LYRA is a unique technology that allows merchants of any size to implement a closed loop payment solution for loyalty rewards, gift cards, store credits, and promotional discount coupons based on combined usage of customizable fungible and non-fungible crypto tokens. Lyra solution consists of Lyra network and LoyalShopper application. Lyra network provides out of the box real time authorizations, customizable fungible and non-fungible tokens with targeted smart contracts, built-in decentralized token exchange and marketplace, superlight clients, and many other features required for real world financial transaction processing. LoyalShopper application provides merchants of any size with the ability to create their own loyalty reward programs, gift cards, promotional coupons, and store credits based on crypto tokens maintained on Lyra blockchain.

LYRA NETWORK is designed and coded from the ground up, which allows it to include most recent achievements in blockchain technologies such as block lattice, distributed proof of stake, cryptonote, and more. Those new technologies in turn allow to implement features that prevent mass adoption of most existing blockchains by mainstream: very high scalability, instant authorizations and settlements, super light clients, no chargebacks, no locked balances, native custom tokens (i.e. multi currency) with targeted smart contracts, built-in “on chain” decentralized exchange, and more. Payment industry will never take crypto seriously before these key features are present.

LOYALSHOPPER
Almost all merchants use (or would like to use) some kind of closed loop payment system that handles their loyalty reward points, gift cards, store credits, or promotional discount coupons. Lyra Live offers an alternative to traditional closed loop systems, a solution based on blockchain. LoyalShopper is a Lyra blockchain based application that provides merchants with the ability to create their own loyalty rewards, gift cards, promotional coupons, and store credits (refunds) programs, both online (integrated with major ecommerce platforms) and in stores (integrated with major point of sale software applications and hardware terminals). LoyalShopper provides an end-to-end solution that supports both merchants and buyers.





LYRA website: https://lyra.live
LYRA Documentation Site: https://docs.lyra.live
LYRA on Twitter: https://twitter.com/LYRAblockchain
LYRA on Telegram: https://t.me/lyra_live

What is LoyalShopper?
LoyalShopper is the LYRA-based application for creating, managing, and integrating loyalty rewards, gift cards, store credits (refunds), and promotional discount coupons programs, both online (integrated with major ecommerce platforms) and in stores (integrated with major point of sale software applications and hardware terminals). LoyalShopper provides an end-to-end solution that supports both merchants and buyers.

More clarifications on Lyra tokens: http://lyra.live/#lyrtokens

LYR TOKENS
Lyra “native” tokens (Lyra.LYR, or simply LYR) will be used by the network for authorizer nodes voting and paying a fee for certain types of transactions. LYR tokens will be distributed through the upcoming faucet, airdrop, and bounties.
In the future, Lyra users and third party developers might need to purchase LYR tokens from the market in order to run their applications.

LYR is not a real money, it’s not even cryptocurrency per se – we just have to have it to kick off Lyra network to enable DPoS, jump start network activities, and incentivize network and application development. While it will retain its voting and governance power, it might be eventually supplemented by real fiat and crypto currencies (their Lyra surrogates, actually) as a payment method for some transaction types.

Although we initially decided to postpone any work on privacy to the future phases of the project, there are (and always were) questions about privacy, so we decided to move forward in this direction.
As a first step towards privacy transactions, I put together a paper proposing the high level design of privacy transactions on block lattice.
As the next step, we plan to implement a proof of concept based on this proposal. Please let me know if you have any questions, concerns, or suggestions!
https://github.com/LYRA-Block-Lattice/LYRA-Docs/blob/master/Privacy-Transactions-on-Block-Lattice.md

LYRA’s Delegated Proof-of-Stake

Several successful attempts have been made to eliminate proof-of-work and fully replace it with proof-of-stake. Several “high-ranking” crypto projects (EOS, Tezos, Lisk, BitShares, Nano, Ark) have implemented a delegated proof-of-stake (DPOS), or based their consensus mechanism on DPOS principles (Cardano). In DPOS all participants can vote for a few nodes by delegating their coin balances to the nodes they trust. The more votes (the greater stake balance) the node receives, the higher its position and the possibility of being elected as an authorizing node.

It is preferable that the voting currency has a finite supply and be fairly distributed among the network participants. Lyra tokens will be used as the voting token. Account holders can vote for an authorizer by their account balance. Each voting account is linked to a particular authorizer. The dividends come from transaction fees which the authorizer earns by participation in the authorization process. This way, all users are motivated to vote as they participate in Lyra rewards sharing, i. e. account holders become stakeholders of the Lyra system.

In traditional centralized payment systems such as Visa or PayPal, the earnings are received by the corporation that owns the network, and some part is distributed to shareholders. In LYRA, all the earnings are shared directly between the authorizers and voting account holders, with no corporate bureaucracy in the middle.

New Lyra release went live on testnet!

This is the long-waiting public release of testnet binaries for Lyra block-lattice.

What's new:

- Full DPoS support.
- Fees aggregation and redistribution.

 https://github.com/LYRA-Block-Lattice/Lyra-Core/releases/tag/1.6.4

http://api.testnet.lyra.live:4505/api/Node/GetBillBoard

Lyra testnet block explorer is live!

https://blockexplorer.testnet.lyra.live

Lyra testnet node Windows setup guide:
 
https://github.com/LYRA-Block-Lattice/LYRA-Docs/blob/master/Lyra%20Testnet%20Node%20%20Windows%20Setup%20Guide.md

#LYRA #LoyalShopper #Shopify #blockchain #crypto #rewards #testnet

@OP, seems that your project needs awareness among crypto users. How soon are you going to launch your platform with this partnership with Shopify? Or are you just waiting to fully test your network with shopify? This is a big partnership if this will go smoothly. With large number of users, this partnership alone will give you good exposure in the market. If merchants will utilize your platform, focusing your market in shopify alone will make your project a hit. As one of online shoppers, it is good to see coupons or loyalty rewards in terms of cryptocurrency. And remember, ecommerce is really flourishing, not only because we are in pandemic but the convenience it brings to its consumers worldwide. So good luck to this project and I hope seeing lyra token to be successful with this journey.

FYI - you can see the status of Lyra testnet nodes in real time:
https://blockexplorer.testnet.lyra.live/showbb