Question 1

What is LF, and does holding it represent an interest in LF Labs?

Accepted Answer

LF is a utility token used by the Lovely Legends platform for rewards, trading, and certain platform functions; it is not an equity interest in LF Labs or an investment certificate. Holding LF does not grant company ownership, equity, dividends, revenue sharing, or governance rights. Technically, LF is an ERC-20 token with 18 decimals on Ethereum; the platform also handles its bridged representation on Solana. LF may be used as the reward unit for the platform's mining, staking, and referral programs, and it can also be traded in the platform's LF/USDT order book. Being tradable or rewardable does not change the fact that the token carries no company interests.

Question 2

How does LF “mining” work, and how does it differ from traditional mining?

Accepted Answer

LF “mining” as described by Lovely Legends is not proof-of-work (PoW) or hardware mining. It is a platform rewards program: users use supported crypto assets to purchase mining rights, which continuously accrue LF over a fixed 120-day period. ETH, USDT, USDC, SOL, or POL from a wallet balance may be used for the purchase, with a minimum equivalent of USD 0.50; LF itself cannot be used to purchase mining rights. At purchase, the system randomly determines a multiplier from 1.5x to 4x. This multiplier determines the total LF output for that mining right throughout its entire term, cannot later be changed, and does not depend on how long the user remains or on user actions. Rewards accrue continuously over 120 days. At the end of the term, the right expires and does not renew automatically. When users claim accrued LF to their main wallet, the platform charges a fee of 0.5% of the claimed amount.

Question 3

How does staking assets on Lovely Legends earn LF, and can users exit early?

Accepted Answer

Platform staking is a custodial balance rewards program operated by LF Labs. It is not delegation of assets to blockchain validators, nor does it lock assets in an on-chain smart contract. After users select a supported asset and plan within the platform, assets move from the wallet balance to a staking position, while rewards always accrue in LF. Flexible staking can be unstaked at any time. Fixed staking has terms of 30, 60, or 90 days and generally offers higher rates, but it cannot be exited early before the term ends, and there is no option to unlock early by paying a penalty. Rewards accrue progressively for the position, and a 0.5% claim fee is charged when they are claimed to the main wallet; claiming rewards does not itself end the staking position. Rates for each plan are set by LF Labs and displayed in the app and may change, so example rates on a page must not be treated as guaranteed returns.

Question 4

Where do LF referral rewards come from, and do they reduce the referred user's rewards?

Accepted Answer

Referral rewards have two separate sources: the referrer may receive 10% of the referred user's mining rewards and staking rewards, as well as 50% of the trading fees paid by that user; all of these referral proceeds are credited in LF. Both types of rewards arise only after the referred user actually mines, stakes, or trades, and they are paid additionally rather than deducted from the referred user's existing rewards or fee rates. Attribution is set when a new account registers through a referral link; an existing account cannot be linked retroactively. A 0.5% claim fee also applies when referral proceeds are claimed to the main wallet, and the platform states that specific rates and campaign rules may be adjusted.

Question 5

Can the 20% spot trading-fee discount for paying with LF currently be used, and how can it be confirmed?

Accepted Answer

Based on the currently public pages alone, the claim that paying spot fees with LF provides a 20% discount cannot be treated as a feature that is definitively live. The LF Token page expressly labels the discount as “planned” and not yet available; however, the Spot Trading Fees page simultaneously states that it can be enabled in settings and lists rules under which the maker fee falls from 0.20% to 0.16% and the taker fee from 0.30% to 0.24%. The two official descriptions conflict on the feature's status. Therefore, before placing an order, users should rely on whether the option exists in their account settings and on the fee rate and fee asset shown by the order form before confirmation. Even if the feature described on the fees page is visible, LF must be in the trading balance rather than the wallet balance; if the balance is insufficient, that trade should be completed at the standard fee rate. Before it can be verified in the account interface, it should not be used to estimate trading costs or treated as an existing LF entitlement.

Question 6

How is LF represented on Ethereum and Solana, and why cannot a deposit network directly determine a withdrawal network?

Accepted Answer

LF is an ERC-20 token on Ethereum and a bridged representation on Solana; platform materials state that these two representations are credited to the same LF balance in an account. This only describes how the platform accounts for LF and does not mean that a network available for deposits is necessarily also available for withdrawals. According to the current availability listed on the official “Supported networks and assets” help page, LF can be deposited through Ethereum and Solana, but Ethereum is the only listed withdrawal network for LF on that page. Therefore, depositing LF through Solana does not mean that LF can be withdrawn to a Solana address. At the same time, the LF Token page describes withdrawals differently, stating that withdrawals are available on both networks; the two official pages conflict. When initiating an operation, the final confirmation should be the LF-and-destination-network combination actually shown in the network selector within the account, because the help page also states that the selector is the authoritative list and the page table may lag behind the app. The receiving address must also match the selected network.

Question 7

What is the difference between Season 1 Balance and an ordinary LF balance?

Accepted Answer

Season 1 Balance is not an ordinary LF wallet balance that users can freely control. It is a separately displayed balance obtained through in-app activities such as tasks and daily claims during Lovely Legends Season 1. This balance is reserved for future Launchpad/ILO use and currently cannot be used for spot trading, staking, transfers, or withdrawals. The official explanation states that whether future activities can use Season 1 or Season 2 balances, which users qualify, and how allocations work will be announced separately for each activity. Until the relevant activity goes live and rules are published, it cannot be treated as LF that can be sold or transferred.

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