Lepricon NYE AMA Recap
💁♂️Telegram AMA: Lepricon
🕑AMA Timing: 31 December 2020 | 02:00 PM HKT | 14:00 GMT +8
🎫Venue: https://t.me/lepriconio
🎁Reward: Each will receive $20 worth of L3P for all chosen questions
Host: Greetings everyone! We are about to start the AMA! 🥳🥳
Host: For Segment 1: Introduction
Host: A pleasure to have you here Sir @JoshuaGalloway.
We have a lot of newcomers here, can you please give us an introduction about Lepricon and about yourself? Thank you😊
Joshua Galloway: Sure, I will do me first and then Lepricon. My name is Joshua Galloway — everyone calls me Josh — and I am the Founder and the CEO of Lepricon.
My background is video games where I have more than 20 years of experience. I have more recently been involved as a Vice-President at a blockchain-focused VC for the past four years.
Lepricon is a community-governed prediction games platform structured as a Decentralised Autonomous Organisation. We will provide hyper-casual games for the general user which operate on a blockchain backbone via our native governance and platform token L3P.
The Lepricon platform also offers opportunities for staking and liquidity mining. Our platform will be open to third-party developers as a channel for the games they produce. In many ways an app store for prediction-based entertainment.
The most important thing I would say is this — Lepricon is not a blockchain company — we are an entertainment company at heart. We understand it is all about the users if we are to give value to our token.
Host: Segment 2: Twitter Round
Host: Q1 from @Emidm28
How did the idea of creating Lepricon come about? What motivated you to build this platform and what is the main purpose of Lepricon?
Joshua Galloway: All of our smart contracts have been pre-audited by the developers concerned and are and will always be fully tested.
Also, we are setting up a number of partnerships with organisations like RioDeFi that give us cross-chain abilities to speed up transactions so that the network is not clogged.
We realise that security and accuracy is everything so we are working diligently to ensure that everything works. Given the high expected transaction volumes this is paramount to us.
Host: Q2 from @QuyenCao11
Smart contracts are prone to failure and many projects fall victim to this, costing users money and the project discrediting. How reliable and secure is your smart contract? Have you audited it through any of the parties?
Joshua Galloway: All of our smart contracts have been pre-audited by the developers concerned and are and will always be fully tested.
Also, we are setting up a number of partnerships with organisations like RioDeFi that give us cross-chain abilities to speed up transactions so that the network is not clogged.
We realise that security and accuracy is everything so we are working diligently to ensure that everything works. Given the high expected transaction volumes this is paramount to us.
Host: Q3 from @tho93316566
Everyone knows, if you want to go fast, go alone, but if you want to go far, you go with your partners, so with LEPRICON, which partners will promote and help LEPRICON reach and achieve the project’s goals?
Joshua Galloway: Ah! I should have saved mentioning RioDeFi for this question!
Ok — well, first, the premise of the question is absolutely correct. Partners are vital to us — it enables us to bring aboard a number of solutions that when put together will make the platform fly.
The first one we have announced is RioDeFi. Through them we will be able to bridge to the Polkadot network which means we can rapidly speed our transaction rate (to about 3000 a second) and rapidly lower the gas fees per transaction. This means we can offer immediate game turnarounds in seconds rather than minutes.
There will be a number of partnerships announced in the coming weeks. I wish I could say them now because we are so excited about them but you will have to be patient
But yes — there will be many partnerships and you are correct — they are vital.
Host: Q4 from @Elisakabe
What is the structure of the Lepriconio, is it a decentralised, open sourced protocol where everybody can contribute? If so, how does the governance plan on being handled?
Joshua Galloway:
There is Lepricon now and there is the Lepricon of the future. Right now, we are in startup mode as we gear up for our public token sale. The future is a DAO or Decentralised Autonomous Organisaton.
We expect the process will take about 30 months from launch but once complete the entire company will run on smart contracts with minimal need for administrative manpower. By being a token holder you will be able to participate in suggesting new ideas and voting on new ideas for the company.
