Holo everyone!
We've got some new small things lined up for the last month of the year of the dragon! To continue with what we did last year, we are re-introducing our Advent Calendar this year for you daily reward claimers - this time however without zing rewards but with Holo Dust instead and of course a new 2024 achievement!
Holo Dust will be one of our main in-game materials, this will be used in many ways but primarily in crafting. Aside from things costing certain unique materials to that particular craft, most of them will require the addition of holo dust to finish the blueprint along with burning some zing in the holoverse. Our plans at this time are that most things in the game will have a "base" holo dust and zing cost, for instance to capture creatures you need a capture device and ammo, with the former at some point needing repairs while the latter needs to be refilled and thus crafted. This means that for every capture attempt there'll be resources spent that have cost dust and zing to create thus every successful capture attempt has some base costs behind them and both the dust and zing gets burned rather than going to one entity.
To prepare our healers for our upcoming game, you will now be able to claim some dust in your daily December claims and stack it up to the total amount in your account. We want to keep this in-game material nontradable in an effort to avoid spam/multi account abuse where someone only has crafting leveled up on one account and farms materials on many others to transfer to it and we will once the game goes live keep an eye on such activity at later stages for higher level crafting items that may have been farmed in ways we may find unfair towards real players.
Aside from getting it from the December event here, in the game players will be able to obtain Holo Dust when defeating Holo creatures and capturing them! The amounts there will depend on how hard the fight was based on the type of creature you used compared to the one you battled and the rarer the captured creature is the more Holo Dust you will obtain!
To get the achievement, a player must claim at least once on every unique day during December and they'll be getting an iteration of the 2023 December achievement of different tiers, which also get them some zing collection rewards over time with a low weight!
Lastly we wanted to discuss some upcoming changes to Zing distribution rewards. Before we step into the suggested changes we wanted to give you the motivation behind them. While HP delegations have been great in making sure we have a weekly income to pay for development of the game, they're in a way quite limited as there's a lot of different projects on Hive making use of them and many preferring to use them for other fun and important things like curation. We believe we've used our voting power quite responsible over the years, during times of less activity most of our votes go towards @hbd.funder as to not overreward contributions in our community/related to our project and when times have called for it like our inktober contest we've been able to reward the big amount of participants properly with all the voting power available.
Based on our average delegations and the average price of Hive the last year+, we can conclude an approximate 250k hive per year has been raised to fund the project, at an average hive price of 30cents that's roughly $75,000. Comparing this to our Alpha Vial sale which has been live for less than a couple months, we've already raised over $20,000. As we're getting closer to opening being available along with Holozing accounts without a hive account linked to them yet and accepting other crypto we expect that amount to maintain and potentially go up. The changes suggested below are in an effort to bring balance to that. We have also noticed that a lot of liquidity has been lost in our zing-swap.hive pool as markets are more volatile lately and will be increasing the rewards there as well to make it possible for bigger trades to occur without affecting the price too greatly as we noticed recently happen. Here are the proposed changes:
HP Delegation Distribution changed from 250k daily to 200k daily.
Zing Staking Distribution changed from 40k daily to 30k daily.
Zing Collection Distribution changed from 90k daily to 200k daily.
Zing Liquidity Distribution changed from 20k daily to 30k daily.
Zing Achievement Distribution changed from 10k daily to 5k daily.
While Zing continues to be inflationary with this change, we want to continue focusing on funding our ambitious project so we can grow the team and pick up the pace in 2025. This means our daily total distribution would change from 410k daily zing to 465k.
