We are super excited to unveil our new ecosystem update and some of the small changes and tweaks we will be making at the start of season 1. Without further ado, let us begin.
Firstly, season 1 will mark some changes to how we onboard gamers into the ecosystem. There will be a focus on liquidity incentives and ecosystem sustainability. Currently, users are required to hold 2200 GXP in order to access many of the services on the platform — there will be no change to this. After having the minimum token requirement, previously users had to use GXP in order to purchase Non-Fungible passes, or NFPs. The price of each NFP would vary depending on the projected game rewards. This system was good, however, it had its flaws. With the help of algorithmic AI programming, we have strategically conducted over 1000+ simulated tests to find the best strategy for our current situation. One that provides gamers with the sustained eligible rewards and one that increases the liquidity within our ecosystem — making it possible for gamers to earn their rewards. This will be done through the way of the liquidity token or LP. Currently, LP’s are used single handly for only decentralized exchange farming or pooling, we want to change that and truly create a game-fi experience. Therefore, starting at the beginning of season 1 we will be adding the following:
- Liquidity Pair (LP) NFP purchases: Users will no longer be able to purchase NFPs with single GXP tokens but will have to use liquidity pairing tokens such as GXP/BNB in order to purchase new NFPs. Using GXP/BNB LP tokens will act as a form of payment and will subsequently relinquish the access of the LP token in exchange for the NFP. NFPs will still be consistently priced around the same price point as if it was only GXP that was used. For example, if an NFP cost $50 or 110K GXP, it would still cost $50 but in the form of an LP token (GXP/BNB Pair). With the addition of XChange users will be able to conveniently pair GXP/BNB on the Game X Change platform ( https://play.gamexchange.app/xchange )
What happens to the current NFP that I have? Do I have to repurchase with a Liquidity token?
- You will not have to purchase a new NFP for any of the connected games. If you chose to buy a new NFP at the start of the season it will be with the GXP/BNB LP pairing. Current NFPs will work and will not have to be altered.
If I use to LP to purchase an NFP, do I still have the LP token?
- No, the LP token is used as the form of payment for the NFP or any items within the platform.
Vault Upgrade System
We will be introducing a new system called Vault Upgrades. Vault Upgrades will allow users who progress to “upgrade” their game vaults in order to unlock higher rewards and earn more tokens per day. In order to unlock more rewards and gain a higher AGY (Annual Gaming Yield) users will have to upgrade their vault every 8–11 days. A maxed upgraded vault has the potential to export over 8x as much as a default vault. *Dependent on game rewards*
How does it work? Currently, and in each season, vaults will have 8 levels that users can upgrade. A basic vault starts at Level 0 with default rewards. Users will have to progress through all 8 levels in order to earn the MAXIMUM amount of reward potential. In order to continue earning rewards, users will have to upgrade their vaults. If they do not upgrade their vault to the next level within the time frame, their vault will be held at the current level and no rewards will be applied until the vault is upgraded. Once the user maximizes their vault to level 8 they will no longer be able to upgrade and are free to earn the maximum rewards for the rest of the season. At the end of the season, each player's vault will be cleaned and reset to vault level 0 in preparation for the next season.
How will I upgrade my vault? Users will be able to use LP tokens in order to upgrade their vaults to the next level. These LP tokens will be in the form of our secondary game currency ( more will be revealed on the secondary token this week).
The reward system ensures that users will be able to use earned rewards in order to upgrade their vaults thus not creating a barrier for continued play.
Introduction of NFT + NFT
We will be introducing NFT + NFT staking. This will allow partnered projects to be creative in their deployment and utility NFTs. Users will soon be able to combine NFTs together in order to receive rewards. Stay tuned for more information.
What can I expect? What will the new system look like?
With the above information let’s run through a very short scenario on what the new system will look like. We will showcase this in a quick high level step-by-step below.
- Purchase Minimum 2200 GXP required
- Check the NFPs available in the marketplace
- Purchase the minimum GXP needed for the desired game
- Pair GXP and BNB , by adding liquidity using XChange
- Once you have recieved GXP/BNB LP tokens , use those tokens to purchase the desired NFP
- Play games, and collect your daily rewards
- Once your vault reaches the maximum amount of exports it must be leveled up. Use your rewards to pair with BNB to acquire additional LP tokens. Use the recommended LP tokens to upgrade the vault to the next level *note, in order to continue earning you must remember to upgrade your vault.
- Once your vault is upgraded this will unlock higher reward payments and additional vault exports. Each subsequent vault upgrade will cost more to upgrade but also allow more daily rewards to be earned.
- Once your vault has reached Maximum level for the season you will be able to export without upgrading for the remainder of the season.
- Check the NFT shop daily for exclusive timed offers, NFTs and redemption items that can be purchased
- At the end of the season your vault level will be reset back to zero and any remaining vault points will be cleaned.
To learn more about upcoming changes and what to expect join our community and join us for a community AMA scheduled for March 25th 2022. Don’t miss out as we will be unveiling plenty of more updates and great things hitting the Game X Change Platform.
About Game X Change
Game X Change is a gaming platform where users can move assets (virtual cash and NFTs) from one platform, game, or blockchain to another, in a safe and controlled way. Play & earn and convert in-game currencies and NFTs from game to game! Game X Change offers rewards for playing, earning, and farming across the platform through its native utility token, $GXP. Through the use of Game X Change’s technology solutions stack, developers are provided with a full suite of tools to innovate and integrate both legacy and blockchain games. Game X Change is the future of game asset exchange.