1/n Let's talk about a roadmap for
@AxieInfinity
recovery. Clearly the current economic issues are challenging + will not be fixed overnight. These problems should have been addressed earlier for sure. But that is the past. I believe the economy is still fixable. A long thread:
Scholarships in
@AxieInfinity
turned 1 year old yesterday! It's amazing how far we've come in such a short time. I vividly remember setting up the first accounts & wondering if there was anyone crazy enough to take me up on my little experiment. Turns out there were millions. 1/8
Welcome home, lost friend. $BUGS has been claimed from
@NIFTEX
and has a new home... in my wallet! I've always wanted a rare-class
@AxieInfinity
mystic, and I am thrilled I was able to complete this buyout!
1/n Let's talk about
@AxieInfinity
land, today's land update, why it was received poorly, a way forward for those who want one, and putting meat on the bones of a proposal to emit $AXS for land-owners. As always, a long thread. Let's dive in.
1/ Thanks to everyone that tuned into our land development stream today.
We’ve received and reviewed tons of early feedback on the presentation. Your voices have been heard.
6/n Step 1: Cut PVE & Daily Quest earnings to 0. This will immediately reduce the daily minted supply, and is a drastic solution fit for a difficult time. Many players will leave -- this is OK -- skilled players and people who enjoy the game will stick around + earn more.
Successfully made it to 2k in a day in
@AxieInfinity
with my triple aquas in
@Khairru_Axiegg
's budget challenge! Didn't quite beat
@Indes_Axiegg
winrate (his 73%, mine 70%), but this felt like a real achievement with 3x aquas while facing tons of pure aquas. 0.152 for the team!
26/n Finally, to those who say everything is fine or suggest blind faith: You're wrong. Things are not fine, and pretending they are does not help. Yes, the market is down, that does not matter. Axie would be here either way if things continued as they are. So let's fix it.
9/n Step 2: Remove the 800 MMR earning cap. Bots primarily farm in adventure, and on average have no better than 50% winrate if PVPing other bots and clicking randomly. At low MMR, this means at most a small amount of SLP anyway. Players should be able to win+earn with any axie.
Seeing
@PacmanBlur
hand out gold like candy to people who did nothing more than buy a memecoin when people have been burning ETH farming scammy DApps for months makes me throw up in my mouth a little.
In addition to whatever bidding I may be doing, I am also running a fundraiser within my scholarship to help contribute to recovery from Typhoon Odette (kickstarted with 150k SLP). We will be donating the proceeds tomorrow!
On today's episode of "How low can you go" in the
@AxieInfinity
budget challenge, my 0.1 ETH team hit 2k MMR. This team was hilarious to play, and beating termis mostly involved 'torturing' them with heals and squeaking out a win. Highlights in thread.
7/n Step 1 cont.: This will be a shock to the system, and players who are not aligned with this direction will be angry, but not everyone can be pleased. Those who stick around will be rewarded with higher asset prices and a healthier economy over time.
4/n Where does all this SLP come from? Almost 75% comes from PVE (adventure) and the Daily Quest, while 25% comes from PVP gameplay. Put another way, 75% of all SLP minted does not require interacting with another human. This is problematic, and a major source of the oversupply.
The first
@AxieInfinity
Wavy plant Axie was hiding in one of our final eggs, a lucky hit on a 3-part w/3-part instead of the hundreds of misses we had on better pairs!
Another
@AxieInfinity
budget challenge in the books for me, this time with a 0.131 ETH team in ~6-7 hours or so -- 0.001 cheaper than
@Indes_Axiegg
's team too! 70% winrate again, since I lost some games doing dumb things.
23/n Axie can no longer be a source of Universal Basic Income for all. It is a mistaken assumption/framework I believe both the team and I have used in the past. Axie's new era must be skill-driven. It must also work to attract players who will spend in-game in the future.
