🪸LUM Token
Last updated
Last updated
LUM ($LUM) token is the reward token of MagicSea. It is used to provide a high incentive to customers to provide liquidity to the DEX.
The LUM Token was launched for the first time via a Fairlaunch liquidity event. This means that no tokens have been previously minted and distributed to investors/community via ICOs, private sales, or pre-airdrops. This is very crucial because the more tokens that have been distributed in advance, the higher the selling pressure can be on the token after the launch.
A constant of 4 LUM can be maximal minted and distributed with each second. The LUM token has no hard or soft cap. The minting rate will be reduced at the beginning of the DEX to reduce inflation impact. In addition, some LUM are minted into the DEV wallet to cover the costs of the protocol infrastructure.
The LUM token is the reward token of the MagicSea DEX. Through participation, such as providing liquidity, the LUM token can be earned and traded on the market. The demand for LUM is additionally spurred by the fact that particularly high rewards can be expected for staking and farming with LUM. Moreover, LUM is crucial for anyone who wants to obtain Magic LUM via the Booster. Accumulating LUM and refining it in the Booster is therefore the best strategy to get Magic LUM and thus participate in the long-term success of MagicSea.
