pixEOS Mega Update: Burn, Staking, Utility & Products
The pixEOS project was designed from the start as a long-term project. The goal was not to simply have a painting game or a couple of puzzle games. The plan was and is to develop a healthy gaming and art ecosystem that integrates the creation and trading of artwork, digital and otherwise. While pixEOS is barely 6 months old as a project, this plan is entirely on track. As with every software project, problems arise and need solving, and sometimes things take a little while longer than anticipated. This is not news. It is the cost of robust software. We are following our roadmap, and even publishing fun little side projects that we believe enrich the community. We will continue to do so.
On May 8th, 2019 the pixEOS token was finally listed on its first exchange, NewDex, which provided a healthy volume for the token, even though the price of the token dropped far below the team’s and community’s expectations. The prices displayed over the course of the month, even after the listing on other EOS major exchanges, were well under the sale price, even though new pixEOS platforms kept being released throughout the month.
As for the tokenomics, we acknowledge things could have gone better. We know it and we’re working on it. But it can’t happen overnight. We will improve things for the long term, not just apply some quick fix that would not be sustainable overtime.
These were the products that were released in May, all with active functionality for the pixEOS token:
Blockatrix 3000 (Fast-Paced Action Strategy Game)
pixEOS Paint The Arcade (Strategic Puzzle Game)
Grand Cannon (Strategic Puzzle Game)
pixEOS Reel Slot Machine
The pixEOS team was able to bring to you, the community, 6 different products during the month of May, and this is only the beginning!
We are also very happy with the feedback that you have been giving for the games that were released, as well as the truly awesome piece of art that the pixEOS Paint FE canvas has become.
Upcoming June & July Releases
We are working hard to make the month of June as awesome as May was in terms of platform releases and updates, and we expect to launch the following 7 updates:
Grand pixEOS Art Gallery Release (Buy, Trade and HODL amazing art created by the most talented artists)
2 New Arcade Game Releases for the pixEOS Game Center
pixEOS Arcade Games Multiplayer Expansion (Blockatrix 3000, pixEOS Paint the Arcade, Grand Cannon + the 2 New Games will all get multiplayer updates where people can compete against each other)
Game Center 2.0 Update (Player Factions, Daily pixEOS Rewards, Withdrawal Feature, and much more)
pixEOS Paint FE Canvas converted into rare digital art and New Canvas Start
My pixEOS Shop (Buy Awesome Merchandise from our artists and partners with EOS payments)
Rare Digital Art Auctions, Freelance Marketplace and Surprise dApps
After the launch of the gallery, the pixEOS team will continue working around the clock to deliver the next platforms outlined in the roadmap.
The next big update that will be added to the gallery will be the auction of digital and physical artwork. This feature will be inaugurated with the sale of the first pixEOS Paint canvases, as well as the physical art collaboration canvas, Tattoo Robot, created during the Tulip San Francisco Conference Event. Many in the EOS and tech community contributed to this international art collaboration.
Following these Gallery upgrades, our freelance marketplace will be released shortly after, where people will be able to order commissioned creative media, design and visual artworks. Additionally, artwork prints, merchandise and print-on-demand cool stuff from the featured artists will be available through the My pixEOS shop integration.
Finally we are already working on surprising innovative new dApps and games that will be able to utilize unique EOS (also known as non-fungible tokens (NFTs) to their full capabilities. This innovation makes digital items scarce, and will enable cross-platform use of the digital assets, bridging new gaps between the arts and gaming industries.
Staking Systems Upgrades
With all of these platform launches, the team has constantly been looking at ways to improve the token economy, and we have come to the conclusion that there is a need to tweak the staking rewards system to allow a bigger adoption of the pixEOS Platforms.
Furthermore, the community has strongly emphasized that the current passive rewards system is doing more harm than good to the overall pixEOS ecosystem. The final month of the Staking rewards is approaching and we believe that adjusting the rewards system towards the use of the platforms will benefit pixEOS in the long run.
