Lucidao Frequently Asked Questions
WHAT IS LUCIDAO
-What is Lucidao really about?
Lucidao aims to gather a community of Oracles and users to build infrastructure to facilitate the bridging of crypto and real worlds. The protocol was born as a decentralized autonomous organization (DAO) where community membrerò drive decisione. The DAO has a shared goal of giving users the power to access real-life products and services via blockchain technology and decentralized applications (DApps).
-What are DApps?
Decentralized applications (dApps) are digital applications or programs that exist and run on a blockchain or peer-to-peer (P2P) network of computers instead of a single computer. DApps can be developed for a various purposes including gaming, finance, marketplaces and social media.
-What is a DAO?
A decentralized autonomous organization (DAO) represents a set of rules encoded as a transparent computer program, controlled by the organization members and not influenced by a centralized entity. A DAO’s financial transaction record and program rules are public and maintained on a blockchain.
-Who are the Lucidao team members?
The Core Strategy Team comprises of highly skilled entrepreneurs with backgrounds in investing and cryptocurrency/blockchain technologies. Additionally, our Core Team incorporates individuals with specialized expertise, including world-class devs and IT specialists. The Core Team is supported by the advisory board that will enable them to move the project where it needs to go rapidly.
TOKEN SALE AND TOKENOMICS
-What is the contract address for Lucidao?
Lucidao contract address is: 0xc2A45FE7d40bCAc8369371B08419DDAFd3131b4a
-When did Lucidao protocol begin?
The first transaction was made on December 29th, 2021.
-Did the team receive tokens for free?
There was no allocation of tokens for the initial Lucidao team. Participants had to whitelist their account and partake in the presales like any other user.
-Is there a vesting period for presale participants?
No, tokens purchased during the presale are not subject to vesting. LCD is a utility token whose function is to participate in the Lucidao governance (by proposing and voting); therefore vesting tokens would deprive the users of participating in the governance decisions.
-How does vesting works?
Vesting is the process of locking and releasing tokens after a given time. Usually, vested tokens belong to team members, advisors, partners, or others who contributed to the development of the project, but also investors who purchased tokens before they went on general sale.
-Who are the presale participants?
Presale participants are whitelisted users who could participate in Lucidao initial sales on a first-come first-serve basis.
880m LCD tokens have been minted with an allocation breakdown as follows:
66.00% to Lucidao Governance
20.00% to presales participants
-Pre-sale 1: 75,000,000 LCD
-Pre-sale 2: 101,000,000 LCD
10.00% to the treasury with 1-year vesting
4.00% to DEX liquidity
-What is the current Market Cap?
Current Market Cap can be calculated by multiplying the number of coins in circulation (220m) by the current market price of a single coin.
Fully Diluted Market Cap is 880m*Current Price.
-What were the original listing prices?
Presale 1: $0.00741
Presale 2: $0.01205
Listing price: $0.01500
-How can I buy LCD token?
LCD can be purchased via SpookySwap on the Fantom Opera network.
Be sure to have Fantom Opera Network imported in your MetaMask wallet with an FTM positive balance. (How to set up MetaMask)
Connect your Fantom opera Network wallet to SpookySwap and purchase LCD tokens through this direct link.
-Why Fantom Opera?
Blockchains built on Fantom are fast, secure, and highly scalable. These features allow organizations, businesses and individuals to develop decentralized applications that can be used across a wide range of industries in the real world.
-Can I stake or pool my tokens?
There are a lot of tokens to allocate and we are thinking of countless applications. As always, we will vote!
-Is LCD a utility token? What does this mean and what do I do with my LCD tokens?
Lucidao Utility Token (LCD) allows users to participate and vote in governance actions within the Lucidao ecosystem. Lucidao Utility Token is a Fantom Opera Token augmented with the OpenZeppelin ERC20 votes extension to support on-chain voting and delegation. For now, you can use your LCD tokens to create proposals, vote and delegate voting power. Please note that anybody with 1% of LCD delegated to their address can propose a governance action.
-What are Oracles?
Blockchain Oracles are third-party entities that connect blockchains to external systems, enabling smart contract to execute based upon inputs and outputs from the real world. Oracles are trusted entities of Lucidao that connect real-life products and services to Lucidao dApps. Oracles are vital to Lucidao’s mission to bridge crypto and the real world.
-Are Oracles trustworthy?
We have designed different types of contracts that allow us to verify every Oracle. Moreover, to be eligible to bring off-chain data on Lucidao, Oracles will have to provide a track record of transactions and business structure behind the product or service they are willing to deliver within the DAO protocol. Furthermore, Oracles need to hold and deposit a significant amount of LCD tokens to partake in the Lucidao ecosystem.
-How does governance work?
Anybody with 1% of LCD delegated to their address can propose a governance action; these are simple or complex sets of activities, such as adding support for a dApp, changing a Timelock variable, or changing any other parameter or variable of the Lucidao ecosystem that the Governance can modify. All proposals are subject to a 3 day voting period, and any address with voting power can vote for or against the proposal.
What are the steps for a proposal?
- Discussion of the initial proposal on Discord
- Move to Pre Lucidao Proposal (PLP)
- Move to Final Lucidao Proposal (FLP)
Discuss your proposition on Discord for initial feedback, then formulate a proposal to PLP on the forum with a poll for governance. If you have at least 1% of the total supply and moderators approve it, it moves to FLP (Final Lucidao Proposal), where it passes the governance.lucidao.com interface.
Twelve hours after the proposal is created it moves to ‘active’. At the end of the three day period, if a quorum is reached (of 4% in favor), the proposal is passed and can be executed
Visit Lucidao Forum for more information: Proposals — Rules and Guidelines
-How to vote for a proposal?
Visit our Governance website, add your wallet, delegate your tokens to yourself or other members and start voting.
-Has Lucidao been audited?
Yes! The industry leading blockchain security company Peckshield released the Lucidao smart contracts audit report and no critical issues were found. Peckshield is one of the most renowned security companies in the world, ranked top 3 worldwide in the Ethereum Bounty Program, and very specialized in Defi smart contracts audit reports.
The possible future developments are vast, including the creation of marketplaces, crypto gateways for products and services, e-learning platforms and consulting services for DLT/Blockchain ventures as an example.
The final goal is to go beyond the common belief that cryptocurrencies and blockchain technology are only speculative assets, by driving mass adoption and trust through utility.
-How can I share my ideas?
Everyone can be helpful in a DAO! On Discord, you will find channels to share your feedback on community
experiences, report bugs, discuss proposals and share yours!
We have already submitted the application for CMC. We are expecting to be noticed shortly.
-Is it possible to join the Lucidao team?
As a formulated DAO, we are open to having you onboard. We welcome members of the community who contribute and provide value for the broader team by contributing to the community.
-Is it possible to speak to the team?
Of course, we’re available on Discord anytime. We also do live AMA’s regularly to discuss questions openly.
-Will there be an Airdrop?
No sir, no airdrop here!