PixEOS Changes Staking Model to More Focus on Long-Term Project Development
For those unfamiliar, PixEOS, is an art gamification platform run on EOS. You can read up on it in any of the multiple articles that we have posted in the past. Aside from a pixel drawing canvas game which is now live, the project’s roadmap is flush with super-cool developments, like creation of a dGoods NFT (non-fungible token) standard, building of a digital Art Auction House, Art Gallery and others. Physical print shop is now open as well, which is super cool. For now, you can purchase prints on various pieces of apparel made with designs created by the pixEOS contributing artists. In the future, you will be able to pay with EOS and pixEOS tokens for these goods.
If you were one of the early contributors to the PIxEOS project, you have surely enjoyed a few weeks of extremely high dividend payouts. In fact, all of the investors who staked their tokens can say that for those few weeks it basically rained pixEOS.
In the early days of the project launch, PixEOS team ran into some minor unexpected, yet very quickly resolved delays and decided to thank its community members for their patience with a generous 20M pixEOS/day airdrop. For my personal use I was calculating a dividend yield on my pixEOS investment that went as high as a jaw-dropping 3.9% D-A-I-L-Y return in the early days and that slowly tampered down to a still extremely healthy 1.1% daily dividend. For those of you who are math-inclined, due to power of compounding (restaking all the dividends) a 1% daily return will turn into is a whopping 3678% annualized return if the investment is held for a year.
Just like all the good things in life come to pass, such generosity could not have lasted forever and was unsustainable over the long-term. So the airdrop/dividend was subsequently cut in half to 10M pixEOS/day and recently the team has made an announcement about additional changes to the staking process for their native token, pixEOS:
Starting on the 28th of February, the staking system will be changed from 10 million daily pixEOS distribution to 5 million daily pixEOS. This will continue for the following 160 days, resulting in a total of 800 Million pixEOS tokens to be distributed to the pixEOS stakers.
By cutting the staking rewards in half, we are strengthening the overall pixEOS platform which will lead to a likely higher project value, and more participation & engagement by the community. By staying very agile and flexible to these sorts of necessary changes, our team will increase the overall performance, participation and value of the project….
…With this new change, the other 800 million tokens that were going to be distributed to the stakers will now be used to reward the people that engage with the different platforms of the pixEOS ecosystem.
So basically team decided to shift their focus from simply paying dividends to the speculators to appreciating the actual adopters and users of the project. The logic here is simple: you should only get rewarded if you utilize project’s functionality and not just sit on the sidelines waiting for your windfall payout.
Here are the details of how the new game mechanics will be rewarded:
24 hour Bag
Surprise Game Events
Rewards will also come from using the following upcoming functionality:
My pixEOS Shop
Fred, PixEOS founder said the following:
Some facts that people are waiting to hear but we’ve been too heads down in dev and strategic planing. pixEOS Paint first canvas will keep going until:
1) We deploy all UI elements and gamification layers to consider it ready to leave beta phase.
2) dGoods standard is deployed fully for use in our platform and the auction house ready (if we do it otherwise we will have the a rain of “Wen Auction House?”).
3) The second canvas will be painted in PIXEOS.
4) Platform hub is under development.
5) pixEOS Gallery is under development.
6) My pixEOS shop is live and will be integrated with crypto. EOS will be the first currency and pixEOS will be integrated in the economy in a minting system similar to the Paint system. At the stage there is no timeline and pixEOS as a shop currency is also something that cannot be decided or disclosed at this stage.
All in all, this feels like a good move by the team. Speculators will come and go without ever understanding the true power of the project. The real users, arists, collectors and adopters are the community that needs to be rewarded for their belief in the project.