LUCKY ($LUCKY) AMA @CryptoStarship 🚀 Recap
Token: $LUCKY ( Bsc Chain) 💎
The world’s first completely decentralized lottery on Binance Smart Chain
Twitter: https://twitter.com/BscLucky
Telegram: https://t.me/luckytokenbsc
Website: https://luckytokenbsc.com/
Announcements Channel: https://t.me/LuckyTokenBSC_Ann
Summary: 📈
Price: TBA
Mcap: ~$200k for launch
Working Product: Yes
Audit: Undergoing prior to Launch
Team: Familiar in the space and to the Starship Crew.
Expected transparent Fair Launch.
Advantages: Truly automated and decentralized lottery. Smart maths behind. Ownership to be renounced after launch. Fair Launch.
Relevant Info: 💰
Launch date to be announced.
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Telegram AMA Conversation Recap: 📝
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:00]
$LUCKY AMA starting now. We’ll mute the chat
Oriental | @cryptostarship, [12.06.21 11:00]
🤝
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:00]
Chat is muted
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:00]
Welcome @mrock187 and $LUCKY crew, nice to have you with us today in the @cryptostarship.
M Rock, [12.06.21 11:01]
Good to be here thanks for having us
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:01]
We are all so hyped and excited about $LUCKY!
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:01]
Please take a moment to introduce yourself and the core team members behind $LUCKY and tell us about your background. I know you guys are all devoted and hard-working.
M Rock, [12.06.21 11:04]
So I am the founder of LUCKY. Working with me is Oriental @Mirror1 which I expect most of this chat is familiar with as well as Marcus, @fkuscammers, both of which are providing support on the marketing angles and any content creation or odd-jobs that need to be done.
Myself I am actually from the world of traditional finance. I work with the team of Nyan Finance helping to build the decentralized fund management system as well as assisting with a few VCs in doing research and analysis.
M Rock, [12.06.21 11:04]
We’ve been hard at work together on LUCKY for about a month now and are excited to bring it to market.
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:06]
[In reply to M Rock]
That’s awesome! very nice and full background. A lot is expected from your project, to which evidently you have invested a lot of time and capital.
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:06]
So can you briefly explain in layman’s terms what is $LUCKY all about?
Oriental | @cryptostarship, [12.06.21 11:07]
We sure did. For the sake of investors and other people that are in and wanted to feel safe — I doxxed @mrock187 privately
Oriental | @cryptostarship, [12.06.21 11:07]
Won’t find safer and more delivering project than this. Happy to be aboard!
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:08]
[In reply to Oriental | @cryptostarship]
Investor safety is now of the utmost importance, I couldn’t agree more, thanks for all the efforts mate.
M Rock, [12.06.21 11:12]
$LUCKY is designed to be a decentralized lottery. I want to briefly talk about the market landscape since you may have noticed quite a few ‘lottery’ tokens coming to market lately. I say lottery in quotations because when you look at what they are doing they are more raffles with minimum thresholds or have some kinda of centralized aspect to them. I have yet to see a project that comes close to accomplishing what we are doing.
What makes $LUCKY different is that we have created the logic to be able to make a true lottery in the sense that everyone should be familiar with lotteries. The important aspects that $LUCKY brings to the table is that if you hold more tokens you have a better chance of winning and that the entire process is decentralized.
So in simple terms, what $LUCKY is, is a decentralized lottery. For every 888,888 tokens held you get one ticket which never expires and qualifies you for every drawing. Token transactions are taxed 8%, 2% of which goes to funding the lottery (2% is RFI yield, 2% burned, 2% to liq). We have 2 lotteries. The lucky draw which pays out when that pool has $888 of BUSD and the jackpot draw that pays out when the pool has $88,888. The payout is handled by the contract. Users don’t have to do anything. All the logic executed with each transfer so there is no interaction required once you buy.
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:14]
[In reply to M Rock]
Very simple, elegant and intuitive project design. I think your reply answered many other questions along the way.
