On January 25, 2023, we held an AMA with Luganodes. This AMA session revolved around the topic of the Luganodes project.  we collected some good questions from the community during the AMA Luganodes also gave full answers about their project to the community. Let’s read this article to understand the content of the AMA.

Introduction

Nearity: Hi guys, I’m Landon, the Community Builder of Nearity. We update the latest information on Near about the ecosystem, analyze data, analyze projects, provide instructional content, and support users on how to use and integrate into the ecosystem.

Welcome to a wonderful AMA with Luganodes.

Answer the question from the community

Question 1 from ROHEE CRYPTO

“Partnerships are one of the important factors for every project. Could you name some of your partners? What are the benefits that you get from them? And is there any partnership that will be established in the near future?”

Luganodes:

Partners:

Bitfinex and Lugano Plan B

The support we received:

– The first one is institutional support & Initial infrastructure support.
– The second one is delegations.
– The last one is visibility.

Yes, we are working with a lot of potential clients to help with all things staking.

Question 2 from Scout Lang

“Security is the top concern of every project. But currently, a lot of tokens and blockchain have been hacked, so what security mechanisms does your project have? And do you have insurance for users?”

Luganodes:

– First, 100% Non-Custodial staking
– Airgapped machines for key management
– Periodic key rotations
– internal security audits
– Working towards ISO27001 certifications
– Internally configured advanced monitoring of validator nodes
– Elements (self-hosted secure servers) for all internal communications
– Currently, we offer insurance options against slashing for institutions // currently no slashing near.

Question 3 from Tonskie

“Currently, there are many developing projects, why should we choose Luganodes? What in Luganodes makes you more confident than other projects?”

Luganodes:

– AAA-rated verified provider by @StakingRewards
– Very high Uptime and Security Measures
– Solid talented team with extreme ownership that operates at pace with the ever-changing ecosystem
– Largest validator on @0xPolygon
– A super representative on @trondao
– Finally, a trusted validator for @bitfinex

Question 4 from Boss Alash

“Now that technology is changing every second, are you afraid that in the future Luganodes will lag behind new projects with newer technologies? Do you have a plan for this?”

Luganodes:

– Firstly, always up-to-date with the latest trends in the market
– Secondly, heavily invest in research and development
– Thirdly, an in-house expert team of 15+ SREs and SDEs
– Finally, work with new protocols to understand consensus mechanisms

Question 5 from Lee Di

“Can you discuss the technical requirements for running a Luganodes and what hardware and infrastructure is necessary?”

Luganodes: Varies from chain to chain and uses bare metal servers to top performance

Question 6 from JenyKim

“How will Luganodes value its community? And, what are the ways that Luganodes can build a strong and supportive community for it’s forever success? And, how many communities does Luganodes currently have for its non-english users?”

Luganodes:

-Helping and building communities around all the networks, we live on and plan to go live in the near future
– Simple staking guides
– Educational content
– Research articles/blogs on different chains
– Believers in true ethos of web3 # transparency
– Transparent about governance-related activities, node updates, operations, etc
– Will start having sessions on development and deploying dapps on different chains to onboard developers
– Lastly, events and on-ground meetups

Question 7 from Mr. Depp

“Could you please describe what is #luganodes_mission in few simple sentences? What future utilities are planned for #web3 ? Do you guys have plans to Increase visibility of the project by participating in public events?”

Luganodes: – First, Luganodes is a Swiss-based institutional-grade staking service provider. We provide world-class blockchain infrastructure to PoS networks and enable institutions with the right products and services for today and tomorrow. In addition, Luganodes aspires to play a critical role in securing and scaling Proof of Stake (PoS) networks through efficient, secure, and scalable decentralized infrastructure.

– Moreover, our vision is to build a safe, private, and decentralized internet for all. And Lugano will be the epicenter for blockchain infrastructure innovation

– Yes, we do attend and sponsor conferences. Most recently, we’re at Staking Summit where we were lead sponsors.

Question 8 from Yoga O’Mars

“What made you interested in providing infrastructure and running services on NEAR Protocol, what are you expecting from the NEAR ecosystem?”

Luganodes: – The NEARProtocol’s unique architecture & its phased upgrades are designed to enhance which include scalability, security, and decentralization.
– As the network continues to evolve, it will become more efficient & better equipped to handle the growing demands of Dapps
– NEAR uses a Thresholded Proof of Stake (PoS) consensus algorithm to execute transactions
– The network algorithmically sets a minimum validator participation threshold, where validators bid for participation
– In addition, the very powerful sharding model used by NEAR called Nightshade phase 1 went live on Near mainnet, making it more secure and efficient
– Last year, NEAR raised over $1 billion to accelerate the development of the NEAR protocol ecosystem.
– During Q3 2022, NEAR set an all-time high of 3 million active accounts.
– Furthermore, NEAR has over $85mn TVL, with around 180 active validators and we’re honored to be one of the leading validators with 100% uptime. We hope to continue receiving this trust and support from the community

Question 9 from Cosmos

“Can you discuss any current or planned developments for Luganodes in the NEAR protocol and how they will improve the network’s overall functionality?”

Luganodes:

– Firstly, staking nodes live
– Secondly, helping to secure the network and help the community earn passively
– Thirdly, staking guides/Reports/
– Fourthly, soon-making technical guides live
– And how to set up your own nodes

Question 10 from Saltima

“Some projects support locked staking whereby tokens staked could be only be unstaked after the slated period of time, do @luganodes support locked staking? And what makes staking with you better?”

Luganodes: – Actually, liquid staking is an alternative to locking up your assets, and it allows you to stake your assets. At the same time effectively use them elsewhere as collateral, lend them, or use them in a liquidity pool. And this is done through the issuance of a tokenized version of your staked funds — a sort of derivative, which can be transferred, stored, spent or traded as one would a regular token.

– For example, Lido Finance allows you to stake any amount of $ETH, issuing stETH in return, which you can use for lending, collateral, and more, all the while still earning daily rewards on your staked $ETH.

– But it also comes with increased risks and needs a good understanding of how AMMs and Defi work.

– Will roll out this based on our client’s needs.

– In talks with these different liquid staking providers like stader labs, etc.

Conclusion

Nearity: Thank you and the Community for being here today. Don’t forget to join and follow Luganode’s Twitter. I am sure that the community will be looking forward to Luganodes ‘s event in the near future.
In addition, we have another event for the community. Follow me to get a chance to receive the reward and explorer the Ecosystem
And thank you to the Near Foundation have helping Nearity to support projects
Best regards to all of you, thank you for your presence
Goodbye!

You can listen to the Recording of the AMA:

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