THGaming Has Officially Entered Phase 2
As we transition into Phase 2 and ramp up our token distribution mechanisms, $THGAMING price volatility is likely to occur. We believe that our Whitepaper portrays a sustainable long term growth model ; and as always our central focus is to create use-cases for the token and increase earning opportunities for token holders.
The THGaming Whitepaper
We strongly encourage all potential investors and $THGAMING token holders to thoroughly review the '$THGAMING WHITEPAPER V1.0 ' released today.
This post will contain a number of 'Whitepaper highlights' to help explain some of the technical aspects of what you will read, but it is no way a substitute for the Whitepaper itself.
Tokenomics
The transition from Phase 1 to Phase 2 will involve an increase in $THGAMING's supply from ~12,000,000 to ~165,5000,000 over the next three years. This will seem massive compared to our current supply, but it equates to an average of ~5% of the total supply being minted per year. That's without applying the token burning/sink mechanisms we're developing behind the scenes.
Our distribution methods are being expanded to provide greater curation rewards and a refreshed liquidity pool. Eventually, $THGAMING will also be distributed through token airdrop/mining NFTs and prize pools from regularly hosted gaming events. We want to create a highly liquid environment for our token before we start piling on the use cases.
Speaking of, the first use cases we're moving towards are entry fees for Guild events (i.e. tournaments, raffles, auctions), purchasing certain THGaming NFTs, and spending $THGAMING in partnered projects. There will never be a "good enough" when it comes use cases, as we aim to regularly introduce more as new opportunities present themselves.
Relationships
THGaming has been fortunate enough to enjoy relationships with $PIMP, The Alliance, Psyber-X, and the 1UP Cartel, but we don't plan on stopping there. We're looking to support other Hive communities that wish to curate $THGAMING or add it to their dividend tokens, and we're actively discussing ways to build bridges between the Guild and other similarly-minded Hive communities.
Questions?
Since we expect there to be many investors, and gamers, seeking further clarification or information on the contents of our whitepaper, we encourage you to join the official THGaming Discord. Both @jim-crypto and @entrepidus will be answering any immediate questions you might have, over the next several days.
Day 1 (June 1st 2022) Expectations
In the interest of continued transparency, the following will occur immediately following this announcement:
Increased Curation Rewards
The previous drip rate is being increased to >4.2x its original value. We plan on further increasing this rate each year until we enter Phase 3 depending on how quickly the community grows. We'll monitor curation payouts relative to market price action, and we're prepared to make adjustments, if necessary.
One option we decided against—for now—is the ability to automatically stake half of all curation rewards rather than providing 100% liquid $THGAMING. This would mean that the liquid $THGAMING being distributed would only be doubled despite quadrupling curation rewards.
To go along with this, most of our delegations from @thgaming are being removed or downsized to prepare for the launch of our in-house Curation Program. Those interested in becoming a THGaming Curator should reach out in our Discord for additional information.
Liquidity Pool Rewards Refresh
We're renewing the $HIVE:$THGAMING Rewards Pool with 333,333 $THGAMING each month for another 90 days. Other Hive tokens will be added to the pool, but we'll announce them as the details are finalized with our current/future partners. While it's possible that liquidity providers will again enjoy 300%+ APR, we've reduced our target APR to a floor of 150%. This means we'll do our best to maintain 150% APR, and anything in excess of that is a welcomed bonus.
$THGAMING Minting / Staking
4,808,331 $THGAMING will be minted/staked for the month of June and allocated as follows:
Liquidity Pools
- 333,333 deposited into the $HIVE:$THGAMING Liquidity Rewards Pool
Gaming Events
- 1,000,000 staked to @thgaming to start an event Prize Pool
Staff Compensation
- 625,000 staked to @jim-crypto (in place of June compensation)
- 166,666 minted to @entrepidus (Operations Manager, 100,000 will be staked)
- 41,666 minted to @thgaming for Art/Design budget
- 41,666 minted to @thgaming for Programming budget
- 500,000 staked to @thgaming to start a Curator Delegation Pool
Guild Treasury
- 1,100,000 minted to @thgaming to complete various private sales.
