Lepricon x IM Community AMA Recap
🐋 TELEGRAM AMA: Im Community & LEPRICON 🐋
⏰ AMA Timing : 21 December 2020 l 00:00 PM UTC l 19:00 GMT+7
Venue For AMA : https://t.me/imcommunityitw
🎁 Reward Pool 200$ L3P token
Bà Tân | : Welcome @JoshuaGalloway from LEPRICON
Bà Tân | : Welcome everyone. Today Im Community will host AMA with LEPRICON
Joshua Galloway : Thank you — excited to be here.
Bà Tân | : Today our guest is: @JoshuaGalloway from LEPRICON
Bà Tân | : Please introduce yourself a bit @JoshuaGalloway
Joshua Galloway : Well, as you already know, my name is Joshua Galloway and I am the Founder & CEO of Lepricon.
I originally came from the video games industry. I started more than 20 years ago!
I’ve been a Vice-President at a blockchain-focused VC for the past four years.
My background includes producing and publishing AAA titles, MMO games, and mobile games. I wanted to transition into blockchain about 5 years ago as I could see that gaming and blockchain would eventually come together and this might mean considerable opportunity.
That opportunity has come about with Lepricon.
Bà Tân | : Today’s AMA will have 3 sessions
Sessions 1: The chat will be muted & the team will introduce themselves then we will ask some introduction questions to the team LEPRICON
Sessions 2: We will pick 5 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1338449121749811200)
Sessions 3: The conversation will open to the community questions and the 5 best questions will be selected
Bà Tân | : Rules to follow AMA :
Join : Telegram group Lepricon.io (https://t.me/lepriconio) and IM Community (https://t.me/imcommunityitw) , Channel Im community (https://t.me/imcommunityit)
Follow: Twitter Lepricon.io (https://twitter.com/lepriconio) and IM Community (https://twitter.com/IM_Communityitw)
Bà Tân | : Start session 1 AMA
Bà Tân | : Question1. What is the inspiration behind Lepricon? @JoshuaGalloway
Joshua Galloway : It comes from my background. I always worked in video games including some large AAA titles like Max Payne. There were some specific experiences during that time that stood out to me.
1. When I came to Hong Kong in 2001 to launch Entranz which was the Asia publisher of a MMORP called Shadowbane. The entire game was player led and this led me to being interested in Player owned and run economies.
2. I started a company in Malaysia that provided solutions for game delivery platforms, before Valve Steam, so this was where I saw how platforms could work to introduce new content.
3. I started a company in 2011 called One Zero which focused more on mobile games and I became involved with things like social casinos.
4. The past five years I have worked on blockchain projects because I can see that the merging of gaming with blockchain will completely change the industry.
These are some of the things that have inspired Lepricon to be a gaming platform which is led by the community that participates in it.
🍀Jőhn L🍀 : wow
Bà Tân | : Question2. Tell us more about the platform and any important features you want to highlight that set you apart from other prediction platforms?
Joshua Galloway : Lepricon is a community-governed prediction games platform structured as a Decentralised Autonomous Organisation (DAO). 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.
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.
Bà Tân | : Question3. What is your background (to Josh) and can you tell us about some of the team ?
Joshua Galloway : Well I said a lot about my background in the answers above. Video Games! 🙂
As for the team — we have many people involved in the project as advisors across a whole range of skill sets but there are some I would pick out who are much more closely involved:
My Co-Founder Stephen Browne, who apart from being a barrister (lawyer) has been involved in leadership roles in blockchain projects for the past three years.
Our gaming advisor, Andrew Pearson who is a subject matter and published author on anything and everything to do with gaming based on prediction.
Our Marketing advisor, Phil Ingram, who is a strategic marketer and brand builder who is looking at the challenge of building a hyper-casual gaming brand out there in the real world.
Bà Tân | : Question4. What games will you launch with and how can you guarantee there will be real content?
Joshua Galloway : There are three initial games planned for launch (with other concepts in the very near pipeline):
1. KQJ — a simple card prediction game
2. Bitpool — a Bitcoin binary options trading game
3. Fans Predict — a prediction game focused on real-world events, sports and eSports.
Once we are happy that everything is stable we open the platform to third-party developers and will work very hard to grow the stable of games as quickly as we can, while maintaining quality.
