AMA Recap: RioDeFi x Lepricon
Blockchain and gaming are two topics generating a lot of interest, recently. Following the announcement of the expansion of our ecosystem with Lepricon, a predictive games Dapp that will be soon launched on RioChain, we decided to organise an AMA with its CEO, Joshua Galloway and COO, Stephen Browne. RioDeFi’s CEO, James Anderson and CMO, Stephane Laurent Villedieu joined the discussion, which was moderated by Katerina Volkova, VP at RioDeFi.
We are happy to announce the winners of the giveaway campaign (3,000 L3P), whose questions were shortlisted:
Each one of the winners will receive 250 L3P tokens upon the release of the platform scheduled in Q1 2021. If you are one of them, we invite you to contact one of the administrators of RioDeFi Official TG group to share their ERC-20 address with us.
Below is the transcript of the online event if you have missed it or want to review it.
Katerina Volkova [22 Jan 2021 at 6:03:00 PM]:
Hello Everyone! We are excited to have this AMA with Lepricon, one of the promising blockchain projects in the gaming industry!
Let’s start now
Stephane Laurent Villedieu:
Let’s do it!
Dear Lepricon team, would you briefly introduce your project please to the RioDeFi community?
Hi everyone, great to be here,
I am Josh Galloway the founder of Lepricon.io
Lepricon is a community-governed and player-owned prediction games platform. It offers four primary channels of activity:
- You can play games;
- You can stake, swap, and earn from the operating token, L3P;
- It will develop into a peer to peer prediction market. Not at launch, but later in the roadmap. That is very exciting;
- The final strategy channel concerns NFTs, which will work their way through our user reputation system as well as a strategy for creating valuable collectibles.
This sounds really interesting! Especially taking into account the growing popularity of NFTs;
but as we know, the team is key. So would you please tell us more about your experience in the blockchain space and how you came to the idea to create Lepricon?
I spent nearly half my life in the video games industry, in the USA and Asia, including working on some famous AAA titles. I was very lucky to work in an industry about which I was (and am) very passionate. A few years ago, I had the opportunity to apply my business development skills to new blockchain-related projects and investments, which gave me the opportunity to learn the ins and outs of an entirely new industry. Very quickly, I realised the huge opportunity that exists where the fields of games/gaming and blockchain meet, and that blockchain might be the biggest disrupter to the gaming industry in a generation. Lepricon is born out of that vision. It’s the first step towards an exciting future.
Hello all, nice to meet everyone ☘️
My background is in blockchain since 2018 full time and before that was a lawyer in Ireland ! Passionate about where blockchain can take gaming and prediction markets — and excited on the journey with Lepricon.
Since we have newcomers joining the RioDeFi community, it would be great if our team could tell briefly what RioDeFi is doing, as well.
RioDeFi is a Blockchain technology company. Our mission is to accelerate the mass adoption of digital assets by bridging traditional and decentralized finance.
Our vision is a world in which everyone has access to decentralized financial (DeFi) services. To that end, we develop applications that connect people to digital assets, mobile payments, and DeFi services such as savings and lending. Our solutions enable lower transaction fees, faster confirmations, energy efficiency, secure storage, and global reach.
At the heart of the RioDeFi ecosystem is RioChain, a powerful digital infrastructure tailored for mass adoption. When designing RioChain, we prioritized security, speed, scalability, and interoperability. We operate across blockchains to leverage the strengths of each.
Thanks James! So now when everyone is updated about the projects, let’s move on to the selected questions
Questions sent on Twitter and by email
Q1: Many have recognized the potential of NFT on the Ethereum network but few have been able to take advantage and exploit their cases of use, what has Lepricon done to change this and give real value and use to their NFT?
Joshua Galloway: The potential of NFTs is immense and we have barely scratched the surface.
Let’s think about what an NFT is. It is unassailable proof of ownership. More importantly, NFTs are smart. They don’t just exist. They act. They can respond to stimuli. And they can own other NFTs or fungible assets like cryptocurrency.
Being programmable they can do so much. Pretty much everything, I believe, will use NFTs in the future. The deeds to a house will be in NFT form. In fact, with NFTs you can own part of a house. A small part. NFTs will open real estate up to a whole new audience.
That is one example.
