An In-Depth Understanding of LeCube Will Help You Profit on Blockchain Easily
LeCube is the NFT creative community, also known as a blockchain version of Lego. You can use Cubes to compose in LeCube to create NFT assets wholly born from the blockchain with traceable copyright. The entire NFT creation process is carried out on the blockchain. Every element of the final project is a native blockchain asset.
1. Product module and function overview
What are Cubes
It is essential to clarify the primary assets in LeCube — Cubes of eight different colors — before understanding the various modules and their functions. The eight colors are: white, red, orange, yellow, green, blue, and purple. As the basic materials for composing NFT creations, Cubes of each color are valuable assets — individually. In addition, LeCube has the platform token LCT, which is meant to motivate users to create.
Main Functions
LeCube products are classified according to their functions. They can be divided into five modules: the Pool, the Compose, the Copyright, the Market, and the Profile.
Pool
You can stake Tokens that the community in the Pool has confirmed to obtain Cubes.
Compose
In Compose section, you can use Cubes to build NFT creations. After the creations are on the chain, you will be able to obtain LCT rewards.
Copyright
In the Copyright, you can open your NFT creations’ copyright to other users. Others would pay you LCT to gain the copyright — number of Cubes in this specific creation * 15LCT — to adopt and further use your creations.
Market
In the Market, you can upload the NFT creations on the blockchain and sell them, for which you will get LCT income after the transaction is successful.
Profile
You can view and manage all LeCube assets you own in Profile.
2. Pool Mining: A more community-based distribution
After you log in to LeCube, you will see all the NFT creations composed by community users on the Home page.
Where Do NFT Creations Come from?
First, you need to obtain the Cubes used for NFT creation. To get Cubes, you need to go to the Pool interface.
Yield
LeCube allows multiple tokens mining. In the Pool, you can stake any tokens that are eligible for mining. No centralized organization determines the output efficiency of block pool mining but the Market. The number of Cubes you could gain depends on the proportion of the staked value of the currency you stake in the Pool.
New Stake Tokens Voting
If you can’t find the token you want to mine, you can initiate an application to the pre-selection contract. To submit a new token, you need to enter the contract address of the submitted token. The community will vote for their preferred tokens by staking them. The top five tokens in terms of the TVL — Total Value Locked, which remain so for over 24 hours, will obtain mining rights. Lack of institutional intervention makes such a community-based token listing model fair and transparent.
Compose: Create your NFT creations and gain LCT
After obtaining a sufficient amount of Cubes, you can go to Compose and start creating.
How to Compose:
First, select the color of Cubes you have already obtained, and place a Cube with a left-click of the mouse. You can set and arrange Cubes according to your vision of how you want to compose your NFT. If you make a mistake and want to reverse it, you can click the right mouse button to remove any Cube that has been placed.
After you finish creating, you need to perform an essential operation — store your creation on the blockchain.
How to Gain LCT
After your creation is stored on the chain, it will become a unique NFT asset, and you will gain LCT for it afterward. The number of LCTs that can be earned equals the number of Cubes you use for the creation * 100.
LCT Distribution Ratio
Creators: 85%,
LeCube: 5%,
Rewards Pool: 4%,
Liquidity Rewards: 4%.
Assuming that your NFT creation uses 100 Cubes, the number of LCT rewards you can get as the creator after the composition is on the blockchain is 100*85%=85 LCT.
*Note: Blockchain storage requires a certain amount of GAS fee. After the creation is stored on the blockchain, it can no longer be composed.
Creations Management
You can also manage works in Compose. You can choose “Store onto Blockchain,” “Continue Building,” or “Destroy Canvas” to handle the work before it is on the chain. After the creation is on the chain, you can open copyright so that other creators could adopt your composition. In addition, you can also choose “Donate,” “Put on Sale,” or “Decompose” your work. However, note that to decompose your NFT requires consuming LCT. If your NFT contains 100 Cubes, the consumed LCT would be 100*100=10000 LCT. Also, note that it can no longer be recovered after decomposition.
