๐๐๐ ๐๐๐๐๐๐๐ ๐ ๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐ (๐๐๐)
Many people may be curious about the function of lux points in the near future. Some have argued that it is a technique of rewarding the community. Despite this supposition, I was obliged to explore and present my findings.
The @Lombard_Finance Luminary Program is a reward system that aims to incentivise and honor Lombard ecosystem users, particularly those who use its flagship product, $LBTC. Lombard, a decentralized finance platform, seeks to connect Bitcoin with DeFi by converting it from a static store of value to a dynamic financial instrument. The Luminary Program contributes significantly to this aim by recognizing early adopters, loyal users, and active contributors, therefore encouraging engagement and growth within the ecosystem.
The term "Lux," derived from the Latin word for "light," symbolizes participantsโ contributions to illuminating and expanding the Lombard ecosystem. The program is structured as a long-term initiative to encourage both new and existing users to interact with $LBTC through various activities.
Currently you can earn lux via:
โ Staking and Holding $LBTC: Users can stake their $BTC via Lombard to receive $LBTC, a yield-bearing, cross-chain-compatible token backed 1:1 by $BTC. Holding $LBTC or staking $BTC is the foundational method to accumulate Lux, with rewards scaling based on the amount and duration of $LBTC held.
โ DeFi Participation: Placing $LBTC into the Lombard DeFi Vault or integrating it with partnered DeFi protocols (e.g., lending, liquidity pools) allows users to earn additional Lux. This encourages the use of $LBTC across DeFi ecosystems, amplifying Bitcoinโs utility.
โ Special Events: The program includes time sensitive and community driven activities such as:
๐ธFlash Events: 1&2 done โ
๐ธ Multi chain & LBTC maxi done โ
Many more chances to come as announced via the 0.1% club tweet where @Lombard_Finance is celebrating the milestone of 0.1% of $BTC total supply= $LBTC minted
https://t.co/f0H3liulES
Lux rewards are tracked transparently using Sentio, a blockchain infrastructure platform that monitors $LBTC holdings and DeFi activities. Users can view their accumulated Lux by connecting their wallets to the Lombard Appโs DeFi tab, and users can also calculate their earned lux manually via Number of Lux = Days Staked x Amount of $LBTC x 1,000. For example, a user staking 0.01 $BTC for one day receives 10 Lux.
However, Lux points are explicitly non-transferable, non-monetary, and do not represent tokens or property. @Lombard_Finance reserves the right to modify or discontinue the program at any time, emphasizing that Lux may not necessarily convert into future digital assets like a governance token, though speculation about such potential exists among users given similar DeFi trends. Lombard had stated that Lux is not a currency or asset, which may temper expectations but also builds trust by avoiding overpromises. The integration with Sentio adds transparency, ensuring users can track their contributions in real time.
To sum it up, the luminary programโs flexibility (e.g., Lombardโs ability to alter rules) could introduce uncertainty. The lack of a confirmed token could be strategic, keeping the focus on ecosystem development rather than speculative hype. For now keep earning those lux points WAGMI. ๐งก๐งก๐งก
1/6. Before the introduction of Bitcoin Liquid Staking Tokens (BTC LSTs), participation in DeFi activities using Bitcoin was primarily facilitated through Wrapped Bitcoin (WBTC) on Ethereum. However, this approach came with several limitations, let me explain, a thread ๐งต ๐
Introducing Ika Staked SUI (iSUI) on Suilend!
iSUI by @ikadotxyz is now available for deposit, offering a LTV ratio of 70% with an initial deposit limit of 250k iSUI.
Deposit iSUI now โคต๏ธ
1/6. Security remains the utmost priority of any project regardless of the numbers of investors it harbors, a quick dive into the @Lombard_Finance security consortium
https://t.co/nHh294faLx
In case you missed the news ๐
$13.5M raise led by @BITKRAFTVC
๐นLeveraging DePIN to revolutionize game infrastructure
๐นTop-10 DePIN project at launch, with established demand
๐น80+ games live, 150+ in development, billions of API calls served
๐๐ฎ๐๐ฌ๐ฌ ๐ฐ๐ก๐จ ๐ก๐ข๐ญ ๐๐๐ ๐ฆ๐ข๐ง๐ญ?
@Lombard_Finance $LBTC has reached the 21k mint milestone, which is a huge figure. The growth continues, and the increase in DeFi activities serves as evidence.
Congratulations ๐ ๐ ๐ team
#BTC#DEFฤฐ#btcfi
๐๐๐ง๐๐ ๐พ๐๐๐๐ฃ๐จ ๐'๐ ๐ก๐๐ ๐ ๐ฉ๐ค ๐จ๐๐ $๐๐ฝ๐๐พ ๐๐
I would want to express my thoughts on the chains I would like to see $LBTC on, as the debut on the SUI network demonstrates the flexibility and interoperability of $LBTC.