The team has decided that the following changes will be implemented for the months of July to November:
Starting July 2019, we are dividing the 5M pixEOS daily rewards for the last month of July into 5 months, resulting in a total of 1M pixEOS distributed per day from July 1st to November 30th
Rewards will be divided into 2 categories: games and art
Game Center 500k pixEOS daily reward: daily rewards to every arcade player based on the points accumulated by playing the games in the last 24 hours (current pixEOS reward system of Arcade games will be converted into a point system)
Art Platforms 500k pixEOS daily reward: daily rewards to the platform users based on the activity of the past 24 hours, once the art platforms are fully operational (number of pixels painted in Paint FE, purchases in pixEOS gallery, merchandise bought in My pixEOS Shop, etc)
DISCLAIMER: During July, the 500k daily pixEOS rewards for the art platforms will still be distributed in the legacy staking rewards system, meaning that stakers can still passively earn pixEOS per day, even though they are in a significantly reduced amount.
After the adjusted staking rewards period ends in November, new rewards will start to be distributed, as 25% of the profits of all pixEOS platforms will go into this system, and at this stage the pixEOS user base will have grown significantly. The token utility of pixEOS is therefore very important for the whole ecosystem, so that everyone can participate and receive these rewards.
pixEOS Token Burn Framework
One of the requests of the community for the past few months is that the team would implement a token burn for pixEOS tokens, which the team is also to implement in some way or another.
We have finally been able to draw a token burn framework that we believe falls in line with the overall token economy and is centered around the core aspect of the pixEOS ecosystem, the use of the pixEOS platforms. Instead of just burning a specific portion of the supply, we will implement a token burn framework that will burn pixEOS tokens based on the volume being transacted in all of the pixEOS platforms.
The token burn will occur in the following ways:
Game Center & Other Games: 50% of the game center profit will be burned every week, which includes the revenue of its arcade games such as Blockatrix 3000, Paint Arcade, Grand Cannon and others.
Gallery & Other Art Platforms: 50% of the platform profit will be burned every week, as well as the following art platforms to be released by pixEOS.
Burning Canvases: Limited Paint Canvases will allow for a token burn of a specific amount of tokens to be determined later.
DISCLAIMER: Each burn period will have a duration of 1 month, starting in August, and have a token cap of 100 Million pixEOS tokens each time.
pixEOS Paint EOS Revamp
We always listen to the community about the suggestions and improvements that can be made on our platforms and, even though it is not simple to just implement the changes right away because we are developing a lot of platforms at the same time, we add them to the development roadmap to be implemented at certain points.
That being said, after the release of the upcoming pixEOS Art Gallery, the team will be working on revamping the current EOS pixEOS Paint canvas, with new tokenomics and a more enticing system like the one that pixEOS Paint FE currently has. We are very proud of how the pixEOS Paint FE canvas turned out and the amazing piece of art that it has become, so we want to revitalize the original canvas with new and updated tokenomics so that everyone is able to have fun painting awesome art with their EOS tokens and at the same time make money.
So watch out for the revamp of the original pixEOS Paint and the new canvas of the pixEOS Paint Flash Edition!
What will you be able to do with the pixEOS token?
Buy Rare Digital Art (NFTs) for physical and digital art in the pixEOS Gallery
Bid on Art Auctions for digital and Physical Artworks
Hire Artists for freelance commission work
Buy In-Game Boosters for the pixEOS Arcade games
Pay to Compete with other players and earn pixEOS rewards
Buy pixEOS Game Center Upgrades
Buy Rare Game Items and trade them on our marketplace
Paint on the Paint canvas and earn rewards
Try your luck on the pixEOS Reel Machine
The pixEOS team keeps working hard to deliver the mission that was attributed in our roadmap but with the flexibility the community expects for adjustments and changes to adapt to the new, transforming and growing blockchain-verse.
It is not a static universe and many things affect the development and growth of a tokenized ecosystem. We are willing to always adjust and adapt to the challenges with the notion it can change and transform in the future. Software development is a time and resource consuming activity and not all changes expected by the users can happen overnight. We are attempting and interested in meeting all expectations and will save no efforts to fit them to our post-roadmap plans. We look forward to working together with the pixEOS community to become the premier blockchain destination where games and art collide!