Lepricon x Satoshi CLUB AMA Session — 16 Jan 2021
The plan of AMA session:
- Part — Introduction and preselected questions
- Part —Live questions
- The Quiz
The reward pool is 500$
Leading the AMA our clever and fun admins:
Mary | Satoshi Club — @madamlobster and D. | Satoshi Club — @Cool_as_Ice
The Representative of the project:
Joshua Galloway — @JoshuaGalloway — CEO of lepriconio. The video games industry veteran — starting in that industry in the USA over 20 years ago. I worked on a lot of AAA titles including some people might recognize such as Max Payne.
Introduction of Lepricon project.
Mary | Satoshi Club:
Hello Satoshi Club! We are happy to announce our AMA session with Lepricon! Welcome to Satoshi Club😀
D| Satoshi Club:
Hello again to all! 👋 @JoshuaGalloway hello! Welcome!
Joshua Galloway:
Hello! Thank you — very happy to be here.
Mary | Satoshi Club:
Hello, Joshua🚀 happy to see you here. How was your day?
Joshua Galloway:
Fantastic. Prepared for this AMA with a steak.
Mary | Satoshi Club:
Great! Let’s start it🚀
First, tell us please more about yourself and how did you start with Lepricon😄
Joshua Galloway:
Ok — about me first then (but not too much)
Mary | Satoshi Club:
As you wish 😉
Joshua Galloway:
I am a video games industry veteran — starting in that industry in the USA over 20 years ago. I worked on a lot of AAA titles including some people might recognize such as Max Payne.
D| Satoshi Club:
Yes, I know that trilogy 🙃cool games!
Mary | Satoshi Club:
Wow, 🚀 veteran sounds really solid 👏 how did you get in blockchain?
Joshua Galloway:
In 2001 I came to Hong Kong to co-found a company that would publish the Asian version of an MMORPG called Shadowbane which was published by Ubisoft in the USA and Europe.
I started a company in Kuala Lumpur next (2004) which offered a pre-valve/steam content distribution platform for internet service providers in SE Asia.
In 2011 I started a company called One Zero, a Hong KOng based agency that represented many game publishers and it was here that I really moved from AAA to the mobile space.
In the 2010s I was starting to see more and more of the blockchain industry — it was becoming obvious that blockchain and gaming were on a collision course (we have barely scratched the surface so far) and so I started looking more closely at Blockchain.
Mary | Satoshi Club:
You’re early adopter then?😄
Joshua Galloway:
In fact, four years ago I became a VP of Business Development at Plutus VC. During this time Plutus managed a US$200 million investment fund. I also incubated a $300 million gold-backed stablecoin.
And this leads me to Lepricon…
Mary | Satoshi Club:
Long and full of events way👍
Joshua Galloway:
I promised not too much !!! 😀 Anyway — Lepricon…
Mary | Satoshi Club:
So, tell us more about Lepricon now😄
Joshua Galloway:
Lepricon is a community-governed and player-owned prediction games platform. It offers four primary channels of activity:
- You can play games (talk more about that with later questions, I am sure)
- 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.
Done!
Ok — more questions coming so let’s do this…..
D| Satoshi Club:
Definitely 😉
Mary | Satoshi Club:
A lot of features 🔥
Can we consider Lepricon a young project? For how long is it developing?
Joshua Galloway:
In the blockchain, what is young? !!
If you ask me how long I have been dreaming up Lepricon, I will tell you it goes back several years.
But it really started to take physical form at the beginning of 2020, and the steam has really been building the past four months as a team of people has come together from a huge array of industries (some blockchain, some not).
Mary | Satoshi Club:
You’re right 😂to Thank you, Joshua, for this great introduction!
Ready to start with questions from our community?🚀
Joshua Galloway:
Yes sure.
Preselected questions about the Lepricon project.
