LEGION
- Status:
- Validator
- Net address:
d0valoper17jv24mxfce42lkunjt93p3v5cx6nd3zuc8fa4s
- Foundation date:
- February 10, 2021
- Foundator:
- Legion Group
- Stake:
- 5,153,406 DEL
- Fee:
- 8%
- Tokens:
- LEGIONGAME, LEGIONDOCS
- Voting power:
- 5153406
- Delegators:
- 81
- Telegram:
legionDEL
- Note:
- Digital space for learning and earning from anywhere in the world.
LEGION is a validator of the Decimal blockchain since February 10, 2021, created by Legion Group.
This document will describe the idea of Legion Group, which guided us when opening the validator, and the strategies that we are already implementing based on our own experience.
We created this document so that anyone who wants to build a business with DecimalChain blockchain can understand how our validator can bring value to them or their company through this document.
In our view, this is also a contribution to the strategic development of the network: the more ready-to-use and applicable cases there are, the more new validators can join the network's development, making it stable, as they come to stake validators to improve business efficiency.
That's why we wrote a bit more than we could have written, essentially creating our own White Paper for the validator. As our company is dynamically developing, the White Paper will be updated as we add new development strategies.
We hope that this document will be truly useful and have a positive effect on the network's development, inspiring the reader to become a part of it.
LEGION — more than just a validator
That's the motto we chose for our "white book" (white paper) because we didn't come here to mine coins and make fiat profit, although this goal is indeed evident for us and for anyone reading this text.
We came here to support the network and take business to a new level thanks to the growing issuance of new coins. And in order for this to happen, we need to contribute to attracting delegators.
Therefore, we came here to develop the network, as this is the key action we need to focus on to solve our business tasks.
Moreover, it is very important for us that our positioning in the Decimal community is so clear that any user reading this document can see the full picture and understand who we are and how our validator fits their needs.
By the readers of this document, we mean several categories of people:
- Developers and the Decimal team, who will understand who and what serves their development.
- Potential delegators who want to understand if they will delegate their balances to us.
- Potential validators who want to determine why they should become validators or want to learn how other validators build their businesses.
- Anyone who wants to understand what this "beast" - the LEGION validator - is.
The Legion Validator is a strategic tool for the development of Legion Group, created to conduct business by means of the DEL emission.
Profit distribution
- Fulfillment of loyalty program obligations.
- Payment of partner rewards.
- Advertising campaign to attract new users.
- Costs for creating and maintaining online schools and the validator.
- Salary payments to employees.
- Development of the Legion Group brand infrastructure.
- Payment for trading tournaments.
- Dividend payments to founders.
- Reward for achieving ranks (qualifications).
- Payment of commissions for issuing blockchain technology certificates.
- Payment for company's multisend and multisig transactions during client registration.
- Conducting giveaways and other promotions to promote the company.
To achieve the main goal, Legion Group sets one main task for itself — to develop the Decimal network by attracting new delegators, thereby earning commissions from their delegation.
Thus, Legion Group is directly interested in the growth of voting power to fully cover its expenses and make the business self-sustainable.
Development strategy of the LEGION validator network
To accomplish our main task, we must attract new users since we only earn commissions withheld from their delegated balances.
To put it simply, we earn income from the earnings of people who trust (delegate) their coins to us for generating new coins, while keeping them frozen in our own wallet rather than on our own wallet.
The more coins people delegate, the more we earn together since we have no income without people, and people have no income without us.
Therefore, as a validator, we are obliged to provide a high-yield, reliable, interesting, and understandable service, ensuring the security of users' balances, while increasing people's engagement in cooperation with us.
Based on these ideas, Legion Group will develop the network by combining four strategies.
- Attracting new users through tokens LEGIONGAME.
- Attracting new users through offering to delegate DEL to the validator on favorable terms.
- Attracting new users through gifting one or multiple course levels for delegating to the validator.
- Creating a referral and bounty programs in blockchain for financial incentives in user attraction and delegation to us.
Strategy #1
Attracting users through LEGIONGAME tokens.
LEGIONGAME tokens are a marketing tool utilized by the company during a 4-day free marathon.
During this time, participants can earn tokens for activities and exchange them for discounts or obtain the course for free.
