The developers of Lunar (LNR) hope to make money from a DeFi ecosystem on the Binance Smart Chain blockchain. Lunar is a decentralized finance (DeFi) ecosystem they are building in the Binance Smart Chain.
In detail, the Lunar Ecosystem comprises the Lunar Token (LNR), the Lunar App, and Lunar Crystal NFTs. Lunar is a Binance Smart Chain (BSC) token that connects the Lunar ecosystem.
Lunar (LNR) is the utility token of the Lunar platform. They claim Lunar supports seamless cross-chain trading and distributes passive reflections to holders. Hence, Lunar is a reflection token. Theoretically, a reflection token earns passive income from transactions on a platform.
The Lunar Ecosystem
The Lunar App is a single interconnected platform that offers fast access to the Lunar Ecosystem. The developers claim the Lunar App “replaces 10 separate tools with one frictionless platform.”
The developers claim the Lunar App removes the blockchain barrier, allowing people to trade to almost any token or nonfungible token (NFT) across different blockhains in one click. For example, you could use Binance (BNB) to purchase an NFT from an Ethereum platform with Lunar.
The Lunar Crystals are collections of NFTs that offer special powers for Lunar ecosystem users. For example, Lunar Crystals generate passive LNR token reflections for holders.
Can Lunar Make Money from NFTs
There are eight different Lunar Crystals. Some of those crystals are rare and other others offer unique powers and LNR reflection amounts. Users can claim a percentage of Lunar NFT transactions in reflections.
Lunar Crystals users can claim special perks and discounts throughout the Lunar Ecosystem. Lunar Crystals can give NFT owners special abilities.
I think Lunar Crystals could make money because the NFT market is growing fast. DappRadar estimates the NFT market capitalization grew from $100 million in 2020 to $22 billion in 2021, The Guardian reports. Additionally, DappRadar estimates the market cap of the top 100 NFTs ever issued was $16.7 billion.
The Lunar App, LNR Token and the Lunar Crystal NFTs will serve as the foundation of the Lunar Ecosystem. Hence, I think they could add more features to the Lunar Ecosystem.
Notably the most valuable NFT was Beeple’s collage; The First 5000 Days, which sold for $69.3 million in March 2021, The Guardian notes. Another Beeple NFT Human One sold for $29 million.
Future Potentials for the Lunar Ecosystem
The Lunar website proposes some future uses for the Lunar Ecosystem and potential webs. Those future uses include:
Building a single interconnected platform for unified cryptocurrency and NFT trading. The hope is the platform will offer a seamless user experience.
Plexus. They claim Plexus will be a trading app that will allow users to trade almost any token or NFT across different blockchains.
They claim the Lunar Token (LNR) offers great Token Economics. Those economics include 3% native reflections paid to LNR holders. They also use 3% of the LNR to ensure liquidity, they will put the 3% in a liquidity pool they will lock for one year, 5% to drive growth and development, and 0.5% for NFT holder reflections.
They built Lunar with what they call anti-whale and anti-bot mechanics. To explain, whales are major speculators who could manipulate Lunar’s price by buying enormous amounts of LNR. Bots are robot traders that could manipulate Lunar by automatically buying enormous blocks of the token.
The Lunar Token is for sale on Pancake Swap.
What Value does the Lunar Token (LNR) have?
Mr. Market shows interest in the Lunar Token (LNR). For example, LNR was CoinMarketCap’s Ninth Most Trending cryptocurrency on 1 February 2022.
Conversely, CoinMarketCap named Lunar (LNR) the 3,116th largest cryptocurrency and gave it a Coin Price of $0.00000003203 on 3 February 2022. CoinMarketCap also gave Lunar a Market Capitalization of $29.312 million, a Fully Diluted Market of $32.348 million, and a 24-Hour Market Volume of $1.529 million on 3 February 2022. They based those numbers on a Self-Reported Circulating Supply of 915.195 billion LNR, a Maximum Supply of one trillion LNR, and a Total Supply of one trillion LNR.
In contrast, Coinbase gave Lunar a $0.00000003 and a $1.5 million Market Cap on 3February 2022. Hence, Lunar has some value.
I think Lunar (LNR) is an interesting that could make some money from cryptocurrency if the Lunar App and the Lunar Crystals work. However, there is no evidence either the Lunar App nor the Lunar Crystals work. If you are interested in a cryptocurrency that could make money from NFTs, Lunar is worth investigating.