$GODS Staking Dashboard: Launch and Expectations

In October 2023 the Gods Unchained team announced the Launch of the long-awaited dashboard for staking of $GODS. Is this important? Personally, I think so. What expectations might be reasonable? I share with you my perspective on this and the efforts made at the time by the Council of Mortals to gather information and provide feedback to those responsible for the tokenomics of this game.

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Notable milestones of the $GODS token

In order to contextualize all this, it makes sense that we begin by reviewing the Main milestones achieved by $GODS , the fungible token of Gods Unchained, to date. In chronological order:

September 2021

Launch of the White Paper ( White paper ) of $GODS. This white paper lays out the characteristics of the $GODS token, analyzing its purpose, utility, total planned issuance and unlock timeframes, etc.

A public sale on the CoinList exchange of 35 million $GODS, a total of 7% of the total planned issuance.

October 2021

First of all $GODS smashes records on CoinList . The token's sale set a new record in this exchange , with 879,300 registered users ( "$GODS token sale closes setting a new CoinList record" on the game's official blog). Let's remember that this release to the market takes place in full bull market in the crypto market, a scenario in which demand is exponential.

Second, Gods Unchained begins experimenting with the Play & Earn mechanics with the campaign Blessing of the $GODS , generating enormous expectations ( "Play to Earn Event: Blessing of the $GODS" on the game's official blog). Unfortunately, numerous malicious actors took advantage of this event, both by using bots and by resorting to multi-account strategies (creation of multiple user accounts by the same person).

November 2021

After a long hiatus caused by technical reasons, the the Forge finally reopens . The Forge is a crucial element in the game's tokenomics, as it is one of the main utilities of the token, which is required to "merge" several copies of a card to obtain a higher quality version of it. The development of ImmutableX makes it possible for this process to take place on a layer 2 (layer 2 or simply L2) of Ethereum, minimizing the friction posed by the high cost of gas in layer 1.

December 2021

Coinbase announces that $GODS will be able to be traded on its platform . Although at that time it was already present in other exchanges , such as OKEx and FTX, the availability of the token on the second largest cryptocurrency exchange by number of operations on a global scale is an important boost ( "$GODS already available on Coinbase" ).

This month the Gods Unchained team enables the Buying and selling cards in its ecosystem (Immutable X and other marketplaces that use its technology) with $GODS ( "Buy Gods Unchained Cards with GODS, USDC and IMX" in Play to Earn Online). Another step forward to give utility to the token.

March 2022

More utility for the token: Buying Envelopes of cards using $GODS ( "You can now purchased card packs using GODS" on Reddit).

June 2022

The good news continues: "Offering of the $GODS: proto-staking in Gods Unchained" . This campaign incentivizes active Gods Unchained players not to move their L2 tokens , rewarding them based on the number of $GODS they keep in their Immutable X account. Your reward pool from this program is fueled by players' actions, including utilizing the Forge and purchasing expansion packs.

August 2022

It occurs in "formal" launch of the mechanics of Play&Earn of the game, with a shard system that serves to distribute the daily $GODS bag among players according to criteria such as number of wins, winning streaks, rank, and deck quality ( "Daily Play and Earn feature" on the game's official blog).

April 2023

After a long period without news in relation to the game's tokenomics, the promotion "The Forge Reignites" sees the light. This promotion, which serves as a test bench for the mechanics of crafting , is not without controversy, since while it is in force the utility of the token is reduced: "The Forge Reignites: forge like never before until April 28" .

September 2023

This month the Premium and Permanent Game Mode Sealed Spring into action ( Ready for Sealed? ). This is relevant in this context because only $GODS are allowed to pay for their ticket; that is, $GODS gain utility.

October 2023

With minimal delay over the deadline provided for in the roadmap official, which contemplated this milestone for the third quarter of the year ( "Gods Unchained Roadmap for 2023" ), the Control Panel for strike of $GODS via an announcement on the official Gods Unchained Discord server. It has been two years since the launch of the token and more than a year since the launch of the proto-staking … But better late than never, right? This is striking, considering that the control panel of strike of $IMX occurs in September 2022 ( "Immutable X Launches Staking Dashboard" on Play to Earn Online), but this is great news for which the Gods Unchained team and all the fans of this pioneering game deserve to be congratulated.

I don't know if you are among the veterans who have lived through all of the above or not, but I can guarantee you that it has been a fascinating journey. After this retrospective, it is time to Focus on the present and the future .

Importance of $GODS Staking in Gods Unchained Tokenomics

As explained in the previous section, there are different functionalities in the game that give usefulness to the token: buy cards and packs, forge cards, pay the entrance fee for the Sealed game mode and stake (for the time being, as part of Offering of the $GODS). However, it is absolutely essential to clarify something: with the exception of staking, all other use cases are limited to recirculating, in whole or in part, $GODS from the gaming community to the Gods Unchained team. In other words, considering that burning $GODS is not an option due to legal reasons, staking is the only use that serves to keep tokens out of circulation (locked). And this is more important than it might seem at first glance, since, for better or worse, the token plays a determining role in the game's economic ecosystem.

The game economy has always been one of my main areas of interest and that's why I always pay a lot of attention to it (I think it could be considered a game within the game). Was the token launch really necessary? Probably not, although there is an exclusive utility for him: the governance , yet to arrive in the Gods Unchained universe.