Our HP Distribution was overdue to be reduced again, we didn't do so when we introduced collection rewards initially after we raised it from 150k daily, placing this on par with Collection Rewards now allows us to collect more funding through Alpha Vials and later opened vials in the form of creatures and items which then will get further diluted as the game enters a playable beta where players can capture creatures to grow their collection weight. With Staking Rewards we believe it served its increased purpose for some time there when HP delegation distribution increased to not dilute early supporters. We may have too much zing staked compared to the total distributed amount with current standings being 100m/115m staked:
The Achievement change will be temporary until we have more achievements coming out as the game is playable and the liquidity distribution we'd like to encourage more people to provide liquidity even though its APR is one of the highest of all others by a large margin it's most likely due to volatile markets so do your due diligence before entering the pool on what providing liquidity is and how it works.
Let us know what you think of these changes, we appreciate community input and will consider it before applying them shortly!
Make sure to collect some Holo Dust in December and let us know how that's going by using our @peakd snaps section that can be found here: https://peakd.com/c/hive-131131/snaps
Stay tuned by following us on Hive @holozing
Official Hive community:
Peakd - Hive.blog - Ecency - inLeo
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Witnesses involved in @holozing if you'd like to support them with your vote:
Seems like good changes for the economics for the most part.
I'm still convinced that staking rewards are counterproductive.
Paying users to remove liquidity from the market and lock it up... well I'd argue it has negative value. For Hive it makes sense due to the power of DPOS voting and account recovery and such. For other projects it just makes the token more illiquid.
If it were up to me I'd seriously consider rolling all of the staking yield into the LP to get the maximum liquidity possible. There are many actions that can be taken such as this that indirectly make up for the loss of yield for stakers. For example if the game has a huge amount of liquidity it's easier for number to go up and bigger accounts to enter a position in size. The LP is also the only thing propping up the yield on delegations and allowing HP farmers to actually cash out what they've farmed.
I don't expect any of these ideas to actually be implemented and I won't poo poo an obvious victory in my favor. I just wanted to point out certain problems in the model... such as earning 15% for staking is a drop in the bucket compared to another 100M Zing being printed over the next year. The staking reward is just a tiny kickback with insignificant affect compared to anything that can be done to increase token price directly. And I say this as someone who has 5M Zing staked. I would prefer all that yield go away and into the LP or anything else that can make number go up.
I don't really understand this point, even without an LP in place at all there'd still be the feeless books that people could use who'd wanna buy zing that's cheaper than what you can get from delegating HP if price and apr were to drop under. So it's not really the only thing holding it up and I know you buy zing and place buy walls as well.
Basically it's people who want zing but don't have the HP to delegate/want to use HP for something else vs those delegating for the APR only and instantly trading the zing off for a small hive profit margin.
The thing that I fail to understand why it doesn't get mentioned in these discussions is that LP'ers get liquid zing daily, isn't that also something the providers can instantly sell for a hive profit or to increase their position by selling half and outgrowing people staking/delegating in a major way? Like over 4x according to the APR's right now. Sure there's risks involved there when price moves but that same risk can be applied to staked zing as well for not having liquid zing when the price does move up by 2x like it did recently for instance.
I think staking rewards serve their purpose to reward those who delegated/supported us early and stayed staked over the years, there may be people who only delegated for a short time and then stayed staked so they're getting more zing for staying staked but of course lose out to those that also stayed delegated compared to those that supported early then instantly unstaked and sold off.
Best course of action is of course to diversify how you invest in zing, if you've got all eggs in the LP it depends what your intentions are, if you want value rather than more zing, you'll most likely get it once price moves up and you can also easily exit it if you think hive will move up.
But yeah, I wouldn't be against lowering staking rewards further but not 0 and increase LP a bit more, both of these serve no purpose to funding the team, which is different from LP's on other chains. Unfortunately we never got far with that and may have to rely on vsc here in the near future to help bridge zing to other chains where we then could offer different LP's with different pairs.
Commented before I read this. lol.
Similar outlook.
The only thing we disagree is that the game wouldnt have a way to sustain development if right now all rewards go into LP. Eventually they should but as you can see the first sale only got about 20k USD into the development of the game. So he either does a sale every few quarters or so or the delegation and other rewards stay.
