Ragnarok: Model For Games Utilizing HBD
Innovation and creativity is upon us.
This is the state of the cryptocurrency industry at the moment. We are dealing with a wide spectrum of innovation. People are basically free to build whatever they desire. At the same time, since much of what we are doing is open, people can take what others create and integrate it into their platforms.
Ragnarok is a game that is exciting a lot of people. It is working towards entering release, with a bug bounty going live soon. This is the first step in what should be a wonderful 2023 for the project.
During a recent Cryptomaniacs broadcast, we discussed this project with the founder. The features offered by Hive really help to make the vision of this game possible. We are also seeing some innovation that should provide a blueprint for all games going forward.
HBD For Gaming
We covered HBD in great detail. This coin alone has the potential to make Hive one of the most powerful blockchains out there. That said, the fact we have base layer DeFi which nearly eliminates all counterparty risk should be something developers pay close attention to. With gaming, this provides an opportunity to make things stand out.
So what is Ragarok doing that is so innovative? Really, it will simply duplicate the actions of many on Hive. Each day people move HBD into savings, earning themselves a return.
For many, since this option became available, the money that went in has kept growing. It now provides a very aggressive 20% return.
The idea for Ragnarok is to use HBD for payments All purchases along with entry fees for tournaments will be paid using HBD. This is completely sensible since it is Hive's native transaction coin.
Once the HBD comes in it is put into savings, it is left there. The idea is to keep growing the HBD holdings, thus earning a larger return.
This serves two purposes:
- it effectively locks up HBD (this could be further enhanced by adding time vaults to the blockchain)
- the earnings from savings goes to fund the prize pool
Here is where we see gaming enhanced. Suddenly, there is a consistent yearly prize pool offered to attract players. This will only grow as the balance in savings expands.
It is a simple model yet one that is effective. We can see how it can be duplicated across many games. Let the sales of in-game assets and tokens go to fund the rewards that are offered in the game.
Hive offers this at the base layer.
HBD To Market The Game
We see another simple idea that has enormous power.
On Hive, the talk is often about marketing. Here is where the idea is turned on its ear. Instead of spending money marketing, simply offer it as part of the prize pool. There is a point where the numbers attract attention.
What could the numbers end up looking like? This is all speculation because we have no idea of the cost of anything. However, if the saving account grows to 1 million HBD, that would be 200K to pay out yearly in prizes.
Does $200K in prizes appeal to gamers? That is a question only time will answer.
What we can take away from this is the long-term view. Each year, as the amount of HBD locked up grows, so does the prize pool. There could come a point where this reaches levels which really excite the potential players.
Since this is not a mass appeal game, at least from the playing perspective, we see how tapping in the right pool of potential gamers could provide a serious windfall. Word-of-mouth could spread things rather quickly once the decision is made to open things up.
Of course, for those who are already on Hive, this opens up an interesting proposition. Even if we are not interested in playing, we should do all we can to support the advancement of the game. Locking up HBD will only offer value to the ecosystem. Also, by presenting what we hope is a working model, others could follow suit.
HBD As A Growth Center For Hive
Hive having two coins at the base layer (HBD and $HIVE) is an opportunity that few other blockchains have. While many have stablecoins built on them, this is not part of the base operations. At the same time, many safeguards were put in place to protect the integrity of the coin as things grow.
When it comes to transacting currencies, scarcity is not the goal. This can stifle economic growth if the funding is not there to enhance the system as is required. With this idea pertaining to HBD, the "lock up" of the currency means more will be created. Once distributed to the players, it then is circulating in the economy, able to serve other purposes. Of course, the players might use it to pay for other game related items and simply feed it back into the savings account.
Think of this concept for most any project. A company could fund their operations in HBD. As revenues come in, the profits can be placed into savings. As it grows over time, company expansion could come from the proceeds out of this account.
Naturally, we want HBD floating in circulation. Here again the Ragnarok model shows us how players will have to have some HBD in their wallet. Since it is the transaction coin, anyone wanting into a tournament will have to put his or her hands on it. This means entering the market to get it if not in the wallet.
Thus we see the incentive is not to lock up all HBD. For those participating, some liquid is required.
Now let us consider this concept taken to another level. Perhaps there is betting on the players. This application could do the same thing. HBD as the payment coin means those wishing to gamble will have to keep some liquid. Now we are developing utility for HBD, which drives more value to the network.
Ragnarok already has this in the plans. For Hive, we simply need this process duplicated 100 times.
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they haven't had any updates for a long time; how is that game doing?
