LNR Migration Update
Trading is now live on the new LNR + Detailing some obstacles we've resolved through the process.
Today we are excited to announce that, as a major feature of the migration, the LNR token, NFTs, and ecosystem will undergo a significant renovation that will endow our mission with greater resources and expand opportunity for everyone in the Lunar community.
This update will also grant holders enhanced benefits and privileges, and greatly contribute to the resilience of the ecosystem.
We introduce Lunar DAO and the Lunar Foundation:
The community has always been the driving force of Lunar. We’re now putting the power and control of the ecosystem, and its assets, directly into the hands of holders under Lunar DAO.
Both LNR tokens and Lunar Genesis Crystal NFTs will be granted open membership and voting privileges in Lunar DAO. Lunar DAO Members will be empowered to submit and vote on proposals for improving, maintaining, and growing the greater Lunar ecosystem.
We intend to put forth proposals for a vote which, should they be approved by Lunar DAO Members, will place Lunar DAO in ownership and control of the following assets: LNR token contracts, NFT contracts and templates, NFT content and metadata, the Lunar Brand and IP, the Lunar domains, the Lunar DAO Community Treasury, all LNR reflections, and additional assets of Lunar.
To ensure the administration of Lunar DAO business is conducted according to the will of Lunar DAO Members, the Lunar Foundation will be established. The Lunar Foundation will facilitate community-led governance according to standards voted on by Lunar DAO Members, and implement the DAOs decisions, efficiently and expressly on their behalf.
The Lunar Foundation can be thought of as the execution layer of the Lunar community. While the DAO formulates proposals and forms consensus on decisions, the Foundation assesses whether those decisions are possible, permitted under Lunar DAO rules, and practicable to execute, and then implements the DAOs consensus decisions.
The Lunar Foundation will be managed by a Board of Directors to oversee the foundation, its operations, and administrators. The Foundation Directors exist to ensure the Lunar Foundation is operating in line with its sole mission and purpose - to implement the will of LNR token and Lunar Genesis Crystal NFT holders and administrate off-chain activities for Lunar DAO.
The initial board will consist of 5 individuals who were instrumental in building the thriving community we have today, and who have stepped up to lend their expertise in these vital initial months.
Each of these five individuals bring with them expertise across a wide range of important domains including software development, finance, global economics, marketing, project management, business, leadership, philanthropy, community administration, and more. Most importantly, these individuals have demonstrated on every single occasion that they hold the best interest of the Lunar community at heart.
Lunar DAO Members will have the opportunity to vote on proposals to change, improve, and advance the DAOs mission. The first of which will be a series of proposals to accept or reject the Proposed Lunar DAO Bylaws, the establishment of the Lunar Foundation, and other crucial details. Thereafter, additional proposals will be put forward by the founding Directors and community members, and we welcome Lunar DAO Members to contribute their proposals through the Lunar Improvement Proposal Protocol.
We are so proud of our work, the work of our 40,000+ community members, contributors, NFT collectors, moderators, admins, and all of you who have pushed us to improve. We know that the next chapter of our journey together will be a fruitful and ambitious one.
To the moon, and beyond; together the future is ours for the making.
-Spaceman, Mr. Moonshot, MasterJedi, and the Lunar Crew.
Lunar is advancing a more just and inclusive financial system for all. Lunar has many smart, driven and innovative community members, and it is imperative to leverage those resources most effectively to advance Lunar ecosystem technology and accelerate its adoption.
Lunar DAO is fortunate to have a multitude of exceptional ecosystem developers working on products such as a multi-chain portfolio management app and Plexus network.
Lunar DAO may authorize Members, Board Members, Administrators, or third-parties to direct the development, modification, and/or implementation of any technology operations to new or existing Lunar ecosystem products or IP. For example, Lunar DAO is empowered to create and issue grants, develop a bounties program, hire external contractors, or build an in-house team and incentive model.
Far from it. The current Lunar Crew intends to remain deeply involved in the Lunar Ecosystem as builders and DAO members. The team isn't leaving, in fact, it's growing by 40,000+ potential builders.
The Lunar community is 40,000+ strong and made up of skilled people from all areas of industry, technology, finance, and even rocket science. The LNR pre-migration token model is unsustainable, restrictive, and underutilizes Lunar’s largest resource… the strength of our community.