Copyright: Community Collaborative Creation
After NFT works are copyrighted in the Compose section, you can adopt them to your creations in the Copyright section. If you have opened your creations’ copyright, others can also adopt it through Copyright. You can recall the copyright at any time. After being recalled, the creation will no longer be adopted in other creations, but it will not affect the works that have used this copyright previously. If you put a particular creation for sale in the Market, you won’t be able to open copyright for it.
Your Gains
When someone else reproduces your NFT work, whoever does that would need to pay a certain amount of copyright fees. The standard for copyright fees is the number of Cubes contained in the NFT creation * 15 LCT. If your work includes 100 Cubes, others need to pay 100 * 15 LCT = 1500 LCT when adopting it. LeCube collects 3.75% of this sum, so you will eventually get 1443.75 LCT copyright fees.
When you adopt someone else’s creation, you also need to pay the same copyright fee. You can pay multiple copyright fees at once. When creating, if you adopt creation copyright once and put it on the blockchain, it will consume according to the rate of one copyright adoption.
This model of adoptable creations created a precedent for community co-creation. The brainstorming of all participants may eventually create an enormous NFT artwork. The LCT reward mechanism enables every user to be financially motivated for their contributions. Thereby, it attracts more people to participate in the community and allows your work to be displayed in front of more people. This is a significant attempt to achieve large-scale collaboration.
Market: NFT Works Trading Place
In addition to the Open Copyright and Adoption concepts mentioned above, you can also put your work directly on the Market for sale to obtain LCT income. You can purchase others’ creations on the Market as well.
You can view the compositions of other authors on the Market and purchase your favorite NFT works by paying ETH. Other users can also purchase your pieces in the same way.
The Market mainly provides you with channels to obtain more Cubes or LCTs. You can use ETH to exchange for needed Cubes or LCTs. The transaction data comes from the CUBE/ETH trading pair on Uniswap.
Profile: Manage Your FT and NFT Assets
The Profile is a comprehensive page where you can manage all your assets in LeCube, whether it is FT or NFT.
You can see a part of the Profile interface on the picture below:
In Profile, you can view all your creations, including those in progress, composed, or successfully stored on the blockchain. The copyright blueprints that are not on the blockchain can continue to be managed. At the same time, the works that have been on the chain can be listed for sale or opened for adaption to obtain LCT income.
Suppose you want to continue to compose unfinished creations while realizing that you do not have enough Cubes. In that case, you can check your Cubes Inventory in My Cubes and apply the method introduced in the previous part of the article — conduct mining in the Pool or use ETH to exchange randomly colored Cubes in the Market — to obtain more “Cubes.” After that, you can continue to compose in the Compose section.
If you want to check the number of LCTs you own, you can check it in My LCT. You may even check all your income details there. The sources of LCT acquisition are:
- Obtaining LCT rewards through listing your creations on the blockchain
- Opening copyrights to collect copyright fees.
- Direct sells
- Exchange with ETH
You can check the number of all your adoptions and the remaining copyrights you can adopt in My Copyright. If you want to adopt more works, you can purchase the adoption opportunities at the Copyright center as mentioned above.
Another function in the Profile is My Tags. You can see the latest developments of the creations you have added to favorites or directly add your favorite pieces to the collection with one click.
Conclusion:
The entire NFT creation process is carried out directly using the Ethereum network. The completely on-chain process allows data to be completely preserved. This also allows decomposing the NFTs back into Cubes with better liquidity. This two-way convertibility feature brings better liquidity to LeCube’s NFT. It also provides a promising application scenario for FT, making the two — NFT and Cubes (FT) — continuously promote each other.
In LeCube’s ecology, every element, creation, or process itself is a native blockchain asset with a code that other applications can recognize. The NFT assets created with Cubes can be transferred into other applications, such as The Sandbox and Decentraland, at any time and derive financial applications such as leasing or mortgage lending, thereby forming a free chain economy.；
About MixMarvel
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