Preparing for $L3P Staking

We know that you have been waiting patiently, then impatiently, for us to open native staking on our website.

The good news is that this is finally right around the corner. We are happy with the outcomes on testnet and are ready to move it to mainnet. When we switch it on then, we will let everyone know.

We wanted to take this opportunity to update you on our staking strategy from now until June 16th.

The story so far is this:

• Our white paper stated that we would offer a minimum APR of 77.7% for the first three months after TGE. In practical terms, that brings us to June 16th.
• Our sole staking option so far has been a variable yield auto-compounding staking contract running on MANTRA DAO. We set this so that if holders staked 52 million tokens, our initial circulation on day one, the APR would be 77.7%. It is currently approximately 150%.

Will our staking be the same?

No.

Here is what is going to happen:

• Our staking pool will be at a fixed rate of 77.7% and auto compound daily.
• At the same time, we will offer our pre-sale contributors the option to leave their auto-unlocking tokens in their wallets without moving them, and if they choose to do so, they will receive weekly staking rewards calculated from an APR of 77.7%. We will release more details on our linear token unlock system in a day or two.
• Once staking on Lepricon is active, we will reduce the block rewards on MANTRA DAO down to 77.7% or just above and will actively manage the block rewards, as the pool size changes, to maintain that.

Why are we doing this?

Our guarantee was a minimum of 77.7% APR. The fact that early adopters have enjoyed an APR in the 100s is a bonus. But, as more pre-sale tokens come online, we must rein in inflationary actions given the price pressure on L3P.

77.7% is still an incredibly high yield to enjoy while waiting for our first products for launch, actions that should start to add value to the token itself.

About Lepricon

Lepricon is a community-owned and governed hyper-casual 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 receive rewards for positive contributions and interactions.

Lepricon will evolve into a Decentralised Autonomous Organisation (DAO) — an organization represented by rules enshrined in computer code; transparent and controlled by the network participants and not by a central authority.

For further information, please visit https://www.lepricon.io.

Contact:
Phil Ingram

phil@lepricon.io

LinkedIn | Website | Telegram | Twitter

$L3P Contract: 0xdeF1da03061DDd2A5Ef6c59220C135dec623116d

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