Pegaxy Insider #5 RECAP
By: Gabby Gorgonio | February 16, 2022
This Pegaxy Insider recap article will do its best to capture then summarize the ideas and answers of Pegaxy’s CMO, Corey Wilton.
For the detailed explanation; watch the full video on Pegaxy’s Official Youtube Channel
Thoughts on Valentine’s Event?
- “From our perspective as a team, this was a big experiment and a tester… And from our perspective, it was a MASSIVE SUCCESS. It did what was intended to burn $VIS, generate a new rare kind of Pega, and see what would be done with the tickets.”
Thoughts about the current price?
- “I think we got a little too excited, thinking that a .15 or .20 cent token was NORMAL. That is not normal, and people have to be grateful that we’re where we are. There will always be people who complain, and if they don’t want to take accountability it’s going to turn into FUD.”
- “As there are big movements on the upside, there will also be big movements to the downside. There’s winners and losers on both sides. We cannot stop it.”
- When you are talking to people in the community who are not happy, PLEASE BE CONSIDERATE OF THEIR PERSPECTIVE… They may have lost money on this price movement, which is totally understandable why they are not happy about it. People get fearful when price goes down/People get elated when price goes cloud-nine and goes up. Attempt to educate them on how the free market works. “Attempt to educate them, since not everyone is experienced.”
- For the team, what the price is now is irrelevant to whether we innovate and create. Up market means release and build products, down market means release and build products. We stay EXTERNAL to the markets, and do our best to create.
On the Liquidity Pools…
- Quick explanation on Liquidity Pools: “The more liquidity we have on a token, the less up & down we will have in the short term. Low liquidity means high volatility.” Providing liquidity generates massive rewards, however there are some risks involved.
Read our Liquidity Pool article to learn about how to gain rewards by providing liquidity!
- We have a couple examples and thoughts on providing liquidity moving forward, such as a breeding event where instead of burning, we provide liquidity to the market…
- “From the gaming perspective, the swings aren’t all that bad. But we would prefer the market to swing by speculation and not by a fundamental issue. We will always try to build products that solve the fundamental issue, however when there are swings based on speculation by the market, I think that’s part of the game.”
Corey talks about Updates (some to be shipped, some for future, some ideas)
- Platform of the beginning of Pegaxy Governance; PGX is going to now have its true utility
- Basically, the start of trying to get people to provide ideas & voting. Using this platform to make big decisions for the future and voice the Pegaxy team’s proposals and hear the community’s stand on them
- Aiming to ship “around” the 28th of February, no guarantees.
Pegaxy Satellite (for the future)
- Ambitious project that will make more sense in the future, suggested by a community member!
- “What we want to do is enable games on top of Pegaxy and give you guys more utility which creates more value for everyone.”
- “Anybody can build anything for the Pegaxy NFTs”
- An example could be a tech-robot fighting game, where you can utilize your Pega in Pegaxy. A concept where owners and scholars could be playing different games that are under the same umbrella despite having differences in ecosystems and economies.
6 Week Cycle Recap
- Corey explains how the team works in Pegaxy
- “Keep in mind, whenever we speak of something, at minimum is it about 6 weeks away. If we need to work quicker, we’ll try our best to release it within 3 weeks, however its really important that we have STRUCTURE.”
- Watch this video or read our article for a more detailed explanation from Corey about the 6 Week Cycle.
- There are different teams from different countries working on various things for the development of Pegaxy, such as the Philippines, Australia, etc..
Baby Racing Cooldown Switch (likely to be shipped)
- Baby Hoz 4 Day Cooldown before race
- Baby Campona 3 Day Cooldown before race
- Baby Klin 2 Day Cooldown before race
- Baby Zan 1 Day Cooldown before race
Adult Pega Cooldown after Breeding
- After you breed a Pega, it won’t be able to race for 4 days. (Cooldown can compound)
- Example: You breed a Hoz, it gains a 4 Day Cooldown before racing again. Breeding it again the next day due to its 24H breeding cooldown would mean it would then have a 7 Day Cooldown before racing.
