The Future of Memenopoly
TLDR:
- The Game and NFT Farms will pause on 11/17/2021
- MNOP Token will relaunch at a 20:1 ratio, date TBD
- Small sell tax added to the token, which feeds the vault
- Games will be timed and each new game having new properties.
- Current properties will be in packs, LP rewards and can be farmed
- Old Properties will be Vaulted and used for Share Points
- New locking mechanisms for farm slots.
Over the last 3 months we had many successes, but we have also dropped the ball on our side in a few key places.
Inflation
Right before we launched we cut all farming rewards in half, so we were already aware inflation may have been an issue. After launch, we kept a close eye on it, MNOP was meant to be a farming token so we understood the supply would increase, but what we learned is that the current supply rate was still too much to be fully countered by our burn mechanics.
For a while it was great, MNOP burns for packs were putting us over 50% into reducing supply status! But the lack of the original properties in packs, and the decreasing price slowed the store sales, which in turn slowed the burn rate drastically.
Information
We lacked some key components on the information side. All the info was there, but mostly just in our TG channel which is a poor way to advertise our product, i’m just being honest.
This is something we’ve been working hard to fix and there are no excuses. We’ll soon have all those boxes checked and a unified brand to promote.
Marketing
We are constantly hit with the “wen marketing” . The truth is, we have spent most of everything we have earned on crypto “marketing” AMA’s, shills, ads, news stories… We’ve been dicked over, we’ve been scammed and we have tried just about every avenue outside of a billboard.
What we are missing isn’t the marketing, it’s Public Relations. We need a champion out there working for us. We are actively looking for someone that can help fill that role and take the lead. We have an amazing product, just not many people know about it yet. And shills and AMA’s aren’t going to get us to that next level.
The Goal
What we want to accomplish is to take what we have learned in the last three months and hit the reset button as much as we can and restart everything as it should be. And do this all without trying to abandon or devalue anything we already have in place! Challenge Accepted!
We are regrouping and working on providing the proper hype a relaunch should provide. To do this, we’ll need to pause for a moment and come back better than ever!
Taking a breather
We will pause the games and the NFT farms a week from now on 11/17/2021. The LP farms and NFT rewards will remain running 100% of the time. A small break in between will help build the hype as backwards as that may sound! It will also let us keep the inflation under some control for the small time we are in this state, but we’re not looking too long into the future on this, as true to the Memenopoly style, things will be ready to go. But this is also something we’re not going to rush out for the sake of rushing out, we want the hype to match the tech this time around!
With all that being said, we want to lay out a very specific plan of the changes to the system to keep in the spirit of better information flow.
Game
The new era of Memenopoly will have games that are on a timer and will have a finite end, with 100% new properties in each game. These properties will be in packs and LP exclusives and will be in the same supply ranges as the first set of properties. Once the game is over, the properties will be Vaulted and a new set introduced. Once they are vaulted they will receive shares for being locked or given to the vault. And with our new NFT farm setup, we may be able to even let you farm with them still, but that will be decided during testing when we can see the numbers. What we want to achieve is always having something for new players to get in with but not make anything disposable.
Certik Audit
We have applied the suggested Certik changes to all of our contracts, which we feel there is no need to push out until we have the new system in place, but it also means we’d have to migrate all of our contracts anyways, so this serves that purpose as well!
We are also live on Skynet!! Check us out and vote for us!
Token Supply
As part of our Certik audit we needed to make some changes to our token contract. Nothing major but this will let us both raise our security score and migrate to a new token/chart at the same time. In the interest of reducing supply and adding back farming value, we are going to do a 20:1 migration, so you will receive 1 MNOP for every 20 MNOP currently in circulation. This will let us list at a better price, which will make farming attractive again, and will reset the supply to a much more manageable range, and in the end, the value of all your tokens would remain, they would just be consolidated.
Tokens Tax
We’ve been very much against a token tax. The idea of what you send is what you get is something that we feel very strongly about… However, we are also realists and we feel that a small tax on sales, that will be partially used to feed the vault, up the LP and reward users in BNB, is something that will in the end add far more value to the token than the tax itself. We haven’t officially decided on the amount yet, but we intended to keep it as small as we can and still have it be effective.
Rebalancing
We are putting a lot of effort into getting all the numbers correct. This means we will most likely be rebalancing the farms and in-game rewards to provide a profitable, yet maintainable yield/rewards system and will be using the knowledge we gained from the first launch to put us in a good place for long term sustainability. But the goal isn’t to nerf it too much!
NFTS and Farming
The NFT farms have been our biggest success and our biggest weakness at the same time! The allure of the amount you could yield per day was huge, but the constant dumps from people earning all that per day, was bigger. And the dilemma is, if we lower the daily MNOP, we are essentially lowering the value of the NFTS and that’s counter productive.
So how do we fix this?
We’ll make you have to lock up more than you can dump to be able to farm at those levels!
Instead of having 60 slots you can just fill, we’ll introduce something that has been tried and tested in every type of micropayment game, we’ll lock your slots!
You’ll have some open to use for free, but after those are filled, every slot will need you to stake X MNOP to enable it. Once it’s enabled you’ll be able to add to your farms. You won’t be able to unstake the MNOP as long as you have an NFT staked in the slot, but you can get it back at any time by unstaking the proper amount of slots, and then unstaking your tokens. At which time the slots will be locked again.
Simple yet effective! The end result is you’ll need to have more MNOP locked up then you’re going to make from the farms, but it’s not a burn fee or a tax, so you’ll get it all back, it just gives a little insurance that you have to be seriously invested to make serious yields, but doesn’t devalue the farms as a whole.
Next Steps
Tech wise, we’re not slowing down in the slightest. All these changes are already done or underway in some form and most are already up and working on testnet, so everyone can participate in shaping the future and help us find anything we missed and iron out the final numbers.
This new launch will also include the vault system, which is much better suited to be rolled out in this form, rather than try to patch it into the existing tokenomics, and with the new adjustments to the token to feed the vault, it’s one more way you can earn in the Memenopoly system!
We really appreciate our community for being patient through this rough patch. Some have come and gone but so many have stuck it out with us, and we owe it to you all to do everything we can to push Memenopoly to its rightful place in the blockchain gaming space!
