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Crypton Report 23-10-2021 ENG 2
Crypton Report 23-10-2021 ENG 2
Although the possibility to obtain high algo cost NFTs was always latent, the method
used was a trick to the system that affects all NFTs holders, not only the BGPWR or
BEPWR stake but also the creation of BNGR and Z1 distribution. Binamon wasn’t
directly affected but users were receiving less rewards from different ecosystems, such
is the case that only one genesis NFT was getting the 15% of the BGPWR staking
pool.
1. We increased the price of the boosters to avoid the “hacker” contract to operate
easily, and even if he buy at that price, that would mean 1M BMON burning.
2. We paused BGPWR farm contract, locking the hacker with all his BGPWR and
BMON unclaimed rewards. This locked the rest of users but we are working to
send the rewards to the legitimate users.
3. We banned all NFTs that were created using this hacking method and the
associated accounts. The community has to understand that it doesn't matter
how good a falsification looks, those cards are fake.
BGPWR and BEPWR systems were developed with the objective of allowing flexibility
to work with different farms and advanced mechanics in the management game, a lot
of these mechanics are not developed because of the development resources
consumed by Binamon’s Runner improvement, which nowadays is the most used
product of Binamon. In addition to this BGPWR liquidity pool allowed a lot of people to
stake without owning NFTs, this wasn´t the objective and a lot of speculators took
advantage of this situation. As a consequence of all this we decided to completely
remove the conversion system of the NFTs to BGPWR and BEPWR. Stake will be
directly by NFT.
Runner’s reward pool, as it was told before, is related to the amount of BMON and Z1
invested in creatures boosters, in order to have a sustainable economy, contrary to the
uncontrolled emission of tokens in other projects which result in hyperinflation, in our
system, the reward pool is based on the buy of Z1 boosters (the Z1 component),
backed up by the BMON component in the purchase of the boosters and in escrow for
buybacks. The system is stabilized with a maximum amount, so purchases in
excess are kept in a secondary pool that supports the rewards when purchases are
not enough. The problem is that now with the boosters at an inaccessible value, the
sales stopped completely, and during these days Binamon supported the rewards from
our funds, but now we have to make the correct adjustment and while we work on the
mid term solution, we will continue to support the rewards from our reserves only, that
is why the rewards starting today are lower.
The previous consequence happened before the release of new use cases for the Z1,
so a big percentage of the payments went directly to be sold on the liquidity pool,
without another use for Z1 once the boosters are not accessible anymore. We have
been working for some time in the solution of this by an improvement market inside the
game and two new mechanics related to the Runner but not announced yet, the
demand of the Z1 token is expected to increase on that launch, along with the return of
the boosters on a new contract.
2 CRYPTON STAGE 2
On the launch of Crypton Planet, there was many planned mechanics, and the Binamon
Runner was only one of them, it ends demanding a lot more time and development resources
but the full planet economy has many parts that should work in syntony. While we love to
improve the game, the full planet crypton implementation is needed now, so for the next
stage on the Crypton planet we will make those mechanics so this planet could be that original
vision of a planer founded and managed by the holders.
2.1 GOBERNANZA
From the founding of the Crypton planet, there was a lot of cases which needed the mediation
of the Binamon Galactic Federation to solve, but the original vision of a Crypton Government
requires this cases to be solved by them, the biggest Z1 holders, for that work, the holders
should be paid, but also take responsibility, this is of course optional, but having the charge is a
opportunity to earn tokens and participate in the most important decisions in the planet to
protect their investment and maximize the utilities for all the holders.
3 NEW COLLECTIONS
We are working on 5 new collections and nft migration of the current collections. 2 of the new
collections are of special importance for the Crypton and Binamon
4 SECRET
We will soon provide more information about this project to create real value while playing in
exchange for rewards, part of the Tango Chain project.
5 BINAMON ARENA
Coming news related to Binamon Arena and Crypton planet soon.