This AMA event was held by BabySwap which invited DungeonSwap CEO to talk about their newly launched P2E game - Ancient Dungeon. It introduces a novel dual gameplay of Play-To-Earn and Risk-To-Earn while establishing a sustainable and healthy ecosystem. The following is the transcript FYI.
Could you please introduce yourself to the community?
Sure. I am the CEO of DungeonSwap and has been the project owner since we launched DungeonSwap back in Apr 2021.
This has been a long journey since the half year ago and we are really excited to see how DungeonSwap has grown in the previous months together with the BSC.
We evolved from a pure concept and a piece of white paper & a website, and then to a V1 Dungeon "Risk to Earn" model, and now we are finally evolved to a V2 "Play to Earn" Model.
Today we are very excited to proudly introduce our latest release of our Play to Earn model and more to the BabySwap community.
Could you give a brief overview about the project?
Yes sure. For details you might look at our GitBook but I will briefly introduce about ourselves in this live chat.
DungeonSwap is a table-top RPG style web game on the BSC with NFTs.
DungeonSwap offers games called "Ancient Dungeon" and "Classic Dungeon" which user can have fun playing while earning from battle reward.
If you remember, back in Apr 2021 there were so many yield farms emerging on the BSC and I was wondering why are there no people building some game-like projects like Fantasy RPG game.
And thats why we are here.
What is DungeonSwap offering and what is the difference between V1 and the new V2 you mentioned earlier?
Sure. Basically V2 is our latest Play-to-Earn mode, namely the "Ancient Dungeon".
The "Ancient Dungeon" is a play-to-earn game where users can earn sustainable rewards, in terms of $DND, our token, by fighting various enemies as they explore deeper to the dungeon.
This is also what we call the "Explore and Earn" concept introduced by DungeonSwap.
The “Classic Dungeon” was the originally V1, an alternative playing mode where users can earn tokens by risking a small amount of $DND token.
We call it the "Risk-to-earn" model.
From both dungeons, players can also earn NFT equipment randomly during battle which will help them to win the battle more easily.
So are there any eligiblity criterias or anyone can participate in the aforementioned "ancient dragon" game?
They will have to get themselves a "Relic", which essentially is a NFT equipment that users need and they can enter the dungeon for free and then start earning.
The relic serves as an equipment that can help them defeat monsters while also serve as an entry ticket to the dungeon.
Each relic is unique and can be stronger or weaker (of course we have our artist to design these beautiful 3D animations).
And therefore they can be traded on the secondary market.
So, what's now the role of NFTs in the game?
In the DungeonSwap universe, all equipment are NFTs.
Basically you can earn NFT equipment when you play in the dungeon, very much like what you would do in a Fantasy RPG game. We don't do primary sale of NFT equipment like sword, shield, or potion.
You can get all of them from the Dungeon yourself.
We hope users to explore themselves in the dungeon and earn NFT while they play, instead of requiring them to purchasing a bunch of NFTs before they are allowed to play.
and for free, of course.
but if you want, you can also purchase from a secondary market.
Can we know the market place that it can be purchased?
Yes, exactly. The aforementioned Relic is a special case because they are directly related to the entry of Play to earn mode which we would need funding.
Currently we are developing our native market and that will be available soon. But we have also partnered with Babylons who are helping us to list our NFT equipment.
What is DungeonSwap's tokenomics; and how it different from competitors?
The tokenomics of DungeonSwap V2 is carefully designed to sustainably balance the minting of token & burning of token.
Essentially incorporating the new play-to-earn model and the play-to-burn(risk-to-earn) model.
The concept of "Sustainable P2E" was emphasized by DungeonSwap for their P2E model where the long term target is the sustainability of income generated for players and the long term survival of the game and the $DND token itself, of course
Competitors in the market, including the biggest players (well we don't want to talk about our competitors..), consider P2E reward as "a portion of the total supply" or "a limited marketing budget"
Which by nature would one day run out of reward. This makes their "play-to-earn" games are, by definition, non-sustainable.