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:16]
I was curious to understand how exactly the winners are selected once a lottery pool is filled. Do you employ a smart contract or use a Chainlink VRF (verifiable random function) for a completely fair and transparent lottery winner selection process?
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:18]
[In reply to M Rock]
It’s very important with so many “fake lottery” projects out there to make people understand why yours stands out
M Rock, [12.06.21 11:22]
Great question. So this is the tricky part. To put it simply the EVM sucks for making a lottery. Logically you would have tickets, wallets would get attached to those tickets, you would pick a winning ticket at random, and to find the winner you would loop through those tickets to see who has the winning ticket. Except you can’t do that with EVM because if you had more than 20 or so holders you would run out of gas.
So what we have to do is find a winner backwards. What that means is we know how many tickets each wallet has in a dictionary. We pick a random wallet then perform a test of how many tickets they have vs a randomly generated number up to a max scaling mechanism. What this means is that when the pool fills and the lottery triggers it might not find a winner on the first transaction. It could take multiple transactions. In testing with the scaling factor we use it takes about 12 transactions on average to find a winner.
To generate those random numbers we don’t actually use chainlink VRF because that would be costly. Instead we use accepted mathematical algorithms that can generate random numbers with random inputs. Those random inputs are the size of the liquidity pools of a couple cake pairings like WBNB:BUSD as well as a couple others. This way we don’t have to pay LINK and also it would be prohibitively expensive to manipulate the drawing.
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:25]
[In reply to M Rock]
That is very intelligent approach, literally could be published too.
M Rock, [12.06.21 11:25]
This is also why you haven’t seen a true lottery come to market. I have a master’s level background in statistics. It isn’t easy to come up with something like this and requires a firm understanding of mathematics 🙂
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:26]
[In reply to M Rock]
That’s where I was going, I’m an engineer so I can see the depth of knowledge in your response, you guys really know what you’re doing
Oriental | @cryptostarship, [12.06.21 11:28]
[In reply to Satoshi Nakamoto | @cryptostarship]
That’s why we are here. Top tier level. We believe that we can make something special and easy for everyone to use
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:28]
So you mentioned there are two lottery pools, a wallet can win $888 in BUSD or $88,888 in BUSD when the pools are filled. Do these pools start with zero funds and fill according to the trading volume? from the 2% tax you mentioned, does 1% go to the $888 pool and the rest 1% to the $88,888 pool?
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:28]
[In reply to Oriental | @cryptostarship]
[ GIF ]
M Rock, [12.06.21 11:31]
[In reply to Satoshi Nakamoto | @cryptostarship]
The 2% tax goes to a general pool. Once that pool reaches $1500 the contract starts searching for a winner. Meanwhile each transaction is continuing to fill that pool. Once a winner is found for the lucky draw that wallet is sent $888 BUSD and whatever is remaining in the pool is then held for the jackpot draw. The jackpot draw triggers at $88,888.
So simply put the lucky draw will always be $888, but the jackpot draw could grow larger than $88,888. There is a very very very small chance that it can grow significantly larger on the fringe case that a winner isn’t found after thousands of transactions but that chance is extremely small. Personally I hope it happens though, because it would be very exciting to watch that jackpot grow to a large amount before a winning wallet is found.
M Rock, [12.06.21 11:32]
Not to say $88,888 isn’t large ha! It is literally millions of ROI over 1 ticket.
Oriental | @cryptostarship, [12.06.21 11:34]
To put it in even more simple way — everyone will have a chance to participate in the lottery. Completely fair! And can be life changing for someone!
Oriental | @cryptostarship, [12.06.21 11:34]
That’s the key
M Rock, [12.06.21 11:34]
[In reply to Oriental | @cryptostarship]
This is why he is marketing and I’m the math nerd 🙂
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:34]
[In reply to M Rock]
haha exactly, the rewards in both pools are huge compared to how much one needs to hold for 1 ticket. So to give a better perspective to the community, what is the total supply of $LUCKY? to understand what percentage one needs to hold of total supply for 1 ticket
M Rock, [12.06.21 11:36]
Total supply of $LUCKY is 888,888,888,888,888 so 1 ticket (888,888 $LUCKY) is about 1/1bn of supply. Even at a 200m marketcap for $LUCKY this comes out to about $0.20/ticket.
