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Our favorite social media cruncher, LunarCrush, is back. Tuesday, April 12th 2022 sees the launch of LunrFi. This new suite of DeFi products starts out with staking. However, more exciting options will follow soon.
With LunrFi, LUNR holders can now stake their LUNR. As a result, this opens the door to new avenues of passive income. We will show you what else you can do with the brand new LunrFi.
Source: LunarCrush
What Is LunrFi?
LunrFi is a new suite for DeFi products, brought to you by the LunarCrush team. We know them as the best social analytics site in crypto. They collect and provide information about various projects. In turn, this helps you to make better investment decisions in crypto projects. Currently, they collect 1.79 million posts each day. Furthermore, they track no less than 3,649 coins. This resulted in 2.55 million users.
As a social media analytics tool, it’s the most popular. Projects that rank in their tools, get mentions on various social media channels. For example, you can find the top 5 for Galaxy Score or Alt Rank back on Twitter. This shows that LunarCrush is delivering the goods. It is a social ranking tool to take seriously.
Now it’s time for the LunarCrush team to present you LunrFi. This will perfectly integrate with other LunarCrush products. In addition, you will get more out of your LUNR tokens. So, without further ado, let’s take a look at what LunrFi offers.
Staking With LunrFi
At the launch of LunrFi, only the staking option is available. However, the team will add more products soon like:
- airdrops
- liquidity pools
- community governance
- and more to follow.
Details coming soon.
Back to staking, though. You can now natively stake LUNR and earn up to 25% APR in passive yield. Until now, earning passive income was only possible by actively taking part on the site. You had to provide opinions for Lunar Opinions™ community sentiment. This has changed by adding staking options. Check our previous article on Lunar Opinions.
The longer the staking period, the higher yield you receive. You can choose between four different staking periods.
Staking periods and Annual ROI By Term
Each staking period gives a different yield.
- 1 month: Earn up to 8%
- 3 months: Earn up to 12%
- 6 months: Earn up to 19%
- 12 months: Earn up to 25%
Source: LunrFi by LunarCrush
Just be aware of a couple of restrictions when staking your LUNR. For instance, you can’t claim any earnings until the contract finishes. Although it is possible to end a staking period early, this results in losing all rewards. Moreover, you can start various contracts. However, they are considered a new contract each time. To clarify, each new contract will start as a new staking period. Let’s look at a sample to explain this.
Sally has already locked up 500 LUNR tokens for a 6-month period. Three months into the contract, she decides to stake another 1000 LUNR. She wants to use the same 6 month staking period again. Rather than adding the 1000 LUNR to the existing contract of 500 LUNR, a new contract starts. As a result, she now has two separate contracts. One contract with 500 LUNR that ends in 3 months. In addition, there’s her new contract with 1,000 LUNR, which ends in 6 months.
The ZilPay wallet
Keep in mind that when using LunrFi products, you will need a ZilPay wallet. Connect the wallet to your LunarCrush account. This way, any LUNR used whilst working with LunrFi, will also count towards other products. For instance, when you take part in Level Access.
LunrFi Integration With Other LunarCrush Products
The LunarCrush team built LunrFi with the community in mind. They brought many ideas forward. These became part of LunrFi, wherever workable.
As a result, other existing products integrate seamlessly. For example, Profile Strength or Level Access. But also the weekly Lunr distribution system fits like a glove. This makes your user experience as smooth as possible.
Level Access
You need to keep your ZilPay wallet connected to a LunarCrush account. As long as you do this, your staked LUNR counts towards your Level Access.
In case you already hold LUNR for Level Access, you can transfer it from your LunarCrush wallet. You can do this natively on the website or app. Transfer your LUNR straight to your ZilPay wallet.
The UI is well-thought-out and designed. As a result, the UI makes staking an easy experience. More background information on Level Access 4 is in this Medium article.
Source: LunrFi by LunarCrush
Conclusion
Adding LunrFi is a great addition to the LunarCrush ecosystem. The platform will become even more valuable for you as a user, with the added staking options. With even more passive income opportunities on the horizon. LunarCrush rewards its community with this valuable new LunrFi platform.