Moonlight, which is a decentralized workforce platform built on the NEO network, has released its whitepaper. The whitepaper outlines Moonlight’s objectives, the problems Moonlight intends to solve, and how its workforce platform works.
You can access the white paper here –
The whitepaper also introduces Moonlight’s divisible, high supply NEP-5.1 system token named Lux. Details about the token can be found under Section 6, pages 27 to 31 of the whitepaper. These pages cover the Lux token’s purpose, allocation, a contract overview, and its tiered vesting mechanism for pre-sale and public sale tokens.
What is the Lux token?
Through the use of Lux tokens, Moonlight intends to define GAS as the primary currency for the NEO platform.
The Lux token will use a similar multi-token UTXO operating mechanic to NEO and Neon Exchange (NEX). Addresses holding Lux will be periodically awarded an equivalent amount of GAS to their Lux holdings. The amount awarded will be proportional to the fees collected by the Moonlight project. Also, the Lux token will have utility within the Moonlight platform via reduced system fees for resolvers and issuers.
Lux Token Allocation
Moonlight will mint a total of 1 Billion Lux tokens as part of its contract deployment. No additional tokens will be minted in future. There will be no bonuses provided during the pre-sale event to prevent exploitative investment attempts.
Tokens will be exchanged at the following rates during the token sale:
- NEO – 2000 Lux/NEO
- GAS – 800 Lux/GAS
- ETH – 15000 Lux/ ETH
Allocation of the tokens will be as follows:
- Immediate project growth – 30%
- Pre-sale – 25%
- Public token sale – 25%
- Vested project growth – 20%
Lux Token Distribution Mechanism
The Lux token will be NEP-5.1 compliant and will use the NEX ICO Template to guarantee support for the Neon wallet, the Neon Exchange project, and other needs supported by the network.
The presale event will accept NEO, GAS, and ETH for the purchase of Lux tokens at market exchange rates. The public token sale will accept both NEO and GAS.
During the Lux pre-sale and public-sale, there will a maximum purchasable amount to guarantee token entropy in the ecosystem.
Lux Token Vesting
Tokens will be distributed to the community using a tiered vesting system. This system is designed to dissuade exploitative investment attempts during the token sale. These exploitative attempts cause dramatic fluctuations in token value, and are unhealthy for the ecosystem.
As part of the vesting process, there will be two types of tokens in the system: pre-sale and public sale tokens.
Below is the token sale quantity and vesting schedule.
- 0 – 250,000 Lux: Immediately
- 250,001 – 5,000,000 Lux: Token sale end + 3 months
- 5,000,001 + Lux: Token sale end + 6 months
Moonlight APAC Tour
Moonlight is running an APAC tour across Asia and Australia from the 3rd of March to the 16th of March.
- Meetup – 3rd of March in Singapore
- Meetup – the 5th of March in Tokyo
- Meetup – the 11th of March in Taipei
- Meetup – the 14th of March in Melbourne
- Meetup – the 16th of March in Sydney
Further information regarding Moonlight’s project architecture, project status, and token sale will be posted to Moonlight’s website and social media channels.
Moonlight will also be featured on the next episode of the NEO News Today podcast where the project functionality will be discussed in detail.
By Matthew North
About The Author: Matthew North
Matthew North is a freelance writer and journalist who resides in East Asia. He spends his time writing and learning about financial technologies like the Blockchain and digital currencies. You can follow him on twitter @fintech_matthew.
More posts by Matthew North