What is Lunyr?
Lunyr is an Ethereum-based decentralized crowdsourced encyclopedia which rewards users with app tokens for peer-reviewing and contributing information. Lunyr aims to be the starting point of the internet for finding reliable, accurate information. Lunyr's long-term vision is to develop a knowledge base API that Artificial Intelligence, Virtual Reality, Augmented Reality and other software can use to create next generation decentralized applications.
Users who submit contributions on Lunyr will also be required to peer review other submissions. All submissions go through a mandatory peer review process and are not committed to the knowledge base unless approved.
For detail introduction of Lunyr, please refer to Lunyr whitepaper。
What is LUN?
One strategic component of Lunyr is Lunyr's advertising system, which allows users to purchase platform ad slots via Lunyr token ("LUN") and publish their own ads.
Another purpose of the LUN is to provide incentives for the encyclopedia platform contributors, and the user contributes to each information, which can be rewarded with the corresponding LUN tokens.A powerful incentive system enabled by app tokens ensures that peer reviewers act in the best interest of the ecosystem. For readers, there will be more valuable, peer-reviewed information that would not be available unless experts were rewarded for contributing. Lunyr's incentive system as shown: LUN rewards come from a pool of LUN that accumulates and is distributed to contributors at the end of every two-week reward period. The number of LUN that an individual contributor is rewarded is based on the percent of total CBN they hold by the end of each two-week period. Smart contracts ensure that the distribution will be handled with transparency and fairness.
The Crowdsale began March 29, 2017 at 16:00 UTC and continue for four weeks, and raised 47,923.13 ETH totally.
The conversion ratio between LUN and ETH is 44 LUN per Ether.
The overall initial distribution of LUN will be as follows:
○ 78% for Crowdsale purchasers.
○ 15% for Lunyr founders, employees, and advisors distributed to a time-locked vault that prohibits LUN transfers for 180 days.
○ 5% for marketing and promotion distributed to the Lunyr multisig wallet.
○ 2% for Bug Bounty distributed to the Lunyr multisig wallet.