Winding Down the Project

Well thank you for your patience on this update, there have been a number of things that have cause some delay in this one, partially because of the possible change of plans which we’ll outline below, and then because there have been a number of unfortunate personal circumstances that have slowed down the prep of this update and the accompanying proposal.

Winding Down

Well it’s been a long and complicated road with this project trying to bring it to fruition and realize it’s potential. And I’ve really tried to keep it alive, and realize the dream we originally had in the beginning of a compelling and fun 100% on-chain gaming platform.

But it has been strongly suggested by a number of our backers that the time has come to throw in the towel, and shut down the project.

As I’m ultimately serving the backers of this project who made it possible in the first place, I’m forced to re-evaluate the plan going forward.

We have reviewed the current status, budget, and what would be required to do this wind-down in a fair and appropriate manner, and have come up with a plan.

Now this is only a proposal. At this point the wind-down of the project is not set in stone, but as it’s been suggested by backers, we must take it very seriously. We will be holding a vote which due to the implications of the outcome we will run for longer than usual. This vote will be to decide if we wind down, or push on. With the wind-down being done according to the plan outlined below.

Voting on the fate of the project

Before we get into the proposed plan for wind-down, I will outline exactly how the vote will work, and what to expect.

The vote will occur in a couple steps:

1. We will give some time following this announcement, to ensure there has been ample opportunity for any original backers of the project to be aware of the vote
2. We will run the vote as we have previous votes. From the bot on Discord. The bot is able to weight votes based on your original contribution. The vote will have 2 options:
   A) Vote to wind down the project as has been proposed (and is outlined according to the plan below)
   B) Vote to continue the project, in which case work will resume following the conclusion of the vote
   The vote will begin September 1st 2023 midnight UTC
   The vote will run until November 30th 2023 midnight UTC, allowing 3 months for voting.
3. I will cast a single share worth of voting as a default vote, this default position will win in the event no further participation occurs, but is such a tiny amount as to not influence the outcome at all if other backers do vote.
4. If for some reason there is a tie (this should be extremely unlikely, but it is possible). Then the tie will be broken in the direction of the default vote.
5. My default vote will be in favor of winding down the project according to the plan outlined below.

Upon conclusion of the vote in Nov 30th, we will announce the results, and immediately proceed with the winning outcome.

Summary of The Proposed Wind-Down Plan

The proposal to wind-down the project required a lot of planning to ensure we are acting fairly, and without any risks/liability etc. If we want to wind down the project, this is the way it must be done, this is why we aren’t offering multiple options on how it goes.

To quickly summarize the plan:

• We will release any and all code/assets as open-source on github at the conclusion of the project.
• Each original backer backed via one or more transactions from an Ethereum Address back when the project was launched. This amount, out of the total amount raised back at the project launch, is their share or stake in the project.
• We will be taking the remaining funds in the project wallet, and dividing it up based on the individual share of each backer. So the backer will receive a share of the remaining funds based on their share in the original launch.
• A backer can claim their share by signing a message using the original address they used to back the project. Because we have no identity information for backers, this is the ONLY way we have to verify ownership.
• A backer will be immediately sent their share of the remaining funds once they have confirmed their claim, and provided an address they wish the funds sent to
• We will allow 1 year for backers to claim their share, after which everything will be shut down, and the team will retain any remaining funds in the project wallet.

Detailed Wind-Down Plan

If the vote succeeds to wind the project down, we will first release all assets and code to-date as open-source in whatever unfinished state it is in via github. The existing tokens and contracts will remain in effect, and live. If the community decides to carry on and make something of the project that is both supported and encouraged. But that is entirely up to the community at that point. As a result, value of existing tokens, is entirely dependent on any further development of the project in that direction.

Additionally, immediately after the vote succeeds, we will release details of exactly how a claim can be made for a share of the remaining funds in the project wallet.

Calculating Shares

The share of the remaining funds that a backer is entitled to is determined by their total share in the original launch contributions of the project.

