Greetings!!
I was honoured to represent company “Lucy Lion” in an AMA session
with BNB48 on 18/11/2021 13.00 UTC,
where I have discussed our existing and future projects, and its security concern. I am sharing all the summary of this session to keep you update with all the latest happenings.
The recap of session is mentioned below:
Q1 First of all, could you please give a brief introduction of yourself and the team behind the project?
Hello, everyone. Hope you are doing amazing in your life. I am Icy Lion and I am grateful to you for providing us the opportunity to represent Lucky Lion. I am managing Lucky Lion as a business developer. My expertise revolves around the financial technological domain and I have vast experience in field of iGaming business across Asia.
We have 20 members in our team including blockchain developers. This team is headed by our CEO “Electro Lion” who spent enormous years in FinTech and iGaming Field. In 2016, he started iGaming business which has 200,000 active users on monthly basis.
Our marketing sector is handled by Majestic Lion as he also gained knowledge and experience by working across Europe, North America, and Asia in field of FinTech. Additionally, in 2014, he gets familiar with crypto scene. Our blockchain sector is managed by consultation of our blockchain dev guru and CTO, Shaman Lion.
Various DeFi and cryptocurrency projects are kept anonymous because of various reason. Lucky Lion do so because of following reasons:
Our developer team has an NDA with gaming x animation studio based in Asia and Europe.
Confidentiality help us to work without any constraint and to deliver the best service to our users by handling all the directives about sale, purchase, and managing cryptocurrencies across the globe.
Security, transparency, and integrity are our main concern as we deal with finances of our users. We utilize all essential means to maintain a balance between these factors. Some of our highlights are:
Completion of four audits with inspex, peckshield, techrate and certik.
Administrating a bug bounty with Immunefi.
Our partnership with titans in the crypto industry, that represents our team and brand.
Q2 Many people are interested in Lucky Lion’s tokenomics. Can you introduce it a bit? What was the thought behind the tokenomics?
One can reserve up to 100,000,000 $LUCKY tokens with an emission to be vested over a period of two year. You can check all the details here: https://docs.luckylion.io/tokenomics
Fair Launch Tokens are 60% (no pre-sale)
Ecosystem are 20% (Partnerships, Referral Program, Initial Prize Pool etc)
Dev Fund is 9% (Vested over a two-year period)
Warchest is 5% (listing fees, audits, third-party services etc)
Quoting from our tokenomics below:
FAIR LAUNCH:
No pre-sale was announced in fair launch project. However, 1% token were reserved for seeding purpose of Lucky Lion’s LUCKY-BUSD pool. And 1,000,000 $LUCKY — 30,000 $BUSD were burnt (transaction address is in our whitepaper).
We have distributed 65% of the total supply to our users during Yield Farm Launch that was deposited in the Yield Farming LP Pools having 9% of the token given to the team over a period of two years. During this period, the LUCKY Tokens will be released with a declining emissions schedule (details are present in tokenomics section of our whitepaper).
ECOSYSTEM:
20 million tokens are allocated to manage the ecosystem and merge it with other standards. The starting liquidity for partnerships, Referral Program, Play to Earn and iGaming Prize Fund is included in the ecosystem which has used 7,000,000 of these tokens whereas the initial iGaming prize fund has used 1,000,000 of these tokens. Various limitations have been implemented for avoiding reduction on price dump and token. And one can withdraw up to 500,000 tokens each month if he has previous approval acquired through a community vote.
DEVELOPMENT FUND:
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.
WARCHEST:
Five million tokens are allocated for bearing the expenses of future strategies such as listing fees, audits, third-party services, etc. We have also applied some restrictions here aiming to avoid dilution in tokens. One can withdraw up to 200,000 tokens each month if he has previous approval acquired through a community vote.
Q3 There’re a lot of gamefi projects out there right now. What makes Lucky Lion unique and stand out?
IGaming and GameFi have gained a lot of recognition and this domain is still growing and improving. Because of this nature, its scope is high and everyone is getting involved. The best strategy is in this domain is to understand the behavior and trend of your targeted consumers. Our casino is operating since 2016 on command base having classic collection games without any transparency feature or audits. Still, we are able to generate turnover of $1.8Bn USD within one year through this market place. It has moderate business and differs from crypto fluctuations.
Our main focus is to gain various groups that are mutually dependent. For that, we produced games for gamers that are of high-quality and ensures the transparency and security. We also offer NFTs collectables and utility. Whereas we enable our investor to grow along with our business.
Besides Revenue Sharing Pool and NFT utility features, we have also other remarkable games that make us unique and preferable. Star Guardian game is one of those as it is only available in 3 online casinos across the world.
Q4 The most important thing in gambling game is the integrity mechanism. How do we know if the system is fair?
We ensure fairness, integrity and transparency as we use an algorithm “Provably Fair Play”, that allows the players to endorse and examine our games’ fairness.
