GameFi project Bigcoin was launched the day before yesterday on "Penguin Chain" Abstract. In fact, this project has caused a lot of discussion in the English circle since its birth. If you look at the trend chart, you will understand why:

At the beginning, foreigners joked that it was a "Pi Xiu Plate". Looking at the long-term line, it is also a trend that is going upward

Since yesterday, the popularity of this project has gradually spread to the Chinese area. How did this project be played? In an environment where GameFi/chain game has been not the main hot spot in the market for a long time, how did it stand out and rise 12 times as a "mineral coins" produced by GameFi?

Introduction to the mechanism

You can tell by looking at the name of the project that Bigcoin's mechanism is basically imitating Bitcoin mining.

The total supply of Bigcoin is the same as Bitcoin, with an initial block reward of 2.3 $BIG, which will be halved every 4.2 million Abstract network blocks, or about halved every 53.5 days. Of course, in fact, this "mining" process does not really use actual computing power like Bitcoin. It is just a process in a virtual game.

After entering the game, players need to spend 0.01 ETH to buy a "mine" to start playing. When purchasing a "mine" you will get a free "mine machine". According to the game prompts, you will start producing the game currency $BIG. For each block, all players will definitely receive a $BIG reward. The reward formula is "Player computing power/all players' final computing power*block reward".

To dig faster, you have to spend $BIG. Although the initial "mine" had 4 slots to place miners, it only had 28 points of electricity, which could only support the operation of 2 cheapest "Raspberry Pro" miners with a price of $20 BIG.

Therefore, if you want to get more $BIG in the game, you not only need to spend $BIG to purchase higher-level "mining machines" to improve your "computing power", but also upgrade your "mining farm" so that you can place more and more advanced "mining machines". The mine will be upgraded and there will be a 24-hour cooling period in the future.

75% of all $BIGs used for in-game upgrades will be destroyed, and 2.5% of the coins produced by mining will be rewarded as a rebate.

Highlights

If you just copy the idea of ​​Bitcoin mining in a constant way, this game is quite boring. However, it incorporates a lot of ingenuity, making the gameplay from simply "game mining" to more unpredictable variables and interesting.

The game introduces a "mining machine elimination mechanism". Just as in the history of Bitcoin mining development, old mine opportunities are eliminated by new mining machines with stronger computing power, and the mining machines in the game will also be dynamically adjusted with the output of the game. In yesterday's update, old mining machines can be sold at a purchase price of 90%, players can replace them with new mining machines or make profits.

Of course, the profit-taking mentioned here has a strong head-to-mine effect. Take the editor himself as an example. When the game was first launched, I purchased two mining machines of $80 $BIG. The price of $BIG was only about $1 at that time. When the editor got back $154 today, $BIG had risen to $5.5. In the long run, it is more reasonable to define this as a "free exit mechanism", because the price fluctuations of $BIG are difficult to predict, and as more players enter the game and halving occurs, the fewer $BIGs will be produced at the same cost.

The project party obviously came prepared. When the game was first launched, the entry cost was 0.005 ETH, which may be to avoid the influx of too many "low-income insurance accounts", which increased the entry cost. In addition, the first mine upgrade yesterday was $1600 $BIG, but it was adjusted to $70 after the update. This may later compensate the big players who have upgraded in the early stage, otherwise the big players who spend 1600U to upgrade the mine will lose money.

There is also a "props store" in the game. It is not yet known what it will do to buy props inside and place them in the mine.

Finally, this project has received significant support from Abstract. Before the game was launched, the official promotion received official attention from Abstract. Luca Netz not only appeared in the comment section of Bigcoin's tweets, but also directly posted a tweet cue for this project:

Strategy

Overall, this is a big game. The strategy of big players is naturally to re-invest to maximize $BIG output. For big players, in addition to reaping $BIG's profit, there is an expectation that they can reap a large amount of Abstract XP (related to future Abstract token airdrops). This case of On-chain Heroes was first. Previously, @0xsider, the top brother of On-chain Heroes, received an 84994 XP reward within a week. If you want to participate in On-chain Heroes, you must spend at least 0.5 ETH to purchase an NFT and enter the in-game stake.

The distribution mechanism of Abstract XP is opaque, but the official will allocate XP based on the activity of weekly ecological applications. Currently, $BIG has nearly 640 ETH in its pool, and the transaction volume has been close to $11 million in just 2 days of its launch. Before the On-chain Heroes season 2 game starts, based on the current high popularity, Bigcoin is likely to be the project with the largest allocation weight in XP.

For ordinary retail investors, a more suitable strategy is to use the lowest entry cost, use free mining machines to make a round-trip cost, and at the same time gain some Abstract XP.

But it must be noted that if you want to gain Abstract XP, be sure to use Abstract Global Wallet(AGW) to connect and participate in the game. This is not a plug-in wallet, but a web version of the wallet. You can register using your email address or you can register through plug-in wallets such as MetaMask. (Official website link）

Conclusion

Abstract The development strategy of this chain is very different in the current market. Other chains may encourage users to participate in the test network, or issue NFTs with bundled tokens to warm up, but Abstract can be said to be a "attention development-oriented" chain, mainly focusing on "live broadcast" and GameFi.

Abstract's user base is NFT players in the English circle. Although the NFT assets on this chain perform very mediocrely, the old NFT players are relatively more interested in things that "put their attention to making", even if they know the "plate". This is the key to the success of both On-chain Heroes and now Bigcoin on Abstract.