Hello mortals! It’s InFinitySquid here (or SquidBeard 🦑 if you’re Coxcelot on the GU Discord). Today, I am excited to share more in-depth details about Offering of the $GODS and what the Gods Unchained community can expect when it launches in the coming weeks.
Over 1 MILLION $GODS tokens in total will be redistributed to players who have held and will continue or start holding $GODS tokens in their Immutable X wallets and who meet the eligibility criteria in each period. From our estimates, over 80% of IMX wallets containing $GODS are eligible for these rewards, and we’re very excited to be able to bring it to as much of the community as possible where traditional staking programs would not!
This program is a pretty significant milestone in the history of this project and we want to make sure that everyone in our community is aware of how it works and what is required to earn rewards. It helps fulfil our promise of staking in the interim, while we work towards designing something that is both industry-leading and game-centric.
Think of Offering of the $GODS as the answer to “wen staking” for right now.
Introducing a staking mechanism like Offering of the $GODS adds more utility to the $GODS token. Players who engage with the wider Gods Unchained ecosystem will be rewarded for their actions in proportion to how many tokens they hold over a period of time. This is a unique way to utilize tokens and something that just doesn’t really exist in traditional products. Being a web3 game allows us to create unique experiences for our community such as redistributing $GODS tokens back to our active players as rewards for their loyalty and engagement with the product.
All of the rewards that are being used for Offering of the $GODS have come from player actions, including utilizing the Forge and purchasing Expansion Packs. Redistributing this value back to active members of the community is something that is only feasible due to the incentive alignment between community and developer. We can utilize these tokens more effectively to incentivise players in a way that is economically beneficial for the whole ecosystem!
Below we will go through the reward periods, the eligibility criteria for Offering of the $GODS rewards, as well as some quick notes on the reward calculation. Read on to get all the details.
Reward Periods & Snapshots
So I have mentioned “reward periods” a few times but what does that mean? Let’s go into some details about how these rewards work, how they’re determined and how over 1 million $GODS are going to be distributed. The most important part to understand is that the rewards are broken up into weekly snapshots for both how rewards are calculated and how eligibility applies. Rewards are calculated each week if you meet the eligibility criteria in that period. If you miss meeting the eligibility criteria in a given week, you only lose out on rewards for that specific week. This ensures that players are rewarded for the periods where they were holding their tokens even if there were some periods where they decided to spend them within the game. We want to ensure we can capture and reward this value rather than taking a more brute force approach that only captures members of the community who were consistently holding their tokens. All other weeks where you have met the eligibility criteria, you will still receive rewards. There will be two distinct parts to Offering of the $GODS: our Surprise Rewards and our Ongoing Rewards:
- Surprise Rewards (33% of the total $GODS)
- Delivery in a matter of weeks
- Covering from December 1st 2021 to June 12th 2022
- Snapshots taken on a weekly basis
- Will need to be claimed on the Gods Unchained website
- Ongoing Rewards (67% of the total $GODS)
- Delivered monthly in batches of weekly snapshots
- From June 13th until the end of the program
- Snapshots taken on a weekly basis
- Will need to be claimed on the Gods Unchained website
Lets go through what eligibility means for both the Surprise Rewards and Ongoing Rewards from Offering of the $GODS. As mentioned rewards are calculated each week that you meet the eligibility criteria so, if you miss meeting the criteria in a given week, you only lose out on rewards for that specific week. While you can only control eligibility for the upcoming Ongoing Rewards, the same criteria will be applied retroactively for the Surprise Rewards to ensure the distribution only takes into account those players who meet the criteria and therefore considered a citizen of Gods Unchained. Overall, this is designed to ensure that we capture the different facets of what makes someone a “citizen” of Gods Unchained in the context of a wider ecosystem.
To be eligible for rewards a player must:
- Be holding their $GODS tokens in an Immutable X wallet AND;
- The Immutable X wallet must be linked to Gods Unchained.
Plus one of the following criteria:
- Player (Play at least one game of Gods Unchained in each reward period) OR;
- Minter (Create a new NFT through the Forge at least once in each reward period). OR;
- Purchaser (Purchase at least one Expansion Pack from the Gods Unchained website during each reward period). OR;
- Secondary Market Buyer/Seller (Purchase or Sell a Gods Unchained card from any marketplace running on the Immutable X platform at least once per reward period).
As we speak, we are already gathering data for our Ongoing Rewards as part of Offering of the $GODS, so please familiarize yourselves with the requirements to ensure your impact on the Gods Unchained economy can be rewarded!
Last but not least, I would like to take a bit of time to explain how rewards for Offering of the $GODS are calculated. We will be utilizing a similar calculation method to how $GODS are earned as rewards in Weekend Ranked. Each reward period will have a specific number of $GODS that are available in a pool and each player will receive a percentage of the $GODS in that pool relative to the size of their $GODS holdings for that period. The percentage of rewards is calculated based on the minimum amount of $GODS a player has held in that reward period as a portion of all the $GODS tokens held by eligible players in that same time period. The reason we are using the minimum amount of tokens as our measure is that this is the best representation of how many tokens a player held onto for the reward period. We don’t want to use average holdings as we don’t believe we should reward wallets that temporarily hold significant amounts for short periods of time. We want to reward long-term commitment which strongly aligns with our goals of creating a sustainable and lasting economy for Gods Unchained.
For example, if a citizen has held 10 $GODS tokens in a period and is eligible for rewards, and all other eligible citizens in that same period held a total of 100,000 $GODS, the citizen would get 0.01% of the reward pool. If the reward pool for that period is 20,000 $GODS, the citizen’s reward would be 2 $GODS.
We want to make sure that all of our community feels rewarded and recognised for their loyalty and commitment to the game, whether they be hardcore veterans or newer players just starting to engage with the economy. However, at the same time, we don’t want to distribute tokens without good reason and want to ensure everybody feels confident that this decision will have a positive impact on the game economy. Our goal with Offering of the $GODS is to provide an incentive for people to keep their $GODS tokens on Immutable X and ideally provide a reason for people to bring tokens from the Ethereum network back to Immutable X.
This program rewards our loyal players proportionally based on how much of the held $GODS supply they are holding on to since more tokens held mean a greater benefit for the game’s economy. Ultimately, we want to bring mechanisms that encourage all of our active players to hold a portion of their $GODS tokens and to reward them for doing so. In doing this, we need to strike a healthy balance and let players decide where they get the most value from their $GODS tokens. This could be through utilizing them to improve their collection, engage more with Gods Unchained or holding onto it them while engaging with the game to earn rewards.
We know some people will still have questions about the calculation of the reward and what it means for each of you so we wanted to provide you with as many details as possible to allow you to better understand how Offering of the $GODS will work. For those who are interested, we most definitely encourage you to join the Reddit AMA with the development team on the 27th of June at 7:00pm Pacific Time to answer any additional questions.
The team and I want to share a massive thank you to all our Gods Unchained citizens for their dedication to the project. While this is our first program to reward our community for economically beneficial behaviours, it definitely won’t be the last.
One of the key promises of web3 is that communities can grow and succeed together and that philosophy is very important to us on the Gods Unchained development team. You are all vital to the success of this game and we wouldn’t be where we are today without you, so we can reward you for your contributions to the project when we start distributing tokens from Offering of the $GODS in the coming weeks! Let’s succeed together as we work to grow Gods Unchained in the years to come!
InFinitySquid, Product Manager of Monetization