The Crab Report (May 7 - 13)
Hello, fellow Crabadians! Ok, so I’m not going to sugar coat it. Things are looking bleak out there. This week we saw total carnage in the markets. We had a bank run on the number three “stablecoin” (UST), which lost ~40% of its value in a matter of hours, which caused a cascade of liquidations and epic discontent. Now it’s unclear whether LUNA and UST will survive. This was a number three stablecoin and a top ten coin by market cap just a few days ago. The speed of the wealth destruction has been breathtaking, even by crypto standards. I’ve seen a few different explanations as to what happened but most are some variation of this. Finally, today we are seeing a bounce. A little bit of green on the screen can do wonders for mental health. Market mayhem aside, the game is still going, devs are still building and we are on our way to Shangri-La (Crustaco Bay) courtesy of Swimmer Network (TODAY!).
TUS
The market selloff has absolutely crushed AVAX as LFG Foundation holds nearly 2M AVAX and people are worried they are going to dump those tokens (apparently they are locked for a year so the fear is unfounded). Gas this week has been 5x to 20x what it normally is because of the market madness. All of this has meant that TUS has been hammered as well. Below is a chart of TUS priced in WAVAX. All things considering, it hasn’t done too bad. At the time of writing, we are seeing a nice pop with the migration to Swimmer.
Swimmer Network
We did it guys. Swimmer Network is finally here! We’ve been given initial details and network fees will start as follows: 50% of network fees will be burnt (up from an initial estimate of 25%), 40% will go to validators, and 10% will go to Swimmer Ecosystem.
If you haven’t already, you need to add Swimmer Network to your wallet (here) and bridge your assets over (instructions here). You can bridge up to 30 crabs at once. I bridged my crabs over this morning and for the most part it was a smooth process. I paid 3 TUS (~$0.036) for my first mining transaction. It felt like this:
Crab NFTS and CRAM can only be bridged to Swimmer (not back to the C-Chain). CRA and TUS can go to and from Swimmer Network. There will not be a DEX on Swimmer to begin with so you’ll need to bridge back any TUS or CRA that you would like to trade.
Adventure Mode
The team released details of Adventure Mode this week. Adventure Mode is open for players to play for an unlimited number of times (Bonus rewards will be given when a stage is first cleared).
Adventure Mode will reward players with:
Player EXP
Crystal Shell (for Crabada levels)
Unlocking Special Mining Zones (for Materials)
*Materials are NOT available through Adventure Mode, and only obtainable through Battle Mining & Looting.
Players will be able to access new Special Mining Zones for Battle Mining & Looting after they have cleared specific stages in Adventure mode.
The Adventure Map contains multiple nodes with a structure as below:
Normal node: [1-> 4], [6 → 9], [11 → 14], [16 → 19]
Small Island nodes: [5, 10, 15]
Boss Island node: [20]
Players can only unlock Special Mining Zones in Small and Boss Island nodes
The Adventure Map includes: Treasure Isle, Zahara Tombs, Frozen Falls, Volcanic Peak and Soulful Seaway
Battle Game
Yesterday the team released more info about Battle Game rewards (here). There’s a lot of info and my guess is it will become more clear as soon as we can actually play Battle Game. To summarize:
Players will be rewarded CRA, Materials, Crystal Shells and User EXP.
Materials can be combined to create TUS. Materials will vary depending on the ming zone.
5 specified Materials are required each time for crafting $TUS which works out to 51 TUS each round of crafting.
Players will be able to mine every 60 minutes (with a 60-minute cool down) and loot every 30 minutes (with a 30-minute cool down). This would imply that a player can mine 12 times a day and loot 24 times a day. However, if you take into account the Energy Bubbles, you’ll only be able to mine 6 times a day and loot 24 times a day.
Rewards for Battle Game seem roughly the same as Idle Game
Appears as though looting is heavily incentivized.
Below is a basic calculation of max TUS based on Material crafting and food spent. This is probably missing some key information (how do crystal shells and leveling up affect this?) but it’s worth doing anyway.
Daily Active Users
This week we saw weekly Daily Active Users (DAU) shrink for the first time I can remember. Given what’s happening in the market, it isn’t surprising that we’ve seen some contraction in users. As of May 9, DAU for the past 7 days:
Idle Game DAU: 7,714 (-1.24%)
Marketplace DAU: 755 (-2.33%)
Marketplace Activity
Marketplace activity has been trending up and to the right the past few months. However, we can also see a sharp drop in recent Marketplace activity via data from P2EAnalytics
Tweet of the Week
Miko is back with another economy update with data from his new startup P2E Analytics. Check out the tweet thread for more info on inflation, breeding, population growth and marketplace activity.
As a side note, I’ve teamed up with P2E Analytics to create more content about the Crabada ecosystem. Stay tuned for more info.
Crab Radio
This week’s Crab Radio covered what we have all been waiting for for the past 6 weeks: Swimmer Network launch & Battle Game.
Keeping the game on Avalanche was unsustainable. We have outgrown the chain.
Will be interesting to see how economics of Swimmer Network work out: TUS burn, ecosystem grants etc.
Appears that you should play adventure mode to unlock special mining and looting zones first then you can earn the materials to craft TUS.
Particular islands have different materials that you need to craft TUS.
Appears that rewards for Battle Game are the same for Battle Game as Idle Game.
Brought up the issue of Battle Game rewards - are they enough to incentivize people to play Battle Game if we have to split earnings 50/50 with a Disciple?
Battle Game allows players to play for free which can help ramp up Daily Active Users.
Battle Game will be cross platform (iOs, Android, Windows).
Crabada team is launching a new blockchain AND a new game.
Team eventually plans for a DEX and other applications on Swimmer.
Big shout out to the guys at Crab Radio. I salute you sers for rallying the community each week. Whether its deep alpha or just venting frustration over the current melt down, you guys are doing great work. I love tuning in each week.
Important Dates
May 13th [TODAY] - Migrate to Swimmer Network
May 15th - Battle Game
3x CRA Rewards Event - TBD
That’s all for this week. Swimmer Network is finally here and Battle Game is just around the corner. I know there’s a lot of pain and misery right now in the markets but markets will bounce like they always do. Spend time with your family and friends. Take a crypto break if need be. My DMs are always open if anyone needs anything. Stay strong fellow snibbers!
#snibsnib