Thanks to the
@KarafuruNFT
team for this lovely honorary featuring two of my favorite NFTs I've ever minted. Picked up a couple tonight during the fire-sale.
I am opening up my scholarship for new applications, with a focus on PVP players. If you are interested, please apply here and follow the directions in the application:
Just sent off this ~$12,500 donation to
@YGGPilipinas
on behalf of my entire
@AxieInfinity
scholarship -- hoping all PH-Lunacians are safe, and I know YGG will put these funds to good use in helping provide aid to communities as they recover from the typhoon.
10/n Step 3: Rework the energy system. The current energy system heavily favors multi-accounting and scholarships. Instead, give every Axie utility by awarding 5 energy per Axie per day. Since energy in PVP is the only way to earn SLP, this leads to ~55m energy/day maximum.
25/n The Axie economy is not permanently dead, but it is certainly wounded. The longer it takes for these changes to happen, the longer recovery will take, but I don't expect the team to give up and let the game die. I hope to see changes in the upcoming weeks which will help.
27/n Small addition: I believe
@maxbrand99
was the original person who suggested AXS rewards, and his data is also used for my stats on % from PVE/PVP. Missed the tag/credit earlier :)
2/n Let's start with the most important & glaring problem: There is roughly a 3:1 mint:burn ratio of $SLP which has been the case for several months, leading to oversupply of $SLP. Loss of faith & lack of growth has led to stagnation that even breeding changes can no longer fix.
jesus jumping fuck i just bred 458
@AxieInfinity
eggs, including 77 chances to hit a 6x in 5 days...
someone please send thoughts and prayers for my wallet and my clicking hand...
15/n Step 4 cont.: We can now jump-start the economy through a breeding event with limited-time collectible skins. The catch? In addition to requiring AXS and SLP, breeding Axies for this event requires 'Mutant Axie Serum' which can only be gotten by burning an Axie.
Web3+Play & Earn gaming shouldn't give a fuck whether you're 13 or 75: All should be welcome, and all should have a chance to contribute to, learn about, or earn from the space. Scholarships & 'asset rentals' are not employment, and replicating shitty IRL policies is regressive.
3/n Many solutions to this problem have been proposed in isolation, but each is a small band-aid on a wound that demands a tourniquet. If this bleeding out continues, it is not hard to imagine where Axie is headed. So it cannot continue.
@AxieInfinity
market cycles are surprisingly untethered from the broader crypto and NFT markets. 'Yield' from scholarships is steady and reliable, the Ronin marketplace is on fire, and land/collectible axies are moving along nicely. It feels good to be free.
Save the date: My final hatchathon will be September 1st at 8pm Eastern. Over 600 eggs, of which 182 are 6x6. During the stream on Sept 1 I will be giving away a couple wavy Axies, a shiny, and a few other summer Axies to celebrate as well.
12/n Step 3 cont.: This gives real utility to each marginal Axie, and encourages casual players to hoard. It also encourages scholarship managers to reward their best players. It encourages people to purchase Axies to increase their earnings, and rewards skill-based gameplay.
My Japanese
@AxieInfinity
collection is starting to take shape -- Exciting to discover some of my breeding accidents are now super collectible gems, including 9 4x Japanese beauties! Named 'em all tonight.
13/n Step 3 cont.: With these changes, we have now cut SLP emission drastically, shifted earnings to skilled gameplay, and reduced SLP emission to scale with the number of Axies in the economy. Long-term, SLP emissions should scale with the burn rate, I believe.
Yesterday a scholar of mine bought a fridge for their family. The day before, one bought an oxygen tank for his parents recovering from COVID. The day before that, a baptism was paid via a scholar's $SLP earnings, and the day before that, school tuition. These stories matter too.
A bit more color on my views about the terrible misstep
@SkyMavisHQ
and
@AxieInfinity
are making:
- Land staking is and has been a way for land owners to slowly gain value and ownership in Axie over time
- The fact that many land staking rewards are sold stems from the fact
Asking the
@AxieInfinity
community to please stand up to the core team about these land reward changes and help them see that they are running the game into the ground if they follow thru with it.
