Update #80: Writing Expedition ✍️||Crypto/Technology
The introduction of gaming in the crypto industry has aroused more interest for crypto with its attendant growth. There is now strong competition among developers in the industry that are seen in their various campaigns. They come with high promises of financial rewards for those who strongly participated in their various activities. With this promises, expectations rises to the roof as participants in the project works hard to meet up with the various requirements or criteria set in order to qualify for the rewards. But a question of if these promises would be kept, almost seem impossible.
From the second half this year, we have seen a high proliferation of crypto gaming projects being developed. Many of them has been launched, others would likely launch in October, November and then December this year.
Learning from past experiences, there is now tension among the game players. The fear is, after putting in much effort in the project, would the rewards promised be kept? if the promises would kept, at what percentage would the rewards be given? If the rewards percentage is defined, would the token generated give real dollar value enough to compensate at least 60% of the efforts put in the project by the community? These questions would enable us to question further, the tokenomics adopted by the various developers of the projects.
Tokenomics has to do with the analysis of how tokens would be shared or allocated among the participants in a project. It looks at variables such as method of token burning, quantity to be supplied and diluted, distribution, utility and vesting. These measures are to control the demand and supply of the token. Having put all the necessary variables in place, I ask another question, why would the price of tokens go up immediately after getting listed and then suddenly, it goes down just to be dumped on investors who put numerous efforts to see the growth of the project?
To qualify for the rewards or airdrop, the project creators lists a number criteria or tasks which the project community members must fulfill. Some the criteria or tasks include:
The number of friends invited to the project
Earnings, mining or coins per hour
In-game cards, videos played or watched
Transaction conducted
Donations made etc. All these are taken into consideration before actual token distribution.
Majority of the people meets at least 50% of these criteria but hamsters and rockyrabbit failed to recognize the efforts their community and reward appropriately.
Hamsters Tokenomics after listing:
Token Generated = 100 Billion
Community = 75 Billion
Initial Token for distribution = 60 Billion
Actual Token(airdrop) distributed = 53.25 billion.
Next token(airdrop) distribution = 6.75 billion
Listing price: 0.00100 (Bybit Exchange) unfair.
Eligible Or qualified users = 131 Million
Non eligible = 2.3 million
[Source] cointelegraph
If after making all efforts and meeting up at least 50% of the eligible criteria, hamsters decided to list at 0.00100, this is unfair treatment to the community in the highest magnitude.
0.00100 is worthless compared to the efforts put in by the community members in the project. This appalling and a disappointment to the crypto gaming enthusiasts.