DungeonSwap's vision, as indicated on our white paper, is to build a sustainable, user-centric and entertaining decentralized ecosystem.
This vision has never been shaken, and the migration to a Play-to-earn gaming model means we are committed to develop a way to ensure such P2E experience would be a sustainable, user-centric and also entertaining one.
How do you prevent hackers to attack or manipulate the game result (for example random number generator)?
Technically speaking, when talking about hacking on the blockchain, usually what we mean are the security of the smart contracts.
And hacking play to earn games like ours is to find loophole in the smart contracts which one major way is to hack the randomness.
Most (if not all) of our competitors when talking about randomness, they use "previous block information", which mean in principle all the random results are predictable if the hacker spend enough effort to decode the information and they can then hack the "win or lose" result.
Some competitors chose external service like chainlink but that costs a huge fee.
DungeonSwap's invention is that we use "future block information" when generating our random number. This is essentially impossible to hack because each user, when they press the attack button, nobody on earth would know what the result will be, because the future block is not generated yet.
or "send the attack transaction"
This makes our battle result unpredictable by anyone.
I'm very sure with this format, there will be nothing like this with the DND's smart contract
Very true, we have never seen this on our competitors.
So now, what is the future roadmap of DungeonSwap?
Well when talking about short term, we are working very hard on Market & Smithy. We target to release the native market very soon and the Smithy after. We expect that they will all happen by Nov.
For the native market of course users can trade their NFT there, and they can also convert their older version of V1 NFT into newer V2 which is more gas-saving.
For Smithy, they can upgrade their NFTs by burning some of their weaker NFTs to create unique one that cannot be obtained in the Dungeon.
When talking about longer future roadmap after Nov, we have a lot of plans but we cannot reveal too much at this moment.
What we can tell you guys about our V3 as a teaser is that we call it DungeonSwap: The Realm now.
Perhaps you can guess a little about what will there be in the future!
[Community] What is difficulties and chances that DND face right now while crypto/blockchain market is still young and need time to grow?
The biggest difficulty is that we are trying our best to grow to the market. But we are scaling up our marketing to new users. We are working with big partnerships which we cannot reveal so far.
I can share with you a bit of our internal marketing strategy.
[Community] Token burn is important to increase value and price a token? do u have buy back or maybe burn system and how does it work??
This is a very good question. The burning of tokens will be done via our V1 dungeon, and also from the market and possibly smithy also. In long term the "play to earn" and "pay to win" model will be living together to reach a long term equilibrium. For details, look at our tokenomics. https://dsmods.gitbook.io/docs_dungeonswap/tokenomics-a-sustainable-gamefi-design
[Community] STAKING is one of the STRATEGIES to ATTRACT USERS and HOLD Them and long term. Does your PROJECT have plan about to Staking?
Sure. We keep our defi features (this is how we started from the beginning) and investors can earn from staking and providing liquidity. This is also shown on our latest tokenomics diagram (hope it is not too complicated to comprehend!)
And basically we divide our offering into different types, where users of different objective can choose the product they prefer.
Do you have AUDIT certificate or are you working to AUDIT your project, so that the security of the project becomes more secure and reliable?
The source code of some of the smart contracts can be found on our github. Due to the extremely competitive market, not all the smart contracts are included here. Going on in the future we will release our source code as necessary. Regarding audit, we have our audit report here https://github.com/TechRate/Smart-Contract-Audits/blob/main/DungeonSwap.pdf. We are engaging more auditors to audit our new smart contracts. Results will be shared once available.
What is the biggest challenge you face currently in terms of becoming a successful project?
The biggest challenge is of course to build something innovative and sustainable in the crypto realm. People can make vague promise and usually let them unrealised. We think of ourselves like the "wild west developers".
We are in the area where no one has been there before, and all actions that we take will make history. This is the most challenging and yet also the most exciting part. And luckily we have a big community to support us along the journey.
We hope to build something useful and fun to the world beyond pure financial earning.
