Progress Report: 25/04/2019
Following our End of Q1 Report at the beginning of April, we are back again to share this month’s developments within the IG x TRON community. If you have not already, you’ll want to ensure you’ve caught up to date with 2019 so far!
Q1 Progress Update
Before we progress into the second quarter of 2019, we will provide a reflective overview of Q1, compiling our…
IG Token Economics
As of 25 April 2019:
- IGG in circulation: ~12,000,000,000/50,000,000,000
- IGG TRC-10 remaining to be converted: 1,133,572,678/50,000,000,000
- IGG Transactions since January 2019: 458,373
- IGG Token Holders: 25,697
- IGG token burn wallet address: https://tronscan.org/#/address/TXDugLz1djHt3mzU25TMk7RLR1wCmSXkwa/token-balances
- IGG to be burned at the end of this month, so far: 29,352,896.65 IGG (~$3400)
IGG x Partner Token Economics
We have provided a general overview of our IGG token economics, outlining a few use cases we will see the IGG token used for. In addition to this, we have also introduced a deflationary mechanism (token burn) that will support the short term value of IGG. With regards to our partner tokens, we have indicated potential use cases, the benefits of partner tokens, as well a provisional plans to support their general token economics. Over the next week or so, some partner tokens will be listed on TRON Watch Market, which will be exclusive to IGG.
Token Economics — The Future of Digital Economies
Our tokenised model will serve to mitigate the current geographical barriers that affect the exchange of value…
Also included in this update is details of the dissolved partnership between IG and GSIN Sports. Those that had purchased GSG will have their IGG returned to them once we have the script in place. Until then, we urge all holders of GSG to NOT send their GSG tokens to anybody; we will clearly outline the process for doing so. We thank our community for patience on this matter.
As our community continues to grow, it is important that we establish clear guidelines for all community members, including admins and the core team, to approach our social media channels with. Inside these guidelines, we have indicated some desirable and undesirable behaviours, clarifying how Galacticans should act when in our channels. These guidelines will be revised subject to our community’s feedback.
As a community centric organisation, feedback is critical to our decision making processes. We kindly request that all community members spare a few moments to complete our feedback form at the end of the document shared below.
Community Guidelines and Feedback
From our very first pre-sale days, through to our New Years 10 Day Countdown, we have provided our community with…
Platform Development Updates
This month, we reached our 6,000 follower target, and as such, released a succession of short videos demonstrating a few features that have been developed on the platform already. With our infrastructure in place, we will begin to see users establishing teams on the platform. The current price to establish a team in the IGGalaxy is 1,000,000 IGG, where half of that is burned when payment has been received.
Make sure to check the three sneak peak videos shared below:
IG Beta FUT Cup
This month, we hosted our second round of tournaments on the IG platform: the IG Beta FUT Cups for PS4 and Xbox FIFA players! Since the Alpha Cup, our platform has seen considerable improvements; most notably, in the automatic fixture generation on the backend mechanics.
To allow us to support various tournament types, we decided to hold these tournaments with fewer players than the Alpha Cups; 16 players each. The reduction of players participating primarily allowed us to test and conclude these tournaments on consecutive evenings. Moreover, our developers conducted further testing on the platform’s functionality, also monitoring each player’s user journey as they navigated the tournament. We now have the capability to support quick-fire, and weekend tournaments.
We would like to thank all users that took part in last week’s platform testing. Feedback from the tournament was extremely positive, and we look forward to increasing our FIFA player base.
Following on from this tournament, we will soon be looking to support our third game mode: Pro Clubs. This, in contrast to the two other game modes supported, is team orientated with up to 11 players per team. Naturally, the support of this game mode requires extensive testing in our closed environment before we can market it to our FIFA existing player base.
In the meantime, we will be looking to host further FIFA tournaments in Classic Online mode which will keep our players participating until we deploy this.
Wallet Integration on the Platform
Concluding our second set of tournaments within our platform naturally compliments the new feature soon to be deployed in the IGGalaxy. Our developers have successfully integrated a wallet function that will allow gamers, and wider stakeholders alike to create a wallet and store their tokens. This is a huge milestone; a milestone that will compliment the sustainability of our vision for a trusted tournament platform that will allow for the immediate transfer of value. Of course, many of you know how daunting it is to take your first leap into the crypto space. As a lot of our user base will have very little knowledge regarding crypto, this feature will be integral.