(4 Days (adult cooldown) – 1 Day (next breed wait time) + 4 Days (adult cooldown) = 7 Days)
Still theorizing (not sure): Baby Pega with Variable Energy
- Bloodline does not matter, what will happen is that Baby Pega will be born with between 10 – 20 max energy
- “We don’t want to directly reduce the amount of reward earned from a race. If we reduce the energy, it reduces the “potential””
- If this ever pushes through, we will be sure to let everyone know through a proposal. (This is where Themis’ utility shines)
Still theorizing (not sure): Increase the amount of players per Race
- Same reasons as above, the players per Race may increase to 15 (number not final)
- “We need to indirectly reduce the chances of $VIS being minted. What you guys are experiencing right now is an oversupply of $VIS, and that’s always going to be an issue if there is less burning happening. Therefore, what we need to do is create theorize and routes where we don’t directly affect earning, we leave it up to chance.”
A few more things…
NFT Profile Picture
- A leak was shared in the video at 38:17
- These NFT Profile Pictures are going to Founding Pega owners for free, we are not selling it for anything.
- There are 5,000 Founding Pegas, there will be 5,000 of these NFT Profile Pictures.
- There will come a proposal in 1 or 2 weeks on the potential plan.
- “Look out for the proposal, we will not be dropping this suddenly, we want to ask for the communities opinions and approval.”
- “Stadiums is difficult. It takes a lot of planning and consideration to develop it then implement it.. and do it right.”
- We have plenty of ideas of what Player Controlled could be, but it is very difficult to conceptualize a game that is NOT Pay to Win.
- When player controlled does come into play, it will come out in phases. We will come out with new versions, add more mechanics, and develop gradually.
- “Hopefully you can appreciate that it will take time, and how many things we have been building for you guys.”
Question & Answer Portion
- We are working on it. The goal here is to have a really early Beta version of it sometime early March (not sure), but everything is doing good
- Likely release it the way 3D was released, Founding owners get first access, then come the next rarities
Why did the $VIS Price go down after the Breeding Event?
- The breeding event did not affect the price, it just reduced the supply, it had nothing to do with price.
- “If people are going to sell, people are going to sell.”
How much will the Stadiums be?
- There is a proposal floating around, the payment for Stadium may be Pega.
Update on Prestige?
- Prestige proposal: https://public.3.basecamp.com/p/yDkyY35Mpv68wkqy5N9A7mQJ
- “Like we said on the 6 week cycles… We need to consider prestige carefully, it’s dangerous.”
What are your future plans after Valentines Day, what event could we expect?
- “For future events, we plan to do them generally frequently, I don’t know how frequent is frequent… But we want to make sure we’re not doing the same thing over and over again.”
- Right now we don’t have any intent to go for Centralized Exchanges.
- “It could happen, I’m not ruling it out… But we’re just not reaching out for it intently. If they come to us and it makes sense, we will let you guys know that is for sure.”
Is there a way to Rent to Own in the marketplace?
- There is a proposal for Lease to Breed: https://public.3.basecamp.com/p/Q4Z4wNgi1vNkN5MGw31v1vxB411
- There is also a Youtube video on this by Corey in the Pegaxy Official Youtube Channel: https://youtu.be/FD8baN-n-AE
Does the new Energy system apply to the already existing Pegas?
- “We haven’t made these considerations yet. But it is likely it won’t.”
- “Developing, we want the visuals to look really epic. When we do it, I think everyone will be very satisfied.”
How about Feeding a Pega?
- “We have plans for food, totally understandable, but food is dangerous and we have to implement it very carefully.”
When will the Breed & Racing Cooldown Switch take effect?
- “The Baby Racing switch I would say within about two weeks. You guys will know in advance.”
What is your Marketing Plan in the short term?
- We are at maximum capacity at all times. There are is abundance for scholars.