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:39]
[In reply to M Rock]
Wow, really outstanding, literally there is no reason why one shouldn’t hold $LUCKY, if it’s much cheaper even than BSC gas fee. And I like your deflationary tokenomics, users are encouraged to hold correct? 2% goes to liquidity to elevate the price floor, and each transaction and minute that passes brings the holders one step closer to winning the prize and increasing their chances of doing so by the constant burning mechanism
M Rock, [12.06.21 11:39]
[In reply to Satoshi Nakamoto | @cryptostarship]
You’re hired. I couldn’t put it better myself.
Oriental | @cryptostarship, [12.06.21 11:39]
[In reply to M Rock]
Sorry @SATOSHlNAKAMOTO all spots are filled. Haha
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:40]
[In reply to Oriental | @cryptostarship]
haha gonna have to take Oriental’s place
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:41]
but seriously, the hype is real, I’m genuinely excited about the project
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:41]
I wanted to give even more perspective to all investors
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:42]
Let’s imagine a typical trading day with $10 million BUSD in trading volume
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:42]
2% of that is 200k BUSD
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:43]
so basically that would mean there would be 126 lottery draws for $888 and 1 lottery draw for $88,888
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:43]
that is really mind-blowing
M Rock, [12.06.21 11:43]
That’s what I just calculated too.
M Rock, [12.06.21 11:43]
That is a lucky draw every 12 minutes or so I think.
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:44]
unique. most lotteries have draws every Wednesday or Saturday for example, and investors really get bored in such a fast-paced market, but that’s not the case with $LUCKY
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:44]
you guys managed to match the fast pace of the crypto market to your lottery project
M Rock, [12.06.21 11:45]
It was a big goal of mine to get the numbers right so that investors have a reason to hold through yield and delfation, but also keep the lottery exciting so I appreciate those words.
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:46]
[In reply to M Rock]
It’s the truth.
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:46]
Now to give more confidence to investors, I’ve heard you have audits planned, would you be able to tell us a bit more in that respect?
M Rock, [12.06.21 11:48]
I’ll just say that we are in contact with auditors currently and will not launch without passing audit.
M Rock, [12.06.21 11:48]
We will make the report public when audit is complete and in our hands.
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:48]
fair enough! that’s very important
I will leave the project website here for people to take a look by the way
https://luckytokenbsc.com/
M Rock, [12.06.21 11:49]
This is also important to us because we plan to renounce ownership of the contract at launch and it would be unwise to do so without passing an audit first.
Oriental | @cryptostarship, [12.06.21 11:49]
After positive audit report — ownership renounced.
Oriental | @cryptostarship, [12.06.21 11:49]
[In reply to M Rock]
Exactly. Everything will go by the book :)
M Rock, [12.06.21 11:49]
We will also be either locking or burning liquidity. Haven’t 100% decided which yet.
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:49]
[In reply to M Rock]
makes sense, we’re at the same page
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:50]
[In reply to M Rock]
ok that was my next question, because I see 30% burned, 40% presale, 30% liquidity. Were you referring to that 30% burn?
M Rock, [12.06.21 11:51]
30% is burned, this adds to the deflationary aspect of the tokenomics because that burn wallet will get a piece of the RFI yield. What I’m referring to is the liquidity. We will pair 30% of the supply vs $87,500 BUSD to launch. The LP generated from that is what will either be locked or burned.
M Rock, [12.06.21 11:51]
This means launch is approxiately a $200k marketcap based on circulating supply.
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:53]
[In reply to M Rock]
I see now, makes sense. plus 200k market cap is indeed very low with a lot of upside potential for such a project.
