White Paper

WORLD LEAGUE OF CRYPTO TRADERS (WLOCT)
Decentralized blockchain platform for tournaments of cryptocurrency exchanges
traders
WHAT IS WLOCT
Decentralized blockchain platform for regular tournaments of cryptocurrency
exchanges traders (centralized and decentralized) to set up:
- Professional League of Cryptocurrency Exchanges Traders
- Official Ranking of the World’s Best Crypto Traders
TARGET AUDIENCE
79 000 000+ active crypto traders competing in professional skills, promoting
themselves to investors and increasing their income* (* - accordingly DataLight.com).
300+ cryptocurrency exchanges which demonstrate their capabilities,
(extend/increase) customer base, sponsor and organize tournaments * (* - accordingly
CoinMarketCap.com).
50 000+ cryptocurrency service providers which promote themselves, increase their
recognition, and attract new customers* (*- accordingly Chappuishalder.com).
HOW IT WORKS
Step 1 – free trader’s registration in a League and linking his account to his exchange
(a member of the League doesn’t have any extra hassles, as he trades in his exchange
dashboard);
Step 2 – making a tournament fee and playing a tournament (for example, 10,000
participants of a tournament with a tournament fee of 100 BUSD form a prize pool of
1 million BUSD which winners will get net of a League's commission);
Step 3 – smart-contract players ranking and prize distribution (winners of a tournament
are defined by the best ratio of profit to deposit during the tournament).
AVANTAGES
For traders:
• Free registration and participation in the League tournaments with the help of the
user-friendly interface;
• Trade skills rating and recognition, attracting new customers, competing a high prize
pool;
• Formation of the professional decentralized League of Cryptocurrency Exchanges
Traders and involvement in its development and improvement.
For exchanges:
• Organic increase of trading activity and engagement of the traders;
• Attracting new customers by tournament sponsorship, demonstrating the new trading
tools and services;
• Organizing and carrying out international and local online tournaments, which results
are fixed in the blockchain.
TOURNAMENTS
Calendar tournaments - daily/weekly/monthly/seasonal/annual official WLOCT
tournaments which are held regularly and don’t have any limitation to take part in.
Master’s tournaments - WLOCT sponsored tournaments, which rules and terms are
agreed with the sponsors of such tournaments.
Private tournaments – limited-access tournaments which are organized
independently by WLOCT partners, determining their terms, rules and participants.
ARCHITECTURE
Decentralized and distributed WLOCT architecture is based on a core of two
distributed registers:
Blockchain #1:
BSC (Binance Smart Chain) is used as an optimal one from the perspective of:
- transaction fee and technical characteristics,
- ownership register and circulation) of LOTT and its derivatives,
- game NFT certificates,
- implementation of tournament smart contracts and liquidity pool,
- governance and other protocols.
Our choice of such technical solution, besides optimal transaction fees is based on
constantly growing community (66 million unique blockchain addresses – 22.04.2021)
and speed/volume of processed transactions (daily transactions by 600% as it
reached 9M in daily transaction volume (ETH ATH is 1.5M transactions)*
https://www.crowdfundinsider.com/2021/04/174491-binance-smart-chain-surpassesethereum-in-daily-transactions-bsc-also-surpassed-dapp-count-of-eos/
Blockchain #2:
IPFS (Inter-Planetary File System) is a distributed file system integrated with the BSC
for storing and accessing large amounts of game and graphical information also
associated with the NFT.
Decentralized and distributed WLOCT architecture provides
● players assets control on BSC custodial wallets;
● implementation of tournaments on smart contracts with programmed and
transparent logic of games, distribution of prize pools and rating points;
● unified transparent and automated rating logic;
● decentralized mechanism of tokenization, commission distribution and LOTT
liquidity provision;
● DAO-mechanism for implementing protocol management and project
development.
MONETIZATION
Project is built as a decentralized autonomous organization and doesn’t aim to
monetize operational activities. The project team is incentivized by LOTT tokens
allocation that will be unlocked 1.5 years after the start of the project. The tournament
and protocol commissions (liquidity pool exchange, staking, lending) will be charged
to cover the operational and development costs of the project.
GOVERNANCE/UTILITY LEAGUE TOKENS (LOTT)
LOTT is a BEP-20 utility and governance token limited to 100,000,000 (100 million)
units.
Purpose of the token is to manage and govern the platform, reward users and encourage
their activity.
