All user’s wallets have two types of Notes, Bought/Accrued and Received. Use Notes to support other creators or cash them out for USD.
Received Notes
The Notes that have been gifted are separated from the Notes bought or accrued. The only functional difference between this type of Note is that when gifting these Notes to other users, LÜM requires a recirculation fee or “Regifting” fee of 30%. To be clear, these Notes have the same value as Bought/Accrued, but the recirculation fee is to maintain the integrity of the platform – so Notes do not become inflated, and lose their value.
Bought/Accrued Notes
Notes that a user has purchased, or accrued from rewards, do not have a recirculation fee associated with them.
To view your wallet click HERE.