LFW
Last updated
Last updated
The native digital cryptographically-secured fungible token of Legend of Fantasy War (ticker symbol LFW) is a transferable representation of attributed governance and utility functions specified in the protocol/code of Legend of Fantasy War, and which is designed to be used solely as an interoperable utility token on the gaming ecosystem. There is a fixed supply of LFW tokens.
LFW is a non-refundable functional utility token that will be used as the medium of exchange between participants on Legend of Fantasy War. The goal of introducing LFW is to provide a native currency allowing users to play the game and participate in the game ecosystem, and it is not, and not intended to be, a medium of exchange accepted by the public (or a section of the public) as payment for goods or services or for the discharge of debt; nor is it designed or intended to be used by any person as payment for any goods or services whatsoever that is not exclusively provided by the issuer. LFW does not in any way represent any shareholding, participation, right, title, or interest in the Company, the Distributor, their respective affiliates, or any other company, enterprise or undertaking, nor will LFW entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in Singapore or any relevant jurisdiction. LFW may only be utilized on Legend of Fantasy War, and ownership of LFW carries no rights, express or implied, other than the right to use LFW as a means to enable usage of and interaction within Legend of Fantasy War.
LFW also provides the virtual crypto "fuel" for using certain designed functions on Legend of Fantasy War, providing the economic incentives which will be distributed in a fair and transparent manner to encourage users to contribute to and maintain the ecosystem on Legend of Fantasy War, thereby creating a mutually beneficial system where every participant is fairly compensated for its efforts. LFW is an integral and indispensable part of Legend of Fantasy War, because without LFW, there would be no incentive for users to expend resources to participate in activities or provide services for the benefit of the entire ecosystem on Legend of Fantasy War. Given that additional LFW will be awarded to a user based only on its actual usage, activity, and contribution on Legend of Fantasy War and/or proportionate to the frequency and volume of transactions, users of Legend of Fantasy War and/or holders of LFW which did not actively participate will not receive any LFW incentives.
LFW tokens play an essential role in Legend of Fantasy War, enabling users to participate in the "play to earn" sharing economy model, character upgrades, squad selection, etc
In particular, it is highlighted that LFW: (a) does not have any tangible or physical manifestation, and does not have any intrinsic value (nor does any person make any representation or give any commitment as to its value); (b) is non-refundable and cannot be exchanged for cash (or its equivalent value in any other digital asset) or any payment obligation by the Company, the Distributor or any of their respective affiliates; (c) does not represent or confer on the token holder any right of any form with respect to the Company, the Distributor (or any of their respective affiliates), or its revenues or assets, including without limitation any right to receive future dividends, revenue, shares, ownership right or stake, share or security, any voting, distribution, redemption, liquidation, proprietary (including all forms of intellectual property or licence rights), right to receive accounts, financial statements or other financial data, the right to requisition or participate in shareholder meetings, the right to nominate a director, or other financial or legal rights or equivalent rights, or intellectual property rights or any other form of participation in or relating to Legend of Fantasy War, the Company, the Distributor and/or their service providers; (d) is not intended to represent any rights under a contract for differences or under any other contract the purpose or pretended purpose of which is to secure a profit or avoid a loss; (e) is not intended to be a representation of money (including electronic money), security, commodity, bond, debt instrument, unit in a collective investment scheme or any other kind of financial instrument or investment; (f) is not a loan to the Company, the Distributor or any of their respective affiliates, is not intended to represent a debt owed by the Company, the Distributor or any of their respective affiliates, and there is no expectation of profit; and (g) does not provide the token holder with any ownership or other interest in the Company, the Distributor or any of their respective affiliates.
Notwithstanding the LFW distribution, users have no economic or legal right over or beneficial interest in the assets of the Company, the Distributor, or any of their affiliates after the token distribution.
To the extent a secondary market or exchange for trading LFW does develop, it would be run and operated wholly independently of the Company, the Distributor, the distribution of LFW, and Legend of Fantasy War. Neither the Company nor the Distributor will create such secondary markets nor will either entity act as an exchange for LFW.
Utility | Description |
Play to Earn | There is a proportion of the LFW tokens supply reserved for user incentives. Players can earn LFW tokens by defeating quests and completing the game mission. LFW token provides the economic incentives which will be distributed to encourage users to contribute and maintain the ecosystem of Legend of Fantasy War. |
Payments | LFW is the native in-game currency that players use to purchase assets, participate in the lucky draw to earn characters in the game, and exchange items in the NFT marketplace via peer-to-peer transactions. |
Community Governance | In order to promote decentralized community governance for the network, LFW would allow holders to propose and vote on on-chain governance proposals to determine future features of Legend of Fantasy War (the right to vote is restricted solely to voting on features of Legend of Fantasy War; it does not entitle LFW holders to vote on the operation and management of the Company, its affiliates, or their assets or the disposition of such assets to token holders, or select the board of directors of these entities, or determine the development direction of these entities, does not constitute any equity interest in any of these entities or any collective investment scheme; the arrangement is not intended to be any form of joint venture or partnership). |
Governance rewards | It is the community members which would maintain and drive development of Legend of Fantasy War, so LFW incentives would need to be distributed to compensate them for their time, expertise and effort. Only users who have participated in submission of proposals, commenting, reviewing and/or voting will be entitled to receive LFW token governance rewards. |
Allocation | Amount | Initial Circulating | Vesting Schedule | |
Private Round | 10% | 20,000,000 | 1,000,000 | 5% at TGE, and then 6-month locked then 12 months vesting as detailed below: April 28, 2022: 30% July 28, 2022: 20% October 28, 2022: 30% January 28 , 2023: 10% April 28, 2023: 5% |
Public Round | 0.8% | 1,600,000 | 800,000 | 50% at TGE, one month after 50% |
Game Incentives | 23% | 46,000,000 | Starting unlock when games online, then linear vesting 4 years | |
Staking reward | 12% | 24,000,000 | Fully lock 8 months, then linear vesting 3 years | |
Eco-Fund | 10% | 20,000,000 | 1,000,000 | Unlock 5% TGE, one month after 5%, then linear vesting for 12 months |
Reserves | 13.2% | 26,400,000 | Fully lock 12 months, then linear vesting 5 years | |
Marketing & Partnership | 12% | 24,000,000 | Unlock 5% 7 days after TGE, then Linear vesting 2 years | |
Team | 15% | 30,000,000 | Fully lock 6 months, then linear vesting 4 years | |
Advisor | 4% | 8,000,000 | Fully lock 6 months, then linear vesting 4 years |