D| Satoshi Club:
Q1 from Telegram user @Highpee
777,777,777 L3P tokens are to be created through a Token Generation Event (“TGE”). You have set a hard cap of $3,777,777 and will also offer a 3 months promotional APY of 77.7% for native and exchange staking. Apart from the two Core members (Joshua Galloway: and Stephen Browne), the Lepricon Team is also made up of 7 Advisors. Is like number 7 is a special number for Lepricon. So, what is the significance of 7 in the Lepricon project? Also, with regards to the TGE event, when will it be taking place and how can your community/investors join this event?
D| Satoshi Club:
Lucky number 7
Joshua Galloway:
That’s quite long — give me a short while to digest the question…
Mary | Satoshi Club:
I know one guy, who also likes 7😂
D| Satoshi Club:
Sure!
Joshua Galloway:
Right. Well spotted!
Yes — there is a strong Irish theme in our company, just in case you had not noticed. Stephen, our CMO, and my co-founder are Irish which might have something to do with it.
Mary | Satoshi Club:
We noticed 😉
Joshua Galloway:
The advisors are just a coincidence though I have to say — there are actually other people involved not on the website yet and there are more advisors to be announced.
Mary | Satoshi Club:
The team is growing?😄
D| Satoshi Club:
Magical coincidence 😉
Joshua Galloway:
I should point out the four-leaf clover — that is very lucky for the Irish and sits at the center of our branding.
Yes. For example, we have a CMO! He will be on the website soon — as soon as he gives us the headshot to do it!
Done I think
Mary | Satoshi Club:
Have you ever seen four-leaf clover in real life?😂
Joshua Galloway:
Actually — yes — when I was young growing up in Utah there was a huge clover field across from my house and we used to go hunting for four-leaves as they are lucky.
Done
Mary | Satoshi Club:
So, you’re a lucky person 😂 let’s check your luck with the next question?😉
Joshua Galloway:
I feel honor-bound to say my Irish business partner is luckier than me!!
Mary | Satoshi Club:
Yes?
D| Satoshi Club:
Thank you! good answer!
Q2 from Telegram user @Korryl
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 a really good question that I am excited to answer.
Let me answer the question with a little backstory because this is really an important effect of decentralization and the predictions market is one where you see it in a different light than say more traditional finance.
Mary | Satoshi Club:
Of course 😄
Joshua Galloway:
An example of a prediction is this — who will win the next presidential election and the way it works is you say this person will win. And you either get it right or wrong. To place this bet you would go to bookmakers or someone who has a sportsbook. THEY will give you the odds.
In the UK this is huge — people bet on just about everything. One man once bet his three years old would play soccer for Wales before he was 20. Seventeen years later he made 1000–1.
Mary | Satoshi Club:
Yes, it’s how it’s work outside the blockchain 🙂
Wow, never heard about this story
Joshua Galloway:
The important thing here is that there is a central authority. They make the rules. They can turn you down and in some cases try and get out of the bet if things if they are worried they might lose.
Now — enter decentralized prediction markets
D| Satoshi Club:
Awesome! 😄
Joshua Galloway:
Here we are talking about peer to peer pools. One person says — I want to create a liquidity pool around this question… let me think…..
Will Harry divorce Meghan and go back to England before the end of the decade. Now — everyone else can come in and take that bet — it is a yes or no. A binary outcome.
The market sets the price and the return. No central authority can intervene. It is pure. It cannot be contested because it is all underwritten with a smart contract.
That’s really exciting stuff and when we talk about developing prediction markets that is what we are talking about. Done.
Oh — one more thing
D| Satoshi Club:
You will use some oracles for smart contracts, I guess? will it be some famous like Chainlink or something new?
Joshua Galloway:
No — we have not launched yet — late Q2 to launch the platform. Prediction markets are in the roadmap for later.
Mary | Satoshi Club:
And oracles?
Yes, all you told us really exciting 😄
Joshua Galloway:
When you aggregate all that data — the prediction market in totality — it is often one of the most accurate windows into the future. For example, the recent presidential election. The pollsters got it really wrong. The prediction markets were much closer to the actual outcome.
Now done!
Mary | Satoshi Club:
And here I agree with you😄 So, we will be able to place bets using Lepricon platform?
Or we already can?