The fifth day of the marathon is dedicated to introducing participants to the workings of the Decimal blockchain, its capabilities and advantages, as well as the basics of using the BitTeam exchange.
As a result of this session, participants will know:
- How to open a wallet and handle a password phrase.
- How to make a wallet-to-wallet transaction.
- How to create a token and its purpose.
- How to delegate or undelegate any token.
- What a validator is, how it works, and the meaning of each parameter.
- How to buy or sell any network token on the BitTeam platform.
At the end of the session, participants submit their wallets to the chat to receive the earned tokens, which will be distributed through a multisend transaction.
How it works
Potential buyers come to the marathon through various advertising channels and earn LEGIONGAME tokens by attending, providing any response during the session, giving feedback after each session, and completing additional assignments from instructors.
A responsible employee keeps track of the number of tokens earned by participants and records the results in an Excel spreadsheet.
The compiled spreadsheet is made accessible to the participants, allowing each individual to see their rank among all the learners.
The Legion Group team motivates everyone to earn even more tokens by organizing competitions among the activities.
On the fourth day of the marathon, the most engaged participants receive the course as a gift, while their points remain with them.
After the draw, the team offers to exchange the received tokens (still points in the spreadsheet) for a discount, where 1 token equals a 1% discount, but not exceeding 50% for the first level.
On the fifth session, everyone receives their tokens in their wallets, and in order to activate the discount or claim their gift, they need to delegate the tokens to the validator and pay for the first level.
Thanks to this system, the company achieves measurable results that enhance business efficiency:
- Increases the conversion of learners into customers by increasing engagement and providing the opportunity to earn tokens through a free course (by giving, we receive).
- Creates loyal potential buyers since it gives instead of taking during the initial interaction.
- Educates the attracted individuals on the basic skills of using the Decimal blockchain, who can potentially become delegators.
- Creates initial user balances through their own tokens and immediately receives them back in the form of delegated stakes (the user is already participating in the emission).
Network Development Mathematics
When we first applied LEGIONGAME tokens during a free marathon, we didn't have a validator yet. However, more than 30 out of 50 people who were on the stream opened Decimal wallets.
Thus, we expect to receive at least 50 to 300 delegators from each marathon who potentially can purchase DEL tokens for delegation.
If each of them buys 100 DEL, we will receive from five to thirty thousand coins in delegation from one stream. If each of them buys 1,000 DEL, we will receive from fifty to three hundred thousand coins in delegation from one stream.
If we only work with this strategy, when the validator is fully filled (1,000 slots), we will receive from 100 thousand to 1 million DEL.
This strategy is needed for us as a validator to reach the maximum number of people with two main objectives:
- Introduce people who don't want to learn from us to the DecimalChain ecosystem, to generate their interest in using it, as they will be able to delegate our tokens and understand how coin mining works. Eventually, they may buy a certain amount of coins to receive new DEL tokens, participating with us in the emission, or become network coiners.
- Invest our own tokens in our validator in exchange for a discount, reducing the missed profit through an increase in potential DEL buyers.
Strategy No. 2
Attracting users through offering DEL delegation to the validator.
The Legion Group team trusts Decimal developers, sees the project's potential for a long lifespan through the idea of integrating it into real business. Therefore, we have our own DEL tokens that work in the Legion validator.
Thanks to this, we can recommend this blockchain in terms of staking opportunities and obtaining fiat profits on the most favorable conditions.
Our validator has set an 8% commission, which is an average indicator among validators in the Decimal network. Thus, it is quite profitable to earn with us since we can provide a high coin generation percentage.
Additionally, if an investor attracted to the validator delegates 1,000 DEL coins to us, we offer them our tokens, which they can spend on paying for the first level of our course or even obtain it for free by completing various tasks related to delegating coins to our validator.
This strategy allows us to attract the investor's attention to our company's educational products that teach blockchain technology and remote earning from anywhere in the world using a computer or smartphone.
Students who earn remotely also participate in financial literacy classes, where we suggest investing 10 percent of their profits daily into our validator.
As a result, an investor who wins the course or exchanges our token received from delegation ends up attending classes and concludes that it would indeed be very beneficial for them to invest in blockchain daily to generate profits.