LOTT are used for:
- “Governance” and “Staking” – an operational management and platform
development. “Governance” deposit holders participate in “Governance staking”
distribution of a limited number of LOTT tokens (1 million units) every 18 months
on a “Proof of Stake” basis. The number of distributed tokens will be predetermined
by a “halving” type model similar to BTC, with the exception of the fact that after
each round there will be an equal amount left to be divided by two in the next round
of accrual;
- an access to the higher level tournaments, including those a player is not qualified
for or does not have the appropriate game NFT;
- users’ commission payment for NFT tournament tokens (TNFT) minting based on
the results of tournaments in which they participated
- Member/Pro/Expert/Partner membership which gives them an access to additional
WLOCT functionality and privileges;
- “Lending” -LOTT tokens with a BUSD commission fee being paid to players for
“staking” LOTTs to access the higher level tournaments.
An overall tournament mechanic
Each tournament is implemented in the form of a smart contract to which each user
transfers the tournament fee (TF) nominated in BUSD to participate.
TF is nominated in BUSD dollars - but users can deposit in all major cryptocurrencies
and have their funds automatically converted to BUSD and deposited to their custodial
BSC (Binance Smart Chain) wallet for further transferring to the corresponding smart
contract of the tournament.
If the player does not have the appropriate gaming status (Member/Pro/Expert/Partner)
to be admitted to higher level tournaments, the LOTT staking is required. The LOTT
is to be procured from the LOTT Liquidity Pool or lent from the LOTT Lending
Protocol.
Winner of the tournament gets ALL deposited BUSD funds except those distributed
among the LOTT Liquidity Pool (15%), the Partial Early Liquidity Protocol (5%) and
Operational Vault (10%). The latter’s funds are to be used to cover operational
expenses related to protocol and infrastructure support.
5% distribution to Partial Early Liquidity Protocol is to provide early benefits for
locked LOTT holders. After the end of all LOTT locking periods this part of the funds
will be distributed to the tournament winners.
NFTs game consists of tournament score weight and information and can be minted
with LOTT nominated minting fee by a player request.
LOTT Governance Protocol is to administer the tournaments dynamic parameters, such
as commissions %, distribution proportions, etc. and to support or reject voting
proposals relating WLOCT ecosystem development by WLOCT community.
LOTT GOVERNANCE
All token holders with the authorization levels starting from “Member” and above are
eligible to participate in the project governance and those ones with the authorization
from “Expert” are subject to LOTT Governance Staking Reward (LGSR).
All WLOCT members that stake LOTTs to Governance & Staking Protocol (GSP) are
forming a LOTT governance committee that is authorized to modify LOTT Protocol
dynamic parameters and to support or reject voting proposals.
The number of committee members is determined by a number of wallets that are
staking to the LOTT Governance Protocol (GP):
An overall voting model
When voting, the value of a token’s vote will be determined not only by its numerical
weight, but also the length it has been held by the owner and presented by each member
Weighted Voting Power (WVP).
Where:
LOTTs(amount) – the amount of LOTTS staked to GSP
LOTTs(staking) – the amount of all LOTTS staked to GSP
P(staking) – the period of LOTT token staking prior to voting
P(circulation) – the period of LOTT tokens circulation
Each committee member can withdraw their funds from GSP at any time at their
discretion, and stake again. However, if the staking was interrupted, the P(staking)
period is deemed to be restarted too.
When voting, all committee members` WVPs are summed, and when a proposal
receives a simple majority of overall WVPs score, it is deemed to be approved and the
new protocol parameters will be applied or voting proposals are deemed to be
confirmed.
- sum of positive votes weight
- sum of all votes weight
LOTT Governance Staking Reward (LGSR):
Each committee member who stakes LOTTs for the authorization level “Expert” and
above is eligible for the LOTT Governance Staking Reward (LGSR) subject to
Weighted Voting Power (WVP) and the Reward Volume to be distributed.
Governance Staking Reward is distributed each 18 months. The Reward Volume for
each round is calculated as halving of the remaining part after distributing in the
previous round. The initial amount for distribution equals 1,000,000 (one million) of
LOTT.
To illustrate the Reward Volume halving:
Thus, each committee member Governance Staking Reward (LGSR) for each round:
- Weighted Voting Power of a member with the
authorization level “Expert” and above
- Sum of weighted Voting Power of all members with
the authorization level “Expert” and above
- Reward Volume to be distributed in the round
LOTT LIQUIDITY POOL
LOTT Liquidity Pool is a means of LOTT liquidity support and secondary token
circulation.
