LAST WEEK
A pile of NFT garbage assembles itself into a desperate city – the Down Bad Doldrums, a doorway to another planet, a HEROIC J4 call in an all or nothing game of holographic poker…
We find ourselves ripping through the endless membrane of spacetime aboard the newly acquired vessel, THE SUITS scrawled haphazardly on the side in warp-resistant paint, as intrepid captain Fib Newton reflects on the journey thus far…
Is there power in memory, spotty as it can sometimes be? Does it bind or does it set one free from the past?
For though the path may tread in directions both astonishing and bizarre, time remains ever a tailwind, pushing forward, bearing answers deeper than thought…
—–
Dipping his quill into a nearby digital inkwell, Fib’s reflections pour out in an uncharacteristically formal cascade of facts and figures…
-Captains Log-
Suitizens,
What a ride it’s been. Time to check in after rounding the corner of our FOURTH major planet. We hope you’ve enjoyed the journey so far, but it seems pertinent to EXTRACT the major elements of our Odyssey series and lay them out PLAINLY… for science!
To accomplish this, let’s begin with a little timeline. Suites Odyssey 1 landed on August 17th this year – with our token and staking program launching shortly after on Aug 31.
Since this time…
- ~50% of Suites have been staked (steadily increasing daily)
- 13m $SUITE tokens have entered circulation via staking
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Now, to dive a little deeper into staking. Our first pool yielded 1x/2x/3x (33/66/99 $SUITE/day) in accordance with each Suite tier. This pool began the day of our token launch announcement – again, Aug 31.
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As an aside, if you’re unfamiliar with our Suite tiers they are the SIZE and CAPACITY of each Suite. The total capacity of the Suites per tier goes like this:
Club : 8 person capacity, smallExecutive: 16 person capacity, medium
Owner’s: 32 person capacity, large
These capacity numbers aren’t final, but this gives you an idea of the scale between each tier.
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Anyhow, on Sept 28 we dropped a big token update – shifting yield and revealing elements of $SUITE tokenomics.
The new yield is 1x/10x/100x. This reflects the SUPPLY of each Suite tier, where there are 10x more Club Suites than Exec Suites, and 100x more Club Suites than Owner’s Suites.
Okay, so let’s recap some of the token details… for science!
$SUITE
Total Supply: 444,444,444 FIXED SUPPLY
Total Staking Pool allocation: 133,333,333 (30% of the total supply)
Staking Pool Yield halving: Every ⅓ of the 133,333,333 allocation that is mined HALVES the yield. This means that each pool will be 44,444,444 $SUITE with THREE total phases. The yield will occur by the following parameters…
The first 44,444,444 (which is now down to ~31,000,000 as of writing this) has the following yields/day
- Club – 176/day
- Exec – 1760/day
- Owner’s – 17,600/day
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Once the first 44,444,444 pool is completely drained the halving occurs. This is not based on TIME, it is based on the pool being drained. The next pool will yield the following…
- Club – 88/day
- Exec – 880/day
- Owner’s – 8,800/day
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- The final 44,444,444 will be yielded again at HALF the emission rate… and this will be ALL the $SUITE mineable by staking Suites.
- Club – 44/day
- Exec – 440/day
- Owner’s – 4,400/day
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Get it? Alright moving on.
UTILITY NETWORK
Now… where is all that $SUITE going you may be wondering. Let’s talk about the current network of utility ALREADY being established week by week for our POWERFUL new token. Keeping it simple…
- Fantasy Sports (currently via Phantasia)
- Raffles / Token marketplace (currently via the Famous Foxes site)
- Poker (currently using the Honest Poker platform)
- ??????
Of course the mantra is STACK IT UP. However, as Suitizens know ALL TOO WELL, stacking it up sometimes means laying it down. How else can one hope to outpace their scheduled allowance than taking CALCULATED RISK?! Isn’t that what we do here?
So, how much $SUITE has been LAID DOWN into these various utilities so far?
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Fantasy Sports contests – 40,000 $SUITE
Raffles – 1,100,000 $SUITE
Poker games – 35,000 $SUITE
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These RISK PLAYS have resulted in roughly the equivalent of 100 SOL in winnings/prizes within just a small handful of weeks of $SUITE activity!
Stacking it up the HIGHEST can mean taking chances, my friends. Be brave.
Cosmic Wake
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One last thing to mention is the activity and major string of BIG BOY sales our token has already driven. We’ve seen TONS of Suites move as a result of the token release, including multiple 190+ SOL sales as convicted Suitizens and newcomers alike plunge DEEPLY into the STACK IT UP MANTRA.
We are seeing increased activity, crossover participation and our INEVITABLY-actualizing narrative begin to take hold in the discussion around our project.
In short… We are building up a GLORIOUS momentum, all before some of the more MAJOR feature implementations we are cooking up even begin to peek out from behind the cloudy nebulae on the horizon of spacetime.
As time goes on, our network of utility, our use case and our VISION will only increase in velocity as they permeate through web 3.
We are THE project for web 3 sports fans and gamblers, a multi-billion person market, and the world is slowly waking up to this fact.
Sometimes it’s hard to stay steady, sitting in this captain’s chair, knowing the collision with destiny is so inevitable…
But there is only one direction this will move, can you guess which?
Onward.
P.S. We have a SUPER FUN event happening 10/15… this Saturday. Don’t miss it.
Talk soon,
Fib Newton, CM
