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Contents
Cypherpunk – The Bitcoin & Ethereum Vision 01
Crypto Collectibles: Exploration & Development 02
Three Main Features of LeCube-generated NFT 03
LeCube Definition 05
LeCube Major Modules 06
LeCube Characteristics 07
Token Economy 10
LeCube Application 12
Distribution Team 13
Community Collaboration & Media Support 14
Cypherpunk – The Bitcoin & Ethereum Vision
According to CoinMarketCap data, as of January 14, 2021, the market value of Bitcoin has exceeded 730 billion U.S. dollars, ranking among the top ten in all assets. It has surpassed a series of well-known companies such as Facebook, Alibaba, and Berkshire Hathaway. From its white paper in 2008 till its current top-10 position, Bitcoin has only experienced 12 years of development, two years less than Facebook. In that famous whitepaper, the mysterious Satoshi Nakamoto expressed his vision for Bitcoin. «Pure peer-to-peer digital cash will allow online payments to be sent directly from one party to the other without going through a financial institution.» He sees it as a necessity for the free world. There is no doubt that Bitcoin has created the present encrypted open digital world. This open financial virtual world is moving forward in an unstoppable manner. It is being accepted and believed in by more and more people.
We can see the same rapid posture in Ethereum development. Unlike Bitcoin’s positioning as an asset, Ethereum appears more in the form of a «smart contract.» Smart contracts allow for trusted transactions without a third party, which are traceable and irreversible. Every smart contract has the characteristics of openness, transparency, self-certification, and unconditional execution. Therefore, on Ethereum, the phrase «Code is Law» was initially just the community’s vision and has now been widely regarded as accurate and achievable. From ERC20 to DeFi, smart contracts provide participants with ample room for imagination and development.
Based on Ethereum’s smart contract, DeFi (Decentralized Finance) ushered as a real explosion in 2020. According to DeBank’s data, as of January 2021, the actual total lock-up volume of DeFi projects exceeded 20 billion U.S. dollars. Various types of DeFi have absorbed all parties’ attention and vast amounts of funds at a fantastic speed. But even if dealing with such a massive amount of funds, DeFi still faces many difficulties: contract security issues are commonplace, team integrity is questionable, and the huge rise and fall of currency prices makes investors profitable while trembling. Yet, the biggest problem is the lack of asset sorts.
The NFT (Non-Fungible Token) is an excellent supplement to the assets of the blockchain world. Almost all semi-financial and non-financial assets, such as virtual collections, in- game items, digital art, and even event tickets or real estate, can be tokenized with NFT. This opens up a wide range of possibilities for digital and tangible assets on the chain and gives the blockchain a great degree of richness. The most concerning assets in the NFT field are mainly concentrated in crypto art and games. Because artworks are more visually attractive to users, games are more intimate and practical, and game products can bring NFTs to mass users’ lives.
Crypto Collectibles: Exploration & Development
CryptoKitties is a revolution in NFT practice. Its value can be carried by encrypted currency and can do so in a brand new and unique way. CryptoKitties emphasizes the genetic uniqueness (rarity) and collection attributes (on-chain existence) of each cat. The gene sequence in each cat determines the collection value; fine art is the concrete CryptoKitties team’s expression of these abstract genes (on-chain data). Interestingly, the CryptoKitties are warmly welcomed by the initially earnest Ethereum geeks precisely because of these cute images, causing the most massive congestion on the Ethereum network in history
However, people seem to pay more and more attention to art pictures with the industry’s development – studying their content and style differences. But very few mention the intrinsic value of NF, while many think that these images are the total value of NFT. It is not difficult to understand why such a phenomenon occurs because people will not perceive the shortcomings of existing NFTs quickly. Existing NFTs face two main problems. One is that NFT pictures and NFT functions in applications are stored in a centralized server. The survival of an image depends entirely on the service time. Its utility depends on the project party’s service capability. The use of IPFS (InterPlanetary File System) for NFT image storage will be a future trend. However, the stability of the IPFS network itself
needs to be verified. The other problem that NFT faces is the credibility of the image source. Since the blockchain network cannot identify the image creator, a picture downloaded from the Internet can generate NFT assets and even be auctioned off as an artwork NFT.