I have been dealing with some health issues that make me unable to deal with
***Support Community-Run Validators***
First things first, I have lowered my
@Ronin_Network
commission rate to 5% to be in line with other community-run validators.
Secondly and more importantly, TheRonin .Tech, InfiniteNode, and Ronin Catalyst are run by Sky Mavis employees
19/n Long-term, SLP issuance can reward players from a fixed daily pool based on average burn rates over the previous two weeks. Rather than earning SLP directly, players earn 'Points' and the daily pool of SLP is split proportionally across all 'Points'-earners that day.
11/n Step 3 cont.: Realistically, probably only ~25-30m of energy/day will be used. Considering each game has a winner and loser, this is now 12.5-15m energy worth of wins/day, where a win yields ~4-5 SLP on average. This means SLP production is 50-60m/day, maybe lower.
8/n Step 1 cont.: This change will make 40-50% of the Axie population which is not well-suited for PVP (chop-suey Axies, as they are known) lag in value, as their current utility is primarily farming adventure. We address this problem with the next steps.
5/n There is also a glut of 30 Billion SLP, even if we halted production entirely today. We will burn through this gradually once the mint rate is less than the burn rate. Turning the economy around is a multi-step process, and requires using these solutions in tandem:
I had my wallet maliciously included in at least one of the
@LayerZero_Labs
third-party Sybil reports. I'm sure it won't be the last, despite being the furthest possible thing from a Sybil user (10k+ Stargate LP for 1 year+, years of onchain history including thousands of non-L0
Bro just mass reported ens of
@underground
members in a
@LayerZero_Labs
sybil cause he knows if he somehow bypasses this, he's cooking 👨🍳
Reasons?
1. Large transfers in/out = same entity
2. All had a L0 txs
Very thorough analysis, should publish a paper or something.
18/n Please note that this is still a temporary solution -- long term, the economy must be balanced using more reflexive mechanisms that adjust minting and inflation rates to match growth and burning rates. This should happen with Origin and beyond.
16/n At this point, we have now balanced mint/burn ratio and stopped the bleeding, we have added some utility for all Axies, and we have created a catalyst to reverse the death spiral, and instead have burn rates > mint rates.
24/n These big-spenders will be essential for Axie. Most F2P games are supported by a small number of whales/big spenders, and I believe Axie's play-and-earn economy will be similar. Attracting these players is for another thread, probably tomorrow :)
22/n The above can also be supplemented by dipping into the P2E allocation for $AXS to reward top performers partially in $AXS instead, further reducing SLP mint while giving skilled players meaningful ownership of the game (credit to
@JDHyper
on this!)
17/n This creates demand for Axies and SLP too, as players buy Axies from the market once the economy is balanced and faith is restored. Skilled players now earn more and are incentivized to hold Axies. Over time, the excess 30B SLP is burned as burn > mint.
21/n Solutions I see often discussed barely make a dent in the problem or don't solve it at all (e.g. buybacks, burn-for-emojis, gambling, pricing in SLP). They are especially ineffective when the firehose is still on. Every day 150-200m in excess SLP is minted, ~$1.5-2 million!
20/n But even before Origin, the steps I discussed here should be taken to set up the new release for success. Launching in the current environment would lead to substantial baggage and dead-weight to shed before Origin could shine.
Happy to share that together with
@maxbrand99
, we will be running a validator node for
@Ronin_Network
. I'll be adding an additional $RON stake to the node in the coming days, and would appreciate any delegators who join us to help ensure we can take a top-10 spot!
Asking the
@AxieInfinity
community to please stand up to the core team about these land reward changes and help them see that they are running the game into the ground if they follow thru with it.