As to launching with real content:
I understand this is always a real concern with the launch of any token-based orgnanisation. Very soon we will be able to show demos for the first game, KQJ, and as things progress we will share demo videos, demo games and then beta versions.
We are all real people, with real LinkedIn accounts who are working really hard to make Lepricon happen because we believe it is a good idea that will prove blockchain and gaming belong together. We will be as transparent as it is possible to be at all stages from here to launch.
Bà Tân | : Question5. What is your vision for where Lepricon will go in three or five years?
Joshua Galloway : There are so many possibilities for the Lepricon platform, and three or five years is a long time in such a fast-moving world! But at the very least, we see Lepricon as an app store or marketplace with an ever-growing catalogue of first and third-party “on-chain” prediction games, all governed by the Lepricon community (those who hold the government token, L3P).
Bà Tân | : End of session 1 Bà Tân | : We will move on to session 2
Sessions 2: We will pick 5 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1338449121749811200)
Bà Tân | : Question1. @Luckyluck041
Can you give an overview of $L3P Token tokenomics?
Will the design of the token rise and fall with the success of the platform, does it include any scarce paths, such as equity, storage or burning ?
Joshua Galloway : The most important point here is that the token price will be tied to the success of the platform. If people play the games the token price will be supported, so this will always be our focus.
Regarding private sale and team tokens — these will undergo a linear unlock schedule. This means that market moving dumps by the team and early investors will be very difficult/impossible. This is designed to protect the price of L3P and signal to the market the long-term focus of the team.
In relation to token issuance, we will use a buyback and make model that creates a permanent incentive with continuous issuance of L3P while also keeping a maximum supply of tokens. We will buy back tokens and recycle them into constant rewards and liquidity, meaning that there will always be an incentive to continuously capitalize the system.
This allows Lepricon to leverage the benefits of issuance forever while keeping the economic benefits of buybacks and maintaining scarcity.
You will be able to earn L3P by playing, mining, and staking.
Bà Tân | : Question2. @ApaguJohan
You said on one of your AMA that Lepricon does not publish its own games. Why did you choose to not host any native game? Will it always be that way or it may change in the future ?
Joshua Galloway : Good question! Lepricon is a platform built to host top quality games. Our primary focus is on building and maintaining a platform that creates the best possible experience for all participants.
We believe that in order for the platform to succeed we need to maintain our primary focus on the platform experience. This requires outsourcing game development to expert game publishers.
This ensures that only games of the highest quality are admitted to the Lepricon platform and are supported by a dedicated community and reward structure designed for long-term engagement that benefits all.
Of course, as a decentralised autonomous organisation, the community of L3P holders will be able to vote for changes to the platform as it sees fit. So, perhaps as grow and our resources increase that might change and we might develop some lead games in house.
Bà Tân | : Question3. @hongngu44773909
Great user experience is important to all customers, what solutions does Lepricon have to improve user experience?
Joshua Galloway : We recognise that great user experience is the key to our success.
In order to ensure this, Lepricon will only host games of the highest quality. This is not a ‘blockchain games’ platform — it is a platform for high-quality games with additional features and functionality enabled by blockchain.
Firstly, we can provide a level of transparency that is lacking in traditional prediction markets. The random number generator behind our games will be hosted on the blockchain. This can be viewed and verified by anyone for complete transparency so that participants can be confident that Lepricon’s games are fair.
Secondly, Lepricon is designed to reward all participants — not just those at the top of the pyramid. Participants will be rewarded with L3P tokens for joining the platform, for participating in our games, referring other users, staking, and more.
As a decentralised autonomous organisation, the platform will be owned and governed by its participants who will be able to vote on issues relating to the platform (such as future games) and determine its future direction.
Bà Tân | : Question4. @Magnatech_ve
How will Lepricon build a thriving community that truly cares about and supports the project for a long time, rather than just gaining temporary benefits ?
