Formally launched final fall, the Lum Community is a promising Cosmos-based undertaking with a giant imaginative and prescient for the long run—to grow to be a belief layer for corporations of the long run.
Sarah-Diane Eck, the CEO of Lum Community, spoke to Cryptonites’ Alex Fazel about what the platform is attempting 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 thought for Lum has been in growth since 2018, it wasn’t till the autumn of 2021 that the platform formally launched. Nonetheless, the few operational months behind the platform doesn’t imply that it’s been sluggish in growth.
Lum’s CEO, Sarah-Diane Eck, mentioned 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 shoppers. Constructed utilizing the Tendermint and Cosmos SDK, Lum gives a belief layer to companies utilizing its platform and allows them to reward their clients for offering content material and opinions.
Eck mentioned that selecting Cosmos as its blockchain of selection was a technical choice Lum’s growth workforce made in 2018. Again then, there was no IBC, and Cosmos was nonetheless in its early days when it comes to functionalities. Nonetheless, the blockchain’s technical facets made it a transparent selection for Lum, and Eck says the workforce 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 instructed Cryptonites.
The Lum workforce 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 undertaking.
And Lum has already positioned itself on the trail to success. Since launching final yr, Lum has launched two main tasks—Lumki and Skeepers. Lumki is a reward app that allows its customers to earn LUM tokens via cashback provides and creating content material for retailers.
Skeepers, then again, is a number one model evaluate platform, processing over 30 million opinions per yr. It makes use of the Lum Community to stamp all of its opinions, make them tamper-proof, and supply reviewers with rewards for taking part.
In contrast to related tasks, Eck mentioned that Lum doesn’t conceal that the rewards it’ll give out are cryptocurrencies. The truth that these rewards are on-chain and can be utilized for staking introduces a gamification component she believes will assist entice extra folks 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 folks to stake their rewards.
Lum’s aim is to construct a consumer-centric product that’s straightforward to make use of and provides manufacturers the flexibility to leverage the group they constructed—with out leaving the group behind.