Marketing
- 1,000,000 staked to @thgaming to start a Marketing Fund
Going forward, THGaming will release a "State of the Guild" accounting update on the 1st of each month detailing the Guild's ongoing financial situation. Future updates will provide more granular detail than we have room to discuss in this announcement, and we'll make an effort to address questions/concerns raised through our Discord.
The First Month
Looking to the rest of June, the following are specific goals we're working towards:
WAX Airdrop NFT Series
As explained in the whitepaper, our first NFT series will be minted on WAX and used to provide fixed $THGAMING airdrops to their owners. We'll be announcing a sale date for this series by the end of June with more specific details.
Splinterlands Guild Events
Given the Guild's strong pre-existing affiliation with Splinterlands, it should come as no surprise that our first round of events will be focused on Splinterlands. We're hoping to announce dates for at least one tournament, several contests, raffle ticket sales, and a series of auctions. To clarify, this announcement will be for events slated to begin in July or August.
Expanding Partnerships
Now that we've got strict budgets and guidelines in Phase 2, we're already looking to apply them to the formation of new partnerships and strengthening of old ones. While we can't reveal any details at this time, we'll likely be announcing new information each week starting June 6th.
For those interesting in forming a partnership with us, reach out on Discord!
Roadmap Update
Let's take a moment to look back on how far we've come. Thanks to our amazing community, THGaming has continued to beat all expections we've had for $THGAMING!
PHASE 1 COMPLETE
Our initial Roadmap estimated 1-2 Years for completing Phase 1, but we achieved all of the following in just 4 months:
- ✅ Mint initial $THGAMING Supply
- ✅ Unlock $THGAMING Staking
- ✅ Create our first $THGAMING Liquidity Pool(s)
- ✅ Unlock $THGAMING Delegation
- ✅ Partner with other Hive Communities
- ✅ Fund the Tipping/Curation SMT Contract
- ✅ Launch Curation Rewards
- ✅ Whitepaper Release
- ✅ Transition to Phase 2
PHASE 2 BEGINS
The next phase of $THGAMING's development will last for 3 years: June 1st, 2022 - May 31st, 2025
The following summarizes our current goals for this phase:
- Launch THGaming website (~80% complete)
- Establish Hive tribe platform
- Expand $THGAMING liquidity pools
- Mint multiple THGaming NFT series
- Grow investment portfolio (games, NFTs, airdrops, etc.)
- Create stable coin "HODL Bag"
- Develop profitable Guild gaming accounts
- Fund sustainable player scholarships
- Hire Guild support staff
Given the fixed 3-year timeline for achieving these goals, it's entirely possible that things will be completed out of order do to unexpected delays or breakthroughs. Treat this as a glorified "to-do" list rather than a sequential step-by-step plan.
SHORT-TERM GOALS
At the outset of Phase 2, we're currently focused on tackling the following goals:
- Launching the THGaming tribal outpost on Hive
- Releasing our first NFT airdrop series
- Acquiring gaming assets for Guild events
We've spoken a bit about how we intend to spend the first month of Phase 2, but these remain top priorities in the months to come. We want our community to have a place to gather within the Hive ecosystem, and we want to begin releasing NFT series and acquiring Guild assets to support the many events and perks we want to provide to Guild members.
WRAP-UP
As we come to a close, let's talk about about the "weirdness" $THGAMING might experience over the next few weeks. First and foremost, expect volatility. We're introducing a considerable amount of information and liquidity that holders will be reacting to. Some of those reactions will be delayed both due to the 7 day curation payout cycle and the 7 day wait on the first 25% of any destaked tokens.
It's entirely possible that the community reacts positively for a decent bump in valuation before a sudden wave of delayed selling pressure hits the market a week later.
None of this is financial advice, but we want to make sure you understand the various factors that may play out this month. We'll be taking notes and closely monitoring potential weak points in our tokenomics. If we feel like our plan missed something or isn't playing out as intended, we'll keep the community informed and work towards fixing any problem/s that occur, as quickly as possible.
As always, please don't invest more capital than you're prepared to lose, as nobody can predict the future. Crypto can be wild, so we hope everyone is safely buckled in for the ride.
Trade safely, Game hard!
Official Social Media Links
$THGAMING on Tribaldex - - - $THGAMING Whitepaper- - - 3Speak IPFS Video
Post rewards will go towards powering up $HP and funding $THGAMING's ongoing development.