The HP delegation rewards arent really rewards due to high inflation. Theyre giving up a part of your HP APR to help fund the game. Its not really profitable at all. The logic as I see it is that its preferable to give up your HP APR over the course of the year than spend money right away.
Oh yeah I must have not been clear:
What I meant to say was that all staking rewards (40k >> 30k Zing daily)
should be abolished and rolled into the LP (20k >> 30k Zing).
This would double the LP yield even after the current changes.
The delegation funding mechanism is clearly necessary for startup funding even though this is not ideal.
Thanks for allowing me to clarify.
Yeah. I might have misunderstood.
When looking at your comment it's easy to see what happened.
We seem to be saying very similar things.
yes, more rewards to the LP :)
Right now you basically have ultra, uber, super duper diamond hands holding everything. The long term supporters. Id maybe like to see more of it go into LP rewards bringing down the staked amount to about 50%. But that ofc only once you feel youre coming close to the point of where the game wouldnt have to rely too much on HP for funding development. Eventually imo, all the inflation should go to LP providers and to whatever ingame tokenomics you have set up.
This project for sure has x1000 potential.
Sub $100k market cap is wild.
How high did Spinterlands get last cycle? $300M? lol
Easy x3000 :D
If Matt and Aggy help on the token release side of things when it comes to other chains, give some input,what to focus on, who to talk to, etc... I dont see why not. Maybe not 3000x hehe, but 500-1000, who knows. 😜
I have a personal rule where if something goes x80 I need to sell most of my stack.
So I hope it doesn't go x1000 because lol I'll be kicking myself forever.
With this game I dont really look at it like that honestly. Before you mentioned 1000x I dont think I ever even thought about an exit price for me here. lets see what happens. :)
It definitely depends on how much I enjoy playing the game and if I can make some money trading and playing within the economy.
I'm hoping people will start unstaking some come beta release or get liquid zing from the pool to use ingame by then, but yeah the ratio of distributed and staked zing doesn't look healthy either, imagine if Hive had that same ratio and zing doesn't even offer any utility yet.
You can play with the tokenomics a bit. even if all rewards were liquid and there were no staking rewards I dont think people would just dump their tokens. As long as you dont really touch what is supporting development you have room to play with it.
I’m excited about the new Advent Calendar and the introduction of Holo Dust! I just claimed my first dust today, and I think it’s a game-changer for crafting and in-game progression.
Regarding the changes in Zing distribution, I’d also suggest that anyone looking to participate in the game consider buying Vials to build their Zing stakes more quickly.
My goal for December is to achieve a perfect score on the 2024 Advent Calendar! 😄
As a player you'll definitely want at least 1 vial and 1 healer, indeed. It also shouldn't be too difficult to earn rewards on hive as gamers, plenty of gaming communities around rewarding people for posts, comments or snaps. No other chain offers these earning opportunities.
Awesome I loved the last advent calendar and I managed to get it 100% completed, I'm hoping to repeat my success and have this one 100% completed too.
I'm usually not the biggest fan of nontradable tokens in crypto games, but on the other hand I actually kind of like them.
These types of tokens give everyone a solo unique adventure that can't be bought straight to the end, so everyone gets to (or has to) enjoy the journey of the game. Also these tokens are super great to show your prestige and flex on plebs with less than yourself :D
Yeah, the idea is mainly to avoid farm accounts farming these tokens in low efficient ways (even though we'll combat that both directly and passively in terms of rewarding activity and achievements for players focusing on 1 account) then sending them off to their "main" account to cheaply/low effort/through bots getting a lot of ingame materials to craft things and flood the markets with. This doesn't mean that we want players who've completed for instance many different professions to max level and just have an excess amount of Holo Dust cause they play a lot and well to find them useless end-game, there'll be ways to deplete them efficiently then too, just not by directly trading them or sending to other accounts.
