It’s Time for ERC20-GX
So, finally, we have completed our token-swap process and moved to ERC20. Let’s make a wrap-up.
Token-Swap Process
On September 20, 2018, we have let our community know about the decision of token-swap from Waves Platform to Ethereum’s ERC20. Before that, we have made two different polls, one is private and one is public on Twitter, to know the thoughts of our community. After getting the results in favor of ERC20 with the rate of around 70%, we have made our final decision with ease of mind.
Since that time, we were completing transactions of our users. With a new KYC rule to withdraw, we let our users withdraw their GX to Waves Platform and sell it if they don’t think to continue with GameX. Not everyone would like to undergo a KYC process and we perfectly understand that. We hope that these users have made some profit while with us. On the other hand, users that decide to continue with us with joining the KYC process, deposited their GX tokens back to GameX Platform to get ready for the token-swap process. All of these processes completed October 20, 2018, and GameX’s relation with Waves Platform is officially ended. King is dead, long live the King!
Some of our users couldn’t catch the deadline and have their GX tokens stuck on Waves Platform while they were thinking to deposit them back. Our support team is assisting such members to transfer their tokens back to GameX. Just use our contact us page and let us know about your inquiry.
New Major Changes and Additions
With our token-swap, we also changed some of the aspects of the platform’s mechanics. Also, a new dashboard is designed to show newly added features on GameX.
Here is the list of newly added feature and changes made;
User Types
There are 3 types of users at the moment;
Users become a GX Initiate when they register on GameX. When they verify their identity via our KYC process, they become GX Protagonist automatically. And finally, if a GX Protagonist invests in GameX projects, he/she becomes GX Elite.
Note: Becoming a GX Elite is not possible at the moment since we didn’t release the information about our new crowd-funded projects.
Each user type has different benefits and limitations. Their GX earning rates vary. Also, some of the actions are limited to some of these user types.
E.g. Initiates can’t withdraw their GX tokens to their wallets or spend them on GX Raffle Store. Only possible way to use them is GX Marketplace. To be able to withdraw and use GX tokens on GameX without a limit, users must become a GX Protagonist with undergoing a KYC process.
To see the earning rate modifiers, please visit our How to earn and spend GX? page.
GX Rank
Ranks are automatically assigned to users by their active GX balance on GameX Platform. Basically, holding more GX on GameX increases the rank of the user, therefore, increases his/her daily reward rates.
Currently, there are 8 ranks.
To see the earning rate modifiers, please visit our How to earn and spend GX? page.
Loyalty Points (LP)
Each daily GX reward claim will add 1 LP to users’ LP balances. This LPs will be spent on different sections of GameX, also users will be able to convert them to GX directly. Its areas of use are still in development.
Daily GX Reward
Its the revision of our old daily GX reward system. Users were getting a flat amount of GX when they logged in to GameX Platform once a day.
New daily GX reward system is manually triggered on Dashboard and rewarded GX amount varies by User Type and GX Rank of the claimer.
To see the earning rate modifiers, please visit our How to earn and spend GX? page.
New Leveling System
GX Marketplace, GX Raffle Store, GX Playground and GX Faucet have a new leveling mechanic.
Each game purchase on GX Marketplace, ticket purchase on GX Raffle Store, claimed gaming reward on GX Playground and faucet claims on GX Faucet, increases the activity rate of this user on corresponding sections.
When users reach 100%, they rise to the next level and each level rewards these users with certain amounts of GX.
To see the earning rate modifiers, please visit our How to earn and spend GX? page.
Dynamic GX Playground and GX Faucet Rewards
With our new User Types, GX Playground and GX Faucet’s minimum and maximum reward modifiers become dynamic. Basically, GX Protagonists earn more than GX Initiates while GX Elite group earn with the highest rate.
Account Notice
We have added a new line for account specific messages. This section will be used to let our users know if there is an important issue or message specifically for them.
Team’s Current Task List
Our token-swap is done and we have released the new version of our platform. Now, before moving to more major changes, we’ll need to tailor and optimize some of the sections on GameX. Here’s our task list in order;
- Activation of Deposit and Withdrawal Sections
- First Exchange Integration (It’s actually done and it’ll be AdzX. We just wait for the go signal)
- 2nd Exchange Integration and Its Campaign (One of our partners have opened a new exchange, we’ll join their campaign and voting process)
- Verification of Remaining KYC Applications
- Nightmare Mode for GX Faucet
- GX Raffle Store, Reward Distribution (8 games waiting for raffle results, sorry guys for the delay)
- Restocking of GX Raffle Store (Stalker: Shadow of Chernobyl will be the first)
- Addition of New Games to GX Playground
- Redesign of GX Marketplace (ETH will be the only coin to purchase games)
- Implementation GXTra, A New Section (It’ll be another revenue stream for GameX and our users)
- Implementation of GX Mining Hub (Yes, it’s coming…)
- Preparations for New Fund-Raising Campaign
In the meantime;
- We’ll aggressively apply for new exchanges. Since we are an ERC20 token now, it’ll be easier to be accepted by exchanges.
- We’ll advertise GameX on some of the popular platforms to increase our user-base.
Let’s keep in touch guys!
