Hi Team,
Today I have a few updates on the completion of the Ludus pools, and great news on the Ludus Income pools, new partnerships, and more.
Ludus Pools
After the completion of the initial distribution of Ludus tokens over a 31 day period, all tokens have been successfully distributed with a total supply of 33,000, total supply is expected to be reached on etherscan.io after all the rewards are claimed from the Ludus Staking Contract.
After the completion of the Ludus initial distribution Pool, we ended up with almost 200 new investors, over 400 members in our telegram community, and thousands of people reached through our social media users/influencers that are part of our Ludus Marketing team. We have also spent $0 so far on marketing, most of our growth has been organic through posts on social media, which are great signs for the future of the project.
Currently, there is still one more way to farm Ludus with Ludus/ETH LP tokens at the Farm provided by the Nerds here: https://covenants.eth.link/#/farm/dapp/0x2A0ac15FA6Cc7D1E0A4E578b3Aa95925F415Cc8E
It has been a critical week for Ludus's future and the future looks really bright.
One of the biggest challenges that Ludus is solving is the fair distribution of value back to the users that generate it. There are hundreds of different ways we have thought to approach this problem because there are two main problems we are taking into account, fair distribution of value and validation of scores; we need to distribute Ludus Income after each match to 4 different parties: player #1, player #2, nodes, and validators.
For the smart contract to fairly distribute rewards tokens (Li), it must have a reference to base upon. In this case, that reference for the smart contracts to work in the case of Ludus is going to be ELO tokens.
Introducing ELO Tokens
ELO tokens will be non-transferable tokens owned by the users that participate in the Ludus League.
When a user registers the Ludus League each user gets 1200 ELO tokens (from that sport) into their Ludus Wallet.
The ELO tokens will be then either minted (after a win) or burned (after a loss) from the user’s Ludus Wallet, relative to their input score into the Ludus League.
There will be one ELO token and therefore ELO ranking for each different sport, ie: ELO Tennis, ELO Basketball, ELO Fifa, etc…
At the end of each day, Ludus Income will be distributed to all the players in the Ludus League relative to the sum of all the ELO tokens from different sports in the different Ludus Leagues that the user is participating in.
How does ELO work again?
As in the current Ludus League inside the Ludus App, Elo rating works with a formula that allocates players along with a league relative to their skill. Inside the new Ludus app, all players will start at a base ELO rating and work their way up the ladder from there, if the ELO ranking from one user reaches the next category, after the end of a season the user will remain in their last Ludus category(ie: silver, gold, platinum).
New Partnership Announcement!
To achieve all of this, we officially announce a partnership with an experienced team of developers and designers from the Netherlands that have previous experience in the crypto space and will bring the necessary experience and professionalism to the project.
Most specifically this strategic partnership allows us to create a brand new app with a suited framework for cryptocurrencies that will work around the Ludus Wallet, ELO tokens, and Ludus Income.
Tomorrow I will have more information on the deadlines for the new app but we have summer 2021 as our goal to reach.
In the meantime, we will be working on updates to the interface and opening up the current application to more countries in both stores to keep the community engaged with the project. Expect new Login options, an easier registration process, bug fixes, and a simplified user interface while we work on the new and upgraded Ludus app.
Ludus Income Pools:
So after all of this, today I had to decide on either launching the regular Ludus Income pools today and distribute a simple token that will have to be token swapped shortly to a Ludus Income contract that takes into account the new ELO tokens or to work hard for one week and start the new Ludus Income pools with the contract that will have a long-lasting value for the company.
New Ludus Income pools will come out in one week from today, taking into account the new ELO tokens system model into the new protocol.
TL;DR
1.-Completed Initial Ludus Distribution
2.- Great organic growth
3.- New Partnership announcement
4.- New ELO token system
5.- Ludus Income pools update
Big things are coming up, the team is moving well and the community is growing rapidly, this is only the beginning.
jose.
