GFC Update #16
Over the past week the team worked hard to push out a number of updates including:
- Acquired NFT Worlds land
- Airdropped the first unlock for the accumulated $GCOIN
- Released weapons forging
- Released $GCOIN staking
- Listed $GCOIN on MEXC
- Pushed out v0.4.3 which is the 13th game build we have released so far
In the following update we will go into each of these features and also discuss what you can expect as we further update and refine these features.
Business Development and Marketing
NFT Worlds Land
This week we acquired a piece of land in NFT Worlds! NFT Worlds is 10,000 different virtual worlds that lives on the Ethereum blockchain, the piece of land we purchased will be further developed to resemble Bruna 8, the home world to Galaxy Fight Club tournaments.
The idea is that every Gen 2 will come with a VX model that will be Metaverse ready and you can bring into our NFT Worlds land or into the SANDBOX, just to note this world is separate from our own GFC Universe but there will still be activities you can do in this world such as treasure hunts and such.
If you have any ideas of what you want to see in Bruna 8 please reach out to Smilinglion, we already had one member of the community reach out mentioning he might want to see a GFC Pub in there which we thought was an amazing idea.
The current world we acquire is not the final form as we will further develop upon it after gathering feedback from the community but you can already go take a look at this world by clicking into the link here
Forging
We finally released our forging function this week as well, forging allow you to combine lower tiers of weapons into stronger and more rare weapons, as you progress through the tiers you will find yourself forging new weapons that are completely new.
To forge you can visit https://forge.galaxyfightclub.com/ with instructions in the article below.
Note that the 200 $GCOIN fee for forging will be discounted 50% to 100 $GCOIN only for the first week (until 27th of January). The forging process once the transaction has been initiated can take up to a few minutes as Chainlink VRF ensures on-chain provably fair outcomes, so please be patient in-between transactions while waiting.
Also remember that you can only forge weapons from the same tier and the same type (e.g. ranged and melee) together, it seems a lot of people are running into errors because they are not following this rule.
Staking
The next feature we pushed out this week is the $GCOIN staking feature, we initially planned to release this in Q2 but decided to push it forward and have it released now.
For those unfamiliar, staking is basically a way for you to deposit the $GCOIN you currently hold into a contract and earn an interest in return, a bit like depositing your money into a bank and earning interest from it. The drawback is that of course you cannot sell your $GCOIN while it is deposited into the contract, you must first remove it from the deposit and then you will be able to sell it.
If you are interested in staking there are two options, you can either stake your $GCOIN in either a single-sided staking pool which means you just deposit $GCOIN into our contract; the second option is to deposit a GCOIN/WETH pair in our liquidity pool on Sushiswap, this means you have to deposit both $GCOIN and $WETH in equal amounts. For example if you want to deposit $10 USD worth, you must deposit $5 USD worth of $GCOIN and also $5 USD of $WETH.
The difference between the two pool of course comes down to the capital you have, if you already have some WETH lying around not being productive assets then it might make sense to deposit it into the liquidity pool. The APR (annual percentage rate) for this liquidity pool is between 375% to 752% at the moment, which means if you put in $10 USD today, you will get back between $47 to $85 USD depending on how long you lock it up for, the longer the lock up and higher the APR. The APR for the single-side staking is at 101–202% at the moment, which means you will double or triple your $GCOIN after a year.
Note that the rewards are locked up for 1 year from the date you claim them, you could claim them daily from the time you deposit or stake your $GCOIN, a more reasonable plan might just to claim them once every 2 weeks or 1 month if you want to use your rewards as soon as possible.
As of posting, we have close to 30% of the circulating supply already locked with a total value of over $2M and for an average lock time of over 100 days or over 3 months, this is quite impressive and we feel great knowing that so many in the community believes in the long term vision of the project.
As we open up our staking pools and begin the rewards, it is important for us to ensure that our staking pools are safe and secure. Our staking contract is has been audited by Quantstamp and other individual senior developers.
Listing on MEXC
Getting listed on other CEXs was one of our marketing focus this month and we just got listed on another centralised exchange with MEXC in a GCOIN/USDT pairing yesterday you can trade it with the ticket symbol $GOIN or with this link below.
What’s Next?
In terms of our roadmap, we are still working on 2 of them which is the rentals platform and whitepaper 2.0, both of these are very close to release.
There are also a few outstanding items, namely the Gen 2 training mechanism, the launch of a new website and Open Beta in Q1. Some of these are closer to release than others but all of these will be released in Q1 and it’s our key focus, especially releasing Open Beta because it will be important for us people outside our immediate community want to be able to see and actually test what we are building instead of just hearing it from others.
