Starfish OS: a potential dark horse in the GameFi field after STEPN
At the moment, GameFi is the most popular encryption field, from Axie of Play-to-Earn, RabbitHole of Learn-to-earn to STEPN of Move-to-Earn, a new gameplay can always attract attention in a short time. Every unsuccessful GameFi project has its own reasons for being unsuccessful, but GameFi projects, which attract the attention of the market, share the same standards.
We have a hard time grasping opportunities beyond our own knowledge. When GameFi becomes a hot spot, it will often raise its threshold and prevent ordinary users from joining this track. For example, the lowest threshold of the common (ordinary, gray) version of the walker sneakers at STEPN has reached more than 1500U. Only by discovering the potential GameFi projects can we better grasp the opportunities.
Recently, Starfish OS has been favored by professional organizations in the industry, and has the potential to become a potential dark horse in the GameFi field after STEPN. Then we analyze the development potential of Starfish OS based on the three dimensions.
Starfish OS is a lightweight GameFi P2E game that uses Starfish NFT to aggregate users, KOLs, media, institutions, etc, allowing different participants to create value under consensus collaboration.
The core of the economic model is token production and consumption. Tokens, as rewards to participants, need to provide consumption scenarios to ensure that their supply and issuance are reasonable and will not fall into a circle of death.
STEPN sets up multiple application scenarios through the dual currency model, increases its consumption, sets up obstacles, reduces output, and helps the dynamic balance between additional issuance and consumption. STEPN users casting, upgrading, repairing, and synthesizing shoes requires GST, and sometimes GMT. Specifically, there are two tokens in STEPN: GST and GMT. Their functions and role are similar yet different. The supply of GST is unlimited, and players will generate GST when in single-player mode or background mode; GMT is limited (6 billion), and players can get GMT after the sneaker reaches the highest level (level 30).
In terms of output, STEPN has set a daily output limit. Players can earn a limited amount of GST and GMT per day. They can only earn up to 5 GST per day, and the number of GST earned per day has been increased to 150. One gets 5 more by upgrading their sneakers; The unlimited supply of GST may be the same as Axie’s unlimited SLP output. Once the value is greater than the new input, it will be difficult to sustain the value, which will eventually fail. At present, STEPN still has unlimited output, and the yield of interest-earning assets (shoes + gemstones) have no upper limit. In the future, when user growth is stagnant and there is no new non-investment demand, the economic system will be difficult to stabilize.
The STEPN spending total account maintain a small balance for SOL deposits and withdrawals, and the STEPN USDC pool withdrawals occasionally exceed the deposits. We can see that STEPN value is still insufficient. Once accident occurs, the number of new users cannot maintain a dynamic growth. When users throw GST too much, the currency price falls, resulting in a death cycle. STEPN gradually increase threshold, which will lower the motivation for new users to join.
GameFi holds interest-earning assets in games, which is the main way for users to achieve P2E. The interest-earning assets often determines the life cycle of GameFi. If the output mechanism cannot convert more users into value investors, it will be difficult to form consumer demand, resulting in the value outflow being greater than the input, we need new players to offset the value outflow, which is obviously unsustainable.
Starfish OS adopts the NFT output governance token model, which sets up rich application scenarios for token SFO, increases the token consumption, and constantly sets up obstacles to reduce the output, so that the additional issuance and consumption are dynamically balanced. The total supply of SFO is limited (1 billion). First of all, it is upgraded by starfish growth, accompanied by a balance between the consumption of satiety tokens and token consumption required for NFT upgrade. Secondly, institutions and media, etc. will consume a lot of tokens while exercising their own rights and interests. Finally, players also need to consume a certain amount of tokens in order to complete some reward tasks or project tasks. The above three token consumption mechanisms maintain the balance between the supply and demand of Starfish OS tokens.