15% for all BEUD funds are to be deposited to the LOTT/BUSD pair in LOTT LP
(Liquidity Pool) by all tournaments smart contracts thus providing ongoing LOTT
liquidity. LOTT LP is a way to sell or buy LOTT in a seamless way as well as determine
the current balanced LOTT/BUSD exchange rate.
LOTT holders may be liquidity providers to have a farming reward. To do so they must
deposit a pair LOTT/BUSD tokens proportional to the current price. Whenever
liquidity is deposited into a pool, unique tokens known as liquidity tokens are minted
and sent to the provider’s address. These tokens represent a given liquidity provider’s
contribution to a pool. The proportion of the pool’s liquidity provided determines the
number of liquidity tokens the provider receives.
Whenever a trade occurs, a 0.2% fee is charged to the transaction sender. This fee is
distributed pro-rata to all liquidity providers in the pool upon completion of the trade.
PARTIAL EARLY LIQUIDITY PROTOCOL
For the WLOCT community we provide the absolutely new and unique early partial
liquidity protocol for the locked tokens. The PELP protocol (Partial Early Liquidity
Protocol) distributes 5% of all LOTT tournament funds among all holders with at least
20,000 locked LOTTs in one wallet during all locked periods.
Eligible wallets:
The distribution occurs as soon as the tournament smart contracts defines the winner
and splits funds among the winner (70%), the LOTT Liquidity Pool (15%), the Partial
Early Liquidity Protocol (5%) and Operational Vault (10%).
Each eligible wallet is deposited with the PELP reward proportionally number of
locked LOTTs:
- a number of LOTTS locked in a wallet (if)
- a number of LOTTS locked in all wallet with more than
- per wallet
- a distributed amount of BUSD by the Partial Early Liquidity
Protocol
LOTT LENDING PROTOCOL
The LOTT Lending Protocol - a pool attached to an audited smart contract to supply
extra liquidity to WLOCT ecosystems and to give extra incentives to our community:
LOTT-i: an interest LOTT token as proof that a lender has placed LOTT into the pool
that will be issued as he lends LOTT to the pool and represents his right to earn an
interest on his LOTT if someone else borrows them.
LOTT-d: an expirable and non-tradeable derivative of LOTT that will be issued to a
borrower based on the length and volume of LOTT borrowed.
BUSD Fee is determined from how much and for how long a borrower would like to
lend the LOTT and what is the balance between lent and borrowed LOTT tokens in the
pool already – the more borrowed the higher the fee.
In the LOTT lending protocol, a borrower will have no need for collateral, and so there
is no risk associated with borrowing.
The lender always gets their interest paid in more LOTT-i, so that you can either
withdraw LOTT from the pool or let your portion in the pool just keep growing.
EMISSION AND CIRCULATION OF THE LOTT TOKEN
LOTT Token Sale
70 million of LOTT (70% from the) will be implemented during the three sale rounds
with the following periods of “lock”:
It is planned to have a closed (private), public round and a round of pre-sale sale of
LOTT tokens with different locking periods. All unsold tokens will be burned and will
be available only when purchased from the secondary market - thus forming a
deflationary growth model for the LOTT value.
Total supply - 100 million LOTT
LOTT’s value will be nominated / pegged to the US dollar (BUSD).
Nominal Price (the final public sale price) = 1 LOT = $ 0.075
After the end of the public LOTT sale round, all unsold LOTTs, with the exception of
those allocated to the team and others (marketing, foundation, ecosystem), will be
burned by calling the burn function. The LOTT coin burn transaction can be verified
using the transaction explorer.
Token distribution and fund allocation
TOKEN DISTRIBUTION
Marketing & Listing
4%
Ecosystem
3%
Foundation
3%
Private Sale
8%
Pre-sale
10%
Public Sale
52%
Team
20%
FUND ALLOCATION
5%
Reserves
10%
Marketing &
Community
41%
Operations
11%
IT Development
33%
Token Unlocking
The unlocking schedule for LOTT tokens ensures their gradual inflow into circulation
and is limited to a maximum volume of 100 million LOTTs, thereby limiting the
volume in circulation and forming a deflationary model of the token.
LOTT TOKEN APPRECIATION MODEL
Model used to estimate the value of the asset
For the combined token model, it is necessary to consider:
- methods for using LOTTs in the WLOT services, including staking;
- model for LOTTs issuing into circulation: token sale, vesting, locking, burning;
- forecast of the frequency of use (asset circulation rate).