Building the new website is a high priority for us as well, we touched on this in the last AMA because we really want to improve the end-to-end customer journey and one of the first customer touchpoint is the website. We want to make sure the website looks super awesome so we can give off a first great impression.
As part of improving the customer journey we are also looking for an experienced video creator, especially a YouTube native video creator to help create several explanatory videos about our project. This doesn’t have to be super professional but it should be well-polished and concise so people who are learning about our project for the first time and understand it quickly by watching a 10-minute video instead of reading through the entire whitepaper. If you think you could do this for us, please reach out (DM me! [Ado#1941]) we will make sure to compensate you fairly!
In terms of our marketing focus for January, you can expect the VC announcements to come before the end of the month. As for the listing of $GCOIN on new CEXs, obviously we got listed on MEXC yesterday but there are other CEX listings we might announce soon but this will depend on the macro market, it simply does not make sense to list on a new exchange if the market stays in it’s current state. You can also expect us to introduce some of the advisors we have already onboarded following these announcements.
Game Development
Game
Our team have pushed out 13 official builds and even more internally since our journey started, more recently we are pushing out a new build about once a week and every build is a significant improvement from the last. We are still working on a number of features such as reward system integration, consumables as well as spectator function before we are ready to release Open Beta.
We released build v0.4.3 yesterday with the following updates:
- Added Bored Apes as playable characters, owners of Bored apes will be able to now play with their apes
- Added a number of new weapons: Nunchucks, whip, cube, magnet, slingshot, asteroids…
- Updated UI and added new filters to better show hero/weapon NFT assets
- We added static dummies into the training map for users to test out their characters and practice, we will probably add intelligent AI bots in the future so players can use this mode to practice
- Fixed a number of bugs: team divide bug, spawn position bug, join game character info bug and others
$GCOIN Airdrop and Claiming
The first ⅓ of the accumulated GCOIN were unlocked and airdropped to all Fighter holders on the 20th. If you are unable to see your GCOIN in your metamask, go to the #links channel on our discord server, there are links to Coingecko and CoinMarketCap which have a button available to add GCOIN as a custom token to your metamask wallet.
Another thing I wanted to touch upon is the update on the dashboard, especially the claimable GCOIN amount. I have gotten a lot of feedback about it today and many of you seem to be confused about the amount displayed there currently. I would like to talk about the update and what it means. Previously the “claimable GCOIN” shows the full amount of the accumulated GCOIN since 27th of September, we have updated the amount to show the actual claimable amount which is the amount you have generated since 20th of Jan and are able to claim whatever you want. Another ⅓ of the accumulated GCOIN will be unlocked on the 20th of Feb and added to the claimable GCOIN. The rest will be unlocked on the 20th of March.
The team and myself are working on a better way to visualise the locked amount and the claimable amount, after that it will be much easier to tell what you have locked or claimable.
Forging
So Ado already mentioned most of the updates for forging but one thing I would like to add is that for those who have already forged an asteroid or multiple asteroids, I would recommend holding those in your wallet, as we are planning to do something special with those.
Another update here is to allow OG Gloves and crossbow for forging. For those of you who are holding OG weapons which are currently on ETH, we will be announcing a time for a snapshot. After the snapshot, I will be airdropping OG weapons on Polygon to the holders according to that snapshot, and deactivating the OG weapons on ETH. OG weapons on Polygon will be able to be used in forging as well, and as mentioned before using an OG weapon in forging gives a chance for the forged weapon to skip a tier.
Training
The team and myself are building towards Gen 2 training already. You guys can expect the experience to be similar to loot box opening and weapon forging. The website will be on a subdomain, users will be able to choose a Gen 1 fighter, 4 weapons to train with. The Training session will take a few days, and after a few days you will be able to see the Gen 2 complete their training and reveal themselves.
AMA
Q: How does the rewards vesting period work for staked tokens?
When you deposit $GCOIN for staking you will get rewards based on the APR, the rewards you can claim anytime as it is generated per block which is around every 2 second, so technically you could claim your rewards every 2 seconds. The rewards are then locked-up for 12 months once you initiate claim, so the earlier you claim, the earlier you will receive your rewards. Obviously claiming every block or even everyday is too much so we recommend once every 2 weeks or even once 1 month would probably be a reasonable timeframe for claiming.
Q: Has the daily claim feature on the website began already?
Yes, you can already claim your daily accumulated GCOIN on our dashboard.