Lunar’s strength is greater when the community builds together. Placing the ecosystem in the hands of Lunar community members encourages grassroots development by a multitude of innovators, each with a stake in its success. It multiplies opportunities across the ecosystem from a single point of acceleration, to over 40,000, and fuels the launch of a much larger rocket.
Holding LNR tokens and/or Lunar Genesis Crystal NFTs makes you a Lunar DAO Member, with rights and voting privileges. Lunar DAO owns the Lunar ecosystem and its many assets.
The community is the driving force behind the ecosystem, but the current structure has made many members feel like back seat drivers. Now, if the community wants something to happen, they can make it happen.
By making the ecosystem far more decentralized, it becomes less reliant on any one individual or entity. If any of the current admins are forced to jettison their pod into deep space while en route to the moon base to be lost for all eternity, the ecosystem can, after a respectful period of mourning, continue on for the benefit of all.
Each component of the ecosystem now has the ability to specialize in its particular domain, fundraise separately, and flourish on its own, rather than everything occurring within a single entity. In addition, it opens the ecosystem to 1.7M+ people who enjoy participating in DAOs.
Yes. This isn't something we're doing just for the heck of it. The pre-migration structure has become unsustainable and severely limits the ecosystem’s resilience, access to resources, speed of development, and ability to grow due to a multitude of factors and constraints outside of our control.
We’ve spent months strategizing with our attorney and numerous advisors; the response has been unanimous. The new structure is by far the best path forward for the success of the ecosystem. After running every permutation of available options, all viable paths lead here.
The great news is that once the transition is complete, the Lunar ecosystem will be set up in the best structure possible to grow and achieve its mission.
The law firm hired to help architect this system specializes in this exact matter. The Lunar Crew and Directors have worked closely with them to create a system tuned to the strengths of our community, is regulatorily sound, and provides strong protection against malicious actors.
The great news is that if the community ends up not liking something about the structure, they can always submit a proposal and vote to change it.
Many major protocols and ecosystems have adopted a similar structure, and for great reason.
Some notable examples include: Uniswap, PancakeSwap, ApeCoin, ENS, Compound, AAVE, DYDX, Kyber Network, and more.
This structure allows us to develop much faster. By allowing different components of the ecosystem to operate and build independently, Lunar DAO creates opportunity for concurrent development of multiple technologies (think sharding, but for ecosystem development).
Under the pre-migration structure, the only factor that would increase the development speed of the ecosystem was more developers. To accomplish this, resources would be required that are inaccessible under the pre-migration structure.
The analyses conducted show that Lunar DAO should result in medium and long-term growth in the overall development speed of the Lunar ecosystem. The analysis also predicts a high probability of an increase in community engagement in the short, medium, and long-term as a result of participation effects of governance. Strong and well-implemented community engagement activities are shown to drastically reduce time to delivery for projects and increase the quality and adoption of such projects.
This is for the community to decide! The DAO can decide to build whatever projects it chooses, and in any order it chooses. The Lunar Foundation and the entities it works with will be there to assess timelines, costs, potential legal implications, and other considerations to help inform the DAO’s decisions, and implement its will.
LNR Tokens: 1 LNR token equals 1 vote.
Lunar Crystal NFTs: Each Lunar Genesis Crystal NFT will hold a number of votes equivalent to its base points multiplied by 20. For example, a Lunite will be worth 2,000 votes, and an Omnicite will be worth 16,000 votes.
The full process, criteria, and requirements for submitting a LIP will be detailed in the forthcoming Proposed Lunar DAO Bylaws and Lunar Improvement Proposal Protocol (LIPP).
Core features include:
There's a massive amount in store over the coming weeks, but to let everyone know what they can expect, here's some of what's happening very soon:
We recognize that this may seem like a large shift. If there are community members who don’t quite understand the full picture yet, we ask that they view this with an open mind and ask questions so we can help them form an understanding of why this is the best path forward for all.
This is a historic moment for each and every member of the Lunar community that will be instrumental in our collective success. We hope everyone is excited to embark on this amazing journey, together.
To infinity and beyond,
- The Lunar Crew