LGCY Network Development Update #14
Development Update: 25th April, 2022
We’ve got a huge bumper update for you with some exciting details, starting with key updates about the long-anticipated wallet extension, product teasers, and important developments. We’ve also got links to recent exclusive AMAs, notable publicity, and some hot networking and partnership news. We’re also really excited to report on the Hotbit LRC-20 integration — a real coup for LGCY Network as our first CEX native token integration, which should bring the community even greater utility.
- Wallet Extension Release
- Technical Information Update
- Hotbit LRC-20 Integration
- Publicity and Marketing
- Justin Attends NFT¦LA
- Bittrex Marketing Campaigns
- April AMAs
- Community Questions: You Asked, We Answered
1. Wallet Extension Release
We are so excited to announce that the LGCY wallet extension (mobile version) will be released by early May or sooner. The LGCY wallet extension (web version) is planned to be released in Q2.
You will be able to grab the mobile-friendly wallet extension on the Block Explorer website when it’s available.
We plan to make this wallet downloadable from the app store and Google play in the future. In the meantime, you will be able to access it from your browser with full functionality. Here’s a sneak peak:
2. Technical Information Update
More good news: you can expect to see a new and improved UI for the LGCY Block Explorer, which will include MyriaDex and LGCY Launchpad integration. You’ll also be able to connect it to your wallet, making it a one-stop shop to interact with the blockchain.
The new UI will provide an enhanced user experience, ensuring LGCY Network’s front end has a slick look to match the top-notch functionality on the back end.
Also announcing the TRON FAMILY dev tool from our very own @AndreasBarthel6 (don’t forget to like and follow on Twitter):
- The dashboard from the Tron Family for LGCY Network Block Explorer moved to https://dashboard.legacy.chainmasters.ninja from https://www.legacy.chainmasters.ninja/legacy/dashboard. This is “just” a dashboard for now with further updates and development still being planned. The dashboard gives you a user-friendly way to view your balances and transactions. For ideas or suggestions, feel free to contact @Jomikel on LGCY Network Telegram.
- More API updates on the way.
- There has been a major boost and upgrade to the current servers, which will increase transaction speeds and capacity.
- The Tron Family will launch an exciting Telegram tip bot. “LGCY tip bot” version 1 will allow users to send and receive whitelisted (LRC-20) tokens and coins with other users/accounts/wallets and check balances. Later versions will have additional tools such as (airdrop capability, trading, and multi-wallet functionality). *Important Safety Message* THE CREATORS WOULD LIKE TO REMIND YOU THAT THIS TIP BOT WALLET ADDRESS IS NOT SUITABLE TO KEEP LARGE AMOUNTS OF TOKENS — THESE ARE ALWAYS SAFER IN SELF-CUSTODY WALLETS.
3. Hotbit LRC-20 Integration
We are extremely pleased to inform the community that the Hotbit exchange LRC-20 integration is complete and trading will start on Wednesday, 27th April!
We know this CEX integration is incredibly important for the community and a milestone for our network. LRC-20 capability on a CEX partner establishes the move away from Ethereum onto our LRC-20 token standard blockchain. Later this week, you will be able to trade, send, and receive LRC-20 LGCY tokens. Future integration for USDL and other LRC-20 tokens is also due on Hotbit in the future.
Other CEX partner integrations are planned. Look out for more announcements, as specific timelines aren’t set in stone just yet.
4. Publicity and Marketing
On 8th April, 2022, Justin and Wes recorded an interview with our marketing partners, NewToTheStreet. The interview was released on 17th April.
We are also thrilled to announce that LGCY Network will be featured on FOX Business and Bloomberg TV every month, meaning articles about our network will be published on major traditional and crypto media outlets and programs!
Lastly, we have a social media engagement package primed and ready for deployment. This will expand our audience and spread awareness of the LGCY Network across Reddit, Twitter, YouTube, and other media.
5. Justin Attends NFT¦LA
Justin attended the NFT¦LA, and all reports are that the mission was a success! Justin said it was great seeing all the exciting new projects out there and that he looks forward to possibly working together in the future. You can read more here.
Partly due to Justin’s presence, a meeting was held at the NFT event. As a result, a new artist for NFTs will be coming to the LGCY Network: one of Wayland’s artists, Irina Daylene. You can follow her on Instagram.
6. Bittrex Marketing Campaigns
As part of Bittrex’s listing, marketing campaigns are being planned for May, including a trading competition, email blasts, an explainer video, and a podcast. Watch out for more announcements from Bittrex Global.
7. April AMAs
Bittrex Global AMA: If you missed the AMA, check out the replay to stay up to date with what’s going on with LGCY Network.
Here are some of the main highlights and topics covered:
- Justin’s introduction to the crypto space
- How the LGCY Network vision was established
- Team members
- USDL utility
- Community focus
- Development fund
- CEX strategy
- Governance & staking
- Liquid LGCY
- New partners
- And much more…
Sifchain AMA: This was a brilliant AMA with Sifchain and Wes. Wes did an amazing job talking about why LGCY’s governance and decentralized approach are so important in the crypto space. If you missed the AMA, check out the replay.
Be sure to listen to the replay for the juicy details! Here’s what was covered:
- A brief introduction to Wes and his achievements in the crypto space
- Recent developments and need for security
- The governance model
- LCR-10 & LRC-20 tokens
- Cross chain bridges
- MyriaDex and an AIRDROP
- Developer fund
- Yield farming
- Plans for the next six months
- Community Q&A
8. Community Questions: You Asked, We Answered
Here are some common questions we’ve seen asked by the community.
Why is it taking so long?
We will launch a polished product once we are satisfied that the chain works optimally. The largest items will be launched whole which involves many moving parts and working with various partners and their timings in a way that benefits us all.
I am worried about USDL liquidity. Do you have anything to allay my fears?
USDL was valued at $1 for a long time when the ⅔ staking was released, and millions were released then. USDL dipped for a few weeks at a time before bouncing back.
Most of our partnerships will bring network activity and they will commit LP for Pendulum Finance and MyriaDex. That means you will be able to buy more than just LGCY.
dApps will use USDL, and developers will use USDL for deploying and running apps. Our team has built up a massive range of use cases. $33M isn’t a large amount especially considering LootUp and other dApps will eat a big chunk.
More to Come
Lastly, we want to express our gratitude for your continued support and patience as we continue working on these roadmap milestones. There’s plenty to be excited about this quarter, and we expect next month to bring more exciting developments and releases. If you haven’t already, be sure to follow us on Telegram or Discord to keep up in real time or send over your thoughts, insights, and questions!
About LGCY Network
LGCY Network is a DPoS open source blockchain protocol with an industry-leading transaction speed and flexible utility. Designed to be the most truly decentralized dApp blockchain in the world, the network implements the Libertas Protocol to the Governing Body (GB) system of governance. By splitting up the 27 GBs into three branches, limiting the power of each, and introducing terms to the governance system, no single large token holder will be able to gain an unbalanced amount of power.