Strategy No. 3
Attracting users through donating one or more course levels for delegation
For our community in the Telegram channel, we organize various contests where participants can win our tokens. However, we have decided not to stop there and go further.
During our work, we noticed that some people wonder if they will benefit from our courses and how much they actually need them.
Our company's validator opens the doors to our online products for such individuals without them having to purchase them from us. Instead, they can simply delegate their coins to our validator in exchange for the first or other course levels.
In this way, a person starts receiving passive income from the course value, can always withdraw their coins to sell them, and completes the first level to get acquainted with us.
In fact, the person receives the introductory course for free (for us), but at the same time, they increase the stake of our validator, and we earn a commission from it.
In this strategy, there is always a risk of coin withdrawal by individuals after or during the course. However, this motivates us to create a product that people want to continue with, and for that, we always need to ensure the quality of education and customer service.
This strategy is good for four reasons:
- People don't pay anything and even receive income.
- People become familiar with our educational products.
- Our validator educates delegators while having a delegated balance.
- During the course, individuals receive rewards from the validator, and it helps determine if they will continue working with us.
- Thanks to this strategy, we can acquire customers for all the products of our company and earn even more together with them, following a WIN-WIN strategy, where both sides benefit.
Strategy № 4
Creating a Referral and Bounty Program for Material and Non-Material Motivations to Collaborate with the Validator
Our team is convinced that building a network of partners is one of the most powerful business development tools ever invented by humanity.
Each of our products has a high-income partner program, which allows satisfied users of our products to recommend us to their potential or existing partners.
Legion Validator is one of the company's products, so it also has a partner program, but it is built directly on the blockchain, which is why partner payments are made exclusively in the company's tokens.
However, in the initial stages of validator development, we will focus not on the partner program, but on the bounty program (token distribution) in order to create satisfied validator users who will themselves want to share our tool with others, as they will be able to earn tokens for delegation or other needs.
And only after interacting with us, these people can decide whether to use our partner program or not.
We do not build marketing based on network business principles, where rewards come from multiple levels, but only provide the opportunity to receive an instant bonus for the work done (telling — friend delegates — receives a percentage in our tokens).
Therefore, there will be no focus on "partnership" as people can talk about us even without our focus if they like it.
This is the approach we adhere to, and even if we are wrong about whether to focus on the network, we will not change our policy, as we have not been and will not be a network project.
Validator's referral program
Reward system for work done directly on the blockchain
We have decided to pay each person who motivates another user to delegate coins to our validator. This is nothing more than work done, and any work should be paid for.
But then the question arises: how to establish a connection, who came from whom, not based on a person's words, but through an accurate and reliable system for recognizing the partnership relationship between wallets?
We found a solution: to establish a connection, it is necessary to activate the wallet by sending one coin to your referral, thus establishing a connection between wallets.
We have prepared a partnership program instruction to provide you with a ready-made solution:
Tell a friend about our validator
- Open a wallet for them and teach them how to use the console.
- Send them one coin, establishing a connection with them on the blockchain through a transaction.
- Help them buy coins on the BitTeam exchange and send them to their wallet.
- Teach them how to delegate to our validator from their wallet.
- Send the validator owners a link to the friend's transaction and write the transaction amount.
- Receive our LEGIONGAME tokens in an amount of 10% of the invitation in tokens.
Thus, our referral program already includes the work of training a novice by a more experienced DecimalChain user.
The LEGIONGAME token exchange rate is 1 to 10, where one DEL token equals 10 LEGIONGAME tokens. Therefore, the referral payout in DEL tokens is equal to 1% of the amount deposited by the referral.
Bounty program
Bounty program is an opportunity to perform actions for which the company pays with its own tokens that users can use at their discretion.
Bounty can work in several ways:
- Reward for subscribing and commenting on channels and social networks of the validator or the Legion Group company itself.
- Giveaways of discounts on courses.
- Distribution of free access to the first stage of paid courses, provided that a certain amount of DEL is delegated to the validator.
The bounty program aims to attract attention to our products and increase the loyalty of unfamiliar people who may purchase full products after interacting with us.
We have already described the third option in general terms when introducing strategy #3, which is essentially a bounty, as the company earns solely from commissions without receiving payment for the course.
