Niftygotchi midterm update
Citizens of niftygotchi,
It’s been a rough week. Not just on price action but also our psychology. Massive manipulation in the markets, altcoins getting slaughtered. For the class of 2021, welcome to crypto. For the class of 2017, we know better days are coming 😊
Ok back to Niftygotchi! Niftygotchi started out of nothing. Just Mr.Gatchi (now Mr.Gotchi) and I, with a couple of community members, everything was birthed with the help of the community. We have come far, and we will go further. To address the elephant in the room: wen matic?
Niftygotchi decided to turn to matic(now polygon) as a solution for high gas fees. This became a problem after our fans got addicted to hatching TAMAGs, dressing them up, putting them to work etc. And high gas fees would have killed the game before it even started. So we started a long journey of mega ambitious and huge changes to niftygotchi:
- Revised tokenomics which bring together TME, TMC, TAMAG, TMA. It creates a healthy ecosystem that continuously invites new players, but also encourages the current players to stay, while not being too overpowered. (credits to mr gotchi, coinflipcanada, niftypig. They got some kickass brains and tokenomics going😉)
- A move to matic(polygon). Cheap and near-instant transactions. This ensures our players get to fully enjoy and interact with their TAMAGs without being hindered by gas fees. When we picked matic, it wasn’t really popular. Now it is the L2 for ethereum. So we are pretty happy with this decision.
- At the same time as 1&2, our frenzies rollout will continue, and they will first go-live on polygon!
As you read in our mediums, it is evident that each of these developments are not trivial, and requires lots of development and testing to be robust. It’s not going to be a simple journey but we will make it.
Mini progress update
At the current moment, the following have been completed:
- Bridging assets from L1 -> L2
- Bridging assets from L2 -> L1
- Simple UI for the bridge
- Frenzies development and alpha testing
- Marketing for frenzies launch on polygon all locked and loaded
The outstanding items to be completed:
- Revised UI for the bridge to make it more user friendly
- Planning the details of the migration of assets. This includes how liquidity will be split, where the liquidity will be, how the move will be done. This is complicated because we want to minimize disruptions and damages to the trading of TME and TMC. And we have the TMC/TME pool that needs to be handled as well. So yea, it’s complex and many decisions to be made.
- Staking contract for TAMAGs — to allow TAMAGs to receive ‘dividends’ from the TMEs used in the hatchery. I don’t think this mechanism has been done before, so it will be a freshly written codebase.
- Staking contract for TMC — to allow TMC holders to provide liquidity on quickswap. However, as TMC supply will be capped, the rewards will have to come from TMC expenditure in the store. As such, it is not a simple forking of a yield farming contract, it has to be specifically designed for our kickass tokenomics.
At this moment, I am unable to provide a timeline or a release date, but I will try to provide more updates and communications. Communications has been my weak spot and I will seek to improve it! Thank you for the immense and continued support for niftygotchi 🤩
Stay safe, stay sane
As we move closer and closer to release, and as the market heats up again, I am confident that patience will be rewarded. Stay safe, stay sane. And as always, remember that your health is the most important! This period of COVID has been tiring but as long as we stay strong we will survive!