โ ๐๐ฉ๐ญ๐จ๐ฌ
AKA Solana killer, a Layer 1 blockchain that prioritizes scalability, security, and usability, with the purpose of pushing widespread use of Web3 technology. @Lombard_Finance $LBTC leveraging Aptosโs High Scalability and Throughput will usher in a great DeFi experience. Being that $LBTCโs utility depends on the performance of the chains it operates on. On Ethereum, for instance, high gas fees and slower transaction speeds (15-40 TPS pre-Merge) can limit its efficiency for high-frequency DeFi use cases. Deploying on aptos will reduce transaction cost and also expand DeFi opportunities.
โ ๐๐จ๐ฅ๐๐ง๐
Solana is a high-performance Layer 1 blockchain that maintains decentralization while offering scalability, speed, and cheap transaction fees. Solanaโs ecosystem has grown significantly, boasting over $11 billion in total value locked (TVL) as of early this year, with over hundreds of vigorous DApps. @Lombard_Finance $LBTC can leverage Solana's network to become a more rapid, affordable, and adaptable liquid Bitcoin token. $LBTC might expand its position in Web3 finance and perhaps surpass competitors on slower chains by utilizing Solana's speed, cheap fees, and developer tools. Solana's capabilities complement Lombard's objective of unleashing Bitcoin's potential, making it an attractive target for $LBTC's future growth.
โ ๐๐๐ฆ๐ข ๐๐๐ญ๐ฐ๐จ๐ซ๐ค
A modular Layer 2 blockchain launched mainnet a few weeks ago, designed to unify Bitcoin and Ethereum into a single interoperable "supernetwork." Their core innovation is the Hemi Virtual Machine (hVM), which embeds a full Bitcoin node within an Ethereum Virtual Machine (EVM). This allows developers to build smart contracts that interact natively with both Bitcoin and Ethereum states, using familiar Ethereum tools while leveraging Bitcoinโs security. It also uses a proof of proof (PoP) consensus where pop miners periodically publish Hemiโs state to Bitcoin, making transactions as secure as Bitcoinโs blockchain itself.
$LBTC launching on @hemi_xyz would be super easy using the Hemi tunnel https://t.co/1YyACbOHRB, a trustless cross-chain bridge that enables secure asset transfers between Bitcoin and Ethereum without centralized intermediaries. Not up to a month on mainnet Hemi already secured over 50 ecosystem partners which includes DeFi platforms and infra providers. Currently on point program which will attract more users!
๐๐๐ ๐ ๐๐ ๐ ๐๐๐ ๐ข ๐๐๐๐
Here's a look at the life of a DeFi nerd, a passionate blockchain enthusiast who thrives in the wild world of decentralized finance.
A DeFi nerd gets up early, not because he have to, but because he want to look into the newest yield farming options before the market swings.
His morning ritual combines caffeine with cryptocurrency, a strong cup of coffee in one hand, a hardware wallet in the other, and a laptop screen displaying charts from @Dune Analytics or @DefiLlama.
He's not just tracking prices, he is analyzing gas fees, liquidity pools, and APYs with the precision of a surgeon, he might have a normie job; software developer, accountant or a doctor, but his real life happens in the cracks. Lunch breaks are spent opening positions on @vertex_protocol or @tradeonblitz, chasing Max LRT on @YieldNestFi, or yapping about $LBTC like theyโre stories.
He's got @zerion extension plugged into his browser, a dozen tabs open containing series of Testnets, eyes glued on the screen in search for bugs.
A DeFi nerdโs social circle is a mix of IRL friends who donโt get it (โ๐๐๐ขโ๐๐ ๐ ๐ก๐๐๐ ๐๐๐ก๐ ๐กโ๐๐ก ๐๐๐ก๐๐๐๐๐ก ๐๐๐๐๐ฆ?โ) they're all left in bemusement when he discusses crypto with his fellow nerd.
Nights are for deep dives. Maybe he is staking $LBTC on @Lombard_Finance, providing liquidity on @hemi_xyz network or writing threads to keep the @KaitoAI yaps coming in. He has lost sleep over liquidated positions and rejoiced over airdrops that paid off rent.
Risk is his adrenaline, every transaction is a calculated gamble, every exploit a lesson. He's been rugged, hacked, and scammed, but he wears it like a badge of honor.
To a DeFi nerd, the circle isnโt just a hobby, itโs a lifestyle, a philosophy, a rabbit hole he'd gladly tumble down forever. Thatโs the life of a DeFi nerd, he believes that decentralized finance isnโt just a trend, itโs the endgame!
๐๐ ๐๐ง.
๐น We might be overlooking an application that will not only enroll billion users to the space, but also whitelist OG addresses for generational incentives, curious to know what @zerion is cooking? Here are my personal opinions. A thread ๐งต...