Changes honestly sound good to me. I'm just honest to get my hands on the game soon and start playing! I have a feeling you'll make plenty from swap fees (which you should add in right away as soon as the game starts. Some burn maybe but also some fees that go towards the company aka game to sustain it) And pack sales etc should do well for driving revenue. It's your project and baby but please don't do what Splinterlands did and just throw money around. When you're making good money sock it away in safe investments that grow over time.
You mean nft trade fees? Yeah we have some plans to partially burn zing/hive there and partially fund the project with them, as for trading zing itself you probably know we can't place a fee on that :D
We're being very careful with spending, we're still in 2024 and the depression so we not gonna forget that easily. :D
Yep and I would guess you would want some type of swap market as well right? at least HIVE/ZING HIVE/HOLO maybe. I don't know the functions of it all but those swapping fees can really add up and if they are easy to access right in the game people will use it.
swap.hive-zing swap pair only gives 0.25% fee to liquidity providers, along with daily zing rewards, we can't "force" it to give us a % afaik, this is something that's been annoying to me compared to other chains where devs/projects can take a fee, the books on hive-engine are feeless too.
We will however make up for it with nft trading fees, although it won't be large and half will burn zing, and in the future with vsc helping us bridge zing outside of hive maybe we can capitalize on that more.
Wahoo 🥳 Additional new stuff!
And need to complete that advent calendar! 😤 I missed a lot last time.
100% in favour of getting rewards into the collection, as that offers additional protection from scammy farmers.
Question, I see collection rewards and also achievement rewards... so I am assuming collection rewards are only from the vials and don't include achievements, right?
I am asking because users might go into the Reards page and think it might include those too (or maybe it includes for now).
Cheers
It includes both for now, split 90/10 but with the proposed changes above it'll switch to 200/5 basically. Achievements are then also weighted different based on which one you have and the tier, the advent calendar and cakeday one having the lowest weight with the other 2 having higher weight towards the 5k daily zing going to achievements.
Tks
How creative I find this new activity I have claimed my first dust this excites me also is an activity that insists you to visit the page daily and it is good to interact with it
As for the vials I like the idea of knowing that to build something in the game ay to acquire them, magnificent advent calendar.
A new achievement is interesting. Last year I couldn't get it completely, let's see if I can do it this year.
On the other hand, I am not usually a lover of reductions, in any sense. However, as far as a better economy is concerned, I agree whatever brings benefit to the project, because in the end we all benefit.
And well, I would like the holo dust to be tradeable, but the way it will be implemented seems adequate to me as it avoids blatant farmeo.
As a player it is appreciable to maintain a healthy competition.
I'm excited for this calendar. As I missed last year's, I am confident that I will participate in every day of December.
It's good to see the news. I believe these changes will help the game's ecosystem.
I'm not a big fan of increasing the distribution from 410k to 465k. Switching the weight of distribution is nice, but I think just retaining 410k would have been fine. I also think the lowering of HP delegation could have waited until after the upcoming changes [buying packs without hive account and using other crypto] have been set up without problems, just to be on the safe side. I do think these are necessary changes, and fully support them. Now it's just a matter of not forgetting to claim everyday and get those dust and achievement.
The changes are still a week or two off and we hope that buying vials with other crypto and in turn earning zing isn't that far off either so they should align somewhat, maybe giving people here a chance to balance the way they earn based on the upcoming changes. For instance undelegate some and buy some extra vials or straight up buy zing instead of delegating. Let's see.
So excited every time I see Holozing post as it actually looks like things are moving and hopefully in the right direction!
Sadly missed two days in the last years December advent calendar because of work but this time I am free and going for the 100% claim hopefully.
I also like the changes to Zing distribution as I am still thinking of pushing my vial count from 6 to a round 10 and that huge collection distribution change possibly was the last drop I needed to take me over the edge!!
Keep up the awesome work as always, I am so exited and can not wait till I can try the game out and hopefully not long after that already dive into a epic journey!!!