This means if we raised a total of 731.908ETH (which is the actual amount we raised), and you as a backer contributed 50ETH, then you are entitled to 6.83% (approx) of the remaining funds in the project wallet. This information we have on-file from the original launch of the project. We have a list of all backer Ethereum Addresses, and the amount contributed. If you are curious of your share, you are welcome to request this information from us via the Discord. As this info is also public record (on the blockchain) there is no privacy concern, so we will gladly share the info. We may even post a google sheet summarizing the shares of each address.

The remaining balance of the Project Wallet at this time (after deduction of final operating expenses to carry through to the end of 2024) is 76.825ETH. So this is the amount that the claims will be calculated against. So to carry on the above example, if you contributed 50ETH originally, your share is 6.83% or approximately 5.24ETH as a pay-out.

Claims Process

To make a claim, the backer will need to use the private keys from the ORIGINAL wallet address they used to back the project. This is the ONLY way we are able to verify backers, as we don’t have any other means to verify identity. So unfortunately this is the only way we can support verification of a claim!

Specifically, a message will need to be sent to a specific email address, which must contain some specific info such as:

• The Ethereum Address the original backer contribution came from (we have this info on-file as well, but we are adding it for completion of the claim)
• The amount of the original contribution (again, we have this on file, and it’s public record on-chain, but we are including it for completion)
• The Ethereum Address the backer wants the payout sent to
• A statement that they fully support the wind-down of the project, and release the battledrome team from all responsibility or further liabity related to the project

This overall message will then be signed using the Ethereum Addresses private key, and sent via email to the appropriate claims email address.

Upon reciept, we will respond with either acceptance of the claim, or rejection. In the event of rejection, we will explain why the claim is rejected (ie: the info in the claim is not valid, or some info is missing, etc). At which point the backer can re-submit.

Upon acceptance of a claim, a payment will be made within 7 days of acceptance of the claim, to the address provided within the claim, which concludes the transaction.

Timeline

The Claims Process will be kept open for a period of 12 months, ending Nov 30th 2024. This will provide AMPLE time for any backers to submit a claim and get their share of the remaining funds.

Following this date, all servers, systems, services, emails, domains, etc will be shut down, or allowed to expire. All further support of the project in any official capacity will cease. And the claims process will no longer be possible.

Active Claims which have been submitted prior to cut-off, but have not yet been accepted at the time of cut-off, will be provided an additional 30 day grace to bring their claim to an approved status, after which they will forfeit their claim.

Final Termination of the Project

As of Jan 1st 2025, any remaining un-claimed funds in the project wallet at that time will be considered the property of the project team from that point forward.

This timeline is the reason we have included overhead and operating expenses through to the end of 2024. This had to be deducted up-front in order to have a fixed amount from which claims can be made, while still ensuring ample time for claims to be made.

Conclusion

While it saddens me that we are considering taking this path, at the same time the project has been a strain. And I admit it’s dragged on far longer than anyone wanted.

We poineered the concept of On-Chain gaming, and as a result suffered from an immature ecosystem, and technical strains, along with other challenges life threw our way during the project.

In that time, the blockchain and Crypto ecosystem has grown and flourished, and on-chain gaming is a serious market now. I’d like to think some of the ideas we tried to pioneer with BattleDrome helped contribute to that.

It’s also good to realize that since the value of Ether has climbed so much during the life of this project (nearly 10x) that those who contributed are essentially getting almost their full original investment back (when valued in fiat currency at least).

Hopefully the code we’ve written, and the tokens and contracts we’ve created can be carried forward by the community, and turned into something exciting still.

As always if you have any questions, pop onto our Discord and we’ll be happy to answer them.

Further news of the start of voting, and ability to query the bot on voting status will all exist there.

Thanks again for your support and patience, during this wild ride.

I’m eager to find out what the vote results are, move onto whatever fate may hold.