Intergalactic Gaming Progress Report: January 2021
After a hugely successful first year in public beta development, we conclude the first month of the new year just as motivated to building upon the excellent foundations our team worked so hard to establish in 2020.
This year, our objective remain the same; to continue expanding IGGalaxy by attracting teams and gamers to participate in our next-generation tokenised esports platform. As IGGalaxy evolves during the course of the year, we will relentlessly work towards the deployment of an array of features that aim to provide value to our growing community.
We look forward to introducing more gamers to the new world of blockchain technology and providing an avenue for adoption of cryptocurrencies.
Join us as we reflect on the progress we made in January!
Listed exchanges for IG Gold (IGG)
IGG is currently available to trade on UniSwap and Dfyn, decentralised exchanges that exist on Ethereum and Matic Network, respectively.
Decentralised exchanges like UniSwap and Dfyn provide crypto communities with unique opportunities to acquire cryptocurrencies. As automated market makers, these exchanges provide anyone with the ability to earn a share of trading fees collected, proportionate to the amount of liquidity provided. This is usually in addition to rewards provided as liquidity mining incentives.
IGGalaxy liquidity programme: Earn IGG & ORB for providing liquidity!
The purpose of our liquidity mining incentive programme is to encourage the provision of liquidity for specified IGG trading pairs, which is essential to grow the usage and volume of the IGG token itself, particularly as we seek further exchanges listings.
This incentive programme offers IGG and ORB rewards in addition to the fees collected from providing liquidity.
Our liquidity incentive programme will remain in effect for the foreseeable future, however will not continue indefinitely.
All wallets that contribute the required amount of liquidity to the specified trading pairs are recorded by our database. The database then calculates and distributes IGG and ORB rewards proportionately to eligible wallets based on the amount of liquidity provided and the duration it is in the pool.
Rewards for both the UniSwap and Dfyn liquidity mining pools are distributed via Matic Network within three days of the reward period concluding.
This liquidity programme will inevitably:
- bring valuable exposure to our IGG token as we seek to attract more holders from the wider crypto space;
- create buying demand, where IGG is purchased with the aim of ‘farming’ IGG, ORB and other rewards;
- make it more profitable to own a share of the liquidity pool as liquidity providers earn a share of the 0.3% fee for swapping tokens on UniSwap, as well as receiving liquidity rewards.
Matic validator: Delegate your MATIC tokens to IGGalaxy!
From Sunday 28 February, you’ll no longer be able to stake your MATIC tokens to the Matic Foundation’s nodes. For those currently delegating to Matic Foundation nodes, you must re-delegate your staked MATIC to public validators to be eligible for staking rewards.
IGGalaxy has undeniably demonstrated its ability to attract wide audiences and offer a seamless channel of adoption for those with very little, if any, experience of crypto-assets.
We had previously outlined that we would be transitioning to the third phase of our community reward plan from 1 February 2021, retaining 10% of commission; however, recognising that the cost of gas fees are particularly high at the moment, we have decided to extend this. Therefore, if you delegate your staked MATIC to IGGalaxy, you will receive 95% of rewards until Sunday 28 February 2021, and then 90% thereafter.
If you hold MATIC tokens, we recommend that you read further why you should stake and delegate your MATIC to our IGGalaxy validator node, which also includes guidance of how you can do so!
IGGalaxy x Esports ecosystem
To better understand the needs and wants of our gaming community, Josh and Naeem, co-founders of IGGalaxy, have been in contact with hundreds of gamers — our target market — that have signed up to IGGalaxy to ask for feedback of their experiences of the platform. Furthermore, it also granted the opportunity to better understand evolving needs and frustrations of gamers.
The majority of gamers that have been initially contacted are those whom had signed up to IGGalaxy once only. The feedback was been incredibly insightful, with a large portion stating that it was because they did not know when IGGalaxy esports tournaments were held.
We also asked about motivations for signing up to the platform — either social, competitive or reward incentives — as well as what features they felt were important for the platform to have. IGGalaxy is built by gamers, for gamers, and therefore we recognise that future development must be executed with gamers’ wants at the centre.
If you’re a frequent, occasional or new user of IGGalaxy, then we encourage you to leave your feedback to help us not only improve, but to establish IGGalaxy as the competitive gaming platform for gamers!
New tournament schedule
We have recently optimised our IGGalaxy daily esports tournament schedule to bring a more consistent format to IGGalaxy participants.
The new format for IGGalaxy esports tournaments will see a six-week schedule listed for each region consisting of two schedules that will alternate on a weekly basis: “Week A” and “Week B”.
Each regional schedule will be posted to IGNews and our IGGalaxy Medium publication and then subsequently shared across our social media channels.