Lots of updates this time! Yay!
I hope I manage to complete them this round!
No issues with the changes! Do let us know when it's effective (so that I can adjust my spreadsheets to satisfy my OCD self hehe)!
The changes are for improvement and these will not be the exception. Also, as you say, it is a very ambitious project where each change to be introduced must be carefully analyzed and the Holo Dust is incredible to continue obtaining more tools in the game #Holozing
I understand your reasoning for those changes and they sound good to me. Thanks for sharing where your heads are at with this and keeping us up to date!
This conversation is interesting and very extensive, ,,,,,, but speaking of something else, I already claimed my first Holo Dust
Why is it always in December, when people rather focus on other things than their virtual life? Wouldn't say February work better? No major holidays, time to chill online ;)
Last year I completed the advent calendar without skipping a day and I will try to do the same also because I will need the holo dust when the game is playable.
When are the changes to the distribution of ZING tokens planned?
@tipu curate
Upvoted 👌 (Mana: 11/41) Liquid rewards.
Awesome update! I like that Holo Dust will be non-tradeable.
It's healthier to have game design that does not focus primarily on p2w/bots/trading!
Sounds good to me. I must admit I have been getting a bit addicted to the stupid tapping games on Telegram so I can now get my daily fix of Holo Dust too!
I will not miss a day of this calendar. Even if I run out of power or internet, I'll go wherever there is :P
This game is evolving great, keep it up!
The proposed changes make sense to reflect the use of the different reward pools and incentivize players to direct their efforts to specific areas as the game is preparing to launch. I also like the use of in-game non tradeable assets such as the Holo Dust to prevent abuse by bot farms.
Not gonna miss out on the advent calendar this time hehe.
Got my first Holo Dust!
Thanks for the update!
I like the changes.
I especially like you are thinking of how to prevent cheating from the get go. Many good games were ruined by cheating.
How can I claim the rewards? I press on the Holozing logo in calendar but nothing happens, on mobile, kaychain
Yes, I have the same problem, no reward appears
hmm, will ask @rishi556 to look into this
This looks like a mobile issue with the numbers not appearing. You were awarded the dust for the day if you see the Zing logo. On a desktop this is what it looks like:
I'll talk to your UI dev about this.
Definitely graphic issue, I got the dust balance increasing even with the logo only
Should be fixed now, can you give it a test please?
working perfectly now, i can see the numbers 👌
!PIZZA
Can't wait to claim everyday in December :) Last Year was on Vacation in Thailand and missed one day :) :(
This game is slowly evolving, keep it up!
looking forward to starting playing
!PIZZA
lets gooo gonna get my dust everyday
Sweet! Was wondering yesterday what holo dust is when I claimed my rewards. Last year, I was only able to claim rewards for 25 days but will complete it this year.
I don't see any rewards like you have?
Maybe when swap volume picks up with usage people will lock more tokens in the LP?
Happy to see another advent calendar as I wasn't around for the first one! 😄
Web3 gaming..
!
It's a really good change. And am glad progress is being made with this project on a daily basis
Thank you for the updates!
I like it a lot, I will be collecting this year too.
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How do we claim the dust? I see it in the calendar, but I'm not sure how to claim...
just claim rewards once per day during December
I am very excited
Greetings, could someone tell me what I should do to claim the rewards obtained in Holozing? I would like to join this great project and community.
Are you not receiving holo dust when claiming zing rewards?
It doesn't give me the option to complain...
you get it when you claim zing delegation, collection or staking rewards.
Yeah, yeah, thanks, I'll get on that soon. A pleasure.
Dang some how I missed a day already? Would it be possible to put a countdown timer to claim for the day as I really don't get what time zone this things on lol
@holozing, you're rewarding 39 replies from this discussion thread.
Been delegating and stacking for a while, first time commenting. I look forward to see how this game turns out. It looks good so far.
Seems good and fair changes to me
Good the advent with material needed to play