BitWell AMA | Introducing LunrCrush and Its Lunr Token: The Next Generation Crypto Social Intelligence Platform
On April 20th, Joe Vezzani, the CEO+Co-Founder of LunarCrush visited the BitWell community and brought a wonderful sharing with the theme “LunrCrush and Its Lunr Token: The Next Generation Crypto Social Intelligence Platform”.
The following is a review of the full content of this community sharing!
1. Could you please give us a brief introduction of the LunarCrush and Lunr Token?
Absolutely! LunarCrush started in 2018 and has been one of the marquee websites and apps used by millions in the web3 space looking to make better investment decisions. Each day we pull in the world’s crypto content across social media and turn it into bite-sized digestible insights. We call it Social Intelligence for Crypto.
In 2021 we released Lunr Token. Lunr Token is a utility token powering the LunarCrush protocol and ecosystem.
And we are excited to continue building more amazing features and vital tools for the crypto space!
2. What is the significance of the Lunr Token for LunarCrush? How has it had a positive effect on the development of LunarCrush?
Glad you asked. Lunr Token powers everything LunarCrush. As web3 continues to grow, consumers are demanding a better way to interact with the products or services they engage with. Lunr Token is our step into web3 by giving our community a new way to engage.
WIth the launch of Lunr Token, we have seen a major increase in our community across sign-ups, holders, all social channels, visitors, and page views. LunarCrush moved from a top 25,000 web destination to a top 5,000 in 90 days.
LunarCrush is now one of the fastest growing projects with thousands on new sign-ups a day!
3. Could you now give us an insight into the tokenomics of Lunr Token?
Yes of course.
2 days ago we released a new version, v2, of the Lunr Token Whitepaper. Some things have stayed the same like the majority of Lunr Token will be earned by the community. The updates we’ve made are primarily around how the community can earn $Lunr.
Before, the majority of the ecosystem was released each day via a points system for one’s interaction on LunarCrush.
There is still an allocation for community rewards, albeit much smaller now.
The reason is we have also just launched LunrFi. We now have staking contracts where users can earn APR for staking their Lunr.
Current contracts are 1-yr, 6-mo, 3-mo, and 1-mo. With APRs from 25% — 8%.
People can check out the new whitepaper here: https://lunarcrush.com/lunr
4. Could you elaborate on the killer features of Lunr Token and how it can benefit LunarCrush users?
By holding Lunr, community members get access to more features on LunarCrush.
We have levels you can achieve, with levels 2–4 getting access to increase feature sets.
30 Lunr puts you at Level 2 gets you access to weekly Lunr bonus rewards, up to one year of data, more detail on Galaxy Score™ and AltRank™, and unlimited in-app alerts.
100 Lunr puts you at Level 3 gets you access to higher weekly Lunr bonus rewards, up to two years of data, and access to alternate alert methods such as email, sms, and telegram.
500 Lunr puts you at Level 4 gets you access to Opinions, Insights, and all available data and timelines.
Based on your level you can earn additional Lunr by simply doing research and providing opinions on LunarCrush.
This is a paradigm shift away from the way traditional models have worked.
If you think about utilizing any product or service, over time you pay for them, and you never get to accrue any value to yourself.
It all goes to the company you are interacting with.
By solving the double-spend problem with bitcon in 2010, the collective now has the ability to push fee sets to almost zero.
Which has given birth to this financial renaissance we are seeing in web3. And we feel it’s our obligation at LunarCrush to continue to push these innovations forward!
5. Does LunarCrush have any exciting initiatives that are planned for Lunr Token in the pipeline?
We have been in the web3 space for many years now and if there is one thing we do well at LunarCrush and Lunr Token, its deliver innovation and ship product faster than anyone.
We continue to have major releases and initiatives happening constantly. All I can say is to keep an eye out over the next couple weeks as we’ll have announcements coming from the https://twitter.com/LunrToken handle on Twitter.
Community Live Q&A
1. The idea of LunarCrush seems really interesting to me, but I have a question: What are the data sources of LunarCrush? Where do they get all the information from? Do they use only Twitter to perform the analysis of all the social metrics of the best cryptos?
At LunarCrush, we are scouring the web for crypto-specific content.
We are looking across Twitter yes, which has a large subset of the crypto-specific content. However we are also looking at places like Reddit, YouTube, and we have the largest source of news aggregation research in the industry as well.
That being said, each day we are capturing over 2 million crypto mentions, and 4–5 billion engagements across the web of crypto content.
This is all then distilled down using machine learning to try and tease out the insights that matter to you the most.
2. Can we enable notifications for coin news in our area of interest in LunarCrush? Dose your platform only offer accuracy service for coins? Will you be working in different fields in the future?
LunarCrush does have Alerts!
You can set an Alert across any of our 25+ metrics to help notify you when the insight you are looking for has triggered.
This allows for a plethora of optionality when trying to tease out value and identify trading and investing strategies.
LunarCrush is the only retail service in the world where you can set an Alert that comes to you via Telegram, Twitter, SMS, or Email about over 3500 different cryptocurrencies on whether social media is reacting to something on a project.
This is all in real-time, it’s quite impressive.
The second part to that question was about “different fields” which I can only assume would be the addition of assets outside of web3.
The short answer is yes. However in software it’s all about roadmap and timing. Right now we are focused on the crypto space and that includes an upcoming section where we will be tracking the communities of NFT projects.
The industry is in desperate need of LunarCrush for NFTs and so we are going to give it to them!
3. Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?
LunarCrush launched in 2018 and the core team has been involved in the crypto space in 2013.
We literally developed LunarCrush to address this problem and help protect the average investor from things like rugpulls.
Our mission has always been to create transparency in the industry and to cheerlead the industry to continue building and focus on innovation.
I know a lot of people are hearing about LunarCrush for the first time because of the launch of Lunr Token. However the truth is we have been one of the mainstays of the industry before many people have even heard about cryptocurrency.
4. Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieve the goals set. What is your strategy to attract new users and Investor to your platform and keep them long term?
The nice part about LunarCrush and Lunr Token is that our community is already established and the marketing is built in!
Everyday we are producing insights and research based on the analytics we see from LunarCrush. We then package these up and publish them across our social media channels. We have one of the most followed Twitter handles in crypto for both LunarCrush and Lunr Token.
Since LunarCrush has never paid for growth. Our audience trusts our insights and as we track all the of the influencers/KOLs in the space as well. They also use LunarCrush data and publish it to their followings.
It’s a win/win and has enabled us to grow to one of the largest projects in crypto 100% organically.
5. Is this your project only for elite investors, how about others with small funds, is it open to everyone?
Our project is for everyone.
There is and will always be a free tier on LunarCrush that provides incredible value to the community.
We designed and developed LunarCrush to even the playing field and to bring tools that traditionally were only available to large institions and made them avaialble for everyone. This is the ethos of web3 and DLT and we plan to stand by it.
I want to say than you to the Bitwell team as well! Your coordination and help with $Lunr has been first class.
Everyone make sure you get your account started there and the team at LunarCrush and $Lunr will continue to help create the community here at BitWell!
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