I was honoured to represent Lucky Lion in an AMA session
with KillSwitch.Finance on 28/11/2021 13.00 UTC .
where I have discussed our existing and future projects, their security concern, and cryptocurrency. I am sharing the summary of this session to keep you updated with all the latest happenings.
Please find the recap of the session below:
Q1.I heard Lucky Lion uses RNG so If it is possible that RNG will exploit like farmer world or pancake lottery(v1) that some player can always win by waiting on the right blocktime because it is not a real random?
Integrity and fairness are important factors in the world of gambling. So, we keep these factors in our games through the use of the RNG mechanism. But the main question is how real the RNG is?
Random Number Generators (RNG) are operated mathematically and generate random figures. The advanced games are incomplete without RNG. Have you ever wondered that why you get the different items 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.
The 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 removes 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 the following:
● RNG (Random Number Generator) audited by eCOGRA
● Gaming Labs Certified
● Antillephone License Validation
Q2. Smart contracts are vulnerable to bugs, and even recently three big new DeFi projects were victims of this, costing users funds. How efficient and secured is your smart contract, and did you ever audit it via any external party?
Lucky Lion considers security as the main concern. Therefore, our main releases are examined properly by the higher auditors. Our complete smart contract, in-progress smart contract audits, and links that show the comprehensive reports are attached in the link here: https://docs.luckylion.io/security/audits
Till now, Lucky Lion has been scrutinized by four different auditors named PeckShield, TechRate, Inspex, and Certik.
Moreover, we are also managing a bug bounty with Immunefi. So, we are hopeful to receive more audits with main releases. All the releases underwent penetration tests via our outsourced penetration testing team.
We make all the contracts under a timelock of seven days. At the time, there is one person with the timelock contract ownership. We also have covered our MasterChef with a shield aiming to protect our investor from any harmful function from the owner side such as migration, transfer ownership, and harvest lock-up
What does this mean?
It elucidates that shield is on the public mode in gitbook but not fully formed as it is in the stage of audit completion. The process goes like that: the ownership MasterChef will be given to shield and it will be acquired by timelock. This processes is represented as (owner->timelock->shield->MasterChef).
It clearly showed that all MasterChef functions will not affect the investor’s capital even in the case of one owner. For example, locating blocks that are minimized on monthly basis in tokenomics or swapping dev address wallets. After the adjustments made by the owner, the community declares the values which are implemented after seven days.
Q3. I would like to know what you guys’s plan next for marketing on a global scale, and who is your partner else about advertisement?
You can check our complete roadmap in our whitepaper: https://docs.luckylion.io/roadmap
On the 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 their characters while collecting ammo and loot.
We are working on a new Live Pool that will be of main advantage for our investors. This milestone will be achieved with the help of KillSwitch Finance. 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 earn a share in the revenue of Lucky Lion, on weekly basis.
We are also working to expand our Gaming collectible NFTs, it will allow the users to make money by playing games and other means that can be procured on marketplaces. 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 will take this platform to an advanced level.
Q4.Could you introduce briefly about #LuckyLion tokenomics? And tell us more about Total supply and Starting price per token? How many tokens will be minted in future and how many tokens will be locked by the team/Investors?
“Lucky Token” is used by our ecosystem in our tokenomics system that has three pillars:
- Yield Farming
- Revenue Sharing pool
In the case of Lucky Lion Tokennomics: One can reserve up to 100,000,000 $LUCKY tokens with emissions to be vested over a period of two years. You can check all the details here: https://docs.luckylion.io/tokenomics
- Fair Launch Tokens are 60% (no pre-sale)
- Ecosystem is 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:
No pre-sale was announced in the fair launch project. However, 1% tokens were reserved for the 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).
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.
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 for a long-term.
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.
Q5. How can Lucky Lion attract people playing on online casinos to move to your platform because if less people play, investors won’t buy lucky and add LP for rev sharing because the return won’t be attractive.
The relative size of cryptocurrency in the market is USD 3T which attracts the majority of the population and it will grow further. Hence, we provide various opportunities to our crypto users of playing next-gen iGaming which mainly differs from the games available in other casinos. They can engage by utilizing the crypto in the wallet and it is also a safe way as best auditors check all out audits Star Guardian game which is only present in 3 online casinos around the world. Revenue Sharing Pool, NFT utility features, and availability of various games and features make us unique and firm among others.
SECTION 2 — Live AMA Questions.
Q1: Most investors, the main focus of any crypto community is on the price of the token. When prices go up, people are happy, when they go down, people start to leave. Do you have a plan to strengthen and grow a loyal community, and how do you trust it as an investor?
Apart from defi farm system, our iGaming section is best for gamers as well as investors for playing our vast range of games. Our Revenue Sharing system is another advantage for both parties as one can yield a revenue share through this. The income and number of players are directly dependent on each other. This relationship serves as a great opportunity for investors.
Q2. I see the NFT is involved here too, can you explain a little more how that plays into the $LUCKY system?
Recently, NFT has gained magnitude and Lucky Lion is blessed to have a great artwork of NFT (check all the examples). The collectible NFTs can easily be earned and owned by players through our leaderboards and top. Our next target is to launch utility NFTs aiming to provide a unique gameplay experience to players and various perks including extra deposits or special tournaments. And we will open some of the collectible NFTs for trading and sale as traditional gaming cards
Q3.Tell us a little bit about security? Have you done an audit of the platform? Are the smart contracts error-free? What are the test results?
All the information regarding our completed smart contract, and in-progress smart contract audits is provided in the comprehensive reports attached here: https://docs.luckylion.io/security/audits
Till now, four different auditors PeckShield, TechRate, Inspex and Certik have audited our platform. Moreover, we are also working on a bug bounty with Immunefi.
Q4.What kind of game will be released first?
Our vast range of games have already been released for players in both formats Free to Play and Pay to Win. These games are available at this link: https://app.luckylion.io/games.
Q5 Please help to provide information related to team performance background and future partner?
Smart contract and crypto experts came under one roof of Lucky Lion to work for the evolution of the Common Wealth Bank of Australia, cross-border remittances on the Stella Blockchain, and to form a traditional online casino (Fiat) system. Grazing Range, Alpaca Finance, NFT reward with Coinmarketcap, NFT marketplace, and NFT3.0 with Galaxy are some of our main partners. You can check our other affiliations here: https://www.luckylion.io/ Partner and Affiliate section.
Q6.Another question, I went to look at the game on the web. Most of them are luck-based games, but there are also quite a few skill-based games. Will there be tournament tournaments with attractive e-sports prize pools in the future?
Yes, our team has worked together to organize an event where multiple games can be played at once through a Leader Board system.