Although we had initially hoped to deploy this feature as part of our Alpha, yet due to security issues, were unable to do so. Now, with the wallet feature built into our platform, we are in a much better position to safeguard against potential security risks. Notwithstanding, typical wallet precautions should be taken: never share any sensitive information that may compromise your wallet.
Earlier this year, we outlined our intentions to implement a function that would replace our Loyalty Rewards for voting Intergalactic-Gaming as Super Representatives. This function would enable Galacticans to freeze their IGG, earning rewards for doing so in the process, with the overall aim to support the sustainable growth of the IG token economy.
During the planning phases of implementing this function, we discovered a highly attractive opportunity that would allow us to carry out the basic function, but also inspire engagement and excitement.
We have been very reluctant to reveal any information regarding this application for good reason. We strongly believe this secret project will provide significant value to the IGGalaxy and other projects on the TRON network but we need to ensure that it is executed and marketed correctly. We can confidently and proudly say that our patience has paid off as we can confirm the smart contracts have been complete and now we are integrating them into the platform!
We expect to begin the first phase of the deployment of our application in early May!
During April, we found ourselves out of the top 27 elected Super Representatives on the TRON blockchain. Having used this as an opportunity to find out what changes to our reward structure our community may desire.
We had initially proposed two distribution plans which can be viewed below. With the community opting for the second proposal, we decided to increase the IGG amount to 600%, but later found that the second proposal was not as beneficial to non-holders of IGG. Despite leaving it to a community vote we are still yet to break back into the top 27, but there are also wider factors to consider.
In order to re-establish ourselves as elected SR’s, we have updated our reward structure to the following:
- 90% TRX earned from producing blocks to be distributed back to voters proportionate to their contributing votes.
- 10% TRX to be used to buy IGG back from circulating supply; the IGG bought back from supply will be burned on a monthly basis.
Click here for more in-depth SR update, including further details on how we intend to encourage the mainstream adoption of the TRON protocol.
The Decline of the Community SR’s
Following a six month spell amongst the top 27 SR’s on the TRON network, we now find ourselves three places behind in…
How IG aims to support the mainstream adoption of TRON
Considering the size of the gaming industry, our social competitive gaming platform will certainly contribute massively to the mainstream adoption of the TRON protocol. We are just over seven months away from our full public release; to date, we have seen many users welcomed to TRON through the tournaments we have hosted thus far. As we increase our player base, establishing tailored leagues and tournaments in multiple esports titles we will see an entirely new demographic of users utilise the TRON network.
To see full details of how we have, and will continue to support the mainstream adoption of TRON, check out below!
Community Engagement Competition
As gamers compete in our online tournaments, acquiring IGG in the process, it is important they understand the space they are entering. These gamers will be exposed to an entirely new world, one that they, or their friends may not be accustomed to. We have all been in this position.
Education is fundamental for mainstream adoption. Now, we must encourage adoption amongst our peers that are yet to: adoption is coming.
- Create content explaining what initially drew you to TRON
- Any format permitted: article, video, podcasts and so on…
- A video would be recommended for most engaging content form
- Flexibility on length of content
- Creativity and Thought
- 5,000 TRX and 250,000 IGG
How Intergalactic-Gaming (IG) Aims to Support the Adoption of the TRON Network
As we look to keep competitive gaming deeply rooted in the constructs of TRON’s decentralised entertainment platform…
As we have only had a few entries, we have decided to extend the competition for a week. Entries to be submitted to firstname.lastname@example.org AND posted on Twitter with the hashtag: #TRON-Ed. For anybody that experiences difficulties submitted their entries, please get in contact with us prior to the competition deadline and we can arrange for an alternative submission.
Developments in the IG Ecosystem
Galacticans United’s CSGO Roster Compete at their first Professional Games!
Our CSGO roster, accompanied by members of the IG team competed in their first professional tournament at the Copenhagen Games last week. Although we did not leave with the result we were looking for, there were certainly some major positives to take away.
The event provided us with great content that we look forward to sharing with you over the coming week. In addition to this, we have made some important connections that will no doubt lead to synergetic collaborations in the near future. For now, we have provided some insight as to how Denmark has utilises gaming to assert their esports dominance that you can check below.
Denmark’s Esports Infrastructure: what we can learn
Following the Copenhagen Games 2019, the event itself was hugely beneficial to us as an organisation, and to our roster…
Make sure you’re following over the coming month, we have loads in store!
To keep up to date with developments, please follow us on our various social media channels: