I was honoured to represent Lucky Lion in an AMA session
with Grenade on 11/11/2021 12.00 UTC.
where I have discussed our existing and future projects, its ecosystem, policy and regulation, 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:
Good evening everyone! We are honored to have Jelly Lion — BDM of Lucky Lion with us today.
Before our AMA begins, our guest Jelly Lion is going to share the reason why Lucky Lion team decided to be anonymous and give us a brief introduction of their members.
My name is Jelly Lion and I am honored to represent Lucky Lion in this session and grateful to you for providing us, this opportunity. I am serving Lucky Lion as a business development manager. I have served in this field for 10 years and 3 years in the iGaming domain.
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.
Lucky Lion statues can be found outside businesses, homes, and banks across Asia as it is considered the protector of wealth and a source of success. Luck plays a role in investing domain. Hence, Lucky Lion’s Lucky Token has a gold coin with a five-leaf lucky clover. We select this Lion as our mascot and this name means a source of wealth, and property. We have also considered its symbolic meaning which depicts the exemplary code for our protocol.
Various DeFi and cryptocurrency projects are kept anonymous because of various reasons. Lucky Lion does so because of the following reasons:
Our developer team has an NDA with gaming x animation studio based in Asia and Europe.
Confidentiality helps 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 concerns as we deal with the 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 index, peckshield, techrate, and certik.
· Administrating a bug bounty with Immunefi.
· Our partnership with titans in the crypto-industry represents our team and brand.
Q1.Thanks for your sharing! And our AMA starts now!
First of all, could you please give us a brief introduction of Lucky Lion? What topics does Lucky Lion primarily focus on?
Lucky Lion has two main domains such as iGaming and FinTech. We have two yield farming liquidity pools, named LUCKY and LUCKY-BUSD in which investors and gamers can stake their BUSD or LUCKY via our protocols to earn extra LUCKY. These extra tokens are used in playing our vast variety of games or stake in the revenue sharing pool through which users can earn 9% of revenue on weekly basis.
There is a great variety of games in our iGaming section such as a first-person shooter centered on guns and other weapons which allows the players to win jackpots and tokens. The amazing thing is that these jackpots are hundreds to thousand worth of dollars.
All the games played in our iGaming ensures fairness and transparency as these are protected by provably fair play which allows every player to check fairness by following all the instruction provided on screen. This technique helps us to maintain the win rate of 95% to 98%. This is also termed as Return to Player (RTP).
Our main competitive advantage is our understanding of the behavior and trends of iGaming users that differentiate us from other gaming arenas. We gain this position by collecting the iGaming user’s data of five years. To keep this at stake, we are mainly focused on promotions and campaigns on regular basis aiming to keep our users involved while attracting new users. To beat others, little time investment is a must so users keep the choice flexibility such as play-to-win, play-to-earn, invest, or both.
Players can easily add new game titles in our arena and form own collection. All these features make the company versatile and enable it to develop gaming trends. We are also working on collectible NFTs to attract loyal players. Through leaderboard, the players can unlock advanced gaming NFTs which will have various benefits such as extra deposit credits.
Q2.How does the Lucky Lion ecosystem work? What is your tokenomics?
“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.
Q3. 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 builds 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 comparing them with the results
- Such iGaming sites offer 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
Q4.Gambling is one of the sensitive topics. How would Lucky Lion face the upcoming regulation and policy?
In November, we will receive our Gambling License from Curacao which proves authentic under seven types of 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 licenses 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 licenses for operating online gambling with a restriction to not provide service in their own country but allow 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).
Q5.What kind of features will you launch in the near future?
On 16th of October, Lucky Lion has started its iGaming series and number of other series has been kicked off this morning.
Our next target is to launch liquidity pool (LUCKY-BUSD) which is revenue based platform. It will be successfully implemented in November, 2021 with main aim to provide an opportunity to investors and gamers through which they can stake and earn a share of Lucky Lion’s revenue each week.
Expansion of gaming collectable NFTs is our main expedition as it allows 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.
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.
You can check our full roadmap in our whitepaper: https://docs.luckylion.io/roadmap
SECTION 2 — Live AMA Questions.
Q1.What should I prepare if I want to start playing the game?
You can play our games by using BUSD, USDT and Lucky token. You can follow the step by step guide. https://docs.luckylion.io/resources/step-by-step-guide/how-to-play-game
Q2. How do you make sure your NFT will improve the value in the NFT market as the market is so huge? Since every business they all want the huge profit among the NFT market.
NFT is a great assets and our NFT artwork speaks volumes. We also work on iGaming industry that will shortly launch its NFTs. Moreover, users can earn it through our leaderboard system. Soon, we are going to launch utility NFTs that will have various perks such as extra or special tournaments. And our collectible NFTs are going to open for trading just like other conventional gaming cards.
Q3. iGaming activities include, but not limited to online casino betting, poker betting, or online video gaming, etc. what’s the features in Lucky Lion?
In Lucky Lion, there is an amalgam of Defi world and online casino which allow us to provide various amazing games such as Star Guardian game, which is only available in 3 online casinos around the world. Revenue Sharing Pool, NFT utility features, and all these games make us unique from other online casinos and GameFi.
Q4.I have tried your game, but I haven’t seen every game record on-chain. If this is the case, where is the integration of the game and blockchain? And how can I trust that?
All of our games are operating off-chain but the essential record is passed to on-chain such as Win/Loss data, and Revenue Sharing data. We are using Evoplay which is considered the most trusted game provider across the world. Many auditors audit our algorithm before the GameFi and Defi which ensures that the safety of all the records and it won’t be affected by Evoplay.
Q5. Would you please explain what “iGaming”? In addition, how is the player’s return reward rate of 96%~98% calculated? Finally, how much do players need to invest to get started?
iGaming is about online games played through internet. The industry of online game has gained massive growth due to sports betting and casino games. In this games, player’s return rewards are calculated by dividing the total amount returned to players by the total amount gambled by players. Let suppose that:
The amount gambled by players = $10,000
Amount gained through games = $9500
$9500/ $10,000 * 100 = 95%.