Case example
The entire course consists of four modules and costs 130,000 rubles.
- The first stage (module) of the course costs 6,000 rubles.
- The second stage (module) of the course costs 20,000 rubles.
- The third stage (module) of the course costs 40,000 rubles.
- The fourth stage (module) of the course costs 130,000 rubles.
Thus, a person assembles the course like a constructor, and to move on to the next stage, they need to compensate for the difference between the current payment and the next stage.
We propose delegating 300 DEL coins to the validator. With the value of one DEL coin at 17 rubles, the delegator will need to spend 5,100 rubles instead of paying 6,000 rubles at the organization's cash register.
At the same time, the coins are stored in their electronic wallet, belong to them, and generate new coins while they learn.
This bounty program introduces a person to the first part of the course and the quality of services that they may like, and they will purchase the remaining stages because they see the course from the inside. In addition, with a small amount, they can check the profitability of the validator and, if they like it, increase their balance in the future.
Such a way of getting to know us can create loyalty not only to the validator and courses but also to other company offers, as a person may like the interaction with the company as a whole rather than a specific product.
We believe that this method will ensure future earnings but already from loyal, rather than "cold" customers.
Delegation cashback
Cashback services are widespread in the market and provide the opportunity to get back a portion of the money spent on purchases.
We do not consider this a way of earning, but we think that implementing such a service will increase loyalty to our company.
We have decided that if a person delegates coins to us or constantly increases the delegated balance, they will receive a one-time payment for their trust when reaching a certain amount of coins.
- By delegating from 1,000 to 4,999 DEL, the delegator receives 600 LegionGame tokens.
- By delegating from 5,000 to 9,999 DEL, the delegator receives 1,000 LegionGame tokens.
- By delegating from 10,000 to 19,999 DEL, the delegator receives 1,500 LegionGame tokens.
- By delegating from 20,000 to 50,000 DEL, the delegator receives 2,000 LegionGame tokens.
- By delegating from 50,000 to 100,000 DEL, the delegator receives 3,000 LegionGame tokens.
- By delegating from 100,000 to 500,000 DEL, the delegator receives 7,000 LegionGame tokens.
- By delegating from 500,000 to 1,000,000 DEL, the delegator receives 10,000 LegionGame tokens.
In total, through the cashback program, it is possible to earn 25,100 tokens, which is equivalent to 2,510 DEL, and this gives the right to receive a full trading course for free by delegating 1,000,000 DEL. As soon as the delegated balance reaches a new milestone, the person receives a bonus for achieving a higher balance.
This program is not intended as motivation to purchase the entire course. To obtain the full course, one would need to invest 17 million rubles (with the course costing between 166,000 to 300,000 rubles).
However, during the process of increasing the balance in our validator and receiving dividends of up to 10% per month, the delegator has the opportunity to learn trading or gift the course to another individual.
Secondary benefits of working as a validator for the company
By secondary benefits, we mean the positive side effects of validator development, apart from generating income from commissions.
The validator essentially serves as an investment offering from Legion Group, expanding the company's target audience categories.
Moreover, through the validator, people will become familiar with other company products, and other company products will introduce their users to the validator, creating a system where one product sells another.
Next, let's discuss how deploying the validator opens up the opportunity to create a mutually beneficial ecosystem.
User Story #1
Vasily is looking for ways to earn money online and comes across an advertisement for a free cryptocurrency trading marathon. He attends the marathon, completes it, and earns tokens there. During the fourth session, he decides that he enjoys it and wants to purchase a discounted course using tokens.
To receive the discount, he needs to attend the fifth session, where he will be introduced to DecimalChain and learn how to use the BitTeam exchange.
After the fifth session, Vasily will confidently be able to delegate tokens to the validator and join the validator's channel and chat. In this way, he becomes not only a student but also part of the community. Throughout the course or trading process, he can increase his balances if he likes the idea of DecimalChain.
A similar case has occurred in the past, but we didn't have a validator at that time, so the person delegated 100 DEL coins to someone else. After the news about the validator's launch, he bought more coins and delegated them to us.
User Story #2
Vasily is looking for ways to earn money online and comes across an advertisement for a free cryptocurrency trading marathon. He attends the marathon, completes it, and earns tokens. However, during the fourth session, he decides that trading is not for him, he doesn't have enough money for it, or for some other reason.
