In This Issue
- The team from Cantina Royale talks about their top-down tactical arcade shooter game.
- Erik has a report for you on 6 misconceptions about staking crypto.
Premium members also get the following:
- My latest portfolio updates
- Rekt Capital has the latest technical analysis for you on the market.
- Rebecca has all of the latest news for you.
- Upcoming NFT drops
- Defi Dad has a tutorial for you on how to earn 16% APY lending USDC to Wintermute on Atlendis.
- Jesse has a ton of hot new airdrops for you.
- Hot new token sales.
- Rebecca breaks down this week’s trending coins.
- Jesse has a deep dive for you on Radicle Crypto.
And much more!
Cantina Royale Interview
For anyone not familiar, what is Cantina Royale?
Cantina Royale is a top-down tactical arcade shooter game featuring both single-player and intense online multiplayer battles.
It is the first Free-to-Play and Play-to-Earn Metaverse game in the market with fully modeled unique characters and bootstrapped 3rd party NFT collections like the Bored Ape Yacht Club (BAYC) and the Elrond Ape.
With Cantina Royale, our team strives to push Web3 gaming mainstream by developing an NFT lending platform, mobile-first experience, and NFT interoperability.
What does the CRT token do?
The CRT token is the governance token for Cantina Royale – it has a fixed supply of 1 billion $CRT, and will be the pillar of the Cantina Royale ecosystem.
It is also an economic incentive to encourage players who actively engage in the ecosystem. Holders of $CRT will have a confluence of on-chain governance proposals besides the functional impact on the overall ecosystem, including the trading of NFT characters, in-game boosts and consumables, tournament participation, weapon forging & upgrades, character recruitment & progression, and more.
Why did you choose to build on Elrond?
To build an accessible Web3 game for all, we need a trustworthy partner along the road.
With the long-term relationship, we are familiar and confident with Elrond’s team capabilities and thus fostered this partnership.
Moreover, we value the sustainability of Web3 development and our game itself which is why we are more than honored to work with one of the first carbon-negative network in the world as we strive for climate-friendly solutions when building Cantina Royale.
Scalability is the key to ensuring the speed and quality of data and transaction management capabilities in Cantina Royale. Elrond has a high-efficient capability to process as much as 15,000 TPS and can go beyond 100,000 TPS if required.
This is a truly ideal environment to enable a smooth gaming experience on Cantina Royale as we cater to people from all over the world with an epic Web3 gaming experience.
As we develop new Web3 technologies and experiences for all users, Elrond and Cantina Royale are on the same mission to push the mass adoption of blockchain games for all gamers and developers by solving the fundamental issues of P2E gaming.
Elrond has always been very selective with projects they take on the Maiar launchpad (with almost 90% of applications denied), and Cantina Royale is honored to be chosen by their team too. It was our common goals that brought us together, and Elrond’s solid foundation shows a promising future for Cantina Royale.
How are you using NFTs in the game? What is the benefit of holding a Space Ape?
NFT is an integral part of Cantina Royale as they resemble the characters and weapons in gameplay. Unlike the traditional way of making a living, P2E and NFT gaming resembles a new stream of income for players and investors.
By playing Cantina Royale, holders can earn income from keeping all ownership rights over their digital assets as its progress in the game. Some of the ways will be earning in-game rewards or renting out NFTs to other players on the lending platform.
If you are a player who wants to experience for free, our lending platform powered by Verko will match holders with borrowers, seeking out optimum earnings for each party. While borrowers gain rights to use the NFT in games, they do not have any ownership over the asset. Holders can still gain rewards as their borrowers do, and earn tokens from the staking pool on a weekly basis.
The entire process will be done on-chain, and holders only need to confirm staking their NFTs with a one-click operation to list them for lending.
I see you are allowing Bored Apes to be used in-game, what does this mean, and are there plans for other NFT collections to be incorporated?
The Bored Ape Yacht Club collection has marked a historic moment in the blockchain world which signifies the potential of incorporating blockchain technology and NFT into our daily lives.
As holders of BAYC, this will mean that their NFTs are no longer just digital assets that are merely stored in Smart Contracts, but transferable and interactive across different virtual ecosystems.
By incorporating BAYC into Cantina Royale, we are starting the mission of achieving full NFT interoperability in the blockchain world: where the connection between in-game digital assets with other titles happens.
With the safeguard of blockchain technology and smart contracting, we empowered our players with in-game & digital asset transfer ownership.
Followed by BAYC, We are introducing The Elrond Apes collection to the game next as well. More details on the collaboration between Elrond and Cantina Royale NFTs can be found here.
Other than that, we are already in the planning stage with other NFT collections of future collaboration. So stay tuned to our social media to know what NFTs we have coming up next!
What is your plan to onboard users?
With a simple few clicks and you are all set! Cantina Royale provides a smooth and accessible onboarding process for users that is similar to what all Web3 users used to have in other Web3 applications.
It will be launched on mobile, PC, and macOS, with cross-platform gaming available. For F2P players, there are no wallet requirements to play the game. You only need to connect to your digital wallet if players intend to trade on the NFT Marketplace or rent out their NFTs on the Lending Platform.
Can you explain the 1% lifetime earnings? How does it work and how did you come up with the idea?
We wanted to thank the initial backers of the project for being with us from the start with something that will be truly beneficial in the long-term, which is what the Genesis Space Apes are here for.
Holders of Genesis Space Apes will earn additional rewards from all future-generated NFT characters via the recruiting feature.
They will earn 1% of in-game earnings from all future generations that are descendants of the original Genesis Space Ape – this includes the sold NFTs on the marketplace after recruitment.