These issues have not been widely mentioned in the industry. However, images stored on centralized servers and assets o har-to-confirm content sources are difficult to be called actual digital collectibles in the long run. Therefore, LeCube hopes to go further in the NFT direction and make digital collections more decentralized, coded, and capitalized. LeCube will provide a brand-new NFT creation and application paradigm, allowing on-chain native artwork creation so that images can be expressed in a decentralized manner.
Suppose Bitcoin turns code into cash, and Ethereum brings a world of programmable Code is Law. In that case, LeCube is committed to making art out of code.
Three Main Features of LeCube-generated NFT
Independent of centralized server support, NFT becomes a more durable digital collection
Lifetime is an essential factor in measuring the value of collectibles. An item lifetime determines whether an item can inherit people’s emotions in the distant future. It is a vital attribute to measure whether the item can become a collectible. In the real world, there are many physical collections, such as oil paintings and sculptures. In the virtual world, more and more digital collections are being born as well. Although these digital collectibles get rid of the physical environment’s influence, the text, pictures, and data stored in centralized servers still have the potential to become digital collectibles. The reason for it is that these works’ survival depends entirely on the company or server/ cloud service providers like Alibaba and Amazon to which the server belongs.
LeCube is committed to changing this state. In LeCube, whether it is to generate the NFT code or create the visual image in the NFT, it is directly created and stored using
Ethereum’s smart contract. Therefore, the NFT created by LeCube ultimately gets rid of the dependence on centralized servers, making NFT a digital collection of a longer lifetime. LeCube NFT lifetime is proportional to the same of the Ethereum network.
Created entirely by the community, NFT becomes a more vibrant Digital Art LeCube is committed to becoming an utterly open user UGC community. From the Cubes output and Cube composing to NFT creation, all the way until the community thoroughly completes the entire process. Compared with the mode of officially producing content
and providing sales services, the user UGC community has a more diversified perspective. It can create richer content and burst out more substantial users’ self-propagation willingness. In the well-known UGC community of Lego (LEGO), creators worldwide continue to inspire each other, inspire high-quality content and fresh gameplay. Although this is an old brand, which has been established nearly 100 years ago, it continues to glow with vitality.
In the LeCube community, NFTs created by community users will also more easily resonate with other community members, thereby forming a broader and stronger consensus on the work. At the same time, in LeCube, not only professional artists or talented creators can enjoy the fun of creation. LeCube’s original citation section will significantly reduce the difficulty of creating NFT works. A large number of ordinary users can make secondary creations by quoting NFT works created by others. The cited author will enjoy the benefits of copyright quotations. It is conceivable that the more famous NFT creations are made, the more benefits will be gained. The more famous creations are adopted, the easier it is to create high-quality works. This section will realize a positive cycle, continuously strengthen the community’s consensus on NFT creations, and make NFT more vital.
Taking advantage of the scientific pricing of encrypted assets, NFT becomes
a more valuable asset
Crypto-assets could gain such widespread attention in just a few years primarily due to the fact that digital assets released on the Bitcoin and Ethereum networks (specifically FT – fungible token) can be traded by owners or institutions without a time limit and independently of the region. As a result, the liquidity of the crypto- asset market has been fully released. After many price matching and market games, the market will finally give precise pricing for these assets.
However, due to the «every NFT is unique» characteristic, NFT also has low liquidity and difficulty forming a suitable value discovery mechanism, although it naturally has a sense of scarcity. Practitioners have been aware of this problem and have tried many methods, such as auctions of various rules or splitting NFT into FT. However, there is still no NFT pricing mechanism that most people can agree on.
