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Rainmaker Games Announces Its Native Token $RAIN Is Staking on Rainmaker Platform

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$RAIN is the token behind Rainmaker Games, a platform dedicated to helping users all around the world engage in play-to-earn games in the most seamless way possible. 25 million rain tokens are currently sitting in the reserve. Those tokens are the ones that went unsold during the project’s fair token launch that took place via Copper Launch last month.

That reserve is how users are going to get paid for staking their tokens and supporting the project. But just because it’s starting out with 25 million tokens, doesn’t mean it’s going to stay that way. The project might increase the amount of $RAIN tokens available and staking pools as tokens begin to vest and get unlocked through the Community Incentives reserve.

Rainmaker Games is going to make it much easier for gamers to earn revenue while playing games and interacting with each other, and with staking now live, it’s going to reward even those that aren’t playing games but are clearly dedicated to supporting the platform.

It’s time to learn more about the $RAIN token, how to stake $RAIN tokens, and what the potential payout is for users.

The Two Staking Options That Put More $RAIN In User’s Wallets

Rainmaker Games is giving users two simple ways to stake $RAIN tokens: single-side staking and liquidity pool (LP) staking.

Earning $RAIN with Single-side Staking

In single-side staking, users simply deposit $RAIN directly into the staking pool and earn rewards. The pool pays out 20% of the total daily rewards provided by the staking reserve. Users don’t have to do anything else to get that 20%.

The other option is to stake through liquidity pools.

LP Staking $RAIN Tokens

Rainmaker Games is using Uniswap V2 for its liquidity pools. Users can deposit RAIN-ETH Uniswap LP tokens after adding liquidity to the exchange. Anybody using a different version of Uniswap (V1 or V3) will not receive staking rewards, so be sure to use V2. This pool receives 80% of the staking rewards paid out by the Community Incentives reserve.

Staking Bonuses for Making It $RAIN Even More

Rainmaker Games’ staking initiative provides users with a linear bonus structure that multiplies the number of token rewards for stakers that lock in their tokens for a set period of time. The longer tokens are staked for, the greater the bonus.

Here’s a quick look at the bonus reward formula:

1 (standard weight) + The Amount of Weeks locked/52 weeks = The Time Waited Ratio Being Used

Here’s a quick breakdown of the results the bonuses can yield for users:

  • No bonus— staker does not want to lock their tokens
  • 25x bonus— staker locks their tokens for a period of 13 weeks
  • 5x bonus— staker locks their tokens for a period of 26 weeks
  • 75x bonus— staker locks their tokens for a period of 37 weeks
  • 2x bonus— staker locks their tokens for a period of 52 weeks

Instructions for Staking $RAIN

The first step to staking $RAIN is to simply log onto the project’s staking portal. Users then connect their MetaMask wallet by clicking the Connect button in the right-hand corner of the page. Support for other wallets is coming soon.

The next step is to select the desired staking pool (make sure you’re using Uniswap V2). Before clicking the Stake button, users can take a look at the specific details of the pool selected. Clicking the Stake button leads to another screen where the user can choose either flexible or locked-in options for their staking. Locking in means earning greater rewards in exchange for giving up flexibility.

The Rainmaker Games blog offers a more in-depth step-by-step guide to staking.

It’s about to be pouring $RAIN in the crypto gaming world. Gamers and interested stakers can join the revolution by staking tokens or by following the RAIN community on Telegram or the project’s website.

 

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Why Gold Is Beating Bitcoin In 2022

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Bitcoin continues to underperform as a general “risk-off” sentiment has investors driving toward gold as a safe haven asset.

Not Risking It

Concerns about the Russo-Ukrainian war continue. The U.S. inflation struggles at a four-decade high and Fed rate hike fears prevail. The uncertainty extends to the world economy as a recession is expected instead of a recovery. The IMF’s managing director Kristalina Georgieva called it “a crisis on top of a crisis.”

“The war is a supply shock that reduces economic output and raises prices. Indeed, we forecast inflation will accelerate to 5.5 percent in advanced economies and to 9.3 percent in emerging European economies excluding Russia, Turkey, and Ukraine. ” The IMF stated last week.

Reuters recently quoted Commerzbank analyst Daniel Briesemann, who talked in a note about the factors that have “lent buoyancy to gold in recent days,” mentioning the “strong buying interest on the part of ETF (Exchange Traded Fund) investors” and news about the Ukraine war.

“Russia appears to be preparing to launch a major offensive in the east of the country – that is generating considerable demand for gold as a safe haven,” the analyst said.

This summarizes the “risk-off” sentiment at the moment. As expected, equities suffer as investors are selling risky assets and purchasing the ones negatively correlated to the traditional market. Thus, the crypto space is struggling alongside de stocks market and gold is rising.

Bitcoin Outperformed By Gold

Data from Arcane Research’s latest weekly report notes that it has been a gloomy year for the “digital gold.” In the first three weeks of 2022, Bitcoin sank 25% and it is still down by 18% in the year despite its slight recovery.

Similarly, Nasdaq records a 19% decline in the year, having underperformed against bitcoin “by a small margin,” notes the report, adding that “This is surprising given that bitcoin has tended to follow Nasdaq, albeit with higher volatility.”

