Hatake came and went as quick as summer usually does. While we fell short of some expectations during our fourth season, we have a major project development that will freshen things up as we break ground on Season Five.
Season Four Review
We prioritized partnerships and community in our fourth season. This was evidenced by our farm with Inu Moo, and the various events we had with AlgOctopus. We hosted X spaces with both projects and hope you gave them a listen.
Beyond the partnerships, we tried to engage with Algofam through cool initiatives like Mint-Predict-Win, Burn For Blops, the launch of Gainify’s Fantasy Premier League, and the deployment of our mascot’s wanted poster. Unfortunately, two of the events listed above had exactly zero participants.
For community events and programs to work, there has to be willing dance partners. With the lack thereof, we’ll hold off on doing engaging community events until there is sufficient demand for such endeavors. It takes a lot of planning, design, and execution to deploy these types of events. If, through lack of interest, the community prefers we focus this time and effort elsewhere, we’ll certainly comply with that request.
Beyond the community events, we deployed four new farms and pools during our fourth season. Gainers had the ability to earn GAIN, INUMOO, PEPE, and USDC through these programs. While the TVL in the farms and pools was far less than prior seasons, this could partially be attributed to the poor conditions the overall crypto market saw through August.
A positive surprise for Season Four was the ability for GAIN liquidity providers to earn TINY as a by-product of voting in Tinyman’s first farming program cycle. We sincerely thank everyone who voted for GAIN, and hope to receive your votes in the next one!
Breaking Ground
Over six weeks after winning third place in Change The Game, we finally received the USDC award. While we could have used the funds to do the consummate crypto team trip of hookers and blow to Vegas, we decided to appropriate these funds for the deployment of a DAPP.
Since our inception we targeted season 9+ for the development of our yield optimizer, as outlined in our one-pager. But we can’t put the cart before the horse. We want to have functionality live and in place before we start concepting the yield optimizer. This functionality includes wallet connect, staking/farming services, and revenue generation.
We’re delighted to announce that work has begun on these features, and this is where our seasonal theme is derived. We’re breaking ground by teaming up with seasoned developers in the Algorand ecosystem; and are in the process of coding a DAPP that reflects the ethos of our project — to drive TVL & activity in Algorand. Look for more info to come out about this DAPP as Season Five progresses.
Farms & Pools
We will again have our GAIN-ALGO earn GAIN farm on Tinyman running for Season Five. For the time being, these farmers can also earn TINY by enrolling in the secondary farm program. Please take advantage of both!
As mentioned in past articles and announcements, incentivizing GAIN-USDC liquidity will be a priority for the foreseeable future. But, we’re switching things up this season. GAIN-USDC LP providers can earn USDC this season rather than GAIN. The farm will be on Cometa and carries a 15d time lock for claims.
Near the end of the fourth season, there were four different stake pools available for GAIN. We only provisioned two of those, with one being a mid-season surprise. This season the slate will be cleaned of all the different GAIN stake pools, but we’re bringing one more back as we break ground for Season Five.
Gainers can stake GAIN and earn ALGO on Cometa. The pool is similar to the PEPE pool that ran through S4, in that it is a 30d pool with a 30d time lock. If stakers want to earn some precious ALGO, all we ask is a small commitment in return.
gain.algo
When we launched gain.algo NFD segments, we offered an airdrop to coincide with the first 100 mints. The first 45 or so received their airdrop, but those that minted after are still waiting for theirs. We had said the airdrop will happen when mint 100 arrives, but it’s taking a bit longer than anticipated to hit that value.
If we hit 100 mints before Season Five ends, great! If we don’t, we’ll be airdropping GAIN & GBAG to everyone who is owed. This will mark the conclusion of the airdrop program, and any mints after the S5 end date will not receive an airdrop — even if they fall under the 100 value.
Mint your own gain.algo NFD or view their progress by following this link.
Burning GAIN
We rolled out our first and second iteration of Burn For Blops in S4. In the first round, snapshot minters of gain.algo NFDs were eligible to participate. Whoever burned the most GAIN won a BLOP. The Gainify team matched the total amount burned during both competitions, which has contributed to over 200k GAIN permanently removed from circulation.
