Recently I came across a new GameFi called Space SIP. I watched closely to the project for a week and was quite impressed by its coming Tokenomics update regarding faucet and sink mechanism per v1.3.1 release on 2/19.
Now they are going to have a 30 days 3x LP staking reward boost event to encourage its Liquidity participation on v1.3.1 launch. Seize the opportunity to earn an extra bonus!
Following are the reasons why I think SIP will be a good investment.
Excellent Online Support
I never played a GameFi with such great online support quality. SIP's moderators are always there in the community to help forward players' issues back to devs.
Once I encountered an issue in NFT marketplace - made an offer to purchase a spaceship but none displayed in my listing page. I sent the issue to a moderator then went to bed and when I woke up the issue was fixed. What a surprise!
Can check on their TG community and you'll know how active the moderators are.
Community Oriented
I joined the project right at the time game version 1.3 was released. One of the main changes that got community concern was about NFT lifespan - If players want to have best NFT performance, they need to "revive" them when the NFTs get old, like after 60 days usage.
As you may already know that some players cannot understand it's a must for sustainability. They need more explanations and ask for adjustments to have the transition to be more graceful.
It's amazing that the dev team quickly responded and announced corresponding refactors per community requested just in a few days. They successfully flipped the situation.
Healthy Economy
The project has many ways to have the tokens to be controlled, circulated and burnt. Digested as below:
- [Tokenomics] A token transaction fee of 2% - 1.5% will go to the REWARD POOL / 0.5% for WEEKLY BURN
- [Tokenomics] An early LP staking withdraw fee from 0.1% to 2%
- [Game] NFT Marketplace 5% transaction fee
- [Game] 2% fee for tournament game
- [Game] Minimum withdrawal tax of reward is now 5% instead of 0% (v1.3)
- [Game] Token minted by in-game reward is under controlled by "Age" mechanism (v1.3)
The game was released on 30th November, 2021 and the price started at $0.03. With the stimulation of some arbitrators the token price reached its ATH at $1.9 last November.
At that time the SIP NFTs had no lifespan and worked as perpetual motion machines that generated rewards for players forever. The selling pressure from arbitrators, private sales, players rewards and GameFi winter made the price go into downtrend until now.
Currently it's back to $0.03 where it started and enters an accumulation stage that price remains stable for a month. Not a bad entry point if you asked me.
Future Stableness Factors
The SIP team is quite ambitious in building up a long term system by joining forces of known DeFi entities. As we can see from the roadmap, they want to achieve their goals by:
- SIP DeFi - LP pools, NFT Lend/Borrow and owned LaunchPad
- Space Metaverse - A shared framework to have more partners / customers
- Ecosystem - CEX/DEX listing
It's not hard to tell that the SIP team focuses on expanding their circle of influence. With the help of these DeFi entities, the cash flow brought from each function could provide a strong support for the SIP Space game.
Plus the community attitude is positive. The tokenomics becomes more stable than ever after v1.3.1. So far there are 25000+ addresses who hold $SIP tokens.
If the team delivers everything they planned on the roadmap(so far they are always on schedule). Hopefully we can see SIP reach 6 digits holders in the coming months.
