The Lumerin Hashpower Marketplace

How does the marketplace work?

The Lumerin Hashpower Marketplace is a decentralized application that enables users to buy and sell crypto mining hashpower. By using Lumerin’s validation modules and smart contracts, the platform ensures security and enforces good behavior in every trade, as well as assuring the integrity of both the hashpower and the assets used to purchase it. The marketplace works like many other dApps, in which users have to connect using a web3 wallet such as MetaMask. Miners willing to sell their hashpower in the Lumerin Hashpower Marketplace will be able to create specific offers in the form of smart contracts. These contracts will require them to determine the conditions of the deal, namely:

1. How much hashpower they are offering.

2. For how long they will provide that hashpower.

3. How many LAI tokens they are asking for.

Buyers will be able to view these terms in advance. Should they accept, they will lock their LAI tokens into the contract as payment. The smart contract will act as an escrow service that will gradually deliver the funds and hashpower to the respective parties.

Once the deal is locked, the seller will start routing their hashpower to whatever mining pool the buyer indicates. The Lumerin nodes will facilitate the hashpower routing from the mining rigs themselves to the actual location of the pool, enforcing honest behavior. They will verify and prove hashpower delivery to ensure the contract terms are fulfilled and both the hashpower and funds are delivered accordingly.