The second round, open to any NFD holder, of Burn For Blops is currently on-going and continues to melt more GAIN. With the reduction of GAIN emissions in farms & pools this season, and the impacts of burns, we expect to see far less sell pressure on the token.
We’ll continue to run creative burn events through Season Five and beyond. Ultimately the goal of these promotions is to work together with the community to remove GAIN from circulation. Join us in the fun!
GBAG
In our Hatake article, this was written about GBAG:
The original premise of GBAG was that we created the token, setup a distribution method, then would rely on the ecosystem to carry-on from there; and the time for that is now.
Nearly 30 days later, there hasn’t been much community/ecosystem involvement with steering GBAG in a particular direction. Nevertheless, we are going to place some distance between GAIN & GBAG. These measures include:
- Removing the GBAG tickers & channel from our Discord server (can still talk about it #market)
- Removing GBAG from the header of our website
- Decommissioning the existing GBAG X account
- Working direct with interested community members to hand off control of the project
We have seen communities take the lead of projects many times in crypto. Algorand has seen this personally with projects like COOP. Ideally, community members interested in designing the future of GBAG will step up to the plate and take over project ownership.
GBAG is fully distributed, the GAIN team no longer holds a significant amount of GBAG, and the token still maintains strong ties to Algorand history through the project’s name & branding. If you, or a group of people, are interested in taking over community leadership of GBAG, please drop in our Discord and say as much.
All it would entail is setting up dedicated community servers either in Discord or Telegram, along with a community driven X account for communications. From there it’s up to the new leadership to figure out a path forward. We will maintain the gainify.xyz/gbag URL and can put edits there at the request of the new community leadership. Or, the new leadership can create a dedicated website. We’re open to either route.
This has always been the design for GBAG. The following quote is taken from the original launch article back in May
But, Algorand’s first billion dollar meme token will have to forge its own path — one decided by the Algofam.
As exactly 0% of the supply is reserved for the Gainify team, liquidity, marketing, or any other tokenomics allocation, the growth and success of GBAG will be determined by the people mining it.
Hopefully someone, or some group, steps up to break ground in their own fashion.
Team Changes
In a more somber note within this article, we have to announce a change to our team structure. Social Media Lead Gard was removed from the Gainify team due to conduct detrimental to the project.
While we have no desire to paint anyone in a bad light, we can say the majority of the Gainify team lost faith and trust in him due to a couple factors. First being a severe violation of our internal policies. Second being the obfuscation of his role in launching a new Algorand project.
It’s an unexpected and unfortunate development. So, we move forward in S5 with a team of four instead of five.
Record
- GAIN price = $.0005 (-50%)
- Total trading volume = 1.49M ALGO (+140k)
- 1 ALGO = 261 GAIN (+118)
- GAIN FDMC = $52,147 (-63k)
- GAIN TVL = $24,066 (-13,640)
- Holders = 419 (+18, this number doesn’t include LPs or farmers)
- GAIN Liquidity Pairings = 8 >$100 (even)
- Segments minted = 68 (+2)
- Twitter followers = 990 (+253)
- Discord members = 223 (+2)
Wrapping Up
The fields of Hatake ended up being less fertile than we anticipated. For the first time we saw a regression in the key metrics of our Seasonal Record. We witnessed tepid interest in our community initiatives. Then we lost a teammate. All in all, this is the most adversity our project has seen since launch.
Yet we remain dedicated to our mission, and invest even more time and funding into the development of Gainify. “It’s always darkest before dawn” rings true as it usually does. Our commitment to driving ecosystem TVL & activity through GAIN remains as strong as ever. Our prospects for creating a sustainable, revenue generating project are far brighter than any other time in our history.
Season Five marks over 120 days of existence for GAIN. How many tokens last even this long? Not many, and we hope this gives you some confidence as we embark on deploying a DAPP. For those that sold and left, we welcome you back at any point. For those that stayed and farmed, you have our sincerest gratitude. For newcomers, make yourselves at home. We endeavor for all of you.
Now it’s time to break ground
