A Letter to the CyberDragon Community
Dear CyberDragon players:
Greetings to everyone!
As for now, the first DAO vote has ended.
This is a great innovation and the first attempt of a DAO vote in GameFi. The Team would like to thank everyone for their participation with the continuous and strong support from all our community volunteers and members.
As an on-chain audit confirmed by the project team, the result of DAO vote was Option 2, and the votes of Option 2 accounted for 74.32% of the total votes.
During the DAO voting period, the BinaryX team reviewed the suggestions from the community. We recognized the diverse voices and even faced controversies and concerns, which is inevitable moving forward on the road to the development of the project. We received many effective suggestions from the community’s feedback as well. All these feedbacks are valuable and will be taken into full consideration in our future development.
The following is a detailed description on Option 2:
About hero NFT:
1. Option 2 will not destroy the player’s hero NFT, and players will still have the opportunity to withdraw the hero and participate in the game in the future.
2. Option 2 is not immutable, the DAO system will allow players to propose and pass new parallel plans in the future.
3. The DAO system allows players to switch back or change the existing economic model and mining mechanics if the actual results of Option 2 do not meet expectations in the future.
About the economic model of Option 2:
New Daily Mining System for Previously Recruited Heroes:
We will introduce a brand new daily mining job for all the previously recruited heroes. The income of the new job depends on BinaryX project income, which is BNX token, including BNX, NFT commission fee, CyberLand auction income, etc. The initial income distribution is 10%. (In the future, the proportion of revenue distribution can be adjusted by voting through the DAO.)
The previously recruited hero (regardless of level) daily work will be suspended, and players can also choose not to put heroes into the new work type, keeping heroes for dungeon adventures, PVP, and participation in the CyberLand.
Newly Recruited Hero’s Work and Adventures:
Newly recruited heroes can participate in mining. The heroes have a limited mining life cycle (boosted mining period). When the mining period is over, the heroes can be used in dungeon adventures, PVP, and other games on CyberLand, but the new heroes cannot participate in the dividend mining pool of the previously recruited heroes.
CyberDragon will launch a new dungeon rewards system, dungeon productivity will depend on how many times players’ do dungeon adventures, Example:
As the number of adventure times increases, the total output will increase. But the single-time output will decrease slightly to prevent the economy from overheating. As the number of players decreases, the single-time output will increase to encourage dungeon adventures. In addition, the single-time output is also related to the current number of miners. If there are more miners, the total output of dungeons will increase; Less miners, the total output will decrease, which is a dynamic adjustment model.
Improve the Existing DAO System
During the voting process, the community mentioned that the voting power of players holding a large number of NFTs was ignored, and NFT is also an important asset of the game. But the voting power of NFT was not included in the first DAO. Using tokens as voting power is the standard of Defi project voting, and the value of NFTs are different among themselves. There are some considerations we have to take i.e How to calculate the voting power of different NFT? , etc. Adding to the various considerations, NFT Voting may also be controversial and is also time-consuming in terms of development, hence we did not add the voting power of NFT this time. In the future, the team will try to build a balanced NFT voting power system and add it to the voting system. We hope for the community’s understanding and patience to give us some time to create this new refactoring, and we welcome the community to join us in this great experiment.
BinaryX will open the DAO proposal system. Anyone can burn a certain number of BNX to initiate a vote. After voting, we will adjust the system according to the results of the voting. The project team will not manually adjust/change the parameters of any economic model, the prices of all the output and tokens in game will depend on the model to realize automatic balancing. Any adjustments and changes will only be made after a community vote.
Finally, we would like to thank the community volunteers and members for their support and suggestions. Option 2 is not a foregone conclusion, the CyberDragon Hero NFT still exists, and new heroes, mining, and dungeons are expected to launch in mid-February when the game will be open to the public again. The CyberDragon economy is still flexible enough to change for the better. We look forward to further improving our engagements and communications with the community, improving the CyberDragon, and bringing us one step closer to realizing the Dream of Cyber Metaverse.
Here’s the breakdown:
Disclaimer: This data is a snapshot taken at a specific time and may differ from the hero and BNX data you currently hold.
Hope to scale new heights with all CyberHeroes in 2022!