AMA Session with Yu Liang from CryptoTycoon (CTT)
Guest: Yu Liang, Co-Founder of CryptoTycoon
Host: Iris of MEXC Global
Iris: Today, we’re honored to have Yu Liang, Co-Founder of CryptoTycoon, to our community to give us a more intuitive introduction to their unique project.
Yu Liang, welcome. Would you like to say hello and introduce yourself?
Yu Liang: Sure thing, hello everyone😃. My name is Yu Liang, the Co-Founder of CryptoTycoon. I am in charge of European and North American market expansion. I’ve been in the blockchain space since 2017. Before CryptoTycoon I was working at Cheetah Mobile, Tencent Interactive Entertainment and CEX.
All the founding members of CryptoTycoon have worked in Tencent Interactive Entertainment (IEG), and have been involved in product planning and front-end operations in first-line games.
Website — https://cryptotycoon.finance/
Twitter — https://twitter.com/CryptoTycoon_GP
Medium — https://cryptotycoon-gp.medium.com/
Whitepaper — https://docs.cryptotycoon.co/
Telegram — https://t.me/CryptoTycoonCTT
PancakeSwap — https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x464863745ed3af8b9f8871f1082211c55f8f884d
MXC — https://www.mxc.com/trade/pro#CTT_USDT
JulSwap — https://julswap.com/#/swap?inputCurrency=0x464863745ed3af8b9f8871f1082211c55f8f884d
Questions about the project
Iris: What is CryptoTycoon? Can you share with us more in detail?
Yu Liang: Okay, CryptoTycoon is a light DeFi gaming platform built on Binance Smart Chain (BSC). Players can spend BNB, BUSD, USDT and other BSC tokens in the game to get a chance to participate in-game mining. The total supply of CTT is 1 million, on-chain transfers will burn 5% of its transaction amount.
Currently, we are working on 4 products at the moment. The first game will be available in 1–2 days, the first game is “⚽️Soccer Kitty”, where users can bet $BNB for their supported team to win $BNB. (Launching today or tomorrow)
The second game is called “👷♂️Monopoly Tycoon (https://docs.cryptotycoon.co/whitepapers/monopoly-tycoon)” where players can build houses in-game for in-game mining. (Coming soon before late June)
The third game is called “🐠FishSwap (https://docs.cryptotycoon.co/whitepapers/fishswap)” where players can catch different fish by using NFT (Fish Rods) for in-game mining. (Coming soon in July)
The forth product is called “NFTSwap”, where users can trade or shop NFT products of CryptoTycoon~
Iris: Could you explain how the Game works and what the player’s incentive is?
Yu Liang: Sure! Let me reveal a bit more about the games we are working on and about to launch🚀.
For 👷♂️Monopoly Tycoon:
There are currently a total of 36 grids in the game. In addition to random event grids, there are 32 grids that can build houses (mining source), including houses, shops, banks, and governments (the rarity increases from the left). For each different building built on different grids, their mining output and taxes will also be different.
The tax system in the game requires players to pay the tax for the next 72 hours within 72 hours after the building is built. If the tax is overdue, the built building will be forcibly demolished. The taxes being paid will be included in the tax pool, which will be used to distribute BNB and BUSD rewards to all active $CTT holders
For ⚽️Soccer Kitty:
Soccer Kitty is a live broadcast game that takes the Euro Cup as the live event based on Binance Smart Chain. Before the designated game starts, players can bet BNB to support their favorite team. After the supported team wins, the betting amount from the winning side will be sent to the supporters of the winning side.
In the future, Soccer Kitty will be renamed based on other sport or e-sport competitions. (ex: DOTA Kitty, Olympics Kitty…)
Players can spend BNB and BUSD drawing NFT Mystery Box for fishing rods in the game, so as to catch fish with different attributes in the fish pond. Whenever players catch the fish, players can then put the fish in their own fish ponds to get CTT mining output. At the same time, the game has a good token deflation mechanism and dividend model. Each fishing rod has its own durability, and each fish also has its own life cycle. If the player does not repair the fishing rod, it will be destroyed when the durability is 0.
