$PLAYMATES- Passive Reward Ecosystem with a difference
Project: Redlight Node District
Project Ticker: $Playmates
Direct quote from the whitepaper:
“The Redlight Nodes system passively rewards its users through technology that allows investors to build and compound active reward systems. Through the power of NFTs, play-to-earn games, and our sustainable tokenomics, our users will have the ability to earn more income than with any other node system currently active.”
Network availability of the project:
Since the project has been built on the Avalanche Blockchain, users can use the below mentioned contract address to gain access to the project
- Avalanche Contract Address: 0x490bf3ABcAb1fB5c88533d850F2a8d6D38298465
- NFT Trader verified
Total statistics of the project NFT can be found HERE
Unique Selling Points of the Project:
- One of the most sustainable node project within the space
- Currently working as a Proof of Stake (PoS), after the launch of their P2E game, the model will start running on a hybrid of Node-as-a-Service (NaaS) & Defi-as-a-Service (DaaS)
- 100,210 Nodes created (at the time of writing this article)
- One of the most popular AVAX dApps as of March 2022
The ecosystem will support several Tier of nodes:
Currently on offer are MANSIONS & DISTRICTS. There will be a 3rd tier node- CITIES which will be released at a later date. Also the inclusion of a potential 4th Tier, in the form of Mini-Nodes (still under development).
- Staking options for $PLAYMATES holders
- The team is busy in developing their own independent blockchain (under development)
- NFT Node Club (not yet launched)
The following is applicable to DISTRICT and CITIES nodes only
- NFTs issued against the nodes, which become tradeable assets (buy and sell)
- There’s an NFT marketplace right now for VIP Club, this grants a 25% reduction on all taxes in the wallet
- P2E Game (under development)
- The Metaverse will also incorporate user node ‘endpoints’ so that the cloud based nodes will transform into real digital nodes. The endpoints will be certain locations such as bars, clubs etc. The endpoints will also host active NFTs such as their active games, loot, awards etc
- Mobile-compatible wallet (future plan)
- Numerous creative scenario yield strategies a user could employ
Project Audit Report:
The project has been audited by Coinscope. The report highlights are as follow:
No Critical, Major or High risk factors found with the project smart contract.
Factors in the Audit that the smart contracts passed in:
- ST- Stop Transactions
- OCTD- Owner Contract Tokens Drain
- OTUT- Owner Transfer User’s Tokens
- ELFM- Exceed Limit Fees Manipulation
- ULTW- Unlimited Liquidity to Team Wallet
- MT- Mint Tokens
- BT- Burn Tokens
- BC- Blacklisted Contracts
Factors in the Audit that the smart contracts was declared Minor risk in:
- L01- Public Function could be Declared External
- L02- State Variables could be Declared Constant
- L04- Conformance to Solidity Naming Conventions
- L07- Missing Events Arithmetic
Project Team & Advisors:
Although the team remains anonymous, they have been externally KYC audited — CoinScope
The current team members for the project are:
- Leo (CEO)
- Alex (CTO)
- Bailey (CMO)
- Rory (COO)
Partners & Venture Capitalist (VC) Investors:
I honestly could not come across any solid information regarding the invested Partners & VCs associated with the project.
If you do happen to know about this, please leave your information in the comments.
There’s a lot of excellent targets in their roadmap, but the one everyone is excited about is the Play to Earn (P2E) game, which would seriously increase the utility of the $PLAYMATES token beyond its current level.
Launch of our promotional group Redlight Token District on Telegram. Begin planning phase for Redlight Node District.
Launch of Redlight Node District on the Avalanche Blockchain. This is the current phase of the project.
Play to earn game with node endpoint integration through peer to peer multiplayer and NFT technology. Game is being developed by 8Bit Crypto.
A launchpad without back-breaking fees. Superior security, multi-chain compatability, assistance from inception to launch. Integrated with native staking.
- $PLAYMATES is the native token which will be used for reward payouts. Fees on the platform will be paid in $AVAX
Token distribution is as follows:
- 10% allocation for the Team
- 15% allocation towards Pre-sale
- 25% allocation for DEX Liquidity
- 50% allocation towards Rewards Pool
- No solid information regarding the vesting schedule 🚩
Node Compounding is as follow:
• Anti-Whale Feature — What this means, the more MANSIONS a user holds in their wallet, the more it would cost to buy MANSIONS. This mechanism is added to encourage users to upgrade their MANSIONS into DISTRICTS. The breakdown is as follows:
- 1–10 MANSIONS costs 20 $PLAYMATES each.
- 11–20 MANSIONS costs 25 $PLAYMATES each
- 21–40 MANSIONS cost 30 $PLAYMATES each
- 41–80 MANSIONS cost 35 $PLAYMATES each
- 81–100 MANSIONS cost 40x $PLAYMATES each
- 100+ MANSIONS cost 45x $PLAYMATES each.
Remember, when you upgrade your MANSIONS into DISTRICTS this will once again reduce the cost per MANSION creation.
Source: Redlight Node District Medium
Players will be rewarded in proportion to their level of investment within the pool. So, if the pool has a total of $100,000 worth of $PLAYMATES, deposited, and the user has put in a total of $15,000 worth of $PLAYMATES, then the proportion of the reward will be 15% for that player. Therefore, the player will receive 15% of the rewards (paid in $MIM) at the end of each cycle.
At present, it is unclear what the level of rewards will be, I am assuming they will be variable in nature and will depend on certain conditions for sure. The rewards cannot be fixed, thats for sure.
Social Media & Relevant Links:
- Twitter: https://twitter.com/RLNodeDistrict
- Discord: http://redlight.finance/#Discord
- Telegram: https://t.me/RLNodeDistrict
- YouTube: https://www.youtube.com/channel/UCQ6UKpzNeEA2nr21_aaGp4A
- Medium: http://redlight.finance/#medium
- Whitepaper: https://redlight.finance/wp-content/uploads/2022/03/Redlight-Node-District-
- Website: https://redlight.finance/
The project looks solid as far as the fundamental aspects are kept in mind. As and when the project progresses and we see a full-fldged launch of their P2E game, we will see more traction with many more CEX listings.
I am reading more about the project and trying to figure out how the whole ecosystem works. I will write more that, once I have solid information in my hand.
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