End of October Progress Report
October was a busy month for our community in terms of content. We provided two open letters, an overview of the evolution of competitive gaming — including an outlook of its promising future — and finally a platform update: what can our community expect for the public beta launch of the IGGalaxy?
Our Co-Founder Speaks at United Nations World Tourism Organisation Event!
Our co-founder, Naeem, was invited on behalf on the United Nations’ World Tourism Organisation (UNWTO) event mid-October. This was great for two reasons; on the one hand, it is fantastic that esports is being included in discourses regarding future global growth and innovation, especially if we consider its similarities to traditional sports. On the other, we are grateful to the UNWTO for providing us a platform to share our views and inviting us to join the conversation. It was a truly an enriching experience!
If you have not already, you can catch up with our reflection of the event here.
How are our Galacticans United FIFA players getting on?
Following the signing of three FIFA players, Sean Allen, Liam Henney, and Joseph Cowler, all three have performed phenomenally to reach FUT Verified status. To become FUT Verified, players must record 27 wins out of 30 — and any FIFA player will tell you that this is a great achievement!
Being FUT Verified offers the opportunity to compete in official Global Series Qualifiers, which contribute to seasonal Global Series Points; these points are needed to qualify for the season’s main event, the FIFA eWorld Cup. We want to also take this opportunity to give a special shout-out to Sean, who this month achieved 30 wins out of 30 — on two consecutive weekends — placing number one in the world across both consoles for the first week and 40th in the monthly placement! Well done Galacticans! Go and show your support!
- Sean Allen (The IG Dragon): https://twitter.com/DragonFIFA_?lang=en-gb
- Liam Henney: https://twitter.com/LHenney06?lang=en-gb
- Joseph Cowler: https://twitter.com/Cowler_2FG?lang=en-gb
Fiat/TRX Gateway Integrated
Our partnership with Carbon, a fintech company based in New York, has seen the integration of their infrastructure into the IGGalaxy. The benefits of this should not be underestimated. With a thought on our prospective user base — the gamers — we must consider that many of them will be new to crypto. The IGGalaxy will therefore provide gamers with an ideal gateway to adopting crypto, allowing them to easily purchase or sell TRX directly.
At a later date, specifically following the initial launch of the platform, we will look to integrate an fiat/IGG gateway that will no doubt further accelerate adoption.
Round 4 Token Sale Complete!
Exactly 13 days ago today, we relaunched the IGG pre-platform token sale with an allocated amount of 500m IGG. This pre-platform launch sale allows current and prospective holders to purchase large amounts of IGG at a fixed rate of 0.005 TRX, without having to pay a premium; something that was relatively difficult with the low liquidity and volume on exchanges. With this, the TRX raised provide us with further capital to support us in the run-in to the public beta launch, whilst also welcoming new holders to the IGGalaxy.
75% (377,615,600 IGG) was sold during this round, meaning the remaining 122,384,400 IGG will be added back to the pre-platform token sale allocation. For the next round, we may even allocate a small portion of this to reactivate a Telegram token sale, but will provide more concise information, including a date, before Round 5 commences.
We expect to launch Round 5 within the next week.
Return of the Burn: Happy Bonfire Night!
Our main deflationary mechanism, as it stands, is from the TRX we earn as a Super Representative candidate on the TRON blockchain. 100% of the TRX we receive on a monthly basis is used to purchase IGG from the market place (TRX Market), and burned.
And then there is IG ORB, which only enters circulation by storing IGG in IGLabs’ capsules. IGLabs has committed to buying ORB back from Galacticans at a (current) fixed rate of 4 IGG: 1 ORB; 50% of all ORB sold back is again burned.
As last month’s scheduled burns did not take place, they have been compounded this month meaning a total of 4,544,985 IGG and 44,965,807 ORB has been burned, which you can view below.
Token Economics: By Numbers
A reminder that there is still 409,807,563 of the 50bn TRC10 IGG to be converted. If you still have TRC10 IGG to be converted to TRC20 tokens, you can do so via your wallet at www.iggalaxy.com, or by sending them to the following wallet address: TNgecdBdYY7ZvMC1p2ycPiyJ1siwHcS6KQ
All TRC10 IGG that has been swapped has gone to the following ‘black hole wallet’ meaning it has been completely removed from existence. You can view this wallet here.
If you are copying the address, be sure to do so carefully. Your TRC20 IGG will be returned as soon as the network verifies your transaction.
- Total Supply: 49,534,229,165 IGG
- Max Circ. Supply: 14,805,236,895 IGG
- Current Circ. Supply: 4,814,237,929 IGG
- IGG in IGLabs Capsules: 10,039,658,182 IGG
- Number of Transactions (03/01/2019): 753,744
- Total Burned: 470,472,467 IGG
- Total Supply: 941,802,639 ORB
- Circ. Supply: 307,097,986 ORB
- Total Burned: 58,197,361 ORB
Remember, you can store store your IGG in IGLabs capsules to earn ORB tokens, but to do so, you must have an account at www.iggalaxy.com!
ORB Rate Reminder:
- Storing 100k IGG for 30 days: 606 ORB
- Storing 10m IGG for 30 days: 60,580 ORB
All ORB tokens will have utility once the full development of IGLabs commences in Q1 2020, where Galacticans will be able to participate form clans to participate in group or solo quests! Watch this space!
Over the last few months as we have been building v1.0 of the IG platform, whilst listening to feedback from members of our community. Acting on feedback is integral to any company, and as you know we will continue to pride ourselves on acting decisively on the suggestions of our community. To this end, we have taken onboard feedback regarding the organisation of capsules, but must reinforce that our primary focus remains dedicated to the platform’s v1.0. public beta release.
The content pieces outlined in the introduction are pasted below — be sure to share them!
- The History of Gaming and Esports
- Esports Industry Progressing Towards Maturity
- Esports: The Future of Entertainment
- The Esports Pipeline Problem
- The Intergalactic Approach to the Esports Pipeline Problem
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