Lum Network launches new crypto index for Cosmos ecosystem
Lum Network launches new crypto index for Cosmos ecosystem
Crypto

Lum Network launches new crypto index for Cosmos ecosystem

By Stefania Stimolo - 29 Sep 2022

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Lum Network launches DFract (DFR), a new DeFi product that is a crypto index designed for the Cosmos ecosystem so users can be exposed to a basket of tokens.

Lum Network and the DFract crypto index (DFR) for user exposure to Cosmos projects

The Web3 project dedicated to the Cosmos ecosystem, Lum Network, has launched a new Decentralized Finance (DeFi) product, DFract (DFR).

It is a new type of crypto index designed for multi-chain ecosystems, specifically Cosmos, that will allow users to be exposed to a basket of Cosmos tokens simultaneously. 

At Cøsmoverse, the main Cosmos event being held in Medellin, Colombia, Sarah-Diane Eck, founder of Lum Network, spoke on the matter, stating the following:

“The Cosmos ecosystem is a true gem composed by amazing builders. At Lum, we are hard working on its adoption with this new product with a simple interface and user experience.”

Indeed, Lum Network’s main goal is precisely to expand mass adoption of the Cosmos ecosystem through the DFract product that would simplify the choices of users who want to support different projects.

For its part, Cosmos has more than 250 applications built in its ecosystem and $61 billion in assets. 

DFract: how does the new protocol built on Cosmos work? 

The DFract protocol is the first Protocol Owned Liquidity (POL) built on Cosmos, with the goal of growing treasury (belonging to the protocol and DFR holders) so that all parties involved can benefit. 

For users, DFract is a product that makes it easy for them to choose which Cosmos project to support, giving them automatic exposure to Cosmos projects that present the best mix of innovation, community, and performance. 

In this way, user-investors will be able to rely on the new crypto index instead of monitoring hundreds of transactions on a monthly basis of Cosmos projects and, in a convenient and low-cost way, gain broader exposure to the Cosmos ecosystem with a single token

The first projects included in the launch of DFract are Cosmos Hub (ATOM), Osmosis (OSMO), Juno (JUNO), Evmos (EVMOS), Comdex (CMDX), Lum Network (LUM), Akash (AKT), Sentinel (DVPN), Crescent (CRE), Ki (XKI), and Stargaze (STARS)

The dedicated study by Kaiko

Recently, the Cosmos ecosystem has also been the subject of research and analysis by the specialized company Kaiko, which has reportedly stated that the Blockchain has all the features to ensure greater security, speed, scalability and cost-effectiveness on each transaction. 

Not only that, Kaiko analyzed the inter-blockchain interoperability offered by Cosmos, calling it the most secure and easy, able to eliminate bridges that are most vulnerable and easily hacked by hacker attacks. 

To solve inter-blockchain operability, Cosmos uses a multifaceted system based on its Software Development Kit (SDK), which provides a basis for developers to create their own test blockchains within the ecosystem. 

The SDK is used by the largest blockchains such as Binance Smart Chain, Terra and Crypto.com. 

Stefania Stimolo

Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.

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