They are having a bug bounty released this week I believe. Sign up is in their discord.
So it appears to be entering Alpha stage.
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We must not forget what happened with Terra and UST. Same 20% earnings rate. The problem is that it collapsed. I understand that Hive is very dynamic and we can make changes to the products. Now, changes are a double edge sword: it makes the ecosystem dynamic but it also makes it difficult to plan for the long term...
That is what makes #BTC so special, it has been programmed as a dynamic system which adapts its difficult according to the mining power availible.
Still, i have high hopes for hive.
There are a lot of differences between Terra and UST. The similarities are of an algo stablecoin that was paying 20%. That is like comparing two stocks that pay 4% dividend yet one ends up bankrupt.
Hive has taken more steps to ensure the security of HBD along with the fact there is greater utility for HIVE. The idea of scarce digital real estate could enter in the future. There was no reason to have the backing coin of UST other than to create more UST.
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Does it not apply negative pressure on the price of Hive?
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It only applies negative pressure if HBD is underpriced on a free market. It's because, when you can't sell for 1$, you can convert it to HIVE which increases its supply.
https://twitter.com/1331330355513745413/status/1605567581083115520
https://twitter.com/742876529756110848/status/1605610736272777217
https://twitter.com/27706436/status/1605838156976226306
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Have Got my Role Recently to try out Game and hunt down Bugs. Hopefully there won't be much bugs and this Game sounds really interesting. Hope to see it doing best next year.
It does sound interesting, that is for sure. I am going to take a closer look.
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Awesome.
It is a good start. But game developers cannot and should not count on 20% being “the number” forever. Eventually as the HBD gets big it becomes a drain of value from HIVE.
Disagree completely. HBD can actually be an enhancement of value to Hive. The idea that 20% is unsustainable is absurd in my view. If we get to the point where the economy is in needs of hundreds of billions of HBD, do you know what the growth rate needs to be to get to that point.
20% is sustainable if the growth rate of HIVE is much higher.
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I get it. If growth in HBD comes from burning HIVE.
I am more referring to much later, when 20% APR would mean having to raise debt limit.
I wasnt talking specifically about the burning of Hive. Instead I meant the growth of the entire ecosystem.
What, for example, the demand for commerce was 500 billion HBD? How would the 20% be unsustainable?
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Once we hit $500bln matching the demand for commerce, is the 20% going to be brought down or are we potentially printing up to $100bln subsequently? If the demand is no longer 20% per year growth? (Knowing some would be locked in DeFi, some would be liquid, and not the entire balance would be locked in savings for the 20%)
If a business is banking on 20% per annum perpetually, they have a business case using wrong assumptions.
Like you said, compounding us powerful.
As the number gets bigger and bigger, one of the bear markets HIVE may no longer be able to cover the value of HBD peg. Bull market expansion could get out of hand.
I don’t know where the ultimate equilibrium is. I like the idea you mentioned, now I am looking at the side that may pose a threat to HIVE itself.
There is no such side. Well, the bad publicity for the Hive trademark does not help. But at the time of the crash, HIVE as a coin is fine (read: no extra pressure compared to if HBD did not exist). When the sky falls, only HBD holders are at loss (getting only a fraction of a dollar worth of HIVE if they decide to liquidate).
This is the key point. If 20% on HBD turns out to be sustainable, you end up wishing you kept the game reward fund in HIVE. If HIVE tanks, bad luck, nothing you could do.
While transacting with HBD is the obvious thing to do and helpful for the game and the blockchain, putting the assets in the HBD savings is a loss-loss proposition.
Basically, as a HIVE proponent, you want to persuade every one else to buy and hold HBD and avoid that strategy yourself. So yes, you want other projects to follow the idea - but only those you are not invested in.
Haven't heard about that game for a long time. I thought they closed the project
Listen to the CTT broadcasts. Dan mentions it quite frequently.
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I really like the thinking behind this project. It's the proper way of managing wealth that a lot of people can't seem to wrap their heads around. We saw far too many projects mismanage their funds over the years. This has the management baked right in. I have a feeling this is going to be huge. Even if it doesn't start that way, it won't take long for it to get there. That 1 million example you used is going to get obliterated I think. I can see some whales pushing the HBD in savings over 1m on launch day alone. Maybe I am being too optimistic.
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I have no idea of what is sold, the prices, so I just picked a number out of thin air. It could be much higher, or lower.
But yeah, in the end, for a game that has dedicated players, that is not the biggest number.
Also, investors can participate. I do not know if they will be feeding the prize pool at all or if all sales are on the secondary market.