What is indisputable is that from the moment it sees the light it goes on to have an enormous transcendence as a Important Functionality Enabler , such as the Forge or the Play&Earn. And that is why I have seen with growing concern the evolution of its price in the market during this period. As we know, it was launched in September 2021 through a public sale, with a price ranging from 0.336 to 0.24 USD. Its price in summer 2023 was around 0.15 USD, as reflected in the following chart (value in USD):

In all honesty, we cannot overlook the fact that at the time of writing these lines we still seem to be beginning to emerge from the bear market , following the intense erosion in value suffered by all altcoins, already hovering around $0.30. At the time, and in the face of the uncertainty of the gaming community, as a member of the Council of Mortals I felt it was my moral duty to delve into all this. I was aware that some players had referred to $GODS sales made periodically by the Gods Unchained team... was this true? If so, why was that? The truth is that the Gods Unchained team confirmed that it avoided keeping $GODS on its balance sheet and therefore opted to convert the $GODS it obtained through the aforementioned channels into cash, with the exception of those reserved to reward the strike . Consequently, I chose to to put the focus of the Council of Mortals on the $GODS , with this matter on the agenda of the meetings held in June and July 2023.

In order to obtain a clearer vision, I proposed Consultations such as those reproduced below (accompanied by the corresponding answers):

1. Considering that Immutable has raised $280 million worth of funding, owns over $478 million worth of $IMX tokens on its own balance sheet, and has never sold any of these tokens (i.e., it is a long-term holder: "Immutable's Foundation "Quietly" Looks to Raise Cash For IMX Tokens: Report" a Blockworks), Why were they getting rid of $GODS? According to Daniel Páez, executive producer of Gods Unchained, these $GODS were sold because maintaining them could be problematic from a fiscal point of view (and, in addition, they served to finance the development of the game).
2. What was the Target price from the perspective of Gods Unchained, considering the short, medium and short term? Daniel Páez clarified that they did not have any target price in mind.
3. ¿ How $GODS's price evolution was affecting Gods Unchained's growth (player retention, etc.) and its economy (card prices – Forge, reward system – staking and daily P&E), etc.? According to Daniel, the effect on the volume of active players was noticeable compared to the period during Blessing of the $GODS, but it was difficult to draw a clear parallel because the number of bots and multi-accounts was negligible today.

With transparency as a flag

Transparency is considered a guiding principle in the crypto world and Immutable, for its part, has always stated that it is a fundamental value in its activity. In addition to addressing the management of the token at Council of Mortals meetings, knowing that the launch of the $GODS staking dashboard was approaching, I also reached out to the Gods Unchained team through the appropriate channels to convey the community's concerns and request a Tokenomics Area Update , since the token was unveiled in 2021 it has not been held again. This update should include, at least:

• Balances on-chain .
• Review of tokens pending imputation.

The Gods Unchained team has Confirmed The following:

• The Unlock Schedule it has been scrupulously respected. Specifically, the Digital Worlds Foundation ($GODS broadcaster) unlocks $GODS every 28 days according to the unlocking schedule. It is possible to keep track of your wallets (DWF – Locked: 0x237343c10705ae7605850977503e25a8c12851e6 DWF – Unlocked: 0x971f723194796dbF04DcFe361ED584CaE9bf94A0).
• Advancing in the governance It is something that is on the table, but there are still aspects to be defined before we can move forward.

Expectations for the $GODS Staking Dashboard and Tokenomics

Naturally, it makes sense to think about the strike as a space in which to find Expected Performance Insights by the user. However, it doesn't have to be limited to that. It also makes sense that it would become a source of information with Key facts about the token (The example I brought to the Gods Unchained team is Echelon, which incorporates information like the following:

By the way, on this specific point of distribution it is essential to point out that Unlocking does not equate to distributing … and clarifying this is especially pertinent when there have been changes in criteria in this regard .

Learn more that I consider that it would be desirable for it to be available to the community:

We are clear about which World Digital Foundation Treasury wallets have locked and unlocked tokens, but the White Paper describes different bags . Aren't those exchanges managed independently (i.e., don't they have dedicated wallets)? If so, would it be possible to know their respective balances and, ideally, movements?

Here are some Relevant Questions (These are just a few examples, not an exhaustive list):

• Community and Ecosystem Fund : What is the amount and distribution of $GODS used for different projects, such as community tournaments, content creators, partnerships, referral rewards, etc.?
• Play and Earn : How many $GODS have been distributed to date in this context?
• Reward Fund for strike : What is your balance and what is the amount of rewards distributed to date?

Conclusions

Without wanting to attribute merits that do not belong to me, Daniel Páez has confirmed on Discord ( fountain )that has changed the Team Perspective about this token. Specifically:

Daniel has also confirmed that they are Exploring options so that we don't have to release all the $GODS that the team receives through different channels (and that are not reserved for specific uses, such as the rewards of strike ). So much so, that the team is having to buy $GODS for some uses ( fountain ):

Considering that the token is here to stay and that its impact on the present and future of the game is significant, I am confident that we will see courageous measures to make it more useful within the framework of a sustainable economy for gaming. For my part, I will continue to pay attention to this matter attention which I think it deserves.

I want to take this opportunity to remind you that you can support GU Masters by purchasing your cards through the TokenTrove referral link (which has no cost for you) and invite you to join all the players who already receive the GU Masters newsletter to stay on top of what's new in the Gods Unchained universe: The Herald .

Images courtesy of Gods Unchained Pty Ltd.