Got it, we’re waiting 😉I want to place my first bet there🙂
Joshua Galloway:
Ok — ready for the next question.
D| Satoshi Club:
Q3 from Telegram user @johana0012
I understand that you are building a crowdfunding portal specifically for game developers and artists to promote projects and receive funding from the Lepricon community. What are the requirements that users must meet to get early access?
Joshua Galloway:
Let me answer that but begin with some initial info that leads to the answer to that question
We will launch with games that have been developed in close partnership with companies that we know very well. Later, once we see that everything is stable we will open the platform to third-party developers. I come from the gaming industry — game developers are one group of people that I know very well.
All the things that you mention we would like to bring into the Lepricon ecosystem in an orderly manner.
D| Satoshi Club:
As a person who works in the game industry, more than 20 years, could you say, those game developers very excited about blockchain technology? are they see it as a future big thing in the game industry?
Mary | Satoshi Club:
Step by step, agree😄
Joshua Galloway:
As to requirements — it varies — we will have grants for people with the idea but not the means. There will also be third parties with the means to build and this might for example change the economic dynamics between the two parties.
Mary | Satoshi Club:
Can you share your roadmap with us?😄
Joshua Galloway:
I will get to that — let me finish answering 😀
Also as we are progressing towards being a DAO within three years of launch there will be an element of community governance here as well in which games are selected (and proposed for consideration)
Roadmap:
- The commercial launch of the first game at the end of March
- Also, launch wallet and staking, etc at about the same time
- 3. Q2 Polkadot for cross-chain functionality (important for high-speed transactions
- Q3 Announce Governance model for DAO
This is some of it — is of course evolves in real-time!
Joshua Galloway:
Our deck, available from the website (lepricon.io) will always have updated information.
Yes — they are and if they are not they should be.
Let me give you one example.
If you play World of Warcraft. Or even Cafe World. They have coins. An in-game currency. But it is stored in a database. They can take it away from you if they think you did something wrong. It has no real meaning.
Now…
Imagine instead that coin is on the blockchain. It has value OUTSIDE the game. It can buy things. Now you have a real economy, controlled by the actions of the players. They have real skin in the game — pardon the pun. That is exciting. That is where we are heading.
Done
D| Satoshi Club:
I agree with everything! great example!👍 Thank you for your answer! ready for the next question?
Joshua Galloway:
Yes.
D| Satoshi Club:
Q4 from Telegram user @Arisabela
I’ve noted Lepricon will be incentivizing its community with participation incentives for simply using and joining the platform. How is the payment of these rewards? And where do you get the funds for this incentivization?
Joshua Galloway:
Yes. We will always reward behavior that increases the mobility of the economy — ie increased transactions — or the size of the community or for any of the ways you can participate. The more you use the operating token — L3P — the more you can earn rewards. And reputation. And people with good reputations will be rewarded with other benefits — lower swap fees, higher yields, etc. As to how — if you earn L3P it goes into your wallet. Simple!
One supporting point — the value of the token will be dependent upon the success of the gaming platform. We are not a finance service — we are a company with a gaming product. The more people play — ordinary people, people used to hyper-casual games and in-game transactions — the more this fires up the DeFi opportunities with L3P and thus the greater value is given to the token by the market.
Sorry — forgot to say done.
Mary | Satoshi Club:
😂 I was waiting
Where we can get L3P?
Joshua Galloway:
Ah — now that’s a good question.
Not yet. We are in the ramp-up to launch including the minting of the token. It is a fully ERC-20 compliant token so expect to see it on exchanges. Also, we will announce details of the public sale in due course.
Mary | Satoshi Club:
You will have a public sale 😄 that’s interesting, we will be waiting for updates about this from you🙂
Joshua Galloway:
The moment we can make the announcement I will be sure to let you know.
Mary | Satoshi Club:
Great, we are always here for such news😉
Ready to proceed?