· The use of this algorithm build a trust-based relationship with players. Mainly, an operator can’t change or interfere in this system so it is completely authentic.
· This algorithm provides full transparency by helping the players in examining their all actions and then compare it with the results
· Such iGaming sites offers higher Return to Player (RTP).
We are aware about the significance of having honesty, and righteousness involved in gambling games. So, we use Random Number Generators (RNG) mechanisms to ensure fairness in our games. This mechanism is a mathematical system designed to generate the random numbers. In this advanced arena, RNG is a must factor involved. Have you ever wonder that why you get different item in Mario Kart every time, and why you get unique items in Diablo? This is all because of RNG. Many games such as Binding of Issac or Minecraft are operating only because of this mechanism.
RNG ensures that one can get random and unpredictable cards and die numbers, slot game symbols, jackpot triggers, and rare items to make it clear that games are not improvised. This mathematical system makes the games unique and remove all unnecessary concerns and gives confidence to the players in gaming systems.
Additional LICENSES & CERTIFICATES
RNG operates only through proper verification which requires licenses and certificates. We are verified by following:
● RNG (Random Number Generator) audited by eCOGRA
● Gaming Labs Certified
● Antillephone License Validation
Q5 What’s the roadmap/plan for lucky lion and what kind of feature will you launch in the near future?
You can check our complete roadmap in our whitepaper: https://docs.luckylion.io/roadmap
On 16th of October, we have started our iGaming series and will release new titles every month with the help of our vendors. We are thrilled to announce the launching of First-Person-Shooter. It will our users to handle own characters while collecting ammo and loot.
Our November target is to launch our highly anticipated revenue sharing liquidity pool (LUCKY-BUSD) which will let the gamers as well as the investors to stake and earn a share in a revenue of Lucky Lion, on weekly basis.
We are also working to expand our Gaming collectable NFTs, it will allow the users to make money by playing games and other means that can be procured on market places. We are planning to expand this for other uses such as extra credits, and then push it through our future partners (think like Axie Lucky Lion with special perks in both universes)
Some other staggering updates are:
- Being listed on major exchanges
- Availability of Leaderboards with various benefits
- Referrals and Affiliate programs
- Focused on initially generated gaming titles
- Crucial partnerships that will take this platform on advanced level.
SECTION 2 — Live AMA Questions.
Q1.Is there risk that the regulators might be able to shut your gambling operation down?
In November, we will receive our Gambling License from Curacao which proves authentic under seven types gambling jurisdictions implemented across the world. These seven types of jurisdictions are mentioned:
1. Jurisdictions against online gambling: It is common mostly in China, Turkey, UAE, Brunei, Cambodia, North Korea, Japan, Singapore, Qatar, Lebanon, Poland (This list is provided as a reference).
2. Jurisdictions that provide license for operating online gambling with a restriction to not provide service in own country and banned foreign license holders to operate in country.
3. Jurisdictions that provide license for operating online gambling with a restriction to not provide service in own country but allows any foreign license holders to operate. (ex. Costa Rica).
4. Jurisdictions without having any law regarding online gambling. India is its main example.
5. Jurisdictions allow online gambling only through operators registered in the same country or state (ex. Some states in the USA).
6. Jurisdictions that allow online gambling by its residents through licensed operators from selected countries but have no domestic laws (ex. Most EU Countries that allow EU licensed operators to accept customers from their countries).
7. Jurisdictions allow online gambling by its residents through licensed operators from the home country and selected other countries (ex. Most EU Countries that allow EU licensed operators to accept customers from their countries).
It is clear that Curaçao gaming license will not allow to operate in countries mentioned in first two categories and in 5th category. Aruba, Bonaire, Curaçao, France, The Netherlands, Saba, Statia, St. Maarten, Singapore, USA are the countries that do not authorize this license. However, it allows the operator to provide the services in countries mentioned in 3rd category and a few countries under the 4th, 6th, and 7th category.
Except the prohibited countries, all other countries allow the games under the Curaçao gaming license. However, users from prohibited countries get engaged in such games via VPN to access our games.
So, we have no risk from the regulator regarding completely shut down of our systems but there are sine restrictions on advertising, payments, accessing the games in some countries that we are bound to follow. As, we are Crypto based so it makes the payment method easy and smooth.
Q2. May I ask how the agreement income is distributed, whether the entire income is put into the income sharing pool and distributed to the LP, or part of it?
We only put 3% to 9% of our total income into our revenue sharing pool.
Q3. With such good results in traditional casinos, why would you want to switch to cryptocurrency to operate a casino?
Changing for better is a formula for sustainability. Traditional casinos have worked and earned a lot and now, Cryptocurrency is the future. People around the world will access it and utilize it in various ways. So, we have made a decision of switching to cryptocurrency as it will open numbers of opportunities. Players around the world will be able to play our games with cryptocurrency and it will enhance our customers and our market value.
