Unveiling Lightning Starter: A Transparent Mechanism for Fair Taproot Asset Minting!

Nostr Assets Protocol
7 min readDec 7, 2023

We are thrilled to announce the launch of our highly anticipated Fair-Mint Campaign, featuring the innovative Lightning Starter by NostrAssets. This groundbreaking initiative is designed to ensure transparency and unbiased selection within our community, providing a fair and secure minting experience for the relatively new Taproot Asset.

Our Lightning Starter introduces a unique combination of rules based on both the Bitcoin block hash and launch pools, setting a new standard for fairness and transparency in the minting of Taproot Assets. In response to the industry’s need for a reliable and unbiased method for communities to mint Taproot Assets, our campaign incorporates this mechanism to foster trust and integrity within the community.

Taproot Asset is relatively new, and the industry lacks a fair and transparent way for communities to mint it. The Lightning Starter is our commitment to addressing these challenges head-on, providing a solution that not only meets but exceeds industry expectations. Join us in this exciting journey as we embark on a new era of minting standards with the Lightning Starter, making Taproot Assets accessible to all in a secure and transparent manner.

Phase 1: Participation

In the Launch Pools, a default configuration of 12 pools or a number specified by the Issuer will be assigned 16 hexadecimal characters, comprising 0–9 and a-f. Among the 12 Launch Pools, four will have TWO hexadecimal characters each, while the remaining eight will each have ONE.

During Phase 1: Participation, participants have the flexibility to engage in their chosen Launch Pool by applying with their desired amount of $TRICK and/or $TREAT assets. Rankings within the pool will be determined by the cumulative sum of $TRICK and $TREAT committed by each participant. To enhance their standing and odds of winning, participants can monitor their rank within the pool and increase their commitment accordingly.

Importantly, withdrawals from the launch pool will not be permitted during this initial phase, ensuring a stable and fair participation process. At the end of Phase 1: Participation, 50% of $TRICK and $TREAT committed will be returned, and the remaining 50% will be refunded at the end of Phase 2: Lottery Draw.

Phase 2: Lottery Draw

Phase 2 commences at the Bitcoin’s block number specified by the issuer.

During the lottery stage, the winning Launch Pool is determined by the hexadecimal character matching the last one in the block hash of a Bitcoin block.

For instance, using the example in our image, if the last character in the block hash is a ‘6’, Launch Pool #7 with ‘6’ assigned is declared the winning pool.

Winner Selection Process

Number of Winners: 50 (default) winners or a number specified by the Issuer will be drawn from the winning pool.

Selection Criteria: Winners are chosen based on the highest quantity of committed $TRICK and $TREAT per Block Hash. In other words, the first top 50 will be selected for the first win of the pool.

Cycle Repetition: The cycle repeats for subsequent blocks until the maximum number of winners is met. If any Launch Pool secures another win in a subsequent draw, the next set of 50 top-ranked participants from the winning pool will be selected as winners.

Halving of Rewards: There are 15,000 winners in total, and the rewards undergo halving twice, occurring at every interval of 5,000 winners.

If there aren’t enough winners in the first 200 blocks, any remaining shares will be distributed at the end, with each person receiving 540 tokens.

This results in a total number of winners exceeding 15,000.

Duration of Phase 2: Phase 2 may take place over 1–3 days depending on the maximum number of winners and the number of winners selected per block.

Phase 3: Claim Rewards

Eligible winners would be able to claim their rewards from the ‘Claim’ sub-page.

Other Rules:

1. Single Launch Pool Participation: Each Nostr address is limited to joining a single launch pool during the event.

2. One-Time Winning: To promote fairness and broaden the distribution of rewards, each Nostr address is eligible to win only once throughout the event duration.

3. Winner Limit per Block Hash: A maximum of 50 winners, or a number specified by the issuer, will be selected for each Block Hash during the Phase 2 Lottery Draw.

4. End of Phase 2 Lottery Draw: Phase 2 concludes when the maximum number of winners for the event has been reached.

The Edge of Lightning Starter

At NostAssets, we take pride in pioneering a fair and transparent minting process that stands head and shoulders above the rest. Our commitment to innovation ensures an advanced approach, setting a new standard in the industry.

1. Fair & Transparent

Our fair minting process is designed to be transparent at every step. From the Launch Pools configuration to the selection of winners, we prioritize openness, allowing participants to confidently engage in a trustworthy environment.