Joshua Galloway:
Sure
D| Satoshi Club:
Q5 from Telegram user @konditer_rolex
The sphere of gambling is not only an adrenaline rush and a test of luck. It is a lot of money, and therefore a feeder for scammers. By placing Dapps on your platform, do you take on some responsibility or check them? Or is everything limited to “Denial of responsibility” for several pages?
Joshua Galloway:
Ok. Let me first say this. Lepricon is real. Very, very real.
Mary | Satoshi Club:
I even can feel this😄
Joshua Galloway:
As to security — all of our smart contracts are pre-audited and everything will be closely monitored. We take and will always take issues like this extremely seriously. We want to build a successful company and a thriving community and a strong brand. We want to be one of the flag bearers that carries interaction with blockchain into new territory, beyond the vibrant but still small (compared to humanity) crypto communities.
So the experience that people have is everything. Everything. And we will do everything we can to make sure the experience is responsible, safe, rewarding, and fun.
Done.
Mary | Satoshi Club:
Are audit reports public?
Joshua Galloway:
Not today but they will be. We aim to operate as transparently as is physically possible.
Mary | Satoshi Club:
Thanks! Sure😄
Joshua Galloway:
All of our smart contracts are actually pre-audited. Things in development have not been audited yet because they are not finished but they will be.
Done.
D| Satoshi Club:
Thank you! ready for the last question from part 1?
Joshua Galloway:
Go for it!
D| Satoshi Club:
Q6 from Telegram user @shabeeb6035
Among some technology key points such as Decentralized Applications, DeFi, and BPoS Blockchain, how far is L3P going in each aspect at the moment? What is your main focus in terms of technology at the moment?
Mary | Satoshi Club:
I understand and I see that you understand the importance of security 😉
Joshua Galloway:
We have a lot of things being developed in parallel.
The gaming platform and the launch games that will come with it
Guiding the token sale through its various stages which is current
The DeFi elements — the wallet, staking, etc
And other things such as marketing strategy development.
There are a lot of things happening in parallel!
Done.
Mary | Satoshi Club:
Thanks, Joshua 🚀 Really exciting times ahead 😄
Joshua Galloway:
Yes — they are — and it is a lot of fun too! I am ready for the avalanche!
Mary | Satoshi Club:
Do you ready to start an exciting live part?😉
D| Satoshi Club:
Thank you for the great answers! first part of our AMA is over! the second part is ahead! @JoshuaGalloway we will open chat for 120 seconds, our community will ask you some questions, after the chat will be closed, kindly select 10 questions from Satoshi club members!
Joshua Galloway:
Ok — go for it.
Mary | Satoshi Club:
Let’s go 🚀
PART 2.Questions about the Lepricon project from the live chat of the telegram community.
In this part, we open a chat for the crypto community for 120 seconds. Then the guests from the Lepricon crypto project choose the top 10 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 100$.
Q — 1 from a telegram user @Gutike95
The vast majority of projects that develop platforms and Dapps for games and NFT tokens are for entertainment purposes, but can their potential really be exploited even more? How far can NFT’s potential really go?
Joshua Galloway:
I am so happy someone asked about NFTs!
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.
Q — 2 from a telegram user @smelekin
I see a woman in your team and this is hard to see in DeFi projects. Can you talk about Mrs Amber Urquhart? Thx.
Joshua Galloway:
Hi Amber (she is watching, I think) — I met Amber in 2018 — my co-founder Stephen asked me to go to a crypto event in Hong Kong, being held at a WeWork — Amber was moderating a panel between the CEO of Paxos and the CEO of Bitspark. It was a great panel and we got to know each other there and I knew I wanted her to be part of the team.
If I can find 77 other women like Amber they would all be part of the team too!
Q — 3 from a telegram user @centoscu
Some projects are burning all unsold tokens but you will return them to reserves. Why did you choose this way?
Joshua Galloway:
Our fundamental model is one of buyback and make. It is important that tokens are continuously flushed through the system, there is considerable detail on this in our whitepaper which is available in our white paper at the website (lepricon.io).
Q — 4 from a telegram user @curiosoAMA
Why did they place the project Lepricon and not Lepricon? We are really used to using “coin” not “con”.?
