Interview with Luckchemy

Luckchemy

Luckchemy has a vision of transmuting the existing gambling paradigm into decentralized, trustful and provably fair system driven by off-chain cryptography and blockchain technology.

weblink: https://ico.luckchemy.com/

Here is the answers to my questions from team member on Date: 24th April 2018.

1. Explain projects in 5 words / one line. :- Luckchemy is provably fair online gambling platform
2. Legal opinion from legal entity about the project. :- Legal entity where the initial corporate structure will be incorporated — Gibraltar — ICO base Curacao — holdings company + the holder of the first gambling license
3. Value proposition of the project :- Luckchemy will bring fairness and transparency into all fields of online gambling market.
4. Who are the Closest competitors? :- TrueGame, FireLotto, TrueFlip, TruePlay, FunFair, CashBet.
5. What is the Unique feature? :- Luckchemy will become an all-in-one fair and transparent gambling platform with incomparably high payouts, offering 3rd party publishers integration and fullstack White label solution for anyone willing to rapidly star its own blockchain-based gambling product.
6. Explain about Monetization. :- Luckchemy will generate revenues from 3 directions: (1) some percentage from own games ticket sales, (2)Share of 3rd party publisher revenues,(3) White label solutions sales and percentage of their revenue
7. What is the Total number of team member including Advisor?:- 12 team members and 5 advisors on a current moment
8. How team members are getting paid / Salary? How much? :- Team members get fixed salary which is sponsored by initial investments. Also, they get % from ICO raised funds and 1.5% of LUK tokens issued
9. Lead developer / Risk of losing Lead developer and backup plan. :- Lead developer is a part of our team for a long time, and has proved his dedication for the project many times. Also, we have strong team of Senior level devs which will be able to replace him in case of unforeseen circumstances.
10. Vesting of token / Token economics / tokonomics :- Token will serve as universal payment tool for all Luckchemy platform participants: players, 3rd party publishers and White label clients; Also, LUK token will grant it’s owner right to participate in Holder’s Draw — specific monthly lottery for token holders, and in Feedback Polls — voting for further product development direction; Luckchemy will accept bets in LUK tokens and ETH — that will help to keep token’s price stability — we’ll always have ETH backup reserve for supporting it.
11. Intended risk in future / Plans to address the risk. :- Risks in future — new rng & blockchain regulation Plans to address the risk: (1)Working with the jurisdictions which are preferable for both types of activities, (2)Gathering the relevant legal advice on the updated information to be full compliant
12. Proof Of Concept & Minimum Viable Product. (POC & MVP):- MVP is released, can be checked by this link: https://mvp.luckchemy.com/
13. What is the Marketing strategy. :- To build up strong and large user audience in shortest terms, we will use following marketing channels:(1)Display advertising, (2)Influencers on Youtube, Twitch, Reddit etc. (3)Affiliate marketing, (4)Referral campaign , (5)Email marketing
14. Plans to Listing in Exchanges. :- We’re currently negotiating with number of listings, here are some of them: https://exmo.me https://bittrex.com https://www.kraken.com https://www.bitfinex.com https://hitbtc.com/ https://www.binance.com/ https://yobit.io/en/ https://cex.io https://bitflyer.com https://coincheck.com The list is not final yet and will be added with new ones.
15. Business Development Plan. :- On current moment: — (1)RNG algorithm ready; (2)MVP lottery released; (3)Smart contracts are ready and may be checked on Github; (4)Scratch cards are on testing stage, will be released soon;
16. How Blockchain is used/useful in project.: Luckchemy RNG algorithm will use combination of server and client seeds while creating winning combination, which will provide transparency and provable fairness for any player. For daily lottery, system will use block hashes from LUK chain in generating winning numbers (server seed hash will be published in purpose of providing transparency). For Holder’s Draw, there also will be used LUK chain snapshot in choosing winning token to provide full randomness and fairness for all token holders.

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