The general fear over geopolitical and macroeconomic uncertainty has given gold the safe-haven asset spotlight once more. The asset outperformed all the other indexes seen below with a 4% gain.

Physical gold outperforming “digital gold” in 2022 | Source: Arcane Research

Meanwhile, the currency market is performing with “the same risk-off patterns.” The Dollar has been proving its “risk-off” dominance as the US Dollar Index (DXY) is up 7%. The Chinese yuan has taken a hit over concerns about the country’s “zero-covid” policy –which creates issues for the global supply chain– and the slowing down Chinese economy. In contrast, investors have been running to the US Dollar for safety.

Bitcoin supporters usually refer to the coin as “digital gold” alleging it is a safe haven asset, and this narrative had held well while BTC had been “uncorrelated with most other major asset classes,” but the tide is shifting with the 2022 scenario as investors are rather placing the coin “into the risk-on basket”.

A previous Arcane Research report indicated that bitcoin’s 30 -day correlation with the Nasdaq is revisiting July 2020 highs while its correlation with gold has reached all-time lows.

A pseudonym traded noted that “As Bitcoin adoption goes on and more institutional investors enter the market, the correlation of BTC and stocks becomes more and more tight. That is a paradigm that the crypto world struggled to come to terms with in the past but is now more real than ever. A healthy stock market is good for Bitcoin.”

Meanwhile, the general sentiment of traders seems to be bearish, with many saying that the coin could visit the $30k level soon.

Bitcoin
Bitcoin trading at $39k in the daily chart | BTCUSD on TradingView.com

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Attendees talk the future of NFTs

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The crypto community headed to Nassau in the Bahamas this week for the inaugural Crypto Bahamas conference.

Like most conferences, panels fill up the agenda and on Wednesday the topics at Crypto Bahamas ranged from NFTs to crypto in sports and to asset allocation in Web3. During one particular conversation, titled Evolution of NFTs: Culture, Utility and Regulation, panelists had some insightful musings on the NFT market.

To put the Crypto Bahamas conference into context, Sam Bankman-Fried’s cryptocurrency exchange FTX moved its headquarters from Hong Kong to the Bahamas in Sept. 2021. It recently inked a multi-year partnership with Anthony Scaramucci’s investment firm SkyBridge Capital, and its events arm SkyBridge Alternatives, or SALT. They jointly presented the conference.

That’s why the NFT panel consisted of multiple perspectives from Tristan Yver, head of strategy at FTX U.S., Joseph Doll, attorney at Fenwick law firm, Roham Gharegozlou, the chief executive officer at Dapper Labs, and Sarah Hammer, the managing director of The Stevens Center for Innovation in Finance at The Wharton School. Zack Guzman, writer for the Meta-owned newsletter platform Bulletin, moderated.

Gharegozlou pointed out how new the NFT market truly is when “most people have only been thinking about it for a year and a half,” making valuations “very immature.” As the CEO of Dapper Labs, the company behind NBA Top Shot,  Gharegozlou recognized that “utility, rewards and the how you value and NFT is primarily based on the strength of that of the community.”

He added that a good way for an NFT collection to build a strong community is to have multiple tiers of scarcity. In the case of NBA Top Shot, at the higher price end there is extreme scarcity, but there are also millions of “common” moments so that people can “get their first NFT and see how it feels without breaking the bank.” 

Tristan Yver echoed that the current valuation and pricing model for NFTs is based on a collective perception on value based on the amount of people willing to buy an asset for a certain amount. He anticipated a “movement away from this consensus view to a more unique singular view where people buy things that resonate with them rather than what resonates with a larger community.”

Joseph Doll chimed in to say that “communities need to be thoughtful about democratizing access.” There are some “massive” barriers to entry to certain projects, he said, including not being early enough or not having enough capital at the time. He questioned, “That’s not what crypto is about, right? It’s kind of about the exact opposite of that.” Democratization, he suggested, can come in the form of derivative projects at better price points.

Another important point brought up by Yver was the reality of scams, especially on Discord and Twitter. He said that “we need to move past security aspects to be able to really bring in the next large mass of users.” He recommended talking among family and friends or asking a Discord moderator to make sure “you click the right link when minting that NFT” because “wallet security sucks right now.”

Gharegozlou even said that Elon Musk, the new owner of Twitter, should use Web3 to fix Twitter’s fraud problem, just as Discord should use Web3 authentication and verification as well. “Once NFT’s are the sort of identity bridge across all these different social networks, identity and assets, authenticity, provenance,” then the system can be more resilient he added.

When asked what “main alpha” the audience should bear in mind, Doll said to engage with and be part of these NFT communities even if it’s “scary,” because getting scammed is a “part of the journey.”

Sarah Hammer, who leads the Cypher Accelerator at Wharton business school, said that the school is launching an incubator specifically for NFT projects in partnership with Dapper Labs because the “NFT model is a business model for the future.” She emphasized that the greatest way to grow and innovate in the space is to increase education efforts in order to get more people learning and working together.

Related: Goldman Sachs reportedly eyes FTX alliance with regulatory and public listing assistance

Recently the Bahamian government allowed residents to use digital assets, including the world’s first central bank digital currency, or CBDC, to pay for taxes in 2022.