There were many exciting news & accomplishments in the past week. We will cover them all in this article.
It’s been 2 weeks since the launch of NovaX
7.056 Planets Minted.
33.534 Buildings upgraded.
We have 1.042 planet owners.
The total supply for our resource tokens are:
1,503,850 Solar Energy
2,794,834 Metal
525,408 Crystal
Single-page Control Center
We have successfully deployed the control center. On the control center, players can manage all their planets in one place.
By using this page, players are able to select and level up/construct buildings across all their planets with a single transaction.
Planet Leaderboard
We have successfully deployed the planet leaderboard that lists all the planets sorted by the building levels. At the top of this leaderboard, players are able to see the planet that has the highest leveled buildings on it. Currently, this leaderboard will show solar plant, metal mine, and crystal lab building levels, but in the future, as other buildings are introduced into the game, we will be updating the leaderboard too.
Wallet Balance
We are very thankful for your suggestions, we are constantly reading all your suggestions & feedback, and we are trying to implement them as soon as we can. One of those suggestions was showing the resource balance on your wallet directly on the website. At the right top corner, we introduced a view for that.
Resource Liquidity
We did initialize resource tokens with 0 total supply. The reason for this was we didn’t want to hold any liquidity as the team, we wanted these resource tokens to be only generated by planet owners.
But in the past 2 weeks, we did receive a lot of feedback about there is no liquidity on the DEXs. Even though the total supply of resource tokens was increasing, players didn’t choose to add liquidity to DEXs. On the other hand, there are players who want to sell their resource tokens, and there are players who want to buy them. But since there is no liquidity at the DEXs, there isn’t a price for the resource tokens. Currently, we can’t tell how much 1.000XSLR token worths in terms of AVAX.
As a solution to liquidity, we proposed to our community (with a poll):
Should we reserve 500 NovaX Planets from the unsold ones, and use them to generate resources & provide liquidity to a DEX.
74% of our community voted for YES, we should do it. We will be reserving 500 planets and start leveling up buildings on them tomorrow.
Although the majority of our community voted for yes, there were very reasonable concerns pointed out by some community members. We would like to answer them here.
Nearly all of them were about creating too many resources with those 500 planets. So the main concern was about causing high inflation and reduce the value of resource tokens. We can assure you that we will constantly track the liquidity on the DEXs, and if at some point there is no need for more liquidity we can always
1) Burn the extra liquidity we hold.
2) Reduce the number of planets we reserve for this cause.
This is not a step that we can’t take back. We will always be listening to our community and act when necessary.
We are also planning to partner with some DEXs and create reward liquidity pools. But for this kind of partnership, we need to provide initial liquidity to the pools(which we will be able to do with the reserved 500 planets).
Second-hand Market Stats
We passed 1,500 AVAX total sales volume. The current floor price is 2.18 on NFTrade.
Minting still continues on our website too, and the minting cost is 5 AVAX. We believe that it is not logical to sell lower than the minting cost, but again it is not us who decides the floor price, it is decided by the market conditions/planet holders.
With the upcoming update on October 17, every planet owner will be able to participate in boss fights & missions on NovaX. These features will be playable with resource tokens (not AVAX), and they will be dropping different loots. These loots will also be NFTs, and some of them will be extremely rare. So just by holding a NovaX planet and playing the game, you may earn a rare NFT for free. We believe that these features will increase the demand on NovaX planets. For more details about upcoming boss fights and missions, you can check our previous article. We will be disclosing much more in the upcoming weeks.
https://medium.com/novax/wrapping-up-the-week-403f325b5c91
Thanks
You can still mint a NovaX planet for yourself, just hit the link below to join our space adventure.