The repair system is that every time the player uses the NFT fishing rod for fishing, the durability of the fishing rod will decrease. When the durability is 0, if the fishing rod is not repaired, the fishing rod cannot be used for fishing, therefore, the player needs to go to the repair store, and the cost of these repairs will enter the dividend pool, and BUSD and BNB will be distributed to the addresses holding $CTT on a regular basis.
⚠️50% of all in game revenue will be used to buy back $CTT tokens from the secondary market.
Iris: What triggers you to launch CryptoTycoon? What are some of the real-world problems/ pain points that CryptoTycoon aims to solve?
Yu Liang: CryptoTycoon is a blockchain game that deeply integrates the DeFi model. Unlike traditional games or chain games, CryptoTycoon focuses on the circulating supply of tokens and liquidity deflation in product perspective, which promotes players and investors in between, and maintains a positive value balance relationship.
That being said, CryptoTycoon is positioned to #gamify the DeFi product, thereby reducing the threshold for players to get started. At the same time, CryptoTycoon’s first release is built on the retail investor-friendly BSC blockchain, which has a good ecology and user base. Which can help the game advance in the right direction, keep iterating and updating, and provide a good motivation.
Iris: Are there any exciting news or updates with regards to CryptoTycoon that you would like to share with the users?
Yu Liang: Definitely, we’ve launched the new Website 2.0 as planned in our roadmap, which provides entrances to our games. On the other hand, as I mentioned earlier, our first game “Soccer Kitty” will be available in 1 or 2 days, where players can use $BNB to support their favourite team for the Euro Cup.
On the other hand, we already got a DEMO for Monopoly Tycoon, which we are currently testing and fixing some bugs.
Here’s a screenshot of Monopoly Tycoon DEMO.
“Monopoly Tycoon” will be available in closed-beta before late June, and there will be a whitelist for participants of the closed-beta. Participants will be rewarded with $CTT rewards. Open-beta will be launched in 1–2 weeks after closed beta where players can start the in-game mining and dividends will be received from $CTT holders.
Finally, we are going to launch several NFT at the end of this month.
Feel free to visit our Docs (https://docs.cryptotycoon.co/) for more info~
Iris: If you were to summarize your project in ONE word, what would it be? Why?
Yu Liang: That word would be “Progressive”🦾.
CryptoTycoon is a growing, innovating, and trying new thing which we believe it is a magical Light Gaming platform that deeply integrates the DeFi model based on BSC where GameFi and NFT creations happen.
What we want to do is not only one game, but a gaming platform, CTT will become the currency of our platform, and the games will be developed one after another which will have long-term empowerment for CTT🔥
Q1. Can you give a brief overview for tokonomics and token supply? Would there be any form burns and buybacks? What does that aim to achieve for you and does it include any form scarcity paths such as stake, store, or burn?
Yu Liang: CTT is the game token of CryptoTycoon, which has both functional and governance usages. The total fixed supply of $CTT is 1,000,000, and there’s a 5% burn for each transaction.
50% of all in-game revenue will be used to buy back tokens from the secondary market, and the 50% of the dividend pool will be used to reward $CTT holders
$CTT has a really strong dividend and deflation model.
There 4 ways to get CTT:
1. Players can obtain CTT from in-game mining.
2. Get CTT airdrop by participating in-game closed beta.
3. By participating in specific activities on the cooperated platforms.
4. If a player invites other players to play, 75% of the tokens spent in the game will be rebated directly.
Q2: Do you have any backers or investors on CTT?
Yu Liang: We have 16 well known investors, which mainly operate communities, CEX, and from a top rating VC list that can bring us practical help. Our backers spend most of their time with users, know the best of the market, and are willing to participate in the market with players from CryptoTycoon.
Here’s the list of our valued backers.
Q3: Has Crypto Tycoon been audited?
Yu Liang: Yes, the smart contract of $CTT token has been audited. We will also have the game audited before the closed beta.
We value the safety of our users very much.
1) All our contracts will be audited by some of the best auditing firms
2) We will be launching a bug bounty airdrop with good rewards for people to report bugs
MEXC Global: https://www.mexc.com/
Twitter: https://twitter.com/MEXC_Global , https://twitter.com/MEXC_Fans