Recently, I had the honour to represent Lucky Lion in an AMA session with Alpaca Finance on 13/10/2021 13.00 UTC
I’d like to share with you the recap of the session, so that you can stay up to date with all of our latest developments and progress.
Please find the recap of the session below:
Q1.Could you please give a brief introduction of yourself and the team behind the project?
Thank you for hosting Lucky Lion and giving this amazing opportunity.I’m Majestic Lion or MJ. I’m the marketing lead at Lucky Lion. My background stems from FinTech, working across Asia, Europe and North America, and I got into the crypto scene around 2014 when my colleague introduced me to Bitcoin, which I sold the same year .
Lucky Lion has a team of 20, mainly blockchain devs, including our CEO Electro Lion, with countless years in FinTech and the and the iGaming space, operating an iGaming business with over 200,000 monthly active users since 2016. Additionally, we have Winged Lion, who has been deeply involved in blockchain since forever, and of course our blockchain dev guru and CTO, Shaman Lion, where most of our blockchain wisdom comes from.
Q2.Could you share with us the inspiration behind that name and for choosing the lion as your mascot? Why did you name your protocol Lucky Lion?
We loved that Lion’s are considered fiercely loyal animals, and protectors of their communities, looking after their “community” known as a pride. We further thought that the symbolic meaning behind Lions, represents the perfect ethos for our protocol.
I’m sure anyone living or travelling throughout Asia would have seen Lucky Lion statues outside of banks, businesses and even homes. They are seen as the creators, and guardians of wealth, and success.In life, as in investing, luck is one of the key ingredients in success, among many others. Hence, Lucky Lion’s Lucky Token, a gold coin with a five leaf lucky clover.
So, in conclusion we chose a Lion as our mascot and named him Lucky Lion, as the bringer of wealth, property and protector of our protocol’s community.
Q3.Many members of our community are excited about your project! Could you please explain what your protocol does? What problem does it aim to solve and why do you think you have a competitive edge over other players in the market?
We’re super happy to hear that.In a nutshell: Lucky Lion allows both investors as well as gamers to stake their LUCKY tokens on our Yield Farms, play next-gen iGaming to win, or stake in our platform’s revenue sharing pool. Both gamers, and investors are able to earn or purchase NFTs, which in later iterations will grant special perks such as extra deposit, higher revenue share etc.
1) Yield Farming
2) Revenue Sharing
To expand more further:Our iGaming features dozens of titles to play at launch, including a first-person-shooter, where players win jackpots and loots in tokens. These jackpots can be worth hundreds of thousands.
To ensure full transparency and fairness, the games we feature are protected by provably fair play, meaning players can easily check the fairness of each round. As a result, our games have a win rate between 95% — 98% (RTP)
We have accumulated over five years of iGaming user data, thus we understand the iGaming user behavior and trends. To capitalise on this, we’ll be running regular campaigns and promotions thus keeping the existing user-base engaged, whilst constantly acquiring new users.
To top it off, little time investment is needed to earn, and users retain the flexibility of choice: invest, play-to-win/earn or both.
Another cool feature of Lucky Lion is that we can easily add new game titles, vendors and even produce our own collections in the long-run, making Lucky Lion extremely versatile, and quick to capitalise on developing gaming trends.
Lastly, we’re launching collectible NFTs to invent loyal players. There will be a leaderboard, and the top positions will unlock exclusive gaming NTFs. Later, these NFTs will have utility granting special perks and we’ll collaborate with partners to cross game universes.
Q4. When did Lucky Lion launch? Could you share some of your recent milestones with us?
Lucky Lion fair launched on the 18th of September 2021. There was no pre-sale. We launched both our LUCKY token as well as Yield Farms.
There’s quite a few milestones, naturally including this partnership with Alpaca Finance.
Notably, some of the rest are:
- Listing on CoinMarketCap and CoinGecko
- Being the first ever Drip Bar partner of LatteSwap (launched on 12th of October 2021)
- Commencing our bug bounty with Immunefi
- Launching our collectable NFTs — including a Pre-Grazing Range collection in celebration of our partnership
- Launching local telegram communities
- And, conducting smart contract audits with four auditors including Certik.
All our milestones are listed here: https://docs.luckylion.io/history
Q5. Naturally, security is a key topic for our community. Is your protocol safe for the community to participate in? Are your contracts open-sourced? Have you received any audit reports?
Definitely , it is a vital topic indeed. We take security very, very seriously. We ensure all key releases are audited by the top auditors in the industry.
You can find all our completed and in-progress smart contract audits, as well as links to the comprehensive reports here: https://docs.luckylion.io/security/audits
So far, we have been audited by 4 separate auditors, PeckShield, TechRate, Inspex and Certik (concluding shortly).Furthermore, we’re running a bug bounty with Immunefi.
We’ll ensure to get more audits with major releases.We have an outsourced penetration testing team, that helps us conduct penetration tests prior to any major releases.
Additionally our contracts are under a 7-day timelock. There is only one person with the timelock contract ownership. We have made a shield to cover MasterChef so the owner can’t use functions that affect investors such as migration, transfer ownership and harvest lock-up.
What does this mean?
This shield is public on gitbook but not deployed yet as it’s waiting for audit completion, ownership MasterChef will be transferred to shield and timelock will take over the shield again (owner->timelock->shield->MasterChef ).
This means that even if there is only one owner, all MasterChef functions that can be set will not affect the investor’s capital, such as setting mint/blocks that are reduced monthly based on tokenomics, or changing dev address wallets. Once the owner has made an adjustment, the values are announced by the community and executed after a 7 day delay.
