Letter to BinArmy: The past, the present and the future of Binemon
Recently, we have received a considerable number of community responses, enquiring their perspectives on the reward plan for Season 19, which centers around Bronze & Silver players who will receive Sill Gem rewards. Fact is, we always listen to your input. We constantly change and adapt to ensure optimized benefits for our players and investors, even up to this point. Most importantly, in any legit crypto project, the crowd’s benefits will need to be following the sustainable growth of the project and the guaranteed time to develop core products in the project.
One knotty question that is usually raised among us is, while product fruition is approaching, we’re having a low market cap and ongoing plans for market penetration and partnership development, what if our P2E reserve is all used up? Should we keep reminding the community of the more significant target that is now a long road from where we stand, when the conditions in each phase do not allow us to be extravagant in satisfying the community on an individual scale? Does the community share the same vision with the developers? Who will be there and accompany the project until we can achieve our targets together? We always strive for a long future for Binemon Game that can last for years or even generations!
In this article, we will together go through our conditions, future plans, and Binemon Team’s perspective for the present time and the future.
Modest figures to demonstrate a game that is being developed with real product (Phase 3/10).
- $BIN price: $0,0067
- Market cap: $4,700,000
- Liquidity pool: $2,100,000
- Token holders: 34,000
- Real players: 5000
- Active NFTs (Mons): 60,500
Total revenue contributed to P2E Fund: 187,000,000 BIN & 303 BNB
Total reward (up to now): 130,500,000 BIN & 165 BNB
Remaining P2E Fund: 56,500,000 BIN & 138 BNB
*Please be noted that BIN token applies Fair Launch model with 100% circulating supply owned by the community & P2E Fund raised by the game’s revenue.
Controversy on Skill Gem
True nature of Skill Gems.
Since its introduction, Skill Gem NFTs have been described as a brilliant product that cost Binemon Team countless hours and effort to build and successfully integrate. Do you absolutely agree that Skill is one of the most essential elements that determine the thrill of an Idle game? Of course, Skill Gems proved to be effective in both enhancing the battle’s result in Binemon Game and the profit of players when transacting these special NFTs.
We gave it to you, for free.
Is it a coincidence or something else that made you overlook the fact that we did give these special NFTs to the community for free? Why didn’t we sell these Skill Gems? By doing that, we would absolutely generate a specific revenue for the project and the developers’ individual benefits.
We chose not to do that. We have always cherished and prioritized the benefits of our players, demonstrated with our P2E Fund model that utilizes all of the project’s revenue for players. Binemon players have been receiving rewards in $BIN and $BNB, despite the market trend and exit scams, and Binemon is being persistently crowned as one of the actual and potential GameFi projects.
Inflation always decreases the value of an asset, including NFTs or any coin/token, regardless of their nature. Just imagine, would your Skill Gem NFTs still be valuable if they didn’t have an effective distribution model? You are more than capable of understanding that distributing them all through PVP or PVE (level-based) will lead to excessive supply. What will demand come from, then?
They seem not to be appreciated.
Controversy has arisen, and some players, even in the Bronze & Silver ranks, complained that we are not being fair with the proposed Skill Gem distribution. Our propositions in our plans are not enough to convince them that all adjustments are made based on meticulous calculations to ensure progressive benefits (for both players and the entire project). Frankly, even Bronze and Silver players could not realize that exclusively receiving 8–16 Skill Gem Fragments per month will give them a chance of a guaranteed income.
Therefore, we have listened to you and will consider permanently stopping distributing Skill Gems. Bronze and Silver players will continue to receive $BIN and $BNB rewards.
Transferring our emphasis between PVP and Squid Game series
Fact is, in Binemon Game, the investment and power gap between players are drastically widened in a competitive environment such as PVP. This game mode primarily exists in all games in the market now. It creates ranking competition, thrilling and climatic matches, and can be treated somewhat as an E-sport tournament within the community. In essence, players input all of the best resources (EXP, Skill, Stat, Mons, etc.) to reach the highest status. Needless to say, NFT games imply a massive requirement for investment to compete in this game mode effectively.
Therefore, PVP does not belong to the crowd.
Where should newcomers and low-tier players focus on? The answer is Squid Game series, a Metaverse future with excellent expansion potential that Binemon Team is aiming towards. Low entry cost and simple gameplay can bring a significant income source and evenly among players in Binemon, who primarily locate in the low-mid tier.
Plan: PVP reward from Season 19 onwards will introduce a decreasing trend and the focus shift to Squid Game series. Firstly, the reward for PVP Season 19 will be decreased to 3,000,000 BIN and 20 BNB. At the moment, Red Light Green Light is distributing 1,500,000 BIN each season. When Glass Bridge launches (soon), the game mode will also distribute 1,500,000 BIN, increasing the total reward distribution from Squid Game series to be on par with PVP. This means most of the distributed rewards are directed towards the majority of players (low-mid tier).
At the same time, this will be in accordance with our current emphasis: increasing the income of low-mid players while effectively sustaining the P2E Fund.
Innovations can stimulate success, and sustainable success must come from efficient strategies. We can be confident that token inflation strategies carried out by come-and-go P2E projects have never been part of Binemon’s vision. Moreover, with Binemon’s P2E model, that type of strategy can never be made possible, even for Token or Skill Gems.
We are working hours by hours to discover a solution for PVE reward that will profit both players and the general project. We intend to reward “busy bee” players: besides EXP, they will be randomly rewarded with a completed Skill Gem (not Fragments) as a winning lottery ticket. This can be very exciting when you do not know when you will be rewarded, and the joy lasts for eternity if you are blessed.
Still, Binemon is under development. Only 7 months have passed since our introduction, and there are lots of ongoing plans for major products to be built:
- Squid Game — Glass Bridge (85%).
- AR/VR implementation in Metaverse (70%).
- Guild System (80%).
- Plan: 3rd game in Squid Game Series, BineLand,…
Besides, market penetration and partnership development plans are being conducted:
- Exchange listing.
- Joining GameFi alliances.
- Integrating more transaction portals to buy Egg/Apple with coin/token from our partners. More rewards will come.
- Reaching out for new technology partners
- More partnership events.
- The expansion of GuildFi Found.
And many more plans are being executed. The future is always bright for Binemon. As long as we keep on building, nothing is unattainable. Everything will be balanced and fair, for the contribution and companionship of every parts of Binemon Game.