Original author: Cookie Original source: Rhythm BlockBeats
On January 7, a new token game called “The Rug Game” appeared on the market and quickly attracted market attention. The game's token system consists of the governance token $TRG and 10 game tokens $T, $H, $E, $R, $U, $G, $G*, $A, $M, $E* . Currently, the governance token $TRG is not listed yet. Among the ten game tokens, $T has the best market performance, with a cumulative increase of more than 4000% from the bottom of the market launch to the historical high of price. Currently, the price of $T has retreated a bit, with a market cap of approximately $443,000 and a 24-hour trading volume of nearly $148,000.
The one with the smallest market cap and 24-hour volume is $G*, with a current market cap of approximately $37,000 and a 24-hour volume of approximately $18,300. Despite being the weakest of the 10 gaming tokens, $G*’s gains are still staggering, exceeding 2000%.
So, what is the background of "The Rug Game" and what is its game mechanism? (Risk warning: BlockBeats reminds users that the security of this project is unknown and the price of related tokens fluctuates greatly. Participating users need to understand the game mode in detail and participate with caution.)
Background – Closely related to CultDAO
Although CultDAO officials did not indicate that The Rug Game was a project launched by them, on January 2, before the project was officially launched, @SkyWalker64007 had discovered the correlation between The Rug Game contract deployment address and CultDAO-related addresses:
Image source: @SkyWalker64007
From the perspective of game mechanics, a major purpose of The Rug Game is to burn $CULT. Since the project went online, $CULT worth approximately $43,000 has been burned, with the highest increase in $CULT exceeding 80%.
$CULT combustion (Image source: @DudeShib)
$CULT Price Trend
Next, let’s take a look at the mechanics of this token game.
Game Mechanism - The last place is eliminated, a winner-takes-all "survival game"
Game play will begin 30 days after the launch of the game tokens. The reason why we say this is because a "last elimination" occurs every 30-60 days - the liquidity pool of the game token with the lowest score will be automatically removed, which is called "Rug" in the game. Players cannot know the exact date of "Rug". The first "Rug" may occur on the 30th day after the game token is launched, or it may be later. Therefore, as each round runs closer to 30 days, fluctuations are expected will be more intense.
The game token of this "Rug" will be the one with the lowest score. The current score situation is as follows (click here to view the real-time score situation):
It can be seen that the game token with the highest score is $T, and the lowest score is $G*. The "GAMEOVER" column shows that the $G* with the lowest score will be "Rug", but as the score changes, the display will also change accordingly. Change
The score is tied to two factors, which means there are two ways to score.
1. Game tokens with higher transaction volume will get more points. This requires communities with different game tokens to promote as much as possible to attract new players to join their respective camps.
2. Burn CultDAO tokens $CULT or $TRG on The Rug Game official website to "bribe" The Rug Game DAO. Players can choose the beneficiary camp of "bribery", and the amount of $CULT or $TRG burned * 1.5 will be counted into the score of the corresponding camp. For example, $A, one of the game tokens, has 90 points, and a player burns 20 $TRG and chooses to have the points credited to $A, then the score of $A will change to 120 points.
50% of the "bribe" amount received will be distributed to the stakers of $CULT or $TRG according to the token type, and the other 50% will be destroyed.
After each "Rug" occurs (that is, the lowest-scoring game token is automatically withdrawn from the pool), $TRG stakers and the highest-scoring game token holder will receive rewards:
1. Rewards for $TRG pledgers: The remaining ETH in the automatically withdrawn pool will be used to automatically repurchase $TRG. The repurchased $TRG will be distributed to The Rug Game DAO and $TRG pledgers. The distribution ratio is unknown. . $TRG will provide $dCULT ($CULT pledge token) and $uRVLT ($RVLT pledge token) who hold any of the 10 game tokens (just 1 is enough). $RVLT is a token within the CultDAO ecosystem. Token) holders conduct airdrops.
2. Rewards for the game token holders with the highest score: After the "Rug" occurs, the game token holders with the highest score will "winner takes all" and receive the transaction tax accumulated from all other game tokens. The distribution ratio is unknown.
All game tokens are subject to a 4% transaction tax:
1. (The portion received by the game token holder with the highest score) 1% is stored in the corresponding contract in ETH
2. 1% buy and destroy $CULT
3. 1% purchased and destroyed $TRG
4. 1% falls into the black hole
The game logic of this mechanism is generally self-consistent, but it also has two shortcomings:
1. The round cycle is long. This type of token game has a strong "attention economy" attribute, and it is important to "maintain popularity." With a round cycle of 30-60 days and 10 game tokens, the total game cycle will reach 30 * 9 = 270 days in the shortest case, which is not conducive to maintaining "attention". If there is no good strategy to maintain the popularity, the game rewards (transaction tax) will also be reduced accordingly, which in turn will affect the vitality of the project and fall into an infinite loop.
2. "The weak will always be weak." Game token communities with lower scores cannot easily attract more people to chase scores, and must rely more on gathering existing community strength to "bribe" to save themselves. But the community needs to be built, and reaching a consensus cannot be achieved in a day. Will anyone come out to take on the important task of community building? If not, it is easy to fall into the "Prisoner's Dilemma" - although everyone working together to "bribe" may be able to save this game token, but "join if you can't beat" to buy the strongest game token, will it be more harmful to me? favorable? In addition, the official did not say that points will be reset every time a "Rug" occurs. If it is indeed not reset, the situation of "the weak will always be weak" will inevitably become more serious.
Conclusion
The Rug Game’s official tweet clearly stated their purpose of launching the game – to burn $CULT. After that, they will launch another game on the Modulus chain to burn $RVLT (Modulus is a new ZK chain developed by CultDAO, and $RVLT will be the first token on it).
The Rug Game’s deep connection with CultDAO has also led to the diversification of investment strategies in the project. Among the players who are optimistic about the project, there are some who are more aggressive and directly buy the strongest game token $T, while others are more conservative and buy $CULT. We still need to continue to observe how strong the new vitality The Rug Game can inject into CultDAO.
(BlockBeats reminds you again: This article does not constitute a recommendation or investment advice. In a bear market, such highly speculative projects are more likely to become market hot spots, and they are also more likely to have accidents leading to violent fluctuations. Please remain cautious and avoid FOMO.)
(The above content is excerpted and reprinted with the authorization of partner MarsBit, original text link | Source: Rhythm BlockBeats)
Statement: The article only represents the author's personal views and opinions, and does not represent the objective views and positions of the blockchain. All contents and opinions are for reference only and do not constitute investment advice. Investors should make their own decisions and transactions, and the author and Blockchain Client will not be held responsible for any direct or indirect losses caused by investors' transactions.
This article The Rug Game: A "survival game" in which the last one is eliminated and the winner takes all first appeared on Blockchain.
