Project Update, 17th of December
Dear Members!
As we already told you, big changes are coming to Gauntlet, and now is the time to inform you of some up-and-coming changes. I’m sure a lot of you are excited already to get started and participate more in our journey. The time has come to ramp things up!
We’ve been silently working away on progressing the project to another level. The first quarter of next year planned out with some exciting developments.
They are as follows:
Blockchain
As you are currently aware, we are using an outdated fork of PIVX as our current blockchain. This has presented some challenges such as implementation time, client integration and it would require additional developers.
We looked at many options, including the Ethereum and Fantom chains however Binance was the one that shined through for us. Usability, low fees and multi-faceted scalability were key factors in making the correct decision alongside the presence of smart contract capabilities. With low fees, well known dependability, a thriving ecosystem, staking, smart chain technology and an expanding array of user-types, not to mention the services attached to the chain, we were left with a resounding yes to the BSC chain. Staking will remain but masternodes will be gone however it will still be a very viable and rewarding option for Gauntlet users.
Exchanges
This has been a community wide issue for quite some time, so we are delighted to announce as soon as we generate the Gauntlet token on the BSC chain and administrate the swap, we will list on the PancakeSwap platform in January 2022. We are not stopping there; we aim to be listed also on Decenomy who recently acquired the Birake exchange. Our community will be able to buy and sell Gauntlet token on more than one exchange. A third exchange will be discussed during the middle of the first quarter also in 2022.
Swap
The swap will happen at a 1:1 ratio between GAU coins and GAU tokens.
The swap will be laid out in the following manner:
1. Users will send us their GAU coins they wish to swap to a transparent GAU address.
2. They will send an email with the TX id and an image from their wallet before sending, and they also provide us a BNB chain address where we can send the tokens.
3. Once we confirm that the transaction is successfully received, we will send GAU tokens out to the individual. This process may take a lot of time however a few people will be involved in this to ensure it doesn’t take too long.
The Swap will start on the 5th of January, and last until the 15th of February, 2022. There will be not option to Swap after that and the coins you currently hold will be of no use.
Sustainability
It’s important the Gauntlet vision set out from the start continues for many years to come and so with that in mind, sustainability needed to be ensured. We have accomplished this by using a set quota of tokens that will be dedicated to gamer rewards. 10% of all network staked tokens will automatically move to a public Gauntlet company account which will be used to reward participating gamers daily. Payouts to gamers will depend on time played and other parameters set by Gauntlet as the time draws near. So, whether its 100,000 tokens or 1000 tokens they will be distributed to gamers for that day. The value of the coin will of course depend on development, market activity and the future direction of the company.
Tournament
We will host a tournament, the very first Gauntlet one in the first quarter of 2022. We have not decided on the game or games to be played yet however the prize money will be BNB so users can do what they wish with it. They can spend it back into GAU or cash it out. We will start marketing the tournament after Christmas. Prizes will be in both BNB and GAU, the amount is yet to be established but it will be attractive enough to bring gamers in to participate. In the future we will switch to GAU prizes.
We are also interested in purchasing other metaverse projects that we may feel would complement or add to our existing vision and business model. This won’t take part until later in the annual quarters. As we will already have the client running, a gamer base and NFT marketplace, we should easily adapt other acquisitions to our audiences. We will discuss this venture further as we proceed through 2022.
Marketing/Promotion
We intend to market Gauntlet using our existing social media channels and placing paid ads in as many prominent places as possible including BTC Talk and Binance among other platforms. Referral Incentives will be put in place in order to build up a user-base more rapidly. We have introduced a single-tier referral system which will allow members to earn up to 1% of their referral GAU rewards. We will keep it as a single-tier system for the foreseeable future.
Gaming NFT Marketplace
We want to be the first token with a downloadable client that offers a Gaming NFT marketplace. Users in the ecosystem can discover, collect and sell their gaming NFT digital artwork to other users within the ecosystem and even outside it. All you need is a Gauntlet wallet and client! This NFT marketplace will be exclusive to gaming NFT’s only.
So, there you have it, let the excitement begin for 2022! Please keep an eye on any further updates before January and in the meantime folks, we wish all our members a super happy Christmas and the very best in 2022.
Rising to the future!
Gauntlet Team
