The rationale behind $LEGEND

$LEGEND utilities

We group the utilities in two: Compete2earn or “supply”; and Participate2earn or “demand”.

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Participate2earn: Token Utility

• Staking Rewards: Fans can earn rewards through staking mechanisms, incentivizing long-term engagement and investment in the platform and its athletes.
• Buy Fragmented Trophies, awards and collections: Fans can buy fragmented shares of NFTs monetized by the player or club, offering a unique way to invest in and support their favorites.
• Participate2Earn Model: This unique model allows users to bring in their tokens and stake on athletes or clubs for tournaments or matches to earn platform rewards and other exclusive benefits.
• Support Emerging Stars: Fans have the opportunity to pool money to support their favorite athletes in achieving their dreams, with the potential to enjoy benefits following the athletes' success.
• Fan Engagement: Initiatives designed to increase fan involvement and interaction with the platform and its athletes, enhancing the overall experience.
• Discounts & Benefits: Fans can access various discounts and benefits as part of their engagement and support on the platform.
• Sponsorships: Opportunities for fans to engage in sponsorship activities, further supporting their favorite athletes or teams and receiving recognition or rewards in return.
• Voting Rights: Fans receive voting rights on certain decisions within the platform, empowering them to have a say in its direction or in matters related to athletes and teams.
• Introducing a token to the sports competition ecosystem can improve the fan experience, increase sponsor participation, and foster greater transparency and equality in the competition. By rewarding athletes, referees, and volunteers, while also providing benefits to fans and sponsors, the entire ecosystem can benefit from a more equitable and rewarding system.

Compete2earn: Token Rewards

Multiple ways of reward athletes, clubs and national teams for competing and bringing their fans to the ecosystem

• Compete2Earn Rewards: Athletes earn rewards for competing and achieving various milestones, such as participating in a certain number of matches, competitions, or reaching specific achievements like kilometers run.
• Sport Promotion Fund: A percentage of every transaction within the ecosystem is allocated to a pool dedicated to supporting sports promotion initiatives. This can range from aiding an athlete in traveling to an international event to creating playing fields in remote areas, fostering the growth and accessibility of sports activities globally.
• Fan Engagement Rewards: Athletes and potentially fans earn rewards for attracting users to the ecosystem and engaging with the community, such as through views of trophies and awards, encouraging active community building and interaction.
• User Rewards (from Participate2Earn): A reserve pool, established prior to the launch of tokens, distributes rewards. This pool benefits from inflows like transaction fees and other revenues, rewarding users for their platform engagement.
• User Rewards (from Activity Levels): Based on the platform activity and engagement levels, users are awarded rewards occasionally, promoting a vibrant and active platform community.
• Rewarding Referees and Volunteers: Recognizes and rewards the critical contributions of referees and volunteers to sporting events and the operational success of the platform, ensuring their dedication is acknowledged and valued.

Network effects and economic flywheel

The essence of blockchain technology, which was first used by Bitcoin and later adopted by Ethereum, is the reward system it provides for nodes in a network based on their contributions. While Bitcoin's network relies on the computing power of nodes, this same philosophy can be applied to any type of network or ecosystem.

Consider the world of sports, which is composed of a vast network of engaged nodes, including fans, athletes, coaches, staff, volunteers, referees, and brands. This network represents the largest in the world, with every sports competition serving as a node. Whether it's football, basketball, chess, video games, or board games, everyone has likely participated in a competition at some point in their life.

$LEGEND serves as the fuel for the sports network, rewarding participants in real competitions, from grassroots to the World Cup. These competitions are primarily organized by federations and private leagues and are contested by clubs and athletes, with volunteers helping to organize them and referees arbitrating them. Clubs and athletes also attract fans and are of interest to brands. Competitions generate sports data and bring together a community that is also interesting for other projects or data subscribers.

This is the network that $LEGEND will cover, and the potential benefits are limitless. As the network grows, the token's utilities will increase, providing token holders with more benefits and discounts with brands, greater interaction with athletes and clubs, and increased participation in federation events. $LEGEND is poised to revolutionize the world of sports, and its potential is limitless.

Overall, $LEGEND provides various benefits and utilities for sports fans and token holders, creating a more engaged and connected community within the sports world.

<aside> 📎 $LEGEND Token

Name: Legend Ticker: $LEGEND Blockchain: Ethereum, Polygon, Chiliz Chain Total supply: 1.000.000.000 Contract address: coming soon

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