Let’s be honest. Despite all the talk of focusing on TA and tokenomics,we’re all still hoping to get in early on some microcap coin that moons and sees 5000% gains in days. Finding this coin early is hard enough but actually purchasing the coin comes with a whole new set of problems mostly caused by the lacklustre user experience (UX) of most crypto wallets and exchanges. The user base of crypto has seen a significant change. Its no longer only made up of computer “nerds” and cyberpunks well-versed in the fundamental components of the blockchain and the actual use of a wallet. This change has exposed long-ignored problems with the UX in crypto. With a severe lack of investment in this sector,both new and experienced users struggle with general and domain-specific UX issues that,aside from mere frustration and disengagement,may lead to dangerous errors and irreversible monetary losses. These errors are usually blamed on the inexperience of new users who assume that crypto works in a similar manner to mobile banking but time and again we’ve seen seasoned investors lose money, especially in microcap trading where the process of purchasing a coin usually involves navigating at least three different applications with the integrations between these applications being unreliable and restrictive. Lunar DeFi aims to streamline this tedious process of microcap cryptocurrency trading. They plan to achieve this using their Lunar DEX wallet,an application that aims to unify the entire process of purchase under a streamlined platform. According to founders Spaceman and Mr Moonshot (LOL),their aim is to bring a Robinhood-like user experience,one that’s intuitive and less time-consuming for seasoned investors and lowers the barrier of entry for newcomers.The Lunar DEX Wallet is but only one component of a larger DeFi ecosystem they are building. Others Include;
The Lunar Token (LNR):
At the core of the Lunar Ecosystem is the Lunar Token (LNR), a Binance Smart Chain coin which distributes 3% of LNR transactions and a percentage of Lunar DEX Wallet transactions to holders in passive earnings, allowing the community to benefit from the success of the ecosystem beyond the increase in value of their holdings.
In addition, 3% of LNR transactions are sent to a liquidity pool to facilitate trading and stabilize the token's value, and 5.5% of transactions are sent to a growth wallet that is used for marketing, development, and strategic buy-backs/burns of LNR. These buy-backs/burns are employed as a counteractive measure when prices or trading volumes are low to increase the value of the token and discourage early selling.
There are also anti-whale and anti-bot mechanisms built into the smart contract. A 1% maximum trade size and a 3% maximum wallet size limit has been implemented to prevent individuals who hold a substantial portion of the total supply from being able to significantly influence the price of the token. The team plans to implement and release an anti-bot mechanism on opening day aimed at clamping down on automated trading, while allowing human investors to trade freely.
Lunar App:
Lunar aims to streamline the entire process of crypto and NFT trading into a single, interconnected platform with a seamless user experience. Lunar also removes the blockchain barrier, allowing you to trade almost any token or NFT across different blockchains in a single click. Everything you need, from wallets to price charts and DEX for trading tokens will be instantly accessible in one place.
Lunar Crystal NFTs:
The Lunar Ecosystem will also include its very own NFT collection that distributes 0.5% of LNR transactions to holders. This is the first step in their eventual goal to bring the streamlined user experience of the Lunar DEX Wallet to the world of NFT investing.
The founders have noticed that the NFT space suffers from the same fragmentation that exists within the microcap cryptocurrency vertical. Which is why they plan on building a unified, frictionless NFT trading platform that fits neatly into the greater Lunar Ecosystem.
The Lunar team is in a solid position to make these visions a reality. Their team is composed of highly talented developers, marketers, designers, and serial entrepreneurs who have successfully grown companies and shipped software in past ventures.
The project also has promising traction already. Within 48 hours of publishing their website, their private sale completely sold out. On January 10th, Lunar was in the top 10 on CoinMarketCap’a top gainer’s list
As of the writing of this article, they have officially crossed 20,000 LNR holders and have been approved for their first exchange listings starting with Coinsbit on 14/01/2022 followed by a Bitmart listing on 19/01/2022. Their kucoin application has been approved with listing date TBA.
The importance of UX for user adoption cannot be overstated. I for one i’m glad that Lunar has taken on the challenge of breaking the blockchain barrier.
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Whitepaper: https://t.co/B9Bh6RZCfG
