LGCY AMA @ Ferrum Network
A recap of the AMA on 26 of January 2021 at Ferrum Network’s Telegram Room.
- Justin Wai’au — Co-Founder LGCY Network
Hello, thank you for having me here. We’re a big fan of the Ferrum community and project! My name is Justin Waiau, I’m from Hawaii and I am co-founder of LGCY Network. My background is in the import/export businesses. LGCY Network will be initially a fork of Tron however with key changes to the governance and rewards systems to create a more decentralized network.
- Dominik Swierkot — CMO Ferrum Network
Thank you for this Justin, and tell us how do you incorporate Ferrum network technology at LGCY?
- Justin Wai’au
We used Ferrums Unifyre Wallet and staking platform to reward our early investors to pre-stake while we build out our network and staking. Very happy with the results.
- Dominik Swierkot
Nice glad to hear that :) are planning any more staking campaigns?
- Justin Wai’au
This last one we did will probably be the last pre-staking opportunity as we are moving quickly with development. The next staking campaign from us will be on mainnet. That said, we would love to explore other opportunities to collaborate with Ferrum moving forward.
- Dominik Swierkot
Thank you Justin! Looking forward to the main net release.
Let’s get to the fun part and take some questions from the public :) we will open the chat, get some questions in, mute again and let you answer, how does that sound?
Huobi?
- Justin Wai’au
BiKi and Huobi have a lot of crossover and we’re in a deep partnership with BiKi but unfortunately we can’t comment on any type of listing until it happens.
Is LGCY actually faster than TRON? More TPS?
- Justin Wai’au
We will be reducing some confirmations that are in our opinion redundant on Tron and this will make for faster speeds.
Node requirements hardware ? Requirements for becoming a node runner ?
- Justin Wai’au
I don’t have the specs on me at this moment but please dm and I can get you those exact specifications. This is open to any dev interested in becoming part of the governing bodies.
Questions submitted via Twitter.
1 — @LGCYNetwork What inspires the founders of LGCY to create LGCYnetwork, and why is LGCY important?
Great question! What inspired Wes (co-founder) and I to create LGCY Network was that we felt we could contribute not just a more well rounded and decentralized network but along with our Finance Expert Alan Crawley, we could integrate tokenomics that have sound deflationary mechanisms.
2 — @LGCYNetwork Are you collaborating with any Dex that will support the future lgcy blockchain and ecosystem to allow for lgcy fee transactions on an eth or other blockchain? Ex- @UniLayer_ provide for all chains with dex limit orders.. $lgcy addition would be much better than $trx to $layer
Without leaking too much, we will be having not just a dex but also a swap in which we have multiple ways we could integrate other blockchains, while still maintaining minimal fees through use of wrapped tokens and/or interoperable solutions that are currently in the space. Keeping some LGCY on ERC20 is an option as well for exchanges/dex that are limited by ERC20 (such as uniswap).
3 — @LGCYNetwork What is your ideal outcome of LGCY in terms of application? Are there any exciting integrations on the horizon? And most importantly, what is your favorite beverage?
Our ideal vision and goal is to have LGCY Network being completely community run. This is why it is so important for us to support Dapps that will run on our network by not just offering them our support with marketing and funds but making sure we get them into the governing bodies. By doing this, they will be empowered to make proposals and changes to the network they’re building on.
Also, I drink a lot of kombucha and coconut water.
4 — @LGCYNetwork What’s the latest progress on the development front?
Testnet is almost finished and we will be opening up applications for testnet tokens for devs wanting to get a head start. We will be releasing a full video by this weekend going through the process of creating an account/wallet and deploying a smart contract directly on our native blockexplorer. Stay tuned for that.
5 — @LGCYNetwork We know that exchange listings have not been a priority so far. Going forward, to make growth possible and to ensure there’s enough liquidity overall, what will be the team’s strategy in regards to new listings? Also, what more can we expect from the Biki strategic partnership?I’m happy to see this question asked. As you know, we’re not looking to spread liquidity thin and list on a billion exchanges that no one will use. Every listing we have, we treat it as our baby and cultivate it. That said, we are proud to announce that we will be launching two more strategic USDL pairs with LINK and DOT over the next week or so. On top of that, in March, we will be launching USDL hybrid futures on BiKi. We are very happy with the progress of our deep partnership and will continue to do so going forward to add more use cases and adoption for USDL. The article will be out soon.
I’d like to thank Ferrum and especially @ifriend05 and @DominikSwierkot for allowing us to have this AMA and look forward to exploring future ongoing partnerships with this community.
https://twitter.com/LGCYNetwork/status/1354166111256756225?s=20