Q6. Could you please share with us what you have planned in both the short term and long term?
Certainly! We actually have our full roadmap in our whitepaper: https://docs.luckylion.io/roadmap
We’ve been busy bees, ah the Lion version of that saying.We’re kicking off our iGaming series this weekend, on the 16th of October! Thanks to our vendors, we’ll be testing and releasing new titles each month. We’re super excited about an industry first, First-Person-Shooter, set in space, allowing users to control their characters to collect ammo and loot.
We’re launching our highly anticipated revenue sharing liquidity pool (LUCKY-BUSD) shortly thereafter, on the 6th of November, 2021. This will give investors and gamers the opportunity to stake and earn a share of Lucky Lion’s revenue each week.
We’re expanding our Gaming collectable NFTs, allowing users to earn them by Gaming or other means, including some that can be purchased on marketplaces We’re expanding this further in the future to allow for utilities such as extra credits, and then push it through our future partners (think like Axie Lucky Lion with special perks in both universes)
Now some rapid-fire updates;
- Listing on major exchanges
- Leaderboards with perks
-Referrals and Affiliate programs
-Consider originally produced gaming titles
-Major partnerships to end 2021 on a high note, and start 2022 on the right foot
Q7. Can you walk us through your tokenomics? Does it have a maximum supply can?
There is a maximum supply of 100,000,000 $LUCKY tokens, with emissions vested over a two-year period. For full details please read: https://docs.luckylion.io/tokenomics
- 66% of these are Fair Launch Tokens (no pre-sale)
- 20% Ecosystem (Partnerships, Referral Program, Initial Prize Pool etc)
- 9% Dev Fund (Vested over a two-year period)
- 5% Warchest (listing fees, audits, third-party services etc)
As a fair launch project, we didn’t have a pre-sale, instead 1%, 1,000,000 LUCKY Token were used for seeding Lucky Lion’s LUCKY-BUSD pool. 1,000,000 $LUCKY — 30,000 $BUSD were burnt (transaction During our Yield Farm launch, 65% of our total supply was distributed to all users depositing in Yield Farming LP Pools with only 9% of the tokens vesting to the team over a two-year period. Over this time, LUCKY Tokens are going to be released with a decaying emissions schedule (details in our tokenomics section of our whitepaper).address is in our whitepaper)
Allocation of 20 million tokens reserved for managing the ecosystem and integrating with other protocol. The ecosystem includes the Initial liquidity for partnerships, Referral Program, Play to Earn and iGaming Prize Fund. 7,000,000 of these tokens are used for Initial liquidity for partnerships, Referral Program and Play to Earn. 1,000,000 of these tokens are used for the initial iGaming prize fund. To avoid diluting the token and a price dump, we’ve also implemented a further restriction for the rest. No more than 500,000 tokens can be withdrawn each month, with the only exception being if there is prior approval from a community vote.
The platform will not exist if we don’t have the funds to support the team and hence 9% of the distributed tokens will go towards funding development and team expansion. This fund has a two year vesting period to ensure that the team is here long term.
There is an allocation of 5 million tokens reserved for future strategic expenses. These include listing fees, audits, third-party services, etc. To avoid diluting the token , we’ve also implemented a restriction here. No more than 200,000 tokens can be withdrawn each month, with the only exception being if there is prior approval from a community vote.
Q8. What are some of the utilities of your tokens and why should anyone buy/hold them?
Our LUCKY token is extremely versatile and is aimed at both investors as well as gamers:
1) It’s used for yield farming (currently high APR LUCKY and LUCKY-BUSD LPs)
2) It’s used as credit for iGaming — Play to win jackpots and lesser prizes everyday. Be featured on the leaderboard to unlock awesome collectable NTFs
3) Stake it in our platform revenue sharing pool (LUCKY-BUSD), earning up to 9% revenue share that’s distributed weekly
4) Use it to purchase our NFTs from marketplaces
5) This is more on the nose, but the main reason to buy LUCKY is that we see it as acquiring shares, and owning part of a licensed iGaming provider: The industry is growing, expected to reach $127Bn by 2027.
Thanks to transparency and fairness algorithms such as provably, as well as covid having driven gamers online, more and more institutions and regulators are warming to iGaming, and it has become more widely accepted. They see opportunities here, especially in North and Latin America, not to mention Asia. Plus in the run, the football world cup in 2022, is expected to further boost short-term gains.
Q9. If the community would like to participate and support your project, how can they do so?
We’d love to get the backing and support of your much respected community. We’ve been fans of Alpaca Finance, and in general the entire community sentiment.
If you’re an investor that believes in the long-term potential of our project, please buy and hold $LUCKY. Ask your friends and communities to do the same.You can stake your tokens in our Yield Farms, our Revenue Sharing Pool or earn via our partnership programs such as the Grazing Range.
If you love playing games, or simply want to try, please join our global gaming community. You can earn extra credits by staking in either of our liquidity pools.We also open our arms to advisors, any valuable tips, or introductions are much appreciated.
And lastly, we’re always happy to localize, so if you’d like to help setup more regional communities please do reach out to me directly via Telegram; @mj_lion or email email@example.com
Q10.What are some of the ways we can stay up to date with your projects?
The best way to stay up to date with Lucky Lion is to join one of our official Telegram groups;
Telegram Community (English): https://t.me/luckylioncommu
Also, please follow us on:
Or simply use the links via our website: https://www.luckylion.io/
On top of this, we’re always looking to expand our regional telegram communities (Chinese, Brazilian etc.), so if you’d like to join the mod team feel free to reach out to me directly on Telegram; @mj_lion