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:54]
For such a lottery project, as we demonstrated above trading volume is key, as it keeps filling the lottery pools. How do you plan to maintain sufficient volume to attract more users? @Mirror1 can jump in as well, I know you guys have some unique ideas
Oriental | @cryptostarship, [12.06.21 11:56]
[In reply to Satoshi Nakamoto | @cryptostarship]
Heavy marketing and exposure to keep the traction. We are creative with a lot of exciting stuff planned in the pipeline. I can tell You that we will not stop with regular CT influencers and basic shilling. Expect some heavy ammunition and spicy surprises/collabs
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:57]
[In reply to Oriental | @cryptostarship]
[ GIF ]
Oriental | @cryptostarship, [12.06.21 11:57]
We want people to earn money.. while also having a good time. I’m very excited
M Rock, [12.06.21 11:58]
I want to talk a little bit about the launch itself and presale in this regard too. We are taking a wide and shallow approach with presale. I’ve seen far too many projects which were tanked in the early days by giving too much power to too few hands. Then trading volume dies because a ton of bagholders who won’t sell or buy more were created.
What we will do differently is spread tokens across a ton of people. No wallet getting more than 0.08% of the supply in presale. Also presale tokens are vesting. They will all be received by participants (no claims needed), but will vest in their wallets. 10% at TGE and 5% daily (block by block) thereafter. This should give investors confidence that no one will be dumping on their heads and should keep everyone engaged rather than creating a class of winners and bagholders.
Satoshi Nakamoto | @cryptostarship, [12.06.21 11:58]
[In reply to Oriental | @cryptostarship]
Yeah, I’m even more hyped and excited than I was at the beginning of the AMA
M Rock, [12.06.21 11:59]
In addition at launch there will be additional anti-whale mechanisms put into place that I won’t expand upon here so no one has time to prepare means to get around them.
Oriental | @cryptostarship, [12.06.21 11:59]
Completely fair!
Satoshi Nakamoto | @cryptostarship, [12.06.21 12:00]
[In reply to M Rock]
great job! everything well thought, no fuck ups and failed launches with bots/whales, I like to hear this where everyone can literally get a piece of the pie.
Oriental | @cryptostarship, [12.06.21 12:00]
[In reply to Satoshi Nakamoto | @cryptostarship]
That’s the key man. There is a lot of shit in the space already. We are here to make a difference
M Rock, [12.06.21 12:00]
If it works as planned a lot of people will make some money, rather than just a handful making a lot of money.
Satoshi Nakamoto | @cryptostarship, [12.06.21 12:01]
I won’t ask the classic wen launch, wen moon, wen lambo, unless you wanted to give us already a presale/launch timeframe. for the rest of the announcements, I urge everyone to join the $LUCKY announcement channel
Satoshi Nakamoto | @cryptostarship, [12.06.21 12:01]
https://t.me/LuckyTokenBSC_Ann
M Rock, [12.06.21 12:01]
[In reply to Satoshi Nakamoto | @cryptostarship]
[ 🚀 Sticker ]
Satoshi Nakamoto | @cryptostarship, [12.06.21 12:01]
[In reply to M Rock]
exactly.
Satoshi Nakamoto | @cryptostarship, [12.06.21 12:01]
Well, that’s all from my side. I’m excited for the upcoming launch and I wish you success. Thanks for your time and for being with us in this AMA. Do you have any final words for the community?
Satoshi Nakamoto | @cryptostarship, [12.06.21 12:02]
I will then open the chat for everyone to ask their questions
M Rock, [12.06.21 12:04]
I’ve just been overjoyed by the response we’ve been getting over the last week. A lot of positive feedback in DMs. I’m excited about this and it makes me so happy to see just complete strangers just as excited about it as I am. I can’t wait to launch and see where $LUCKY goes.
Thank you for having me today I’ll be able to stick around for another 20 mins or so to answer more questions if anyone else has them. If I don’t get to you please join our community chat and I can answer them there at a later time.
Satoshi Nakamoto | @cryptostarship, [12.06.21 12:04]
[In reply to M Rock]
[ GIF ]
Satoshi Nakamoto | @cryptostarship, [12.06.21 12:05]
opening the chat
Satoshi Nakamoto | @cryptostarship, [12.06.21 12:05]
everyone, please feel free to ask your questions for @mrock187 for the next 20 minutes or so
Aimen, [12.06.21 12:06]
Anything on the date of the presale/launch?