Joshua Galloway:
Lepricon is a play on the word Leprechaun. It’s meant to sound the same when you say it out loud.
The token is called L3P because of Liquidity Pools and Prediction Platforms — L and 3Ps!
Q — 5 from a telegram user @kingcrap5
There are many people who confuse Lepricon as a casino, So can you explain to them why Lepricon is not a casino? What is the difference between Lepricon and Casino?
Joshua Galloway:
We are not a casino. Our games offer a binary outcome which you either get right or wrong. It’s a chance to say you believe this will happen and take a stake in the pool of you are correct. That is a very different type of business to a casino both practically and in legal terms.
Also — we will have a free to play version as well where no assets are at stake.
Q — 6 from a telegram user @KeymerS
Are the gamified games developed by Lepricon compatible with all hardware and software on the market? or do you really require special equipment to enjoy your services?
Joshua Galloway:
The games are available either through a desktop browser or your phone. There will be no special equipment required.
Q — 7 from a telegram user @Chinthaka93
You have mentioned that “Tokens are bought-back and recycled into constant rewards and liquidity”. This is great news for the people who are hoping to invest in LEPRICON. Could you please explain how are you going to do this buyback?
Joshua Galloway:
A significant portion of revenues into Lepricon will be allocated to buy the token back from the open market. The tokens will then be redistributed to staking contracts on the DeFi portion of the platform.
Q — 8 from a telegram @testercoin
I was a huge Max Payne player and fan in my childhood. Do you believe Max Payne can be back with current 3d and blockchain technology?
Joshua Galloway:
Could it be? Yes, and I am sure it would look glorious.
Should it be? Probably not — it was a game of its time I think.
Q — 9 from a telegram user @highpee
You recently announced a partnership with RioDefi,
a public Blockchain (RioChain) which is built on the substrate framework compatible with the PolkaDot network. What will your community stands to benefit from this partnership with RioDefi? Do you intend to leverage on the MANTRA DAO feature of POLKADOT which opens opportunities in lending, staking, decentralized governance, and interoperability? Also, Considering the fact that your token, L3P, will be issued on the Etherium blockchain, is there a possibility for Lepricon to move to the PolkaDot network with this partnership?
Joshua Galloway:
Absolutely. This is why we are partnering with RioDeFi. As a gaming platform we need instant outcomes. We are offering one minute pools, not ten or 15 minutes. Games should be fast. Payouts and withdrawals should be fast. We all know the challenges around that. Our partnership with RioDeFi will allow us to surpass 3000 transactions per second — and seriously reduce the gas fees.
Yes — there will be staking and token ownership implies community membership which invites you to participate in governance. And we know the guys at Mantra DAO very well, by the way.
Q -10 from a telegram user @kripto_mangunkusumo
How can we earn by playing games at Lepricon? Does earning come from selling game tools collection or fighting other players to win battles?
Joshua Galloway:
I am going to answer a slightly bigger question that I think answers yours in the process.
These are the things you will be able to do on the Lepricon platform:
1. Play (games) and win
2. Swap (tokens)
3. Earn (returns and rewards)
4. Collect (NFTs)
5. Fund (game development)
6. Predict
All of these activities can lead to increased holdings of L3P and system reputation. Some are won, some are earned.
Part 3 — Quiz about project
In the final part, we tested the knowledge in terms of the Lepricon project. We’ve prepared 4 questions for this part, so everyone could be a part and answer. Participants had 10 minutes to answer. 300$ was distributed between the winners.
About Satoshi Club:
English Telegram group | Russian Telegram group | Spanish Telegram group | Telegram Channel | Twitter | Website
About Lepricon:
Lepricon is a community-owned and governed prediction games platform that allows stakers, developers, and gamers to enjoy the benefits of DeFi in a gamified way, backed by a vibrant community in which all participants are rewarded for their positive contributions and interactions.
Lepricon is a Decentralised Autonomous Organisation (DAO) — an organisation represented by rules enshrined in computer code that is transparent and controlled by the network participants and not by a central authority.