For example, if each Space Ape has 6 recruitments during its lifetime, after 4 generations, the Genesis Space Ape owners will get 1% from 1,296 NFTs (roughly equal to owning 13 NFTs).
What comes next for Cantina?
We are delighted by the overwhelming interest in the Cantina Royale IDO and NFT bundle sale, which concluded on the 18th of July.
After the game launches in Q3, we are also ready to let our players experience NFT interoperability in gaming very soon! Other than that, BAYC holders will soon be able to enjoy playing as Bored Ape on Cantina Royale by the end of Q3.
6 Misconceptions about Staking Crypto by Erik
Staking makes your crypto assets work for you. It is also a way to support the project you believe in, by securing its blockchain. In return, you get staking rewards. Let’s break down some of the misconceptions around staking crypto.
Misconception #1: Staking rates are too good to be true
How is it possible that staking rewards on, for example, DOT are in the order of 13%? That must be too good to be true and not sustainable, right? Well, no. See, the inflation rate of DOT is around 10% per year. So there’s plenty of DOT to hand out.
By staking your coins, you make sure that the inflation of the token supply doesn’t dilute your purchasing power. After all, the emission of new coins dilutes the existing coin supply.
So view staking as a mutually beneficial deal between the network and you. You provide the security of the network, and the network protects your purchasing power within the ecosystem of that coin.
When deciding to stake, first look up the inflation rate of the token and compare this to the staking yield.
Graph from AAX Academy. Be aware that inflation rates are not necessarily constant over time
Misconception #2: You need a lot of money to stake
With Ethereum, the minimum amount of Ether you need to run a validator and stake is 32 Ether. Apart from the fact that this is a hefty sum, running an Ethereum validator isn’t easy. It requires an industrial-grade internet connection and dedicated hardware. The same goes, to a greater or lesser degree, for some other chains – see below.
So most users will opt to delegate the staking to a third party: a staking-as-a-service platform or an exchange. These parties will connect your wallet to a staking pool. In some cases, like with Cardano, you can directly choose a staking pool with your wallet.
Misconception #3: Staking requires a lot of skill
Just like there are many ways to hold your crypto, which come with trade-offs between user friendliness and security, there are many entry points if you want to stake your crypto. In many of these setups, you are not directly doing the heavy lifting but delegate it to a crypto exchange or staking-as-a-service platform.
Entry points to stake your crypto are:
- through a wallet: connect your existing hardware wallet or browser wallet to a staking-as-a-service provider or staking pool
- using a crypto exchange: the exchange handles the technical side
- becoming a validator yourself
Becoming a validator requires skill and hardware: it is the ‘hardcore’, less common way to stake.
The first two options in the above list are more common. A wallet is easy to set up and a staking-as-a-service platform has the skill and hardware to be a validator on its users’ behalf.
The same goes for staking your crypto via an exchange. It will connect your funds to a staking pool. Exchanges such as Coinbase, Kraken, and Binance allow you to deposit coins for staking. Of course, a staking-as-a-service provider and an exchange will charge a commission for this service.
Misconception #4: Staking is the same between cryptocurrencies
Some big proof-of-stake blockchains by market capitalization are ETH 2.0 (pre-merge), Cardano, and Polkadot. To get a feel for the different approaches, let’s have a look at the staking rewards and dynamics.
In the case of Cardano, holders of ADA delegate their coins into staking pools. It doesn’t require network participation like running a node or dedicated hardware. The staking reward is 6% APY.
For Polkadot, there is a distinction between validators and nominators. Nominators ensure that validators behave appropriately. Validators must run a node, which requires launching a cloud server on Linux. There isn’t a minimum requirement for staked DOT for nominators, and there’s no need to run a node or use specific hardware. The staking reward is 13% APY.
Ethereum 2.0 staking rewards also include network rewards, which are a chunk of daily transaction fees. The rewards vary, based on the total amount of ETH staked. When there is more ETH staked, rewards will drop. Currently, the staking reward is around 5%.
Misconception #5: Yields are consistent and constant
First, the reward rate can vary per protocol. For Solana, for example, there is a so-called staking dilution structure. This means staking rewards are dynamic and change in tandem with the number of tokens staked out of the total current supply of SOL.
In addition, validators charge a commission that can be changed. Depending on the pool you choose this can result in lower rewards for some pools than others. For Cardano, you can have a look at its staking yield calculator. View the estimated APY you will get, depending also on the commission paid to your staking pool operator.
Then there is the quality of the staking pool. Some protocols include the option of punishing validators that are offline or include wrong transactions. That is called slashing. Delegating your crypto to such a validator could result in losing a percentage of your crypto. Check the reputation of a staking pool before you deploy.
Misconception #6: Everything called staking is staking
As staking has become so popular, there are some projects which use the term staking without actually using the same underlying mechanics. Remember, staking is offering coins as collateral for the chance to validate blocks, and getting rewarded for that.
But projects such as Apecoin have started using the term staking in a repurposed way. There is no Apecoin blockchain, so technically you can’t stake your Apecoin. So the ‘staking rewards’ you get by staking Apecoin are just a reward from Yuga Labs for not selling your APE. Cobie is one of the crypto influencers who has pointed this out.
Thank you so much for your support, and I truly hope that today’s issue will give you insights needed to help you master your wealth.
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Lark and the Wealth Mastery Team
TCL Publishing ltd (director Lark Davis, owner of Wealth Mastery) is not providing you individually tailored investment advice. Nor is TCL Publishing registered to provide investment advice, is not a financial adviser, and is not a broker-dealer. The material provided is for educational purposes only. TCL Publishing is not responsible for any gains or losses that result from your cryptocurrency investments. Investing in cryptocurrency involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire investment. Investors should consult their financial adviser before investing in cryptocurrency.