In 2017, CryptoKitties project has been so popular in blockchain applications. According to DappRadar, CryptoKitties users flooded ethereum’s blockchain caused Ethereum congestion and daily active users peak was reached 14,914 in December 2017. However, crytpo user lost their interests for CryptoKitties quickly as well. CryptoKitties’s daily active users for now is around 46.
Vitalik Buterin bought forward an on-chain decentralized exchanges idea called “x*y=k market maker”, k for some constant. inspired by the Vitalik, Uniswap using this constant equation to create liquidity pool which provides liquidity for ERC20 tokens, its trading volume surpassing $1.76 billion in August.
Learned from the automatic market maker and the Uniswap, I am developing a multi-chain wallet game framework call “STONE”, which would embed wallets of different protocols and connects players of different games. There are traits following:
Swapping wallets of protocols that corresponding to different games to STONE, players can login the game by wallet
Token+ Stablecoin, user can exchange token for stable coin, game points.
Automatic market maker on this multi-chain wallet
Assuming that X token is USDT(stablecoin) and Y token is the token of any projects.
If one user wants to purchase more project tokens, and it will result in a shortage of project tokens and increased the amount of USDT, meaning the price of project token will higher.
The first user that deposit two tokens provides liquidity to the wallet, but doesn’t decide the exchange rate. However, the exchange rate will change according to the deposit quantity of USDT and the project token by the first one liquidity provider. The exchange rate of USDT/TOKEN provides arbitrage opportunities for trader, the transaction fees for liquidity providers.
It's not only that , most of the time there are numerous tokens in the market and therefore it's really hard for the users to choose which one to invest in.
Many tokens stays unrecognized for a long time and eventually die. Therefore even before this what's more important is the ICO's focusing on the project , what do they have to offer that other tokens don't ?
This is always the question which attracts the Investors towards them , the market is flooded by the tokens right now , what an average Investor sees is :
Option to invest in already successful one or take a chance!!
Therefore most of the people actually try and go for the first option.
Larger Investment opportunities do provide liquidity , but at the same time I do think even the supply does determine how highs and lows are going to be there in the value.
this is a game platform, i want to develop a game platform that brings liquidity for both game and crypto markets.
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