User-type NFTs can collect shells to obtain token rewards after joining the game. Their starfish NFTs are accompanied by the consumption of “satiation level” and need to buy “food” to maintain their “satiation level”. When the user is insufficient in satiation, the starfish is unable to collect shells or the number of shells collected is reduced; in order to obtain more token rewards, users can “travel”, after purchasing sufficient reserve food for the starfish, they can travel to obtain upgrade experience and upgrade materials, and after reaching the upgrade standard, they can upgrade their starfish to a higher level, the shape of the starfish changes after the upgrade, and its shell production will be increased.
When the starfish is upgraded to the highest level, it can not gain experience when it travels again, but it may obtain special decorations. Special decoration, as a kind of NFT, can not only be worn on all kinds of starfish, but also can be circulated in the NFT market; if users are not satisfied with the identity of user-type starfish, they hope to get more rewards through promotion and contribute to community. If he contributes to community, he can pay tokens to the platform and KOL in the community (the tokens paid to the game will be destroyed), and upgrade his NFT to KOL NFT.
Different from user-type NFTs, although captain NFTs (KOL NFTs) can also obtain token rewards by collecting shells and obtain institutional rewards by completing tasks, they cannot further upgrade starfish. He can upgrade the starfish and get more rewards by paying tokens. The more users or the more output he has, the more he can earn.
Starfish NFT is the interest-earning asset of Starfish OS. Starfish OS adopts the NFT upgrade mechanism for developing GameFi games. On the one hand, it can reduce the weight of speculators in the entire system, giving more output incentives to their contributors and guardians. At the same time, it can also minimize the impact of strategic funds on the value impact. Starfish OS aggregates users, community KOLs, media, and institutions, allowing Starfish NFT holders to become contributors.
On the one hand, the media-exclusive Starfish NFT can link encrypted media for users and institutions, and enrich information channels. On the other hand, the accurate information services provided by encrypted media is a value investment; on the one hand, KOL exclusive Starfish NFT can satisfy influential KOLs to find high-quality projects for the community and accumulate community value. On the other hand, KOL influence is also a value investment; the Starfish KOL for institutions can not only realize resource empowerment, but also institutions will invest more resources in the platform.
The collaboration mechanism for diversity and resources based on Starfish OS user needs can reduce the speculation to a certain extent, attract diversified resources, better enhance the value, and provide basic support for the stability of the economic model.
Currently, STEPN single player mode has a daily energy cap and a daily token cap. His initial energy is 2, and as the number of sneakers increases, his highest energy can reach 20; his initial token (GST) income is 5GST/day, as the efficiency value increases, his highest income can reach 300GST/day. According to user statistics, we currently configure different shoes with a payback period of about 40–50 days. The calculation formula is as follows:
Among them, E is the player’s GST income, PSEC is the player’s sneaker efficiency coefficient, N is the energy consumption value, PSE is the player’s sneaker efficiency, parameter1, parameter2 are the range, Randbetween is a random integer within the range, and X is the average speed factor, Y is the durability factor.
From the formula, it can be seen that the GST earned by the player is related to the following factors:
1) The amount of energy consumed by the player; 2) The movement speed of the player; 3) Additional props on the sneakers; 4) The efficiency value of the sneakers; 5) The durability value; 6) The system value;
According to the current market price, we calculate the STEPN payback period as follows:
Of course, this payback cycle is based on the market prices of GST and GMT, and STEPN new users and deposits are still growing. Once a huge number of tokens is thrown, the payback cycle will be extended, which we need to pay attention to.
Next, let’s take a look at the payback cycle for Starfish OS:
Starfish NFT adopts the NFT+Token dual-cycle economic system, Starfish NFT can produce token SFO, and Starfish NFT’s daily output and level are linked. The higher the level, the higher the daily output, and the output is accompanied by the consumption of satiety. The higher the level, the lower the ratio of daily satiety consumption.
Starfish NFT issues ordinary NFTs and KOL NFTs for the community. The initial issue price of ordinary NFTs is 100U, and the initial issue price of KOL NFTs is 1000U. KOL NFTs are limited to 2000 pieces. If the price of the output token SFO increases in the later stage, the price of NFT will also increase, ensuring the dynamic balance of the NFT output rate. By adjusting the output difficulty, etc., the current cycle will be relatively stable, and the supply of governance token SFO will always remain scarce.
