LEGN - Legion Electronic Gambling Network
Legion Coin is an open source, peer-to-peer, decentralized cryptocurrency designed for the regulated online gambling industry. The global online gambling market is anticipated to generate revenues of more than $74 billion by 2023, growing at a CAGR of approximately 10% during 2017-2023. The Legion team would like to tap into this market by creating a secure and fun environment to play online casino type games, while using cryptocurrencies as payments.
The Legion Electronic Gambling Network is in the development phase and looking forward to bringing these products and services to it's users:
• Online Betting
• Online Casino
• Online Lottery
The primary platform will be on Desktop application. Mobile applications will be considered as a future development.
Legion Coin is run on the Scrypt algorithm and was chosen for the ability to provide fast, secure, peer-to-peer transactions. The Scrypt algorithm also allows for blocks to be "mined/minted" through Proof of Stake (Pos) and Masternodes (MN). A masternode is a server on a decentralized network. It is utilized to complete unique functions in ways ordinary nodes can’t. It can be used for features like direct send / instant transactions or private transactions.
Legion Coin History
Legion Coin began May 21, 2018 as a community driven coin to takeover previously dead coins and absorb those previous investors and community members. That stage is over and the team pushes forward with a solid use case for the project. The coin specs have limited the team to what can be done for future developments and the team has decided to facilitate a fork to different blockchain while keeping the Scrypt algorithm. The major changes being made are coins specs and increase of Masternode collateral. In order to facilitate these changes, the Legion team asks to swap old Legion coin for new coins on a new blockchain.
Swap Details
Swap will begin March 17th to April 7th.
No coins will be swapped after April 7th. No exceptions.
Swap will be 2:1 For every 2 Legion coins you have now will be swapped for 1 new Legion coin. i.e. if you have 10000 Legion now, you will swap for 5000 new Legion coin.
Swap process on our discord server.
Note: the swap deadline has been moved up to March 31st 2019, please do get you swaps in by this date and swaps later would not be considered. (reason being that 80% of the swaps have already been completed)
Coin Distributioin
Our new chain will have a max supply 100000000 or 100 mil.
We have pre-mined 30 mil and funds are allocated as such:
5mil to each founder ( x3 )
5mil for swap
10mil for dev / exchanges / marketing (This dev wallet will be held as PoS and not be put into MN. It will only build upon itself by staking )
Masternodes
Masternode collateral will be changed to 100k per node. We are already in discussion with listing on a MN hosting platform if you don't want to host nodes on your own vps. After swap is complete we will also be targeting exchanges.
We will not have any pre-sales or "ICO" This project has been community driven since the start and we will continue to be the same. OTC sales have not been discussed, but may be considered.
Coin Specs
Name: Legion
Ticker: LEGN
Max Supply: 100m
Premine: 30% = 30m
Confirmations: 10
Block Time: 60 sec
Algo: Scrypt
MN/POS Reward: 70% / 30%
POS Maturity: 1 hours
Block 1 = premine
Block 2 to 100000 = 40 COIN 28 MN / 12 stake
Block 100001 to 200000 = 30 COIN 21 MN / 9 stake
Block 200001 to 300000 = 25 COIN 17.5 MN / 7.5 stake
Block 300001 to 400000 = 20 COIN 14 MN / 6 stake
Block 400001 to 500000 = 15 COIN 10.5 MN / 4.5 stake
Block 500001+ = 10 COIN 7 MN / 3 stake
MN collateral = 100K
Wallets and Source
Community
Exchanges
Block explorer to be up soon
