TRACER Introduces — The Most Sustainable Move & Earn On Web3
TRACER is the first sustainable Move-and-Earn Web3 wellness app with social-Fi and game-Fi elements. Here, TRACER team introduces more about the project and shares their insights on where they are and will be heading.
Introduce TRACER and the team. What are some strengths and specialties of TRACER?
TRACER team’s vision is to build an everlasting M2E model on web3.
Movement or walking for at least 5~10 minutes is something everyone does every single day. The concept of daily movement combined with monetary incentives has been a successful model in many countries since web2. On web3, starting from STEPN being a game changer, many teams started to build M2E dapps but a crucial problem of M2Es is not yet solved: the problem of unsustainable tokenomics.
Team TRACER decided to innovate the M2E market by solving the unsustainability problem that most P2E and M2E projects have, and building the most ‘sustainable’ M2E project on web3. Team TRACER’s strength comes from sincerity to health and sustainable web3. The founding members of team TRACER consist of a former healthcare startup founder and several builders from the best universities and web2 startups in KR such as Class101, VoyagerX, Contents Technologies, Riiid,..etc. We believe that health is the most valuable, but a depreciable asset of human beings. Even so, it’s hard to imagine until you turn 60+ that your health will deteriorate, and this is why most of the population of our generation never walk but ride, never go to eat but order, and never stand but lay.
To make the world a healthier place, the founders of TRACER previously made web2 apps to make people exercise by giving motivational incentives. What we learned from this experience was that, in order to get people to create healthy habits, it is necessary to stimulate a short-term reward system (the mesocorticolimbic circuit of the human brain) since health is always a very distant topic of interest. Among all the incentivizing structures, giving monetary incentives performed the best in making the reward circuit the strongest. This is why we believe healthcare connected to web3 is the best match since web3 is all about incentive-aligning where users or community is mostly driven by incentives based on token economics.
Because team TRACER is most sincere in making healthy habits on web3 for a long period of time, we focus mostly on ‘sustainability’. We do not make a ponzi scheme by offering high yields to all the newbies or giving out an uncontrollable supply of tokens or NFTs that leads to hyperinflation.
Speaking about “Sustainability”, how would you define sustainability in Web3/NFT projects?
We started TRACER before the winter came. Even though, unlike others, we focused on sustainability from the beginning. As a coincidence, the crypto winter has come, and now the word ‘sustainability’ has become a very important topic for M2E, and P2Es.
Sustainability cannot be defined simply. It is one of the most complex but important concepts of all web3 and yet difficult to accomplish. Nevertheless, TRACER defines the sustainability of a web3 simply… a dapp lasting or growing for more than 3~5+ years. Sounds simple but it is difficult. Most P2E games and dapps do not last for more than a year. Then how can we make a sustainable project?
Sustainable growth of M2E(or dapps) is made by a harmony of the following elements:
1) Steady user growth: the community has to grow, and people must use it just like any other web2 apps
2) NFT’s minimum floor price: when the NFT floor price drops, fear grows in the community, but if there is a min price, supporters do not leave the protocol
3) Low volatility of utility token: a sudden high increase in utility token price also means a potential drop in token price. When this happens, fear grows in the community.
4) Value creation and exchange: a service should provide value to users and to obtain that value, users spend time or money that can create a healthy cash flow to the service, which makes a circuit of value exchange that can grow at a steady pace.
5) Non-Ponzi scheme: there is never an infinite amount of new influx to any system, so a system made upon an assumption of more new influx, breaks apart faster than anything
Sustainability is not just important for a single team or product; it has to be made from a macro perspective so that the web3 market can grow more and more web2 users can onboard safely. We are not just dreaming a short, sweet dream. We have to make the dream of web3 come true, in a more trustworthy manner. We cannot force the non-crypto natives to trust crypto or web3, we all have to make sustainability and stability in a macro perspective to get out of the shade. That moment will be the moment where the innovation of blockchain and web3 can truly give a big impact on the world by leveling efficiency and transparency.
What is it about TRACER that leads it to a sustainable project?
As we defined sustainability above, the aspects of TRACER consisting of sustainability are as followed:
- Free-to-play(F2P) mode: TRACER makes mass adoption by Free-to-Play mode. Users do not have to buy NFT shoes to earn tokens. Instead, users can watch advertisements and walk or run to earn tokens. With this feature, users can enjoy TRACER’s every social and game feature even without having NFT shoes. As more users enjoy using TRACER in F2P mode, the users will generate more advertisement revenue for TRACER. TRACER is planning to use all the advertisement revenue to buy back and burn our utility token $TRC. By this, the price of TRC won’t be determined simply by supply-demand and there will be a minimum price of TRC, backed by web2 BMs.