Player SFO Daily Earning (E) = Daily Product (P) — Daily Consume ©
E is the daily income of NFT, P is the daily output of SFO of NFT, C is the daily consumption of NFT satiety, and the consumption of satiety is related to the price of materials. Ordinary NFT has five levels. The higher the level, the higher its daily output and the shorter the payback period.
Starfish NFT estimated payback period:
Starfish OS designs travel to achieve upgrades, and grows and upgrades by collecting materials. During travel, users need to consume ingredients, and ingredients need to be purchased through SFO. Starfish NFT can only be upgraded if a certain amount of SFO is consumed. The higher the target level, the more SFOs needed to upgrade, that is, the higher the difficulty of the upgrade, the longer the time period will be, which can ensure that the number of NFTs at different levels presents a pyramid-like distribution, ensuring that long-termists of Starfish OS get more Interests.
In addition, Starfish NFT has designed material requirements for upgrades. In the future, it will adjust the supply and demand balance of Starfish NFT in the market through the probability of material acquisition, so as to avoid depreciation due to the flood of Starfish NFT. The cost of Starfish NFT upgrade is mainly related to the consumption of satiety, so what is the consumption mechanism of Starfish NFT?
The initial upper limit of Starfish NFT satiety is 100. When 20 < satiety≤100, the output is normal and the user can travel; when 0< satiety≤20, the output is halved and the user cannot travel; when satiety= 0, the output stops and the user cannot travel. To reactivate the satiety, the user needs to pay 100SFO. During the trip, the consumption of satiety becomes faster and faster. The higher the Starfish NFT level, the lower the consumption of satiety. The calculation formula is as follows:
Regular satiety consumption rate (points/H)=daily output tokens * daily consumption rate/24/food benchmark price
Travel satiety consumption rate (points/H) = regular satiety consumption rate (points/H) * travel satiety consumption multiple. The higher the Starfish NFT level, the lower the travel satiety consumption multiple.
From the periodic table of Starfish NFTs, we see that when ordinary NFTs reach the fifth level, they can be upgraded to KOL NFTs. Users who hold KOL NFT can increase the speed of NFT output by inviting users to obtain more income. The following conditions are required for ordinary user NFT to upgrade to KOL NFT:
1. User is upgraded to Level 5
2. Recommend 10 players
In order to collect market community resources, the first batch of KOL NFTs can be reserved for limited sales. If users have rich community resources, they can directly subscribe for KOL NFT through the subscription method. KOL NFT benefits are as follows:
KOL NFT income S (SFO) = fixed level income SL + consensus weighted income SC
Fixed level income SL = NFT level L * mining coefficient K
Consensus weighted income SC = network-wide consensus value index C* consensus level coefficient R* number of invitees N/total network users M
The StarFish revenue calculation model is based on big data and artificial intelligence, which is convenient for the community to understand and does not represent the actual value.
From the perspective of the community, it can be seen that the income of KOL mainly has two parts, one is the fixed level income, in which the mining coefficient K is the unified KOL production rate of the platform, this part depends on the level of the KOL, not Influenced by other KOLs on the platform.
On the other hand, according to the weighted calculation of the total value of the consensus of the whole network, the consensus income of a single KOL is calculated. The consensus value index C of the whole network is positively related to the activation number of invitation codes in the whole network. The higher it is, the larger the consensus value index C is, and the more profit is given to a specific KOL on average; the consensus level coefficient R is positively correlated with the KOL level, and the more KOL inviters, the higher the consensus profit. For KOL, the consensus of the entire network will generate value gains whether it is in series or in parallel.
According to the above income model, KOL NFT income is estimated as follows:
From the above table, it can be seen that the payback period of Starfish KOL NFT is greatly reduced compared to that of ordinary user NFT, which motivates the encryption community to join the Starfish OS ecosystem. In the past, GameFi only provided incentives for players and lacked value incentives for influential KOLs in the community. In this way, Starfish OS can also attract more encrypted communities, creating the scarcity and value-added potential for Starfish NFT.
