Lum Network provides a decentralized review system to help consumers make the right, informed choice for their products. The Lum Network is based on Tendermint and the Cosmos SDK, aiming to use IBC to bolster and collaborate with the Cosmos ecosystem.
Stake your LUM tokens in a few clicks by following these steps:
The easiest way to stake LUM is via Keplr connected to the LUM wallet platform.
What is Lum Network?
The Lum Network is an open source sustainable, decentralized layer-1 blockchain protocol based on the Cosmos SDK and the Tendermint BFT consensus engine. The Lum Network uses a model that focuses entirely on creating trust and transparency between businesses and customers. It does this by rewarding users based on the quality of their feedback and providing customers with a source of trustworthy and reliable reviews by timestamping and storing them immutably on the blockchain.
What is a LUM Token?
lum tokens are the native tokens of the Lum network. It is the fuel of the Lum Network and is used by businesses to benefit from the trust layer while rewarding their customers, by validators and delegators to secure the network and many more.
What is Staking?
Staking is earning semi-passive income from your LUM tokens while contributing to the Lum network’s operations. You delegate your tokens to one or more validators who have an important role in maintaining the integrity of the network. It is important to do due diligence on the validators you choose.
How to get LUM tokens?
You can buy LUM on the Osmosis Trade section.
Other markets could be found on Coingecko, once added.
How to stake LUM?
Follow our instructions from the detailed guides on how to stake LUM:
When will I start getting rewards?
Once the delegation is confirmed and completed, you’ll start getting rewards, rewards are accumulated each block (~ every 6 sec).
Terminet is never in control of the rewards.
Is there a minimum staking amount?
There is no minimum staking amount.
Bear in mind that you'll need to keep a small amount of LUM tokens in the wallet to pay the fees for further transactions.
Is it possible to redelegate LUM to another validator?
Yes, you can move all your staked tokens or part of them from the current validator to another one immediately. By doing so, you won’t stop getting rewards.
Kindly note that in order to be able to redelegate from the validator you have already redelegated to, you will need to wait 21 days. You can check how many days are left until the redelegation is complete on one of the explorers under the section "Redelegations".
Note that you can redelegate from and to the same validator set only up to 7 times.
Where can I look up the transactions and explore the network?
If you want to track your transactions on the Fetch.ai network, you can do it here.
What are the risks of delegating on Lum network?
If validators double sign, are frequently offline or do not participate in governance, their staked LUM (including LUM of users that delegated to them) can be slashed. The penalty depends on the severity of the violation.
We have our own capital on the line, so we are fully incentivized to do our best to prevent such events. However, delegators must be aware that this slashing risk will always exist.
If you have any questions about our services, please do not hesitate to contact us. We are happy to talk to anyone.