IGGalaxy platform developments
A large portion of development time at the back-end of last year was directed towards building a development environment that enabled efficient internal and external collaboration, while providing streamline onboarding of developers. In January, we made tremendous progress with this, integrating the ability for automated builds, a permission system and finalising the complete compartmentalisation of the current infrastructure.
Guardians of IGGalaxy
Our developers concluded the first version of our social competitive gaming admin panel last month, putting a greater degree of control into the hands of our growing pool of moderators. This component will play an important role in providing efficient tournaments for competition organisers, particularly ahead of the upcoming release of IGGalaxy’s Tournament Creation Module (TCM).
The admin panel will operate on a permission-based tiering system of primarily three tiers:
- Guardian Tier 1
- Guardian Tier 2
- Guardian Tier 3
Each tier will include permissions that can be either added or edited by core IGGalaxy staff, enabling Tier 3 Guardians with a greater level of functionality to assist with the moderation of IGGalaxy.
The IGGalaxy admin panel will primarily consist of the following components:
- Tournament stats
- Player History
- User name history
- Tournaments played
- Rewards received
Update user information
- Gaming usernames
Tournament Creation Module (TCM) v1.1
Alongside the completion of the first version of our IGGalaxy admin panel, we will also shortly initiate the rollout of the TCM v1.1, giving selected admins and partners the ability test and provide feedback on the feature.
- Original IGG supply: 50,000,000,000
- Total IGG supply: 48,132,126,676.842
- Current circulating supply (max. circulating supply minus IGG stored in IGLabs ‘power capsules’ and liquidity pools): 5,496,954,114 ($1,096,477)
- Max. circulating supply (market cap): 18,388,139,249 ($3,667,882)
- Total IGG burned: 1,867,873,323.158
- IGG to be burned so far: 76,851,569*
- Total IGG in UniSwap IGG/ETH liquidity pool: 152,936,462
- Total IGG in Dfyn IGG/MATIC liquidity pool: 85,305,715
- Original ORB supply: 1,000,000,000
- Total ORB supply: 772,052,067.03
- ORB circulating supply: 772,052,067.03
- IGG currently stored in IGLabs ‘power capsules’: 12,652,942,958.884000
- Cumulative IGG stored in IGLabs ‘power capsules’: 210,570,468,068.003794
- Total IGG burned from IGLabs: 421,984,774.595186
- Total ORB burned: 227,947,932.97
- ORB to be burned so far: 8,739,400*
*Since migrating to MATIC Network, all token burns must be carried out on the root chain (Ethereum). Therefore, we will be carrying out quarterly burns of IGG (IGLabs fees) and ORB (50% of what we buy).
IGGalaxy is back on Medium!
We migrated the majority of content away from Medium this time last year, after deciding use the ‘Latest News’ section of IGGalaxy as our primary communications outlet. IGNews has served as a vital source of information to our ever-growing community. Whilst the written content published in IGNews has organically increased our SEO presence, growing our online presence is essential if we are to continue to attract competitive gamers to IGGalaxy.
To that end, IGGalaxy has now returned to Medium, which will now see written content uploaded to both IGGalaxy and Medium, with the aim of using the established publishing platform to enhance our own IGNews and overall SEO presence.
Hold JUICE and PRO tokens in your IGWallet!
You can now store, send and receive JUICE and PRO tokens in IGGalaxy!
Telegram Q&A with Router Protocol
We had a special guest join us in our Telegram channel last month as Ramani Ramachandran fielded questions related to Router Protocol, an emerging DeFi project that is positioning itself as the best cross-chain liquidity aggregator!
If you missed the Telegram Q&A with Ramani, then not to worry — we’ve uploaded the full transcript.
2021: The year of IGGalaxy
Last year, we ended the year greatly exceeding our expectations; this year, we will go further.
Heading into our public beta, we conservatively forecasted 50,000 IGGalaxy signups by the end of 2020. This forecast was on the basis of our understanding that IGGalaxy is in early beta, and we would be carrying out significant testing and optimisation of our core infrastructure. As our 2020 end of year report highlighted, we surpassed this.
Having demonstrated IGGalaxy’s ability to attract users, this year the focus is on the expansion of IGGalaxy’s global community through the deployment of features that enhance engagement and ‘stickiness’. In addition to this, we will begin implementing our monetisation strategy.
We are completely committed to providing a new and exciting environment for gamers to come together and participate in a disruptive tokenised esports economy. If you’ve recently come across IGGalaxy and want to know more, then we invite you to take a look at some key IGGalaxy resources:
To keep up to date with developments, please follow us on our various social media channels: