Good day, Degens.
You know that the game of DegenX was, at some level, inspired by an idle MMO game name RaidParty. RaidParty is a trending PFP+GameFi project on Ethereum that launched in Q1 2022. It’s an on-chain idle MMO, with well-designed UX, simple gameplay, mature game economy (compared to the previous GameFi with no total supply limit). It attracted many players, including degens, to participate in auctions, sales, and P2E. We were all looking forward to it.
Unfortunately, the game launch brought us all down. $CFTI has been significantly dumped, with few newcomers, the disappointment in community, and the constant delay of the team.
So, what’s the real problem?
If you check $CFTI via a blockchain explorer (https://dexscreener.com/ethereum/0x6a8c06aeef13aab2cdd51d41e41641630c41f5ff), you will surprisingly find out that $CFTI only has $100K in liquidity. Sadly to tell you, It all came from the users. The project team hasn’t put a single penny in it!
** **No liquidity >> High Vulnerability in Price >> Loss in Confidence of Core Users >> Panic Sale >> Push the New Users Away
Why didn’t they add liquidity?
Before RaidParty got online, the team has earned about 20,000 ETH through auctions of Genesis RaidParty Hero and sales of RaidParty Hero + RaidParty Fighters. The use of this huge amount of ETH hasn’t been disclosed in the community. From what we can tell now, not even 0.1 ETH has been used for $CFTI liquidity to ensure the smooth and healthy development of the game.
Where did the ETH go?
As the ONLY governance token of the RaidParty, other than the consumption within the game, we haven’t seen any use case outside the game. The core token of an outstanding P2E game is inseparable from DeFi structure design. The essential in DeFi is to help increase the liquidity, improve consensus, attract new users, etc.
The only DeFi design we see in RaidParty was the upcoming issuance of $CAKE and eCFTI!
Stake $CFTI-ETH to get UNI LP >> Pay UNI LP in exchange for $CAKE >> Use $CAKE to increase the level-up success rate of the NFTs
So what’s the core of $CAKE?
↓
Using the non-transparent game profit to induce players to use ETH in their wallets for liquidity adding. The team still offers NOTHING. And there was no actual action after the team announced the new update, and the price of $CFTI fell by 90%!
To start the game, you need 1 Hero and 4 to 6 Fighters. Yes, that’s what they say - the total cost to play was about $15,000 at the beginning. Such a high cost seriously hindered newcomers. For now, $CFTI fell to almost zero. Early players just paid high costs with no payout.
The DelayParty - Remember after the auction and sale were over, the game was postponed several times due to various kinds of reasons. It was supposed to be online at the end of January, but it ended up launching in early March.
All the postpone announcements have been deleted, but social media helps you remember. Not only mint and game launch, but also many guaranteed actions including crucial features to the game, have all been DELAYED. DelayParty failed the community and the whole project.
As a PFP+GameFi, RaidParty had a great start. But when the game is drowning, can we possibly find other potentials?
Let’s say, PFP?
RaidParty Hero has its unique style and the team can totally build its own culture. Well, as we can see now, nothing has been built on that.
We don’t know if the team has a related roadmap in progress and the steady will to build an outstanding project. But they should definitely finish the roadmap they guaranteed before moving on to the new idea.
So how will DegenX evolve from what we learned?
DegenX will deliver what we say.
DegenX will be efficient and fulfill the blueprint fast.
DegenX will be farsighted - the Game is just a beginning. DeFi, DAO, Club, ..., we degens gather, build, and moon together.
Let’s wait and see the Degen shines!!
In the next article, we will elaborate on the roadmap of DegenParty.
Degen or Die
LFG!
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