Latest update from DungeonSwap and Next step towards Play to Earn
Almost 3 days have passed and the DungeonSwap development team think it is a good time to summarize our launching event and to give you some update on what have we done, and what will we do.
Our Vision & the Idea of The Dungeon
Before discussing the future, we would like to flash back to 3 months ago when we launched our website along with our white paper, which stated our vision is “to contribute in building a sustainable, user-centric and entertaining decentralized ecosystem”. Over the previous 3 months, we have been working day and night to achieve the goal. 3 months later, our first product “The Dungeon” is launched as promised.
The Dungeon itself is functioning as it is designed, however we faced challenges from various aspects. One of them is the transparency of the randomization result. In response, we have enhanced the transparency of our random number generator (which we have designed an algorithm to be low-cost and un-hackable, we will write a separate article later to discuss the technology behind). Anyway, this allows users to independently verify our random result on the blockchain themselves.
Another main argument, probably the most decisive one, is about the nature of “The Dungeon” is not really following the spirit of the “Play to Earn” trend. Very true that our design was essentially to make The Dungeon as a token burning machine instead of a Token generating machine. The original purpose of this design is to balance the DND generated in the yield farm vs the DND burnt in the Dungeon, so as to make it a sustainable ecosystem from a long-term perspective and which is why we didn’t adopt the “pure P2E” approach from the beginning. However, apparently this is not what the majority of our investors expected.
Strategic Move: Making it Real “Play to Earn”
In light of the latest development, the development team has been reflecting and discussing intensively. Essentially, we believe that from a Tokenomics point of view, most P2E features available nowadays are not sustainable and they do have a limit of generating those “Play to Earn” Token.
On one hand, we don’t want to give up the “sustainability” that we have promised in our mission statement just for pleasing our investors for some short term benefit; on the other hand, we completely understand the investors’ need of security on their investment and the demand for “Play to earn”.
The good news is, after days of meetings and discussion, the development team have finally come up with an approach to enhance our ecosystem by introducing the P2E features while keeping the whole ecosystem and Tokenomics in a sustainable manner. We hope that we can share with you the detailed approach we will take, however, the market is way too competitive and we cannot afford disclosing too much until we have implemented this change, but we will gradually disclose more details towards our completion.
Can you tell us more and when can we expect the Play to Earn Dungeon to arrive?
The only thing left is to work it out! How long does it take? This is the question concerning most investors. We will target to complete the whole implementation within 1.5 months of time. However in between, we may launch certain new features before the full implementation.
For example, what we can disclose now is that we will launch a new type of NFT equipment called “Relic”. With the Relic, you can enter the dungeon for free (but by a limited time per day, for example). With the relic on your hand in the dungeon, each time when you win a level, your reward will be locked, and so you will never have to worry about losing any reward! What have to do is to try your best and go to deeper level, and thus your reward will be higher. We may also launch pre-sale of those relics for interested users so they can earn sustainable income from holding the relics and playing for long term. Of course, these relics can be traded in the market place for those who might not want to play themselves and would like to cash out the expected future reward generated from the Relic.
Again, we would like to thank you for your continuous support. The development team have always been, and will continue to try our best to build a sustainable, user-centric and entertaining decentralized ecosystem.
DungeonSwap Development Team
4 August 2021