The LeCube team believes that pricing issues need to be solved systematically. Also, FTs with more consensus and better liquidity must be introduced. Based on this idea, the LeCube value generation system came into being.
In LeCube, each Cube is an FT, and each NFT is composed of these Cubes (FT). Since these Cubes (FTs), from output to circulation, have gone through a decent amount of community consensus and market game, they already have accurate market pricing, enabling NFT to have proper introductory pricing. In the Copyright Center, users will face another FT type (see the Token Economy section below for more details) to pay copyright fees for the NFT works they want to adopt. The process of gaming between many users and authors will price the utility of the NFT results. Finally, a fantastic NFT work is sold in the form of an auction in the Marketplace, reflecting the creations’ fundamental value, their utility value, and the buyer’s recognition.
Through scientific pricing in all aspects, the NFT market can become more healthy and orderly. It will be more conducive to developing financial services such as NFT-based leasing, mortgage lending, making NFT a more valuable asset.
LeCube Definition
LeCube is a blockchain version of Lego and an art version of GitHub. In LeCube, users can use Cubes to compose and create entirely blockchain-based NFT assets with traceable copyright.
LeCube Major Modules
If LeCube products are categorized by function, the five main modules would be Cube Pool, Composing, Copyright center, Marketplace, and My profile.
In these five modules, users can obtain 「 Cubes 」 , build and sell their creations, open creations’ copyrights to receive rewards, view their LeCube assets and ongoing creations, or decompose NFT creations back into Cubes.
Cube Pool: Cubes are the primary materials used in LeCube’s creations. Users can mine Cubes in the Cube Pool by staking any community-agreed currency. Users can also get appropriate liquidity rewards by providing Cube liquidity on Uniswap.
Composing: Once Cubes are acquired, users can start composing them using the 3D tools in the Building Editor. If users have already purchased other users’ copyright, it can be applied directly within their creations in the Editor. Users can also upload their finished creations to the blockchain for them to become NFTs.
Copyright Center: Users can open their NFTs’ copyright to other users after putting it into the Copyright Center. Copyright owners are rewarded with an LCT whenever they are adopted by other users (there is no limit on the number of adoptions). Users who purchase other users’ copyright may adopt it in their creations when they compose it.
Other Functions: In the Creations Marketplace, users can either sell or purchase LeCube NFT creations. In the Cubes Marketplace, users can trade Cubes. Users can also view all product-related assets, building progress, and decompose their NFT creations back into Cubes in My profile.
LeCube Characteristics
Multi-currency non-licensed staking mechanism
In the LeCube Cube Pool, the currency that users stake for mining does not require any centralized organization’s permission. The community initiates an application for preselection contracts. The community votes by staking their preferred currencies. Finally, the top 21 currencies of the highest stake value will gain mining rights. After the stakes are complete, the Cube Pool’s output efficiency is not determined by any centralized organization but is generated by the market. The amount of Cubes obtained by the user is proportional to the stake value of all the currency they staked in the Cube Pool.
Throughout the above process, all tasks are automatically executed by smart contracts. The prices of all currencies are derived from Uniswap’s real-time on-chain price to ensure that LeCube’s resource allocation is open, fair, and just.
Two-way Cube and NFT conversion
In LeCube, each «Cube» is not only a Fungible Token with actual value but also the smallest unit of visual elements. In the process of composing the «Cube» (Fungible Token) into NFT (Non-Fungible Token), the value of all FT is transmitted to NFT, which constitutes the precise fundamental value of NFT and constructs all visual representations of the NFT. The entire process is directly completed using the Ethereum network, with higher asset value. (For more details, see section 3: Three main characteristics of NFT generated in LeCube). Simultaneously, the user’s behavior of Cube composing can also be regarded as a Cube staking, which is conducive to the deflation of Cube volume and the preservation of Cube price.
