Inaugural Lumia Governance Vote – GenesisNode Airdrop Proposal

As the team continues to break new ground in bridging physical assets with cutting-edge blockchain technology, Lumia is excited to unveil their latest initiative—an industry-first airdrop proposal designed to reward their community of early node operators and accelerate the growth of the ecosystem.

This airdrop proposal comes on the heels of Lumia’s highly successful HyperNodes sale, the largest RWA-centric node sale in Web3 history – and the announcement on the progress of their strategic funding round that included some of the top strategic VCs and investors in the industry.

Now, Lumia strives to continue rewarding their valuable community of early node operators for their long-term commitment and their role in the robust and decentralized Lumia network.

What Makes Lumia Unique in the Blockchain Space?

Before diving into the airdrop details, let’s highlight what sets Lumia apart from any other project in the industry. 

Lumia is the first-ever next-generation layer 2 engineered for the future of finance by leveraging its native liquidity layer, Lumia Stream, to merge the world of RWAs to DeFi. Lumia L2 provides the security, compliance, speed, optimization, and liquidity to create the ultimate framework to make this vision a reality.

Lumia differentiates itself by focusing on the “after” part of tokenization—what happens once these real world assets are on-chain. While many projects are primarily concerned with the tokenization process, Lumia goes a step further by focusing on integrating RWAs into DeFi by increasing their liquidity and accessibility. This strategy opens up unprecedented opportunities for both retail and institutional participants.

For retail, Lumia provides access to previously unattainable assets such as real estate, commodities, art, and more. For institutions, Lumia offers new revenue streams, increased efficiency in asset management, and of course, more liquidity for trading in Web3.

By making these assets accessible within a digital-first economy, Lumia is not just ushering in digital versions of RWAs; they’re actively transforming them into dynamic, tradable assets within the burgeoning blockchain industry.

The Power of HyperNodes: Decentralization and Beyond

The recent launch of HyperNodes is a pivotal component of Lumia’s decentralization strategy. HyperNodes represent a secure, robust, and scalable network that can handle the complexities associated with DeFi and RWAs. Node operators have a stake in the network, aligning incentives to ensure security, efficiency, and value across the board. This strategy has already been proven, as the recent node sale was an overwhelming success and exceeded all expectations.

Airdrop Details: Rewarding the Community’s Commitment as Early Node Operators in Lumia L2

In order to celebrate the success of the node sale and to reward their community’s commitment to its growth and development, Lumia proposes an airdrop to its newly formed decentralized network of node operators – GenesisNodes. The proposal consists of concluding the node sale and airdropping the remaining unsold nodes to early owners that pledge to delegate their nodes for 12 or 24 months. The airdrop will be determined via a veORN governance vote, ensuring ultimate transparency and enabling Lumia token holders to exercise their right and privilege to govern and contribute to the foundation’s decisions.

What qualifies users to receive the airdrop?

To qualify for the airdrop, node owners must opt to delegate to a Data Availability Committee (DAC) for a period of either 12 or 24 months. Users who opt for the 24-month period will have double the weight of the allocated nodes to the airdrop as opposed to users who choose a 12-month period.

Node owners also have the option not to delegate for these time periods; however, if that’s the case, they will not qualify for the GenesisNode airdrop. The participation in an extended delegation period is a testament to the node owners’ commitment to long-term growth and stability within the Lumia ecosystem, meaning participants who prioritize this goal will be rewarded.

How will users receive the airdrop?

Node owners will receive their GenesisNode airdrop locked, able to be used as node-owned liquidity for maximum capital efficiency, and will be viewable on their dashboard after the airdrop date, which will be determined at a later time.

How does governance and community involvement come into play?

To ensure that the Lumia community has the authoritative power in this process, Lumia will hold a governance vote regarding the GenesisNode airdrop. This vote will allow the community to exercise their rights in decision-making, reinforcing Lumia’s commitment to decentralized governance and rewarding the community.

When is the governance vote?

The governance vote will begin at 12pm UTC on Wednesday, the 28th of August 2024 and conclude at 12pm UTC on Wednesday, the 4th of September 2024. Following the conclusion of the vote, Lumia will announce the results and important dates if the proposal passes.

If the proposal does not pass, Lumia will continue the node sale as it is at the time of writing this.

What does this airdrop mean for Lumia?

This airdrop represents a unique opportunity for node buyers in return for significantly enhancing their participation in the Lumia ecosystem. 

Furthermore, the airdrop carefully mitigates community and token holder concerns about node reward distributions entering circulation. As node owners are likely to opt for the 12 or 24-month delegation period, this drastically reduces the immediate influx of rewards and fosters a more sustainable growth model for the Lumia token.

Now more than ever before, Lumia is well-positioned to achieve its goals and drive innovation for RWAs in the DeFi space. Lumia encourages its community to stay tuned for more updates and details to come.