethereum and will sell tokens at the rate of 44/ETH. Lunyr has a target to achieve a minimum of 25,000 ETH for the sale to be considered a success. If the project fails to raise the minimum number of 25,000 ETH, all ETH will be returned to contributors.
The distribution of LUN tokens in crowd sale is in the following way, 75% of LUN tokens will be distributed to ICO participants. 15% LUN tokens for Lunyr team and advisors, for marketing 5% of LUN tokens are available and of 2% of LUN, tokens are reserved for bug bounty if you found any bug in their system or website then contact them.
Lun Token is currently trading on than 12 exchanges with market cap of more than 280 Bitcoin. The current rate of LUN Coin is 1.12 USD.
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