LumiShare, a blockchain-based digital asset administration ecosystem, beforehand generally known as IllumiShare, raises $3.2 million led by the Abu Dhabi royal household within the early phases of its Abu-Dhabi-licensed $SRG token presale.
Between 2015 and 2022, a Financial institution of Worldwide Settlements (BIS) research estimated that 73% to 81% doubtless misplaced cash on their investments in cryptocurrencies. For retail merchants, investing in crypto has grow to be tough as they’re pressured to commerce on information, missing any inside data. In an ecosystem the place a tweet can change every part, buyers are craving for a hedge towards market volatility.
Designed to supply shoppers a dependable inflation hedge and unprecedented monetary safety, LumiShare’s $SRG token just isn’t a stablecoin as it’s backed by three uncorrelated property: gold, a money restoration fund, and know-how.
Gold – LumiShare retains a bodily gold reserve in Abu-Dhabi equal to a share of the all-time excessive Market Cap.
Money – In the meantime, a money reserve is constructed from the margins between the gold market value and the gold value Lishare pays, which will probably be used routinely for aggressive advertising.
Tech – An auto burn mechanism, assets-backed NFT market, staking mechanism, and fee gateway act because the third insurance coverage mechanism.
“The FTX crash confirmed us that failing tasks and an absence of transparency and honesty within the crypto ecosystem actually broke the belief buyers had in even probably the most profitable firms,” says Ben Sharon, Co-Founder and CEO of LumiShare. “We should return to crypto’s unique objective, to create a clear financial system, whereas providing buyers the safety they want.”
“We’re proud to help the LumiShare undertaking which is aimed to grant customers a protected haven from the insurmountable quantity of scams plaguing the market,” says His Highness Sheikh Mohamed Bin Ahmed Bin Hamdan Al Nahyan from the Abu Dhabi Royal Household. “LumiShare’s transparency grants buyers peace of thoughts whereas their property are being backed by three pillars that safeguard their investments from the rollercoaster of the cryptocurrency market.”