May 9, 2022

6 min read

$PLAYMATES- Passive Reward Ecosystem with a difference

#CoinDCXpathbreaker

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

KYC Certificate for Red Light Node District

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.

Project Roadmap:

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.

Project Tokenomics:

$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

Player Rewards

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/

Conclusion

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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