CropBytes started long before the metaverse trend caught on. Over the years it has evolved into a crypto game like no other! The in-game economy has grown exponentially since its launch. Today the CropBytes game economy is booming with over 400k players.
CropBytes is a real-world simulation where thousands of gamers play, collect and trade in the economy at the center of which lies the CBX token. We’re all excited to start on the next phase in the evolution of the CropBytes metaverse with CBX mining.
Starting 2nd Jan 2022, CBX mining will be resumed, players will be able to burn their animal extracts for CBX tokens and use them in the game or trade them in exchanges. Mining of the token will be in rolled out two phases (off-chain), post which CBX mining will be moved on-chain.
Phase 1: CBX Mining with static logic
Phase 2: CBX Mining with dynamic logic
Phase 1 of CBX mining will resume using the deflation protocol logic, similar to Game Coin conversion (Deprecated).
Phase 2 of mining will have a dynamic algorithm that accounts for economic factors and rewards players accordingly. This is built with over 3 years of real-time game data, and thousands of simulations. The move into phase 2 of CBX mining will mean new possibilities and will be fair towards new and old players alike.
The token mining details will be displayed live on the CBX supply page. Once mining is moved on-chain, it will be visible to public explorers.
Phase 1 details
The formula for CBX mining:
Difficulty x (Extract / Conversion rate) = CBX
The formula for Difficulty:
Difficulty = (Actual produced CBX / Estimated CBX) ^ 5
Conversion rate (Extracts burn quantity) :
Extract to CBX when difficulty = 1
- 1 Power: 1 CBX
- 1 Feather: 1 CBX
- 1 Horse Hair: 1 CBX
- 2 Fur: 1 CBX
- 3 Truffles: 1 CBX
- 4 Milk: 1 CBX
- 6 Wool: 1 CBX
- 8 Eggs: 1 CBX
The conversion rate will increase by 10% every 10 weeks. The projection can be found here.
- Formula is applicable in Phase 1 of CBX mining.
- For the first 10 weeks difficulty will not go below 1.
When Difficulty = 1
(Milk x Conversion rate = 4) x Difficulty (1) ~ 4×1= 4
∴ 4 Milk = 1 CBX
When Difficulty = 0.5
(Milk x Conversion rate = 4) x Difficulty (0.5) ~ 4×0.5 = 2
∴ 2 Milk = 1 CBX
When Difficulty = 1.5
(Milk x Conversion rate = 4) x Difficulty (1.5) ~ 4×1.5= 6
∴ 6 Milk = 1 CBX
CBX Supply for Mining
From the total supply of 500M CBX tokens, 38.23% 191.1M tokens are allocated for in-game mining. The ‘Estimated CBX’ supply in the CBX mining formula refers to the unlock schedule represented in the graph below. Details of the weekly supply target can be found here.
Utility of the CBX token!
The utility of CBX is huge in the CropBytes metaverse. You can purchase packs and seeds, and can trade utilities and assets with them on the in-game exchange.
CBX holders also get access to exclusive events. The Christmas Special has over 1.5M CBX staked and over $100K worth of rewards! CBX token is available for trade on top tier exchanges and the in-game exchange. As CBX integrates with more projects and games, the utility of CBX will grow. Brace yourself for whats’s yet to come!
What’s coming next?
CBX burn for pro assets and NFTs will also be resumed. Staking and burn of CBX for assets will be introduced in the coming months.
The CropBytes metaverse is all set to explode as we get ready to welcome thousands of crypto farmers in 2022. We have a lot of exciting stuff lined up for the year. Make sure you are with us for the journey.
Telegram Channel: Subscribe
Telegram Community: Join Now
Social: Facebook, Twitter, YouTube, Instagram