What Are the Benefits of Participating in LEC Presale
In TronBlock, early investors invest for token appreciation and dividends. We all get this part but how are they different from other games and how do they work exactly? In this article we will walk you through all you need to know about LEC tokens.
- Token Appreciation
Before we dive into the topic. Let’s have a look at how LEC tokens are issued and burnt in the game by the Bancor smart contract (Bancor Protocol). When players play games on the platform, 0.1% of their TRX will be sent to the Bancor smart contract. Upon receiving the TRX, the Bancor smart contract will add the TRX to its reserve and issue an equivalent amount of NEW LEC tokens according to its algorithm. Similarly, when players sell LEC tokens to the Bancor smart contract, it will burn them and send out the equivalent amount of TRX.
Hence, unlike other tokens whose value is merely based on consensus, each LEC token is truly backed by a corresponding TRX value. To be more specific, in the presale, the initial supply of LEC is 100,000,000 with the price of 1 LEC = 0.1 TRX. If the hard cap is met, according the Bancor algorithm, only when more than 0.1 TRX is sent to the Bancor smart contract, will the 100,000,001st LEC be issued, meaning the LEC price will lift from 0.1 TRX to more than 0.1 TRX. Similarly, the price to issue the 100,000,002nd LEC is higher than that of the 100,000,001st LEC, leading to another upward movement of the LEC price. When the price climbs high enough, it’s time for you to sell LEC for TRX.
Note: LEC tokens are the only tokens entitled to dividends from all games on the LEGACY GAME platform and will only be available by playing games on the platform after the presale. Moreover, although the Bancor smart contract can provide high enough liquidity for LEC tokens, we are not ruling out the possibility to have LEC listed on external exchanges in the future regarding the transferrable nature of the LEC tokens.
For the long run of the LEGACY GAME platform and in the interest of our players, platform incomes will be returned to players in the form of LEC tokens and dividends. In TronBlock, the platform edge is 1.49%- 1.3% (decreases as blocks are stacked), which is the lowest in all competitive platforms (TronBet 1.5%, TronDice 2%). Among the platform edge, 6.7% -7.7% will be sent to the Bancor protocol to mine LEC tokens for players, 60.4% -70% will be shared as dividends to all LEC holders. Hence the actual, dev fee is 0.49%-0.3%. Here is a comparison of TronBlock, TronBet and TronDice.
2.1 Another way to compare the house edges:
Multiplier of the 50% Win Chance in TronBlock is 1.9702x to 1.9740x.(increases when on a win streak)
Multiplier of the 50% Win Chance in TronBet is always 1.97x.
Multiplier of the 50% Win Chance in TronBet is always 1.96x.
2.2 Freeze LEC for Dividends
After TronBlock goes mainnet live, players will be able to freeze their LEC tokens for dividends on the game page. Dividends will be paid out daily at UTC 0:00 based on your LEC frozen. LEC will be frozen for 72 hours.