Paris, France, 28th September, 2022, Chainwire
Lum Network, an innovative project aiming to bring mass adoption in web3 and in the Cosmos ecosystem, is launching a new DeFi (Decentralized Finance) product built on top of its blockchain for the Cosmos ecosystem: DFract $DFR
DFract is a new kind of crypto index designed for multichain ecosystems. It allows its users to be exposed to a basket of tokens that represent the Cosmos Ecosystem.
With more than 250 apps built in the Cosmos ecosystem and +$61 billion in assets (1), Cosmos is a fast growing blockchain ecosystem.
But, it’s not an easy task for users to make the best decisions regarding the projects they want to support. Managing multiple projects on the Cosmos ecosystem requires monitoring hundreds of operations on a monthly basis, discouraging retail investors.
With DFract, you are automatically exposed to the Cosmos projects that have the best mix of innovation, community and performance.
“The Cosmos ecosystem is a true gem composed by amazing builders. At Lum, we are hard working on its adoption with this new product with a simple interface and user experience” said today the Lum Network founder Sarah-Diane Eck at Cøsmoverse, the main Cosmos event taking place in Medellin, Colombia.
How does DFract work? DFract protocol is the first Protocol Owned Liquidity (POL) built on Cosmos. It means that the treasury belongs to the protocol and the holders of the protocol’s tokens. The role of the POL is to grow the treasury so that every stakeholder can benefit from it.
In addition to the diversification, users earn infrastructure revenue from the protocol. On top of this exposure, staking $DFR also gives users a share of the revenues made by the protocol and also make them eligible for Cosmos airdrops.
It is a low cost and convenient way for an investor to gain broader exposure to the Cosmos ecosystem in a single token.
The first projects included in DFract launch are Cosmos Hub ($ATOM), Osmosis ($OSMO), Juno ($JUNO), Evmos ($EVMOS), Comdex ($CMDX), Lum Network ($LUM), Akash ($AKT), Sentinel ($DVPN), Crescent ($CRE), Ki ($XKI), Stargaze ($STARS).
More will come as the project grows.
Embracing the philosophy of the Cosmos ecosystem, DFract will provide a network of nodes and will work for decentralization in every chain it will invest in. DFract will provide IBC relaying services to participate in the well operating system of Cosmos.
DFract is already supported by some of the best actors of the ecosystem such as the Interchain Foundation and the validator Imperator that operates 36 networks, has +48M total staked assets and more than 90 000 customers worldwide (2)
About Lum Network
Lum Network is building applications for web3 and Cosmos mass adoption on top of its blockchain based on Tendermint and the Cosmos SDK. Lum uses the Inter-Blockchain Communication (IBC) protocol and is actively collaborating with the Cosmos ecosystem as a member of the Interchain Foundation program.
Lum, in partnership with Skeepers, has built an on-chain review system that enables businesses to provide trusted reviews by timestamping them and immutably storing them on the Lum Network blockchain: It is the first decentralized protocol for businesses to build authentic trust with their customers.
Follow Lum Network:
- Tal Dotan
- [email protected]