Project Updates — Q1
Q1’s main focus was on STONKPT and OG STONKS. We will discuss each of them in detail below.
- As of 17th April, 2022, each week about 74k tokens are mined each week. At current STONKPT price (0.01 WAX), it is 740 WAX worth of inflation each week.
- Our CPU Rental services contribute about ~1300 WAX per week, and other revenue streams contribute about ~80 WAX per week. In total, there is 1380 WAX worth of deflation per week or net deflation of 640 WAX per week (186% deflation).
- Around 2.5M tokens have been mined so far, of which 2M is locked in different forms such as staking, liquidity pools, and other areas. Of the 2M locked tokens, 1.2M tokens are owned by protocol, ie, tokens that have been either bought back which will remain locked forever in different forms.
- We have 17097 WAX worth of undeployed income accumulated from CPU Rental which is exclusively reserved for building liquidity for STONKPT/WAX pair and buying back STONKPT tokens.
- We have decided that STONKPT tokens will have a max supply of 12M. While this has no impact in short term (0–1 yrs), it will help us maximize value for the token in the long term.
- Further, mining rates will be readjusted at the following points — 7M tokens mined 9.5M tokens mined, 11M tokens mined.
- Our of 12M tokens, 2.5M have already been mined. 8.5M tokens yet to be mined, 600k reserved for liquidity incentives, 200k reserved for other incentives, and 200k reserved for NFT Stonkers team to be released over the next 2 years.
- No new NFTs released will have STONKPT mining incentives, however, we may from time to time add bonus mining incentives to existing NFTs to support them.
OG Stonks mines both STONKPT and WAX weekly. While we have highly successful at curbing the STONKPT inflation, we still are working hard to balance the weekly WAX earnings vs payouts.
- As of 17th April, 2022, each week about 2700 WAX (excluding STONKPT incentives) is distributed.
- Our CPU Rental services contribute about ~1400 WAX per week, and other revenue streams contribute about ~800 WAX per week. In total, there is 2200 WAX worth of deflation per week or net inflation of 800 WAX per week (19% inflation).
- Our goal is to reach a sustainable net deflation point. While we are actively playing promising games, most games don’t sustain over long periods. We are pivoting our main focus to building revenue generating tools over time.
- While this measure will help us build value over long term, in short term, we still need to cut the emissions further as described in next point.
- WAX Emissions would be reduced by another 30% to control inflation further.
- However, for newest series of OG stonks - Common, Uncommon and Rare stonks will have a boost of 6 STONKPT/week each.