2. Verifiable Random Selection

Unlike traditional minting processes, our system incorporates verifiable random selection mechanisms. This cutting-edge approach ensures that the winning Launch Pool is determined by a truly random and verifiable process, leaving no room for manipulation.

3. Mitigate Bots & Front-Running

We understand the challenges posed by bots and front-running in the digital asset landscape. Our advanced minting process includes robust measures to mitigate these risks, providing a level playing field for all participants. This not only safeguards the integrity of the minting process but also fosters a more inclusive and secure environment.

Interested projects keen on issuing Taproot Assets with Lightning Starter may apply through our NostrAssets Builder Application to explore the possibilities of joining our innovative ecosystem. Choose NostAssets for a minting experience that goes beyond the ordinary — one that is fair, transparent, and equipped with advanced features to ensure the integrity of your participation.

Lightning Starter’s Maiden Mint — $NOSTR

Lightning Starter is thrilled to announce the issuance and Fair Mint campaign for $NOSTR, a Taproot Asset created on the Bitcoin mainnet. Post the campaign, $NOSTR will become transferable and tradable on NostrAssets alongside the existing $TRICK and $TREAT.

  • Community-Driven Ticker: The ticker name $NOSTR was chosen through community voting.
  • Non-Exclusive Naming: Taproot Assets’ names are not unique or exclusive on the Bitcoin mainnet, allowing for the issuance of assets with the same name but different unique asset IDs.
  • Circulation and Lock-Up: $NOSTR will be fully circulated on the market with no lock-up periods.
  • Ownerless Asset: $NOSTR is an ownerless asset, and the NostrAssets team will not engage in any operations related to this asset.
  • Asset Allocation: Distribution includes 5% to the NostrAssets team, 5% to core developers of the Nostr protocol (contact will be made with Nostr core developers), and the remaining 90% will be fairly distributed to the community on Lightning Starter.

$NOSTR Fair Mint Rules

Total $NOSTR Supply: 21,000,000

Total $NOSTR Supply allocated to Fair Mint Campaign: 18,900,000

Total $NOSTR Reward per Winner: 2,160 (first 5,000 winners), 1,080 (second 5,000 winners), 540 (last 5,000 winners)

Maximum Winners: 15,000 or more

Winners per Block: 50 (fun fact: 50 is also the initial amount of Bitcoin block rewards upon its launch back in 2009)

Number of Blocks / Lottery Draw Period: ~300 Blocks / ~2.1 days

$NOSTR Fair Mint Timeline

Phase 1: Participation: Starts in the week of 11 Dec 2023, spanning three consecutive days

Phase 2: Lottery Draw: To Be Announced (TBA)

Starting Bitcoin’s Block Number: To Be Announced (TBA)

Phase 3: Rewards Redemption: To Be Announced (TBA)

To ensure a seamless claiming process for our winners, $NOSTR won’t be tradable on the Marketplace immediately. Stay tuned for the official listing announcement of $NOSTR on the marketplace.

Embark on a Revolutionary Minting Journey

Your venture with Lightning Starter assures more than the acquisition of $NOSTR; it guarantees an immersive and equitable experience at the forefront of innovation. Enjoy the journey and happy minting!

Risk Warning: Participating in the Fair Mint campaign of $NOSTR may involve fluctuations in the value of $TRICK and $TREAT, which are required for participation. Users are advised to exercise caution, fully understand the characteristics of $NOSTR assets, and carefully participate in Marketplace trading activities.

About Nostr Assets Protocol

Nostr Assets Protocol is an open-source decentralized trading infrastructure built on Nostr Protocol and secured by Lightning Network. Fundamentally, it allows users to send, receive, and trade digital assets within the Nostr Protocol.

More importantly, by leveraging the capabilities of Lightning Network and Nostr Protocol, Nostr Assets empowers developers to build more business-centric utilities that are not limited by the inherent issues of blockchain to achieve complete decentralization and data transparency, while mirroring the performance of traditional apps.

Official Links

Website: nostrassets.com
Mainnet: mainnet.nostrassets.com
Gitbook: doc.nostrassets.com
Github: github.com/nostrassets/interface#readme

Twitter: twitter.com/nostrassets
Medium: nostrassets.medium.com
Telegram: t.me/nostrassets

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Nostr Assets Protocol

⚡️LightningFi on Nostr - Send, Receive & Trade Taproot Assets & Bitcoin