The entire process is entirely on-chain and has unlimited data storage. Hence, users can also decompose NFTs that are not of high quality at any time and return them an FT form with better liquidity. This two-way convertibility feature brings better liquidity to LeCube’s NFT. Also, it provides a promising application scenario for FT, which can continuously promote the two.
LeCube Token (LCT) inspires the community creativity
The entire LeCube economic system closely revolves around the concept of fair distribution of resources and encouragement of community contributions so that creativity can be valued. Therefore, in addition to non-destructive mining as a way to access Cubes, LeCube also designed an important incentive mechanism: rewards for composing NFT creations and for NFT creations being adopted.
Whenever users compose Cubes into NFT, they will get LCT rewards. (Reward distribution formulas can be found in section 7, Token Economy).
Whenever an NFT listed in the Copyright Center is adopted, its creator will also receive an LCT reward (see section 7, Token Economy, for rewards distribution formulas). It is similar to the thesis citation mechanism, except that many cited papers increase the author’s academic reputation and authority, while in LeCube, the adoption, or citation, of creation can directly bring benefits to the creator. In LeCube’s mechanism, users can put their composed NFTs in the «Copyright Center» and open the copyright to all users. When the copyright of an NFT creation is purchased, the creation will be stored in the buyer’s profile in a «copyright» form. Buyers only need to click «adopt» when composing their own NFTs. Then they can apply the purchased «copyright» to their creation, and it will become part of the new artwork.
Since the above actions are all carried out on the blockchain, the user can view all the on-chain data, such as the adoption trajectory and adoption amount of all NFTs. In this process, good NFT works will enter a positive cycle: the more NFT creation is adopted, the higher its popularity. This means that it is easier to be adopted, and there is no upper limit to the times a creation is adopted.
Copyright Center and adoption functions
LeCube’s unique Copyright Center and adoption function allow users to freely list their NFT works and open the copyright to other users. At the same time, users can purchase and adopt other people’s creations in the Copyright Center and then use the adopted products in their works. In this process, no matter if it is the creator whose copyright was bought or the creator putting together new artwork, they will be rewarded.
Firstly, this design is the key to a cold start for the community for the entire ecosystem.
Users do not need to complete the whole creation entirely by themselves. However, they can choose to adopt unique creations in the Copyright Center and make some changes or express their creativity by combining works. Perhaps it is just a little innovation, but it may bring unexpected results. Since the creativity threshold has been dramatically reduced, users can also stimulate each other and help the community to flourish with creativity.
Secondly, NFT works can be adopted for a fee. This design makes it possible for multiple people to collaborate across regions and time. Because the blockchain system automatically executes everyone’s income, each component’s creator is guaranteed the revenue based on the workload in working together on a grand project. Simultaneously, because the number of citations is unlimited, some creators who are good at composing elements and small works can make considerable profits for themselves by mass-producing.
Finally, at the technical level, this solution optimizes the issue of Ethereum gas fee storage. Due to the limited storage capacity of Ethereum, if each work is composed entirely out of Cubes and the entire composition process is recorded on the Ethereum blockchain, it will require a lot of gas fee. The adoption function alleviates this problem. Because the copyright data already exists on the blockchain, it hardly takes up storage space when the new creation is uploaded on the chain. Creators can constantly use adoptions to build larger and larger NFT works.
Core Assets Development and Community Self-Evolution
Cube, NFT, and LCT each have separate missions, and they are continually circulating in the LeCube ecosystem. At the same time, the assets are also converted into each other, forming a stable ecological structure.
Simultaneously, the half-cycle design will also allow the ecology to have the ability to evolve itself step by step: as the output of blocks decreases, the number of LCT rewards decreases, the fundamental value of NFT increases, and the community will gradually enter a consensus – NFT composing is the most profitable behavior. The generation of this consensus is also the mission of the LeCube project.