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Yeah, I guess time will tell. I mean I can easily see 1000 people throwing in 100 HBD. That puts you at 100K right there, then you have 10 to 20 whales that throw in a couple thousand and you can quickly see it won't take much to make it grow. Then I assume there is going to be some compounding taking place after rewards, so it's just going to get massive.
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Time will certainly tell on this one. We will have to see what "sold" and how money for the price pool is raised.
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Yeah, they may choose to just use sales money in the pool and not reinvest a portion of the rewards. It will still grow though. No matter what.
It is quite early, but if you try and throw in 100 HBD, you move the DUAT (the only asset atm) market price up tenfold. Obviously, a massive bubble Axie-style can always happen but even if it happens, the game's fund won't cash it in - the card owners will.
My understanding is the most money will flow in from fees associated with actual play (healing, tourney entries) and if the players pay 1M to play and get 200k at the end of the year, that is a lot of players down money in the first year. Their decks might be ready to fight for the next years' reward pools but in practice only a handful of them go that far while most fold up after a month or two (so good luck collecting that 1M in the first place).
Do not get me wrong - losing players play for fun all the time but it is not like they can chase a dream of hitting a big score (what poker tournament offers) nor lose track of how much they are losing because there are enough winning sessions to feel fine (poker cashgame).
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Chess and Poker combined! I am keenly awaiting the launch of Ragnarok, 2023 is going to be exciting on Hive.
The HBD payment integration for Ragnarok is a benefit to the Hive ecosystem that is appealing to me.
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I agree. It is really a terrific way to enhance the entire ecosystem. This could be something very special.
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Great idea. HBD is an underrated stable coins, with a 20% yield.
Gamers can be confident the value won't tank like Axie Infinity.
Let's get building
Yeah. There is something I am going to propose in the next couple articles regarding an adjustment on chain. Perhaps we can add a special time vault for these purposes.
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I like this project, where can I start?
https://peakd.com/@ragnarok.game/posts
https://twitter.com/ragnarok_hive
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🙏🏼✌🏼
This is a great idea from the project team. HBD is at the center of it all bringing more utility to it. The bug bounty initiative is something I'm interested in, can't wait for it to go live.
I think it is going live this week but I wont swear to it.
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Suena muy interesante, hay que ver como funciona en practica.
The project is very interesting. And looking at the possibilities, it can really give a lot of benefits to HIVE. It is known that, as with any project, when there are high expectations, there are even greater fears that something may go wrong. But waiting for it to start.
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Sr. I think it is a same like starts constructing a Bulding without making foundation strong enough
Are you know currently hive coin have only one use case and that is medium of exchange, I mean when someone wants to power up his hive account he just bought some hive coins from exchange and powered up his account after transferring it to hive wallet and when someone powerd down his account he transferred his hive coins to exchange and sold it for USDT, even we are earning hive Power and HBD as a rewards
You may said HP hive Power or hive coin are same, no there is a gap of 7 days between these two
Can you tell me any other utility or use case of Hive coin
Why we are focusing only on HBD happy birthday I mean hive based dollar 😂
I think we should focus on hive blockchain and hive coin first, after making it strong enough as a foundation then we should start building everything around it
I am not following what you are asking.
Hive and HBD are two completely different coins with different use cases. HBD, for example, has no impact upon one'v voting power or curation rewards; HP does affect it.
HP also gives one access in the form of RCs; HBD has nothing to do with that.
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I think having HBD used for game is a good thing but I think the focus on Hive is still required. At some point, the 20% APR won't be there anymore because it would produce too much Hive. If Hive is strong, HBD will be strong and 100 more applications like Splinterlands/Ragnarok would be nice.
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WEN 30% APR for HBD?
This is very interesting, I am still a newbie in this community, yet it never stops to amaze me how users are an innovative thinkers to create this such of game . This game gives me a roman classic type of vibes, and I love it! And it gives me like dungeons and dragons hahah, can't wait! Hoping for its success.
How is the RAGNAROK now? Is it ready to play bow?
I love the idea behind the project. Even if it sounds easy, I'm sure that no one else thought about it and it's innovative enough to take the whole chain on the next level!
I am very interested in this game precisely because of the possibility of using the HBD to purchase the game's NFTs
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More than anything else, I marvel at the resilience and creativity of the #hive community. Your description of #hbd and Ragnarok is a case in point here.
I found this post on Veews:
!BBH
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@taskmaster4450! Your Content Is Awesome so I just sent 1 $BBH (Bitcoin Backed Hive) to your account on behalf of @bradleyarrow. (10/50)