Alluma.io LUMA Token: Access and Education for the People

Alluma.io LUMA Token: Access and Education for the People
on November 12, 2018

Alluma is the first institutional grade cryptocurrency exchange dedicated to the Asian emerging markets. Alluma was built with the vision allowing anyone to join the crypto community while still catering to the more sophisticated trader.

Alluma’s ecosystem is built to provide for a liquid cryptocurrency exchange addressing various user pain points while being supported by a six-layered security architecture, robust localised KYC & AML policies based  on financial industry international best practices, and a multi-layered corporate governance structure.

Alluma envisions to be the first institutional grade cryptocurrency exchange dedicated to emerging markets in Asia. Built on top of a six-layered security architecture and to be operated within a compliance framework developed by an internationally renowned anti-money laundering team, the Alluma platform offers a secure & compliant platform designed to be easy to use for the new retail trader with personalized customer service, while offering powerful tools and deep liquidity for the advanced corporate professional. Our vision is to become a fully licensed exchange providing access and education to the next billion cryptocurrency users across the Asian emerging markets.

Alluma History

Alluma was incorporated in June 2017 after identifying significant gaps in the existing platforms across Asian emerging markets. Upon formation, several key technology, compliance and security protocols were established to integrate into one platform to offer a best-in-class localized solution.

The development and management of Alluma is driven by an executive team and advisory group with deep international experience and success from a wide range of leading banks, technology, blockchain, investment and consulting companies. This includes people with experience at entities including JP Morgan, Deutsche Bank, RBC, Credit Suisse, American Express, Ericsson, Deloitte, GLG, Quoine, Google, Bain & Company, Civic, Bluzelle and Kenetic.

Limitations of Present Day Currency Exchanges

As interest and participation in the crypto markets have sharply increased, so have the frustrations with the current exchanges available in the emerging Asian market today.

After listening to the experience of customers using existing platforms across these markets, we identified nine recurring customer pain points across three key categories that have created barriers to the adoption and growth of cryptocurrencies.

Alluma Exchange

We’ve spent over nine months carefully designing and developing a unique user interface and experience that will provide a different experience versus any other existing exchange across the Asian emerging markets.
After going through our streamlined KYC process and depositing funds through the most convenient payment gateway, Alluma users will have access to powerful features such as portfolio tracking functions, real-time market data, and instant buy/sell between the major cryptocurrencies.

Priority for Mobile

With 70% of users forecasted to access our platform via mobile devices 13 , our product strategy will focus on delivering an intuitive and easy to navigate mobile experience. Our goal is to make it simple to buy, sell and manage your portfolio on the go.

Alluma Trading Platform

For the more experienced traders, we offer a best-in-class advanced trading platform where subject to regulatory requirements, users can enter limit, stop, trailing stop, and other more advanced order types.

This interface allows a user to see the order book, view the chart, use a large number of market indicators for technical analysis and download trade reports. Users can also access APIs to build apps that connect directly to the exchange.

Six Layers of Security

We’ve built our ecosystem architecture with a security-first approach, combining robust security policies with the latest security methods. We follow best practices and took lessons learned from other exchanges to build Alluma’s core back-end platform.

The resulting six-layered security architecture includes:

  1. Best-in-class protection against distributed denial-of-service attacks (DDOS) to prevent any possible service outages
  2. Two-factor authentication (2FA) and where appropriate, multi-signature arrangements are used for every critical action
  3. Our Core exchange engine hidden in a private network, making it inaccessible to all external parties
  4. Storing 96-99% of funds in cold storage to protect against hot wallet attacks
  5. Biometrics used to access the server facilities preventing unauthorized physical access
  6. Multi-level hardware security including tier 3 sites, self-hosted, wholly-owned servers

 

Alluma Order Management System (OMS)

Our matching engine rivals current leading digital asset exchanges with the capability of executing over 1,000,000 transactions per second. This ensures the matching engine will not be overwhelmed by customer demand even at peak volumes.

Alluma’s Order Management System (OMS) has a microservice design which permits scalable performance. See Appendix for detailed technology infrastructure on matching engine and OMS flow.

LUMA Token

Alluma’s ecosystem will be supported by the LUMA Token.

The LUMA Token is an ERC-20 compliant token to be issued on the Ethereum blockchain. LUMA tokens will be used to gain access and act as a payment method for the following:

Alluma Proof of Staking

Staking of LUMA tokens will seamlessly take place on the Alluma platform.

All users need to do is maintain a certain level of LUMA tokens in their Alluma exchange wallet for an ascribed period of time and they will automatically advance to a higher loyalty tier.

Once advancing to a higher tier, the user will enjoy all benefits of that loyalty tier as long as they maintain that level of LUMA tokens in their Alluma exchange wallet.

To be clear, tokens may be un-staked at any time (although this may result in fewer or no benefits that would otherwise apply) and users have full control over their LUMA tokens at all times.

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