Lepricon Buyback Number 7 (and 8)
Lepricon has executed its seventh (and eighth) buyback transfer of L3P tokens to the publicly verifiable buyback wallet, L3P-buyback.eth. The last transfer was on Jan 4, so we have executed another double buyback. In fact, for this purchase, we have moved slightly more than the minimum of 500,000 L3P every two weeks, previously guaranteed. The reason for the delay was our focus on the Gachapon launch.
2Eth of L3P (1,422,204) was purchased on Uniswap using money from our investment returns fund and then transferred to the buyback wallet. The total in that wallet now stands at 5,525,175 L3P or 2.1% of total circulation.
We made the transfer at 8:57 am UTC this morning.
A core feature in Lepricon’s tokenomics has always been the buyback and make model, where Lepricon uses its income to buy L3P on the open market. This L3P is then taken out of circulation and placed in a publicly announced wallet.
This wallet is known to CMC and CoinGecko as being outside of our public circulation. The L3P is held in this wallet until it is required to replenish staking or liquidity pools.
Lepricon is reimagining the possibilities for entertainment through blockchain technology and seeking to establish the general acceptance of player-owned economies in games. We believe that gaming can and should be the first killer-on ramp to mainstream adoption, and Lepricon’s stated mission is to catalyse this outcome.
Our activities break into three distinct tracks; technology, entertainment and DeFi.
At the core of this strategy is Lepricon’s own high-speed, gas-less Ethereum-compatible side chain, Leprichain. We are developing software solutions in the form of SDKs, which will empower mainstream game development studios to incorporate blockchain technology into their games. These solutions are built upon and powered by Leprichain, with the intent to create a drag and drop blockchain solution for mainstream game developers.
Lepricon is developing several in-house entertainment activities that operate on Leprichain, including our collection of arcade and carnival games at Lepricon City. The first games are straightforward, but we will develop more complex games that demonstrate Leprichain’s capabilities over time. We will leverage these demonstration games to encourage third party dApp developers to deploy on Leprichain.
Leprichain and all of the dApps that run on it are powered by our ERC-20 / BEP-20 utility token, L3P. Lepricon’s DeFi portal will enable L3P holders to manage their tokens, participate in governance, and benefit from advanced yield-earning activities. Lepricon’s DeFi portal will launch towards the end of the fourth quarter of 2021.
For further information, please visit https://www.lepricon.io.
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