Legacy
Finite Supply. 100% Community Owned. You mint your own rewards. No middlemen.
What is Legacy?
Legacy is the currency of the Resistance! Think of it as Bitcoin’s cool younger sibling who went to business school and learned a few new tricks. The reason Legacy has been created is to allow people to preserve the monetary energy that they created and store the value of their wealth in a digital prosperity vault on a blockchain. Just like Bitcoin, which is considered a new 'flight to safety' by the trillion-dollar investment giant BlackRock, Legacy offers a similar store of value vehicle for those seeking an alternative to Bitcoin. It uses Bitcoin-like tokenomics but with some added game theory pizzazz. At it's core Legacy is a decentralized smart contract protocol built on the Ethereum network.
Through various mechanics Legacy has been designed to resemble Bitcoin: it has a mining phase, programmed inflation that gracefully bows out to zero, and difficulty mechanism. It's like having a digital piggy bank that lets you build your own "legacy" on a secure blockchain.
You can mint Legacy by running piece of secure code on your computer or on your phone once and waiting anywhere from 1 to 280 days - you decide how long you want to wait. After that you can mint your own rewards by running the same code again. You are rewarded if you commit to wait longer for the rewards. The longer you wait, to more rewards you get.
Legacy is completely decentralized and runs on the battle-tested Ethereum network. Here’s why it’s awesome:
You mint your own rewards: No pesky middlemen, no minimums
Finite supply: Like your grandma’s secret cookie recipe, there’s only so much to go around
100% community owned: No VCs, Shadow figures who got the tokens super cheap and are waiting to dump the bags on your head.
No negative externalities from staking: You do not inflate Legacy supply by claiming staking rewards.
What's up with this monetary energy?
Very good question! This is a subject for a whole video but in short, money is energy. Why? Because when we work for money we exchange a limited resource we have, which is our time, for money. We use energy to produce dollars, euros, pesos or any other currency we are being rewarded in. Since we exchanged our time for money, this monetary value has our energy in it. Now the problem is that this energy/value is being stolen from us every single day through inflation. Governments and central banks like to rob us from our buying power since they can produce the currency without limits, diluting anyone who holds those currencies. What they are doing ultimately is robbing us of our life. You can learn more about these concepts from Robert Breedlove as he was the one talking about in publicly.
So Why Legacy?
Because Crypto is for the people!
When Satoshi released the Bitcoin white paper in late 2008, he proposed for the first time a system of borderless, global, digital money. The network of Bitcoin nodes is leaderless yet maintains monetary and cryptographic soundness through the process of distributed consensus.
Bitcoin removes politics from money and offers an isolated silo where money can flow.
To understand the deep WHY behind Legacy one has to first understand why Bitcoin was invented in the first place. Remember what we said about governments and central banks above? They steal our buying power impoverishing us with each day. Satoshi created Bitcoin to counter exactly that inflationary nature of our monetary systems. He created it to offer the people an option to store their monetary energy in an asset where they would not be diluted without their consent which is what's currently happening around the globe with FIAT currencies.
Legacy sets out on a mission to provide this option for regular people who missed out on being early in Bitcoin but still want to experience participating in an open, inclusive, vibrant ecosystem that will grow with Bitcoin's and Ethereum's success and offers the probability of outperforming Bitcoin and Ethereuem in the bull cycles to come.
Why should I own Legacy?
Legacy is one of the 5,000 tokens that get created each day in Cryptoland. It is difficult to choose which assets are the winners. But you need to know that the main utility for Legacy is the token itself and the value it can provide in a inflationary environment. With rising inflation around the globe, people being pushed to the edge because they barely make ends meet, and upcoming bull market in crypto (Not Financial Advice) Legacy, which is 100% owned and minted by the community, could do fabulous in a hyper-euphoric bull cycle or it could do very bad. At the end of the day the market decides. Sometimes Elon Musk. However, there are similar DeFi projects out there which launched in the last 4 years and they did extremely good. Whether you should have a portion of your portfolio in Legacy depends on the risk/reward appetite you have. If you are hungry, you get some Legacy. Having a diversified portfolio is a great investor strategy to increase the probability of being "the smart money" during the next bull cycle.
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