For Lepricon — one of the first NFTs you will see will be what we call Genesis — it will be awarded to the earliest adopters who fund the liquidity pools that enable swapping. That NFT will be a very powerful asset within the system.
We also have plans for collectible NFTs which will also offer significant advantages to their owners. We will be announcing those soon.
If you want to get news on this or Lepricon in general — make sure to follow our TG channel https://t.me/lepriconio
Q2: What are the benefits of using RioChain by Lepricon for them and RioDeFi? What are the future projects you are planning together?
Stephen Browne: The primary benefits for Lepricon are significant boosts to transaction speed — up to 3000 transactions per second — and significantly reduced gas prices, lowering the cost per transaction. Both of these are essential for a successful game platform.
I will let James speak for Rio DeFi!
James Anderson: We’re incredibly excited about having Lepricon join the RioDeFi ecosystem. As a lifelong gamer myself, I’m thrilled to have the Lepricon team bring the first decentralized games onto RioChain. We’re looking forward to their merger of NFTs with DeFi and gaming, because now not only can you play, but you can also earn income while doing so.
Another reason the Lepricon team chose to build on RioChain is due to our unique economic model where 20% of all transaction fees are paid back to the dApps. This becomes another income stream for the dApp developers, or for their liquidity providers. This creates a win-win where those who grow and use the network are benefitting from it financially.
Q3: Does Lepricon really develop constant mining? If so, how does the buyback process work? And does it generate as many benefits for the project and for users as they say?
Joshua Galloway: Yes, we will continually buy back L3P from the exchanges and reinject it into our liquidity pools to keep the currency flowing. This also helps replenish the staking rewards pool.
We want to provide every way in which users can be encouraged to play, stake, fund or collect NFTs and receive the maximum benefits.
I should also point out that many of these operating issues may change over time and will be put to the community to vote on given our intended structure as a Decentralized Autonomous Organisation.
This will in time pave the way for an automatic buyback machine.
Q4: What is the Lepricon infrastructure that gives developers the tools needed to build DApps?
Stephen Browne: Lepricon will offer a comprehensive development environment. There will be a full Software Development Kit and APIs to platform processes such as transactions and the on-chain random number generator.
Also, we will be in a position to offer grants to some developers who produce compelling proposals. These proposals can be proposed by the community and voted on by the community (the holders of L3P)
Q5: Can dapps really compete with existing centralized applications? So far, the application of Dapp has been quite slow. How does Lepricon plan to use the mainstream?
Stephen Browne: We have to look at the relative features of the two approaches. Yes, centralized systems right now have speed but they have their own security risks. Databases can be altered.
On the other hand …..
Decentralized promotes trust because the blockchain is immutable and irrefutable. However, there can be speed issues. Remember though that it is the transactions that are affected — things like gameplay are in the device you are using. And as stated above, our partnership with RioDeFi is a significant step in solving the speed issues of transactions!
Q6: How tight is your platform security and what is the audit process for these projects to protect investors — especially Lepricon users?
Joshua Galloway: We just announced our partnership with Blockwell who is minting our token and supplying our opening smart contract. All of this has been pre-audited. Our platform will bring the highest possible standards when it comes to the security of the activities and staked funds. All funds are held by Hex Trust, the leading custodians in Asia.
Q7: Great user experience is important to all customers, what solutions does Lepricon have to improve user experience?
Joshua Galloway: You are absolutely correct and we recognize this. The success of Lepricon and the resulting value of the L3P operating token will depend on the success of the games and the amount of use and play they receive. And for that to happen they have to be playable. That means UI. I can promise you that we put ease of use front and center in everything we do.
Katerina Volkova: Thank you so much for answering in detail to all the pre-selected questions! Before unmuting the chat let me ask your vision for the main trends for 2021, as it’s just started!
James Anderson: DeFi will continue to be a major trend in 2021, as well as NFTs linked to DeFi and yield farming. Cross-Chain DeFi (CrossFi) will be taking off majorly, led by projects in the Polkadot network such as RioDeFi. As more institutional money and regulations come into the space, I think licensed and regulated exchanges will become increasingly valuable and preferred. Just look at Coinbase and their upcoming IPO.
It’s definitely going to be a breakout year for cryptocurrencies. Mainstream adoption.