Joshua Galloway : Lepricon is designed to reward participation from all members of the community, encouraging long-term engagement and ensuring the sustainability of the project.
As rewards are tied to long-term engagement, we are confident we can create a thriving community that will support the project for a long time. In addition, L3P holders will have a say in how the platform is governed, empowering them to shape the future direction of the platform.
Finally, L3P will increase in value as Lepricon grows, and its fixed supply means that holders will not be vulnerable to inflation. All these factors will ensure the long-term success of Lepricon.
Bà Tân | : Question5. @tho93316566
Maintaining and ensuring security, scalability, and interoperability will provide a competitive edge for blockchain projects. So, how will LEPRICON project solve and overcome these problems ?
Joshua Galloway : Very important question!
It is true that many blockchain projects have suffered from poor scalability and performance, as well as high transaction costs in the form of gas fees.
Lepricon avoids these problems as it will be built on Polkadot through RioDefi: a high-performance blockchain that is secure, extremely fast and interoperable with other blockchains. This will mean much faster transaction speeds (over 3000 per second) and very low gas fees.
This goes to the core of what Lepricon is — a high quality entertainment platform. Blockchain technology is merely in the background and enables additional functionality and a user-centric experience not seen in the traditional industry.
Bà Tân | : End of session 2 Bà Tân | : We will move on to session 3
Sessions 3: The conversation will open to the community questions and the best questions will be selected
Bà Tân | : More than 500 questions have been asked
Those who have not joined the https://t.me/lepriconio group will not be invited to answer questions by guests
@JoshuaGalloway Please choose 5 questions from the community and answer it .
Q1. Could you please tell me just a little more about the team and some of their backgrounds? I have personally seen many projects launch with inexperienced team members, and some of those didn’t go so well due to easily avoidable mistakes.
Joshua Galloway : Hi — the team behind this is very experienced. For a start we are all over 40! I have 20 plus years of game experience across AAA, and mobile. Our Marketing Advisor Phil has nearly 30 years of brand marketing experience. My co-founder Stephen has been involved in several successful blockchain projects. Our gaming advisor, Andrew Pearson, has published multiple books on prediction markets and is one of the most sought after gaming experts in the world.
The team is very experienced and I am highly confident is the right team to make this happen.
Q2. Crypto people say that the next boom will be on NFT after the Defi, Do you agree with this? Please share with us about NFT launching on MAD in future? @MHadam
Joshua Galloway : Yes! First of all, people have been willing to spend large amounts of money on unique digital items since the first virtual worlds like Gaia and Second Life came into being. By being on blockchain, and therefore being tradable, NFTs have massive potential and we are only just seeing the very beginning.
Q3. Do the token holders have right to participate in the governance of the project? On what kind of decisions can they vote on about the project ?
Joshua Galloway : Yes absolutely! By being a token holder you have the right to be part of Lepricon’s governance. Decisions could incude vetting proposals from game developers for grants to develop a game to major changes in the direction of the platform.
Q4. Lepricon is a platform that Focus in prediction markets and gambling games, so Lepricon can be considered a DeFi casino?
Joshua Galloway : No, we are a predicitons games platform. Otherwise known as binary options. This is not the same as casino gaming which is a different form of gaming.
Q5. Is LEPRICON a global project ? Are local communities take part in LEPRICON project ?
Joshua Galloway : Lepricon is a global project but any global community is made up of local communities. So the answer to your question is yes! Obviously we have to take into account laws and regulations in different countries but Lepricon by design has no desire to limit participation.
Bà Tân | : For questions that have not been answered today, you can send them to https://t.me/lepriconio for answers.
Joshua Galloway : Thank you — we had some questions we have not answered before so that was cool!
Bà Tân | : End of session 3
Bà Tân | : Thank you very much @JoshuaGalloway for leaving your time in AMA today with Im Community, thank you for providing interesting and useful information to the community. Thank you very much. Good evening.
Joshua Galloway : Thank you! Good night !!
Bà Tân | : Today’s AMA winners please PM @quocnguyen1234 to provide reward information. Thanks everyone .
Originally published at https://imcommunityitw.medium.com on December 23, 2020.