Apart from solving a very real problem that is the accuracy of information in one place for the populace to use, Lunyr has the potential to create its own economy and community. Now this may sound a little far-fetched, but please, bear with me on this.
You see, due to the very nature of the platform, users are incentivised to positively contribute to the platform on every level, from the information that is added to the information that is curated.
Because the Lunyr project is being built on Ethereum, users and curators can be financially rewarded for their contributions, which is something that has never been possible before with existing platforms. And additionally, to the financial rewards for adding content and curating the content, users also receive Honour Points. These points are not transferable and act as Rep points, or otherwise known as Trust points, much like we see on Ebay, I’ll explain this in little more depth further on.
So when information has been curated, the users can see the reputation of the curator that curated the information, further reinforcing the trust that the information is in fact correct.
To ensure the accuracy of the information listed on the Lunyr Platform, every piece of information submitted must undergo a Peer Review.
Peer reviewers are also encouraged to become contributors to the platform to help ensure that the individuals doing so are economically aligned with the mission of Project Lunyr. So not only will the contributors be incentivised financially to keep a high standard, the idea is that the community will be able to quickly identify any malicious contributors who aim to add false information.
Its also worth noting that each submission has a small cost attached to it and so the incentive for the network to be spammed by anyone is pretty much zero. Spammers will not spam if there is any cost involved. Quite a solid way to prevent this kind of thing taking place.
Lunyr is built to benefit the people who contribute to the Lunyr Project and the beauty is that anyone can contribute and earn Lunyr Tokens (LUN) for their efforts through earning CBN tokens.
Contributors and Curators are rewarded with two types of tokens, (CBN) Tokens, which are rewarded for an individuals contribution and are transferable to LUN Tokens through a LUN pool which will be dispersed depending on how much you contributed in a 2 week period and your pay-out will be issued as a percentage of that.
The other Token issued, (HNR) is a token that is rewarded along with the(CBN) token but are Reputation points only and do not have any financial value. These points not only show other users how established and trusted you are, but also give you a say in how the platform moves forward. In the words of one of the Co-founders, Arnold Phan;
‘HNR points let you propose things like creating markets that encourage users to review content again and submit changes through the peer review system’.
So as you can see, the entire ecosystem is built around creating a strong community of individuals incentivised to continually improve and polish the Lunyr Platform and it's content.
Lunyr is a platform for accurate information which is a utility everyone has a functional use for, just as people have a strong use for Wikipedia.
Now you might be asking where the token LUN will get its value from, other than the Lunyr platforms growing usage?
The answer to this question is Advertising. In the words of the Lunyr Team;
‘The strategic component a new economy with the Lunyr space, both for curators and advertisers, google of decentralised information’.
As it becomes apparent that this system is far superior that that of Wikipedia, it will begin to see more people using it in place of Wikipedia and other such sites.
As more users start using Lunyr, advertisers buying advertising space will drive the price of the LUN Tokens up. LUN Tokens will be used by advertisers as LUN will be the currency of the platform and so will be in demand by advertisers who see Lunyr as good place to place their advertisements. As Lunyr becomes more known and used, the demand for advertising will grow, and in doing so, increase the value of the LUN tokens.
And in line with the LUN tokens increasing in value, more and more users will want to add content and curate content to receive the currency of the platform, LUN.
LUN Tokens will aso be tradable on Exchanges.
This is how I see the Lunyr Economy becoming established and in doing so will attract developers to create additional dApps for the platform through the API to further enhance the information there in the form of Augmented Reality and Virtual Reality.
The possibilities really are endless and I for one am very excited to see this project develop and grow. The full list of use cases for sucha platform have yet to be discovered but to begin with, the Roadmap with the current list of objectives is enough to make Wikipedia look like something from the last century, kind of like how we currently view cassette tapes. Lunyr has the potential to completely change the Information Highway as we know it and grow using emerging technology as it progresses into the Modern Day Encyclopedia.
Click the link below to read an article that further explains what the Lunyr Project is trying to achieve;
PART 1: The Ethereum Based 'Lunyr' Project ICO - Explained
https://steemit.com/steemit/@deanero/the-lunyr-project-ico-explained
PART 3: The Lunyr Project - ICO & Roadmap
https://steemit.com/steemit/@deanero/the-lunyr-project-ico-and-roadmap-part-3
To find out more about the Lunyr Project and how you can take part in the Token Sale, you can find all of the details at the link below;
