- L3P Club to go live with the first pre-sale opportunity
- Exclusive for long-term holders of L3P with bonus allocations
Leprion, the blockchain-driven ecosystem of DeFi, games, and NFTs, recently announced the first deal flow for their L3P Club: an exclusive community in which holding L3P can gain members access to pre-sale tokens for upcoming projects related to games, NFTs or the Metaverse.
But since the original announcement, a lot has changed, so the Lepricon team has updated the program’s structure. This article will explain how it will work.
Tiers
There will generally be three tiers, although that might change for individual projects.
Tier 1: Hold 1,000,000 or more L3P on Leprichain (where it earns a 7.7% yield)
Tier 2: Hold 500,000 L3P or more on Leprichain but less than one million.
Tier 3: Hold 100,000 L3P or more on Leprichain but less than 500,000
All tiers will be required to join Lepricon’s Discord server and verify their holdings via the bot so that they can join the exclusive L3P Club channel.
Allocations
Tier 1:
Anyone in tier 1 will be guaranteed an allocation. The amount allocated to tier 1 from the entire pre-sale allocation will be divided into units as follows:
Hold 1,000,000 L3P for less than three months = 1 unit.
Hold L3P for more than three months but less than six = 1.5 units
Hold L3P for six months or more = 2 units.
After the application and KYC process is complete, the Lepricon team will add up the units for all applicants and divide the allocated amount by the number of units based on the application pool. The arithmetic outcome will be published in the L3P Club Discord Channel.
Tier 2 & 3
Tier 2 applicants will be eligible for a draw for 1 unit, and tier 3 holders will be eligible for a draw for 0.5 units, as calculated by the number of tier 1 applicants. All successful candidates will be entered into a random.org draw and continue to draw until the allocation for tiers 2 and 3 is complete.
Example
Project X allocates 30,000 USDT for the L3P Club. After consulting the group in the L3P Club Discord Channel, Lepricon elects to allocate 15,000 USDT to tier 1 and the remaining 15,000 USDT to the tier 2 and 3 draws.
Tier 1
After the application process, the tier one applicant pool looks like this:
7 with 1,000,000 L3P or more recently required. They each receive 1 unit (7 in total)
4 with 1,000,000 L3P held between 3 and 6 months. They each receive 1.5 units (6 in total)
3 with 1,000,000 L3P held for 6 months or more. They each receive 2 units (6 in total)
That makes for a total of 19 units. 15,000 USDT divided by 19 is 789 USDT per unit, guaranteed.
Tiers 2 and 3
Tier 2 applicants will receive 789 USDT (or one unit) if drawn in the lottery. Tier 3 applicants will receive 394 if drawn in the lottery. Lepricon will draw wallet addresses, one by one, until the remaining 15,000 USDT is allocated.
This means that the number of successful applicants will be between (15000/789) 19 and (15000/394) 38. The team will post the lottery results to the L3P Club channel for transparency.
Projects
Lepricon has already identified the first two projects participating in the L3P club and will be announcing the first one in days. They will also make an announcement early next week about a new partner, handling the KYC process.
As the L3P club grows in size, Lepricon’s bargaining power with projects will increase as will its ability to secure larger allocations.
About Lepricon
Lepricon is reimagining the possibilities for entertainment through blockchain technology and seeking to establish the general acceptance of player-owned economies in games. The Lepricon team believes that gaming can and should be the first killer-on ramp to mainstream adoption, and their stated mission is to catalyse this outcome.
Lepricon’s activities break into three distinct tracks; technology, entertainment and DeFi.
Technology:
At the core of this strategy is Lepricon’s own high-speed, gas-less Ethereum-compatible side chain, Leprichain. The team is 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.
Entertainment:
Lepricon is developing several in-house entertainment activities that operate on Leprichain, including a collection of arcade and carnival games at Lepricon City. The first games are straightforward, but the team will develop more complex games that demonstrate Leprichain’s capabilities over time. They will leverage these demonstration games to encourage third party dApp developers to deploy on Leprichain.
DeFi:
Leprichain and all of the dApps that run on it are powered by a 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 launched toward the end of the fourth quarter of 2021.
For further information, please visit https://www.lepricon.io.