The model for estimating the LOT value depends on the amount of LOTTs in
circulation, the size of the required (anticipated) monetary base and the volatility
(turnover) of the LOTTs. The model can be represented as an exchange equation:
M = the size of the monetary base required to support the Crypto Economy (the GDP
equivalent) is determined by the forecast of the market value nominated in fiat currency
of all “end users” services (that is, intended for direct consumption, use or application)
produced and sold by the WLOT platform during the period;
V = the velocity of the asset (LOTT) in the period;
P = the price of the provided digital asset – LOTT;
Q = LOTT volume in circulation in the period.
Thus, the value of the LOTT asset in the period will be:
For this economic model, authorization levels are assumed to require “staking" –
“depositing” of a minimum number of LOTTs to use the service. Thus, these tokens
after purchase will be taken out of the circulation, and the formula will be:
Where:
Msale - the size of the monetary base of all WLOT services except of authorization
ones;
Mauth - the size of the monetary base of the WLOT authorization services:
Qauth (prev.) - the number of LOTT tokens that were removed from the circulation by
the users to acquire authorization access in the previous periods;
M - is determined by TAM (Total Addressable Market) and the forecast of the use of
platform services by months;
Q - is determined by the scheme of LOTTs issuing and unlocking, the forecast of
LOTTs staking (deposits) percentage in periods.
V - is to estimate the velocity of an asset in a period, it is suggested to use the velocity
indicators of the Ethereum network.
The daily average monthly number of transactions per day in the period from January
2021 to April 2021 fluctuates in the range of 1.11 - 1.29 million transactions per day.
Thus, for Ethereum, let's take the average = 1.3 million transactions per day or 39
million transactions per month.
Number of ETH in circulation = 115 million
Thus, the monthly turnover will be:
Scenarios/models of the LOTT value fluctuation token depend on the volume of LOTT
in circulation, the size of the required (estimated) monetary base and volatility
(turnover) presented in the following tables.
The size of the monetary base (the plan for the growth of the client base and the
use of services) and the estimation of the value of the LOTT token
With 0.1% penetration of TAM (Total Addressable Market of active traders) - up to 80
thousand people during the first year (excluding the speculative growth of the LOTT
rate and farming) *:
*50% of the available tokens from the private round will be sold on the public (2) in
November-December 2021, a free exchange of the LOTT token will be available
LOTT TOKEN VALUE VALUATION VS. SALES ROUNDS NOMINAL
VALUES
LOTT token value estimation in comparison of nominal sale prices at the rounds:
private, pre-sale and public sale.
The potential price drop of the LOTT at the start of trading will be balanced by the
demand for LOTT staking to access the platform's authorization levels.
It is important to note that in the presented model, all available (unlocked) LOTT
tokens are immediately available for trading excluding the farming in the LOTT/BUSD
LP and their potential investment holdings in the acceptance of their value growth.
WLOCT TOURNAMENT NFT TOKENS (TNFT)
TNFTs are unique WLOCT tournament tokens which can be minted on players’
demand as a proof of their participation and results in a tournament.
TNFT gives a bonus to rating points and provides admission to certain types of
tournaments.
TNFT includes such information as:
1. Date and time of a tournament (e.g., Jun, 02, 2021 or May 02-07, 2021);
2. Name of a tournament (e.g., WLOCT May Weekly Tournament or WLOCT
June Day Tournament);
3. Number of players (e.g., 8659 players);
4. Player’s rank (e.g., 1 place or 239 place);
5. Sum of a prize in BUSD (e.g., 280 000 BUSD);
6. Rating points (e.g., 5867 rating points);
7. WLOCT logo (a winner TNFT logo differs from a player TNFT one by design);
High ranked TNFT (by a number of players and a sum of a reward) will get a
unique and original digital artwork, copyrighted and stored in IPFS.
ROAD MAP
Q2 2021 – platform testing, smart contract’s audit, LOTT issue, soft launch of MVP
platform
Q3 2021 – release of platform beta-version, promotion and optimization, increase of
active audience and expansion of partnership base
Q4 2021 – development of tournament mechanics, launch of the tournament
marketplace, expanding the geography of WLOCT presence, multilingualism
Q1+ 2022 – platform functionality development, introduction of the protocol for
following the best traders’ deals, PAMM-system for collecting investments and trust
management