Lunyr (LUN) Guide

Lunyr (LUN) is an Ethereum-based decentralized crowdsourced encyclopedia which rewards users with app tokens for peer-reviewing and contributing information. Their goal is to be the starting place on the net for finding trustworthy, accurate information. The long-term vision of Lunyr may be to create a knowledge base API that Artificial Intelligence, Virtual Reality, Augmented Reality and other software to produce next-generation decentralized applications.

The basic business model of Lunyr is to leverage a decentralized Wikipedia. They aim to do this by building an incentive-based knowledge application on top of the Ethereum blockchain.

LUN are utilized to place adverts on the platform. They work as part of the incentive system in order to drive contribution and peer review. LUN follows the ERC20 Token Standard.

Where To Buy Lunyr (LUN)Tokens?

We would recommend using an established exchange platform such as Binance. You can either choose to store them on the platform or withdraw them and keep them in a personal wallet. If you are looking to hold for LUN tokens longterm, then move them off the Binance platform. If you are new to Binance, carry on reading this article for a step-by-step guide on how to use this trading platform.

Where To Store LUN Tokens?

Within this guide, we will be making use of the easiest and most handy wallet for storing your Lunyr (LUN) coins. MyEtherWallet (which can store any coin ERC20 Tokens, including LUN. For added security, we would strongly suggest using a hardware wallet such as the Trezor or the Nano Ledger.

myetherwallet

Sign-Up To Binance

Enter your email and a strong password (that you won’t forget!) and then Click ‘Register’. You will be sent an email to confirm your email address. Click the link in the email. If you can’t see it, then check your spam folder.

You will be taken back to Binance as your email is confirmed. Press ‘Login’. On the login form, enter the email and password you just used to sign up, then press ‘Login’.

binace confirmed email

A pop-up will advise you to set up 2FA (two-factor authentication) on your account. We strongly recommend you set up 2-factor authorization (2FA) on your account.this second level of security makes it very unlikely they will be able to get into your Binance account.

Add Funds To Binance

Hover your mouse over ‘FUNDS’ on the top menu and click on ‘Deposits Withdrawals’. This screen displays any coins which you have stored on Binance – you will need to deposit some. I would suggest using Ethereum due to the lower sending fees. However, you can deposit other coins.

binance add funds

Type ‘Ethereum’ in the search box. This will narrow the wallets displayed to just a few- in those, find Ethereum. Press ‘Deposit’ You will be given an Ethereum (ETH) deposit address. Make sure you have the correct address. If you send a currency to the wrong address, it will be lost forever. (The image below show LTC – this is for example purposes only).

binance add funds part 2

 

Using The Exchange To Buy Lunyr (LUN) Coins

The exchange page on Binance might appear too much to handle to start with, but don’t worry, you only need to use a small part of it.

There are 2 methods for buying coins on Binance:

  1. A ‘Limit’ order, which enables you to manually set the price you want to buy LUN at.
  2. A ‘Market’ buy, which fills your order automatically at the best price available. The price may have spiked at that time, so be careful not to overpay. If you like the price then go ahead and use this method. Above the Buy LUN’ button, click the ‘Market’ option.

In the input box marked ‘Amount’ you now need to fill out what number of LUN you want to buy. It could be simpler to use the percentage buttons below the input box – for example, press 50% if you’d like to exchange 50% of your Ethereum for LUN.

Once you’re satisfied with the quantity, press the buy button. Your order will be filled immediately.

Withdrawing Your LUN Tokens

If you’re happy with it, you can just leave your coins on Binance and they would in all probability be safe. On the other hand, exchanges have been compromised in the past, and users have lost coins, therefore we do suggest you keep them in a personal wallet. (The image below shows LINK coin – this is for example purposes only). Ensure you have selected LUN.

  1. Press ‘Funds’ along the top menu, then ‘Deposits Withdrawals’. In the search box, type LUN. You will now see your new LUN in your LUN wallet.
  2. Click the ‘Withdrawal’ button.
  3. In the boxes that appear, complete the information:
  4. Label: Write ‘My wallet’
  5. Address: Put the wallet address that you copied from MyEtherWallet or any other ERC20 wallet that supports LUN.
  6. Amount: Press the ‘Max’ button to send all your LUN.

withdraw from binace

When you’re positive all information is accurate (check you’ve inputted the correct wallet address!), press ‘Submit’. If you’ve set up two-factor authentication, you will be asked for a code from your phone. Enter it and press ‘Submit’. You will be sent an email to confirm the withdrawal. Go to your email and click the link that’s been sent to you.

Lunyr Roadmap

Lunyr Roadmap

Lunyr Team & More Information:

Arnold Pham – Project Leader & Co-Founder

Andrew Tran – Business Development & Co-Founder

Benjamin Bamberger – Blockchain Architect

Christopher Smith – Blockchain Engineer

Steve Yu – Front End Development

Holly Hernandez – Marketing

Duc Pham – Security Advisor

Grant Fondo – Legal Counsel

Dr. Greg Colvin – Technical Advisor

Alex Leverington – Technical Advisor

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