I have been dealing with some health issues that make me unable to deal with
It's my hope in the year to come that scholarships continue to grow, that we do not lose sight of the model's origins and intentions, and that the model continues to improve & evolve over time, just as I am sure
@AxieInfinity
will. 8/8
Let's talk about the buzzword of the day: "Free-to-own"
In the context of
@gabrielleydon
and
@DigiDaigaku
this is the idea of an NFT collection that's free to mint and generates future NFTs by owning the 'Genesis' NFT over time. This needs context within NFTs & gaming.
1/many👇
Did you or your
@AxieInfinity
-focused guild raise too much money? Are you still going to be homeless in the Metaverse? Consider picking up this 39-plot arctic estate I just listed for 600 ETH: The largest estate on the market in a killer location.
14/n Step 4: At this point, we have a stagnant economy that is no longer bleeding out millions a day in oversupply. But not a healthy one. Some Axies' value will still be lower, as not every Axie will have found utility and there is a limit to # of energy usable per day.
This is the first piece of really good news to come out of
@AxieInfinity
in awhile, and I have to admit -- I missed it. Looking forward to seeing this ASAP and getting everyone up to speed on the first Metaverse land *with* earning utility. PS. This also helps w/ governance :)
Happy 1st Birthday
@CyberKongz
! What started as a fun pixel-art PFP experiment of 1000 OS-Storefront JPEGs for 0.01 has matured into a thriving ecosystem of VX+Baby+Gens & community of many of the smartest+ kindest people pushing the boundaries of NFTs. Here's to many more!
thanks for the mute
@Psycheout86
glad you hate your
@AxieInfinity
users so much that when they beg for better wallet security and not to get screwed by your greed, you retaliate with a timeout
The only thing that will truly fix this is having enough
@AxieInfinity
for 1B+ people. One of the reasons exploitative programs exist is simply because honest and legitimate programs like mine and
@gabusch
's cannot keep up w/demand, and too many people desperately want accounts.
And to be clear, yes, we fucking care. We care that 200,000+ people are empowered to safely earn a respectable income playing
@AxieInfinity
from anywhere, we care that bad actors are removed and put out of business, and we care about creating a positive and impactful community.
Friendly reminder than the $AXS unlock contains no 'Investor' portion (they are fully vested), only 'staking rewards'. Even the next unlock in 3 months has no investors, only advisors &
@SkyMavisHQ
who has yet to sell/circulate any of their $AXS or $RON.
I came, I Klawed, I conquered...
#OOH
!
Look at the NFT I won from
#TheKlaw
,
@cyberkongz
newest experience in Play & Kollect! -->
Pretty awesome first Klaw run!
If you have a valid & well-researched Sybil report but do not have 0.5 ETH to bond, I may be willing to perform the bond for you in exchange for a portion of the resulting reward. Please reach out at sybilbounty
@gmail
.com if so. I will not open attachments, plaintext please.
Sybil bounty submissions are re-opening shortly under a new process on Commonwealth that will require a bond.
Submission Criteria
We are implementing a bonding mechanism into sybil bounty reporting, which means only addresses that post a bond are eligible to submit a report on
We hatched the first
@AxieInfinity
Wavy Dawn on stream tonight! Love the golden color, easily my favorite. Thanks everyone for coming to hang out, will do it again for my next hatching session in a few days once I get these ones bred out!
Happy to see the first open NFT mint on
@Ronin_Network
went well. There is clearly demand on the Ronin side (beyond the good mint UI/UX) that should encourage projects to consider RON over Polygon/others. The 0xak validator even validated a few mint blocks!
Let the fun begin! My final hatchathon starts now: I'll be scattering ~10
@AxieInfinity
giveaways throughout the stream, as well as hatching over 600 summer eggs. Come hang out!
why on earth am I trying to guess the results of a roulette wheel for insane amounts of gold instead of being rewarded for actually putting in time, effort, and capital toward projects that have a chance to survive post-farming period?
terrible, broken incentive mechanism