Lumoz Gears Up To Launch Massive Airdrop Event On November 5
In Brief
Lumoz plans to airdrop 10% of the total supply on November 5, with specific rules to be disclosed tomorrow.
Modular compute layer and Rollup-as-a-Service (RaaS) platform, Lumoz announced plans to launch a large-scale airdrop event on November 5th. This airdrop will represent approximately 10% of the total supply, valued at around $30 million, with specific rules to be disclosed tomorrow.
As a leading modular hashing power layer and zero-knowledge (ZK) RaaS platform, Lumoz provides computational capabilities for Rollups, ZK-ML, and zero-knowledge proof (ZKP) verification through Proof-of-Work (PoW) mining mechanisms. In the first half of this year, the company completed its Pre-A and strategic financing rounds, securing a total of $14 million in funding from investors such as OKX Ventures, HashKey Capital, KuCoin Ventures, Polygon, and IDG Blockchain.
To date, Lumoz has successfully conducted three rounds of incentive testnets, engaging over 1.5 million users, more than 200 projects, 28,137 validators, and 145 PoW miners.
Lumoz Launches Testnet And Unveils Mining Event, Enabling Users To Mine MOZ
Last week, the platform announced the launch of its PoW testnet in preparation for the upcoming mainnet. On a technical level, the ZK-POW algorithm has been further optimized, resulting in approximately a 50% improvement in ZKP efficiency.
On the application side, the launch of the PoW testnet is expected to provide a more stable, secure, and cost-effective decentralized computational power network service for over 20 Layer 2 blockchains within the Lumoz ecosystem, including Merlin Chain, ZKFair, and Ultiverse.
In order to mark this launch, Lumoz announced a collaborative PoW mining event with the mining platform ZK.Work. Initially, miners will have the opportunity to mine MOZ, with future considerations for dual mining of MOZ and Aleo aimed at offering miners more flexible and diverse income opportunities. This event is currently underway and will run until December 5th, with rewards distributed based on the actual contributions of participating miners during the specified period.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