But Vasily has earned tokens and wants to transfer them to his wallet. To do this, he attends the fifth session, where he learns about the Decimal ecosystem, gets sold on the idea, and learns how to use the BitTeam exchange.
Later on, Vasily might be interested in trying passive income from staking and decides to buy DEL tokens and delegate them to our validator, earning 9-10% per month.
Perhaps you might even feel inspired to create your own token for various reasons.
This case works as a sieve that filters out both target and non-target clients.
If Vasily enjoys trading, the validator becomes a place for him to invest future profits. If Vasily doesn't enjoy trading, the validator becomes a place for him to invest his money. We assist him with future investments and provide him with the opportunity to earn coins through mining instead of trading.User Story #3
A person who learns about Legion joins the validator's channel and chat, where token giveaways or other bounty programs, such as darts tournaments or dice games, are regularly held.
People win tokens and can gain access to discounted courses or receive rewards for delegation. In this way, they come to the validator but can also try our courses. In this case, the validator acts as a lead generator, creating loyal users of our products.
LEGION GROUP team
The Legion Group team is involved in the development of educational products that allow people to earn from anywhere in the world, regardless of age and education.
However, according to the company's roadmap, Legion Group will transform into the Legion ecosystem, which will consist of the Education Department (Legion Group) and the Service Department (Legion Service).
The Legion Validator is precisely a part of Legion Service, so the validator is administered by the Legion Group team.
Legion validator team
- Konstantin Medvedev, Director of Development, Founder. medvedev_legiongroup,
medvedev_legiongroup [1] - Vladimir Alexandrov, Financial Director, Founder. Vladimir_best, valexsandrov [1]
- Ilsur Galimov, Marketing Director, Founder. crocodile7777, ilsur.galimoff [1]
- Maxim Simankov, Operations Director, Founder. BTC174Pro
- Vladimir Skornyakov, Technical Director, Founder. SkornyaK_BTC
Validator infrastructure
Infrastructure refers to the equipment on which the software for maintaining the Decimal network is installed.
Being a validator is a very responsible task, as it involves the trust of delegators and the safeguarding of their balances.
That is why, to ensure the reliability of the Legion Validator, we use powerful dedicated servers in data centers in Finland and Germany, as well as several penalty protection servers.
The presence of penalty protection servers minimizes the risk of penalties for our validator. As soon as our server goes offline, the penalty protection server activates, and our validator continues to support the network.
Our servers are serviced and updated by technical specialists, which makes our work highly stable and comfortable for earning, while also reducing the risk of receiving a penalty to 1% of the balance.
It is not possible to completely eliminate the possibility of a penalty, but we do everything to make delegation to us as safe as possible.
Coin generation in the validator
Our validator charges an 8% commission for the work performed. This means that our validator retains 8% of the emission received by the delegator. The validator team earns only from the coin generation fees.
The profitability in our validator depends on two parameters:
- The share of our validator from the total number of delegated coins.
- Your share of the delegated coins in our validator.
In any case, you can expect around 0.33% per day from the delegated balance. The more you delegate, the more you start to earn, as increasing the delegation balance increases both our balance and your share in our validator.
Validator maintenance
The maintenance is carried out by the DecimalPro team, which, at the time of writing this whitepaper, has never received any penalties and already has experience as a validator in the MINTER network.
Since working with the validator is new to us, we have completely entrusted the maintenance to professionals who help us gain positive experience.
Official validator's resources
- Official channel: legionDEL
- Validator's chat: Legiondelchat
- Validator's website: currently under development and will be part of the Legion Group website
Conclusion
We have created the first version of our "whitepaper" that is intended to help the reader understand who we are and what tasks we solve with the help of the validator.
This document will be supplemented with our experience so that every reader can replicate our case and increase the efficiency of their business or build their business with us.
The validator opens up opportunities for us to connect our company's products and develop it both in terms of audienceand commission earnings.
Our team welcomes suggestions for editing and expanding the first version of the "whitepaper" to ensure that every line is clear.
If you want to make a proposal, establish a partnership with us, or simply ask a question, you can contact us through the official resources or any team member.
Notes