We are thrilled to introduce a major improvement to our CBX Mining system.
Just as it gets harder to mine gold or Bitcoin as the supply increases, we’re taking a similar approach with CBX Mining, making it more dynamic and realistic. Now, your CBX mining process will involve an added dimension – ‘Refining Time’
In the real world, we can’t mine gold ‘today’ and have the final product ready for sale on the same day. We’re incorporating this same principle into CBX mining. By introducing a ‘Refining Time’ factor, the mining process becomes more like real-world mining scenarios. This change also ensures the sustained value of CBX and stability for our game economy.
Our experts have been monitoring the CBX token movement over the past 1.5 years. The CBX token lacks support when the price starts to grow. Why? This is because the creation of CBX through mining is instant so it is very easy to mine and sell in the market. Hence there is no price support for CBX.
Based on years of data, we have observed that farmers often seize arbitrage opportunities by converting extracts to CBX and selling them instantly in the market. Although a smart move, this could affect the long-term sustainability of the game.
By adding time as a factor, mining instantly will not be possible and will help support the price during rallies.
This minor change will allow for a situation in which we will be able to see support for CBX when there is a positive price movement. Our approach is similar to game tokens such as SLP (Axie Infinity), but with a crucial difference. We’ve created a system-level logic that helps avoid inflation or oversupply, ensuring the value of your hard-earned CBX is protected.
Moreover, your voices have been heard. A survey conducted within our community revealed that the majority of you would prefer to put in more ‘work’ to complete mining tasks instead of spending more. Our CBX Mining changes reflect this sentiment and protect the interests of our long-term CBX holders against day trading.
We see economics as an iterative process. Adjustments and improvements are inevitable and necessary for the long-term sustainability of our CropBytes economy.
We also saw this same goal for which the Ethereum team changed the logic for ETH mining.
These changes to CBX mining will contribute to the Tegronomics framework. With the data and experience coming from CropBytes, the team at Tegro aims to provide a free and open-source framework for game developers to build sustainable web3 games.
CropBytes is pioneering the future of sustainable web3 gaming, and you are a part of this journey. We are excited about this new phase and can’t wait to hear about your experience with it.
As always, we appreciate your support and understanding. Let’s keep farming, and let’s continue to build a thriving CropBytes universe together!
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