Update on Alpha Rewards and IDO/IEO Listing
Operatives,
Since our closed Alpha launched on April 14th 2022 (or is it 2048?), we have been blown away by the levels of engagement and feedback from around the world.
The purpose of a closed Alpha is twofold. Firstly, it allows us to test the game in the real world, with real players. This provides us with valuable data that we can use to improve the game, gather feedback and perhaps most importantly; to harden our roadmap and game economy plans.
Secondly, the closed Alpha is our opportunity to lay the foundation and build a community of people who love the project and are in it for the long run. Rewarding the community is our way of thanking you for your contribution to the revolution.
You have probably heard this before, but it bears repeating again, the DEFY team are in this for the long run. We are working on a timeline beyond just a couple of months or years — crafting a multi-year story arc to go along with our gameplay lore. What we have rolled out thus far is merely the tip of the iceberg. Every day we re-focus ourselves on our guiding mission. To build a game that is fun to play at its core, with an incredible narrative, supported by a platform that harnesses the creativity of our community and enables collaboration amongst you — the players.
Market conditions be damned — we are committed to this mission and cannot do it without your support.
Plans for $DEFY earned during Alpha
Many of you have asked for more details on our token launch and the rewards you have earned in the closed Alpha. In considering this plan, we have looked at two main considerations:
- Rewarding our early adopters in a fair way commensurate with the contribution
- Long term stability of our game economy
The $DEFY tokens you earn during the Alpha will be distributed in the following ways:
- Airdropped to the wallet holding your NFT Virtual Private Mask
- *These tokens will be vested and unlocked over four periods based on the end date of each mission, starting with $DEFY earned from Mission 1 emitting four months after the Token Generation Event (TGE).
Example: Mission 2 ended 15 days after Mission 1, therefore the second token unlock will happen 15 days after the first token unlock. If Mission 3 lasts for 30 days, then the third token unlock will happen 30 days after the second unlock. The same concept applies for Mission 4.
*We reserve the right to include additional gradual vesting if we deem it beneficial for the community and token, which will be announced before TGE if required.
In addition to the above, we will be providing utility to your $DEFY tokens prior to the completion of the vesting period including, but not limited to the following:
- Purchasing NFT Invites for future NFT mints, with the same 10% commission structure as our Genesis mint. These NFT Invites can also be traded on the secondary market.
- Spending $DEFY to level up your masks and increase their earning capabilities.
- Spending $DEFY to purchase new in-game assets such as drones, loot boxes and weapons, some of which will be NFTs.
The vesting period of your $DEFY tokens gives us time to:
- Release new features and platforms, thereby increasing utility of the token.
- Radically increase the user base of the game and therefore increasing demand.
- Conduct a successful token launch and work towards price stability.
Post-Alpha, Beta* and token launch, any tokens you earn in the official V1 launch of the game will be unlocked at the time of earning. The leveled up Genesis masks you hold will have the greatest earning potential in V1.
*Beta rewards are intended to be rolled out similar to Alpha
It is important to note the tokens received by the DEFY team are locked up for 24 months from TGE. Our investors have a lock up ranging from 12 months to 18 months, including our largest investor Animoca and related parties.
Plans for IDO and IEO
We are aware of the delays that have happened with our IDO and IEO plans thus far. Unfortunately, the market for both existing and initial offerings are terrible in this period, and whilst we know this is a great time to further build out our game, it is a tricky time to list a token that can actually last. We are aiming to launch as soon as practical to ensure a successful launch that benefits our community of gamers, creators, and investors, while avoiding a failed listing.
We will make an official announcement as soon as these plans are finalized, however as of now we cannot provide a fixed date range yet. Suffice to say that we are in communication with at least ten exchanges (including various tier 1 exchanges), some of which have already offered concrete listing plans and none have said ‘no’.
It is worth noting that exchanges have drastically changed their risk parameters for new token issuance with the current market situation (understandably so!), which influences both timing cost and the price that we list. Therefore, rather than hobble together a plan and rushing to the first reputable exchange that offers us a listing, please know we are exploring all possibilities and will let you know when a concrete plan has been formed that serves our vibrant community. Do also note we are not able to share the names of the exchanges we are in talks with as the nature of conversations are confidential until negotiated.
We thank you for your continued support. You are early, and we appreciate each and every one of you. With your support, we are confident of achieving our mission and look forward to continuing to surprise and delight you with new features and game play modes.
Other Frequently Asked Questions
Will Alpha rewards still be airdropped into the wallet if it no longer holds the mask that was used to obtain the rewards?
Yes. Both Mission 1 and 2 have had their snapshot taken for the Leaderboards bonus rewards, while your daily $DEFY earned from pledging FCOIN will be airdropped to the wallet that your mask(s) was connected to at the time of pledging.
How will a user be rewarded if they transferred the same mask across multiple wallets to earn $DEFY at different periods of time?
The $DEFY rewards will be sent to the wallet linked to the Operative account at the point of the airdrop. This means you can change wallets and receive your rewards to the newest/latest one.
Will FCOIN, Wallets, and Leaderboards be reset at the end of Mission 3?
No. We do not have any plans to reset them thus they will roll over to Mission 4.
Why is there no end date set for Mission 3?
We are keeping it open for now as we would like to use this time to prioritize improving the app based on existing feedback received, as well as roll out new features. An announcement will be made in advance when there is an official end date for Mission 3.
When can we expect to see drones in-game?
Definitely much sooner than beta is all we can say for now!
About DEFY Labs
DEFY Labs is passionate about building the next generation tools and platforms that allow users to view and interact with NFTs and other digital collectibles in the real world. DEFY Labs’ vision of the metaverse is one that involves merging the virtual and physical worlds in a compelling and inspiring way.
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