In order to intuitively show the income of Starfish NFT, we combined the output/consumption values to calculate the return on investment under different proportioning scheme:
Starfish NFT output and consumption form a closed loop, which can better accumulate value. Compared with STEPN, it has a shorter payback period, and its satiety consumption mechanism in the process of output and upgrade can restrain SFO inflation and realize the relative scarcity of SFO. At the same time, it can add value to SFO. If it is upgraded to KOL NFT, it can enjoy the benefits of community commission, which greatly reduces the return period.
Through the above data, we can see that Starfish NFT has great potential for value-added through invitations, etc., the level of Starfish NFT can be improved, so as to obtain the rights and interests brought by Starfish NFT, also obtain the governance token SFO reward to achieve multiple benefits. The future value-added potential is worth looking forward to, not just for the return of capital.
Sustainability is the core competitiveness of the project, which means that the project has the potential to become a mainstream project and can achieve the goal of a fully decentralized community. Therefore, we chose this project due to its sustainability.
STEPN limits the daily time for users. By recovering limited energy every day, the peak-end law is used to ensure that the rewards of limited exercise time are maximized, which prevents them from becoming bored with the game after excessive gaming and maintains user loyalty. The STEPN energy bar can store up to 24 hours of energy. If the user does not exercise in time, the extra energy will be wasted. We use this short- and medium-term reward of consuming energy to get token rewards to help players develop a daily exercise habit.
Starfish OS maintains user activity through the starfish satiety output rate, which decays with time. If it is not fed in time, it will affect the SFO output. In addition, in order to supplement the satiety, users need to consume SFO. Starfish OS also earns SFO through M2E (Mission To Earn), S2E (Share To Earn), L2E (Learn To Earn), etc., to increase user loyalty, while maintaining The output and consumption of SFO are balanced.
STEPN users can achieve the goal of repayment, and at the same time, they will also develop the habit of daily exercise. They keep exercising, accomplishing longer-term goals, rather than ending the game by selling shoes right away. The game also includes an upgrade mechanism and a gem mechanism to increase user revenue and enhance user loyalty. In addition, we have not yet launched the functions (rental system, badge system), giving users more expectations.
Starfish OS continues to inject new value into the platform through aggregated utility. In the future, Starfish OS will open the data interface to share user data, which is no longer a simple user address, but high-level accurate user data of the user’s “portrait”. On-chain user data is the core competitiveness of crypto projects, and the retention rate of on-chain data determines the sustainability of crypto projects. Starfish OS is positioned to attract professional communities, media and institutions and avoid homogeneous competition.
Due to the increase in the number of Starfish OS players, the price of the game’s satiety food and the “travel” reserve food has been increased, and the governance token SFO is not unlimited. Starfish NFT tokens will follow the principle of less output in the mining pool for rewards; for a single player, the mining pool balance will be reduced to 80%, and the output will be reduced accordingly when the mining pool is not output. 80%; until the final mining pool balance is reduced to 50% and below, its output is at least 50%, which can shape the scarcity of SFO and gradually achieve a balance.
In the long run, as a consensus collaboration platform for developing GameFi games, Starfish OS has received support from institutions, media, and community KOLs, and will inevitably attract various roles and resources. Starfish OS will certainly break a lot of The short-lived fate of the GameFi project has become a long-lived GameFi project.
We consider the three dimensions of GameFi project through its economic model, payback period and sustainability. At present, STEPN may be a good project, and its Move-To-Earn rental model is also worth looking forward to. However, the STEPN has passed its early stage, and now we have entered a relatively stable period. The sports shoes are too expensive and the GMT price that has increased too much, which also means that STEPN has passed its dividend period. Although we still have short-term opportunities, the risks are very high.
Compared with STEPN, economic model, payback cycle, and sustainability of Starfish OS are still competitive. At present, it is still in the early stage, and its GameFi gameplay also enjoys early dividends. Starfish OS may become a potential dark horse in the GameFi field after STEPN.