By new ideas I mean — platform changes, changes to the way the Lepricon economy runs, new games or game developers and voting on which games make it to the platform as new content.
Host: Q5 from @RahulJayaraj9
As everyone knows $XRP tokens are dumping and delisting from big exchanges and made huge losses for investors. So how can you ensure us that $L3P will not make such losses for investors?How can we trust on $L3P tokens?
Joshua Galloway: Excellent. A topical question. And actually a very important one.
As I am sure most people know, the reason that the XRP token is in trouble is because the US Government wants to prove that it is a security and not a currency. A law suit of this nature was bound to happen at some point and will be an important turning point in the development of crypto currencies and blockchain in the USA.
XRP was developed as a token for interbank international transfers — essentially to replace SWIFT, which does need replacing!
L3P is an internal operating token. It is the token that enables the Lepricon platform to function. Yes it will be fully tradable on external exchanges but the success of the L3P token is entirely based upon the success of the games platform attracting people to play the games
So, the factors involved in L3P are different from those affecting something like XRP.
Host: Segment 3: Live Questions
Q1: @SPADE_1
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?
Joshua Galloway: There is nothing really magical about dApps — if an app on your phone is talking to a central server in the cloud, then a dApp is talking to a smart contract instead which itself is a computer program. So that is all a dApp really is, a user interface to a distributed conputer system instead of a single server.
So the question you are really asking is about blockchain itself. And that is down to the applications. Lepricon is a hyper casual gaming experience and we believe people will want to play. If they are playing then they will be using a dApp!
This is something we talked about above. We have a multi-chain approach and the first partnership which enables us to do this is RioDeFi — this provides a bridge to the Polkadot metachain which will enable us to run thousands of transactions per second meaning immediate playing and immediate payouts.
Q2: @Boom211
How does Lepricon solve Ethereum’s scalability problems and focus on the end user experience?
Joshua Galloway: This is something we talked about above. We have a multi-chain approach and the first partnership which enables us to do this is RioDeFi — this provides a bridge to the Polkadot metachain which will enable us to run thousands of transactions per second meaning immediate playing and immediate payouts.
Q3: @Uci000
Recently RioDefi has officially become a partner of Lepricon. Did RioDefi come only because they have the same vision? Which side will benefit? RioDefi or Lepricon?
Joshua Galloway: I am glad I can answer this question after the previous one.
We have very similar visions and that is a big reason why they have partnered with us. We both benefit. We benefit because we can solve the scalability issues mentioned with Ethereum above and they benefit because they increase the range of companies and content that they can claim in their stable.
Q4: @Poponchi
I’m curious about the team’s record. I think it is important to invest on a project who has a reliable workers. Do the team already worked on something related to crypto industry and how many of you in your team?
Joshua Galloway: Hi Sam — speaking for me personally I have:
* VP at a US$200million VC fund that invested in many blockchain projects
* Incubated a US$300m gold-backed stable coin
My co-founder Stephen and I have worked together on many blockchain projects for the past two years.
Also this is a games platform that runs on blockchain — my experience in gaming is the most important thing on the table.
We have a significant number of top rate advisors from the field of blockchain, marketing, market making and prediction markets and casino gaming.
The team is top rate!
Q5: @rajarek
As Education for crypto currency is necessary nowadays , what’s your plan to attract those people who don’t know about cryptocurrency?
Joshua Galloway: That’s the million dollar question!
We are a gaming company that makes hypercasual games for people to play. There is no need to be a crypto person to play or participate. Buying our operating token to stake will be as simple as an in-app purchase. There are no new skills to learn.
But once they hold the tokens then we can introduce them to the additional features that owning L3P brings.
Put another way — 1/3 of the world’s population plays games. We want them. THey can learn to use L3P once we have them and we believe this will bring a lot of people into the digital-wallet possessing population of the world!