Stephane Laurent Villedieu: 2021 is the year that will see major financial institutions take a stake in the Blockchain and cryptocurrencies industry. Blackrock already announced they were investing in Bitcoin. This new injection of capital will fuel innovation in Decentralized Finance applications where Bitcoin and other digital assets can be used to collateralize loans and other financial instruments.
Katerina Volkova: Well, I believe that the world is going to be more open to blockchain, especially the industry of Finance. So one of the main trends is still going to be DeFi. We already see the growing interests in CBDC, and active implementation of blockchain in the banking spheres, and main industries. Some banks even started to issue their own inner tokens. In addition we see the growing interest in NFTs, and AI, and asset tokenization. So I’m really excited about 2021!
And I’m curious to hear your thoughts Stephen and Josh
Joshua Galloway: Trends for 2021 — games and gaming colliding with blockchain — it is going to change the gaming industry and we will really see things start to happen this year — including us!
A move to more consumer-friendly messaging, essential for mainstream gaming and widening the user base, as we bring new people into this space through entertainment.
Questions from Telegram
Q1: Besides a gaming platform, Lepricon also focuses on a prediction market. Can you give an example of what prediction will you give to your client? Is this prediction about the gaming market, trading, or else?
Joshua Galloway: That is actually up to the user. The whole point of decentralised prediction pools are that they are peer to peer. No middleman (bookmaker) involved. This means anyone can pose any question they like (as long as it is a binary outcome) and any one else is free to participate in that pool.
Q2: What security features will be implemented in Lepricon to prevent hacking due to errors in smart contracts. Are they audited frequently to identify vulnerabilities?
Joshua Galloway: Everything in Leprcon is designed from the ground up for maximum security and safety. Our on-chain contracts are pre-audited and will be continually retested. Our assets are held in trust by a fully compliant custodian and we will constantly monitor all activity to ensure the most secure environment possible.
Q.3: Can you elaborate on some of key differences between Lepricon and earlier “crypto game” projects (such as CryptoKitties, Axe Infinity,…)? So that I can better understand your project.
Joshua Galloway: CryptoKitties was a NFT collectibles game which demonstrated some of the intelligence capabilities of NFTS such as their programmability and their ability to own other assets. We have moved on from then. Now we are talking about a platform which can operate an open ended number of games and has a full SDK and API setup for developers. In the future? Imaging all game currencies were on the chain and could be taken out of the game….
Q.4: Staking and DeFi are very popular in crypto space. Are there any ideas to implement DeFi and staking program in Lepricon’s ecosystem?
Joshua Galloway: Yes. The staking of L3P is on our DeFi layer. So DeFi is an intrinsic part of Lepricon from the start.
Q.5: I want to have a LONG TERM INVESTMENT with this PROJECT, but I’m in doubts right now, how can you convince and assure me this project is SAFE and PROFITABLE?
Joshua Galloway: Thank you for this question. It might be the most important question that we have been asked.
First I recommend that you visit the website (https://lepricon.io) and read our white paper and see the deck — this will give you a complete overview of the project.
Second — read our content on Medium where you will see a lot of our thinking on the wider subjects about blockchain, gaming, etc.
Third — find the team on LinkedIn and see their bios — our names are on the website — and see our experience and what we bring to the table.
And finally, talk to us. Contact us directly. We exist. This project exists. And we are putting everything we have and that we know into making it work.
Oh — the link for Medium is lepricon.medium.com, sorry, left that out.
Q.6: How do you plan to spread awareness about your project in different countries/regions where English is not spoken well? Do you have local communities for them to let them better understand about your project?
Katerina Volkova: I guess I could answer it as we’ve recently discuss it with the team. The support of local communities is highly important, and Lepricon team takes care of it. So they already have some growing local communities in Asia, while paying attention to the global community as well. Please contact Stephen @SorsDigitalAssets or Josh @JoshuaGalloway if you are fascinated about promoting Lepricon in your region and hae the proper experience/sources!
Thanks everyone ☘️ -
Make sure to follow us on all our social channels -
Website — https://lepricon.io
Main TG- https://t.me/lepriconio
Filipino TG — https://t.me/lepriconfilipino
Vietnamese TG — https://t.me/lepriconvn
🌎 Lepricon.io — Global Community
http://Lepricon.io is Gamified DeFi, Liquidity Pool & Prediction Platform (plus Games and NFTs)