Pablo Hernandez, [12.06.21 12:06]
Hey, thank you for doing this AMA I am very excited for this project, you guys have a very solid and strong foundation for this awesome project, my question is how will the 500 wallets be chosen for presale? @mrock187
Akshit Bansal, [12.06.21 12:07]
@mrock187 via what all platforms are you guys going to promote the project ?
For eg tiktok/insta/etc.
M Rock, [12.06.21 12:07]
[In reply to Aimen]
Stay tuned man. Once we know the timeline of audit we can start announcing presale and launch details. Plan is the coming week though.
R P12, [12.06.21 12:07]
This is not the question but I have summarised some of the unique points about LUCKY. Add me if i missed anything
1). Every one has fair chance to be part of LUCKY draw and Jackpot
2). Presale after Audit
3). Ownership renounced after the launch
4).0.08% limit per wallet
5). Fair chance for every one to be part of Whitelist
6). with the increase in volume number of draw’s are also high
7). This project doesn’t look like a pump and dump token unlike the ton of meme tokens.
8). I haven’t seen any project with such a meticulous plan even before the launch.
9). Team is Doxxed as well
Good luck to your project and look forward to be part of LUCKY
Satoshi Nakamoto | @cryptostarship, [12.06.21 12:08]
[In reply to R P12]
[ 😊 Sticker ]
M Rock, [12.06.21 12:09]
[In reply to Pablo Hernandez]
Plan is via whitelist. We will put out a form and collect responses from the public then contact winners to contribute. Tokens then sent via bulksender. We have some allocations reserved for influencers and other marketing angles, but by far most will be for the community.
HotWhellsDriver, [12.06.21 12:09]
I found this channel accidentally, in the middle of some ama, and now i cant wait for presale $LUCKY
M Rock, [12.06.21 12:10]
[In reply to Akshit Bansal]
Focusing on crypto influencers and tiktok mostly. We have a few wild ideas in the works as well that I won’t speculate on. You will be seeing $LUCKY in a lot of places when this launches.
Pablo Hernandez, [12.06.21 12:10]
[In reply to M Rock]
Thank you, also the form will be sent out to the lucky bsc community chat?
R P12, [12.06.21 12:10]
The only question i have is will people really sell their token with so many positives are with this project? :)
M Rock, [12.06.21 12:11]
[In reply to Pablo Hernandez]
It will be in the chat and announcements channel. If you are in https://t.me/LuckyTokenBSC_Ann you won’t miss it. We will also keep it open as long as possible to accomodate time zone differences.
M Rock, [12.06.21 12:11]
[In reply to R P12]
Everyone has a price! 🙂
R P12, [12.06.21 12:11]
[In reply to M Rock]
:)
Akshit Bansal, [12.06.21 12:11]
[In reply to M Rock]
👍🔥🔥🔥
Whale wannabe, [12.06.21 12:14]
Today one more lottery coin ARAID Launched.
How are we different from it bro?
M Rock, [12.06.21 12:14]
Also on marketing I want to talk a little about the logo and name. We have a lot of presence in the western hemisphere and I wanted to make this as approachable to the world as possible. LUCKY is one of the few english words understood almost everywhere. Also the logo is something that should be recognizable in many Asian countries 🙂
M Rock, [12.06.21 12:16]
[In reply to Whale wannabe]
I think that one launched about a week ago. They, like many others, have a centralized process for their ‘big draw’, but also they ran into the limitations of the EVM like anyone else and came up with a short cut. Their particular short cut is a minimum threshold to win and also additionally paying out to buyers that day (mostly). With $LUCKY it is a fair lottery. There are tickets. If you hold more tickets, you have a better chance of winning. Those tickets also never expire, it doesn’t matter when you bought. Also the whole payout process and selection process for $LUCKY is decentrazlied. The token contract handles everything.
END
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