- NFT price defense mechanics: TRACER does not allow NFT breeding. An uncontrollable supply of NFTs brings hyperinflation. Breeding induces the uncontrollable hyper-supply of NFTs. In the early stage of M2Es, the new user influx rate(=demand) is bigger than the market supply which makes the NFT price increase. Then users breed NFT shoes using utility tokens to make arbitrage profit(market price > breeding cost). But when the new user influx rate decreases due to any reasons such as a bear market, or upper cap of potential users,… demand decreases, and the excess supply made by breeding cannot be controlled. Since there is no burning mechanism for NFTs and even if there is, there are no incentives for users to burn them, which makes a price drop of NFTs. This makes a death spiral. Users dump NFTs to secure the profit made, and as this happens the floor price drops, and this cycle never stops until there is a big event of new user influx.
This is why TRACER does not allow breeding NFTs but makes the internal value of NFTs. Plus, for more supply, TRACER implements a DYNAMIC NFT MINT system to control supply. The amount of supply of NFTs is ‘dynamically determined’ proportional to the F2P users and demand for new NFT shoes. As well as these mechanics, TRACER releases artists’ collaborative NFT shoes as the T-Raffle shoes, as TRACER is also focusing on the concept of ‘NFT as an art’. - Real Utility of $TRC to maintain deflationary tokenomics: TRACER focuses on the ‘real utility’ of our utility token $TRC. Utility tokens of P2Es and M2Es are mostly just tokens given to users just to make a yield. As the definition of utility, utility tokens meet their best reason for existence when they are used ‘usefully’. And by the term ‘usefully’, we mean by getting burned not for future ROI but for ‘pure needs’. Most of the burning mechanics of utility tokens in M2Es are for future ROI and this makes gradual inflation. This is why ‘useful’ usage, or in other words, pure burning mechanics is so important for deflation. TRACER’s utility tokens will be used and burned for the following pure and useful objectives to maintain deflationary tokenomics:
1) Participating in Challenge mode: making healthy habit
2) Participating in Lottery mode
3) Participating in Team Battle mode
4) Usage in buying diverse products including healthcare supplements
5) Usage in reducing insurance fee
6) Buying cosmetic skins for NFTs
7) Repairing, building, and leveling Shoes
8) Getting into a higher-tier group
9) Bidding in LAND-MONOPOLY in-app game
Noticed there are more than just NFT features on your project
Yes, even our NFTs are not just any NFTs. All NFT shoes are composable. You can mix-n-match different shoe parts of different shapes, colors, and textures and make a unique shoe of your own. This is the REAL GENERATIVE NFTs, generated on our users’ hands.
Composable 3D NFT shoes are not just special in cosmetic ways, there are more secrets to it. We believe the future of utility NFTs are composable NFTs. By making NFT shoes composable, users can customize and decorate their shoes so that it fits the cosmetic needs of every single user. Users do not just mint or buy any NFT shoes or shoe parts just simply for utility but they will buy NFT shoe parts that have both utility and design of their taste. This will result in long-term holding of NFTs as an art. Like the status quo, NFTs only with utility make people dump the NFTs to the market whenever they lose interest in making yields.
Besides composable 3D NFT shoes, TRACER focuses on Tier System. Let’s think about successful web2 games. Gamers from all around the world spend tons of money and time to reach a higher social state in the gaming community. This is why the Tier system is so important. Successful implementation of a Tier system can shift users’ interest from M2E yield to getting in a higher tier. TRACER will give more social and membership benefits for users at a higher tier, which will make many users focus on going to a higher tier, rather than spending money to get more future ROI. This also prevents inflation because former M2Es make users buy and burn utility tokens and NFTs for ROIs but TRACER’s Tier system makes users buy and burn tokens and NFTs in order to belong to the highest tier, the Diamond tier.
Things the community can expect or reckon on TRACER in the near future?
TRACER’s CBT(closed-beta test) app was launched at the end of June and the 4-week retention is currently 80%. Our genesis NFT shoe minting will be held on September 8th, and TRACER’s public beta phase is planned to open in October(could change in the future).
Many more announcements will be made but among them, TRACER is about to make big announcements especially in partnerships and backers. Some of the biggest industry leaders might be announced! :)
If there is a vision the team values the most, what will it be?
Our vision is to make users all around the world enjoy daily exercise with TRACER, get tokens, and even benefit from customized healthcare services based on life-log data for at least three to five years and hopefully more than ten years.
Our vision can only be made by sustainability, and that is why we value sustainability the most. We make web3 induced data valuable.
Please enjoy TRACER, the first sustainable M2E, or ‘Move-n-Earn’ project on web3.
You can find out more about TRACER on their channels and resources below:
Website | Twitter | Discord | Whitepaper