LeCube Token Economy
Introduction
Token: Cube
By staking community-agreed mainstream currencies, users can losslessly mine Cubes
Specification Token name: Cube Network: Ethereum
Standard Protocol: ERC20 Precision: 18
Smart Contract Address:
Cubes are divided into eight colors, black CBK, white CWT, red CRD, orange COG, yellow CYL, green CGN, blue CBU, purple CPL.
Allocation
Cube total supply: 8,000,000 = 1,000,000 Cubes * 8 colors
Gradually released in the Cube Pool by staking mainstream tokens
Miners 85%
Official 5%
Reward Pool 4%
Liquidity Rewards 4%
(released by the results of community voting)
Released before staking mainstream tokens
Lootbox Airdrop 1%
Uniswap Liquidity 1%
Production Reduction
The first Mining Pool phase’s supply is 2.4 million; the output is reduced by 30% at
each phase of 180 days.
Token: LCT
Introduction
Specification Token Name: LCT Network: Ethereum
Standard Protocol: ERC20 Precision: 18
Smart Contract Address
LCT, or LeCube Token, is an incentive token used to motivate users’ creativity. Once having composed a stunning NFT creation, the creator can either upload it to the Copyright Center or sell it directly on the Creations Marketplace. Whether NFT works are adopted (number of adoptions is unlimited) or purchased, creators will be rewarded with LCT and truly gain revenue through their creativity.
Allocation
LCT Total Supply：480,000,000
Released by the creators building Cubes into NFTs
Creators 85%
Official 5%
Reward Pool 4%
Liquidity Rewards 4%
(released by the results of community voting)
Released before staking of mainstream tokens
Lootbox Airdrop 1%
Uniswap Liquidity 1%
Production Reduction
When Cube supply decreases, LCT release decreases accordingly
When Cube supply decreases, LCT recovery decreases accordingly
LeCube Application
The LeCube core is 「 Cube 」 , which users can obtain by non-destructive mining. The creators can use Cubes to build various NFT creations freely. These creations can be applied to any decentralized application based on Ethereum.
Take the web version of MetaMask as an example. Suppose a user uses a wallet to read an NFT asset after putting together an image in LeCube. The image on the front end will show what they have put together as a unique avatar as long as the front end has completed very short code-parsing.
In the LeCube ecosystem, every element, creation, and composition process is a native blockchain asset with a code that other applications can recognize. NFTs created in LeCube can be transferred into other applications, such as The Sandbox and Decentraland, and can form related financial applications, such as leasing or mortgage lending, developing a free blockchain economy. It can significantly improve interoperability; that is, it can be visualized in more decentralized applications.
Distribution Team
MixMarvel
The global blockchain game distribution platform, MixMarvel, since its inception in 2017, has successfully released nearly 20 high-quality blockchain games such as Hyper-series and Crypto Throne. The self-developed game HyperDragons is ranked at the top of the significant public blockchain games. In August 2018, HyperDragons’ total number of users on Ethereum and DAU surpassed CryptoKitties, becoming the Top Blockchain Game. The HyperDragons was listed as one of the top-ten blockchain images of 2018 by CoinDesk.
Since its inception in 2017, MixMarvel has been dedicated to providing both users and developers with a one-stop blockchain-based application-publishing platform and content community. Besides delivering the best content, MixMarvel also provides developers with a layer-2 cross-chain solution, Rocket Protocol, that is more suitable for large and medium-sized interactive applications. This solution is fully compatible with Ethereum EVM and mainstream NFT protocol. Rocket Protocol supports both NFT eco wallets and blockchain explorers.
Community Collaboration
$WHALE – Founded by NFT collectors, it uses tangible NFT assets as valuable support to ensure its stability. As the community token with the highest interaction rate in the global community, Whale’s vision is to allow ordinary people to participate in art investment and enjoy art appreciation benefits.
Lichang (or Field of Force)-is a community and UGC (User Generated Contribution) platform centered on the joint construction and mining of public chains. Through Lichang LC token, it provides governance, content, and community services for the public chain, becoming a public chain and KOL & the community matchmaker.
Media Support
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