Introducing Lumerin’s Community Staking Program
Dear Lumerin Community:
We are thrilled to share some exciting developments with you! As we approach the launch of our Morpheus Node testnet, we want to ensure that our fellow community members are at the heart of everything we do. Morpheus is designed to incentivize the first open-source peer-to-peer network of personal general-purpose AI, powered by the MOR token. With this in mind, we will be introducing a new staking program designed to solicit the input of our community while benefiting our dedicated participants.
What’s New?
As part of our mission to revolutionize decentralized data routing and blockchain technology, we have been working tirelessly on the Morpheus Node testnet. This is a significant step forward in creating a secure and private way for users to access and interact with decentralized AI models.
To show our appreciation for the community’s support and to encourage active participation, we will be launching a staking program that will allow LMR holders to stake and receive newly minted MOR tokens.
Introducing LMR Staking to Receive Newly Minted MOR
Here’s how it works:
- Daily Rewards: LMR holders will be able to lock up their LMR tokens to receive newly minted MOR tokens on a daily basis. This is our way of ensuring that our community members have direct access to utility tokens to use within the Morpheus ecosystem.
- Weighted Staking Mechanism: To honor longer-term commitment to our community, we will be implementing a weighted stake mechanism. The longer you stake your LMR, the greater your receipt of newly minted MOR. This encourages sustained participation and aligns with our goal of fostering a strong and engaged community.
Summary
1. Lock Up LMR: By staking LMR tokens, community members become eligible to receive newly minted MOR tokens.
2. Minted MOR Tokens: MOR Tokens will be minted daily and claimable by LMR stakers, reflecting their contribution to the ecosystem.
3. Benefits of Long-Term Staking: The length of time for which LMR is staked will directly impact its staked weight ratio and the speed at which it receives newly minted MOR tokens.
Why Participate?
This staking program is designed to ensure that all of our community members have access to the utility benefits of our technological advancements. By participating, you are not only supporting the development of the Morpheus Node and decentralized data routing but also gaining direct access to the utility tokens that will power its Web3 infrastructure. We expect the staking program to be ready and fully functioning by the end of Q3 2024.
Moving Forward Together
The Lumerin community is committed to building a future where decentralized technologies unlock new possibilities for everyone. Your participation and support is crucial to this mission, and we are excited to continue on this journey with you into the AI frontier.
Thank you for being an integral part of our community. Together, we can achieve great things and create a decentralized future filled with innovation and shared success.
Stay tuned for more details on how to get started with the staking program, and let’s continue to build the future of decentralized data routing and Web3 infrastructure together.
Warm regards,
The Lumerin Team