- “I think there’s literally 10,000 people sitting there in the renting marketplace, not even exaggerating. There’s more than enough people, what they are waiting for are Managers to make more Pega.”
How about a Jousting Minigame?
- If someone builds a Jousting Minigame, they could bring it to the platform (via Pegaxy Satellite in the future).
- We can approve it, review it, audit it, and then endorse it. Then everyone can play the Jousting minigame with your Pega.
How many Pega do you have? (asked to Corey)
- “I think I have about 12. I don’t breed Pega unfortunately.”
When will we be getting Official Documentation for the API Endpoints for PegaLookup?
- “We’re working on it, we have a lot of plans. We also want Apollo to be Open-source as well.”
- “That’s another thing we have been working on, we need to build a foundation for it. You guys who are developing external tools, will actually able to bring those tools onto one centralized platform so anyone can benefit from that platform. You will be rewarded for building on top of Apollo!”
Whats the Utility of Rarity in Pega?
- Only Founding Pega owners can the Profile Picture NFT
- First access to some updates such as the previous 3D Beta, and upcoming Mobile release…
- “Having a Founding Pega does not mean you earn more money.”
LP Staking Program?
- “On the PGX side, It’s likely that we will have another one. We just want to be appropriate, long term, and quite rewarding for you guys.”
Can we have Pega to be bought and sold using $VIS?
- “Good question here, I want to make this clear to you guys. That does nothing.”
- Example: “I have 5,000 VIS, I buy a Pega using 5,000 VIS, Someone has 5,000 VIS, I have a Pega. It does nothing, and imposing a tax on that would also not be wise.”
Any Info on the Lootbox & Gacha system?
- “No… Not from me. I would need information from our Game Designers for that.”
Daily Active Users count?
- 91,000 DAU at the moment.
Reverse Engineered Rental Marketplace?
- How does it work: Essentially, renters need to have to be verified as a renter, and do KYC (likely), then Owners who will rent to the public will set a % share; and this will go to a list for the renters. There will be no interface where it can be botted. Performance of the renters may also matter in this system, etc… (All NOT FINAL)
App for PC?
- “Web is far more “Accessible”, likely not on this one, however I’m not the decision maker on that.”
When are you going to fix the website so it becomes responsive to Mobile?
- “The reason that’s out of focus is cause we’re already currently building a Mobile App. We’ll just use that.”
Selling In-game advertisements as a continuous $VIS burn?
- This one is a difficult one, it sounds cool, but how do you actually do that? “You give them a billboard, they give us a million dollars, are we meant to buy that into VIS then burn it? Seems like a silly mechanism to me. It would be better if they buy Pega then burn it, since a VIS buyback is exceptionally pointless and does nothing…”
Is it possible that only Pega owners & renters can buy/sell $VIS.
- “No, this is not possible.”
Why did you burn all the $VIS from the Valentines Event instead of putting it into the Liquidity Pool?
- “Saying these things in hindsight after the event has happened is very clear and obvious, but no one recommended that before the event. We burnt $7m of $VIS during the event, if we wanted to take that $VIS and put it into the Liquidity Pool we would need $7m of $USDT as well. I don’t even know if in the treasury we have enough to sustain that.”
Mint rate is starting to overtake the Burn rate of VIS, does this concern you at all?
- Minting has always been ahead of burning in a broad sense. Mindset shifts and since not everyone mints their $VIS, its a difficult thing to predict.
- Earlier we have addressed some changes we are planning that may help band-aid the situation.
Transaction Fees and Withdrawal Fees to be added to the LP directly… Thoughts?
- “I think forcing is risky, its an option, but if can educate them so they are able to recognize the benefits toward it, I think this is a better route than trying to force people.”
- “Understanding takes time.”
Will the Reduced Energy be the cap for the day, or will we just need to be more active in racing throughout the day?
- “That’s a good question, we have not considered this yet.”
Could you make a function that allows for exchanging Pegas without a Middleman?
- “For sure, that’s another proposal I have written up. Again, we have the 6 week block cycles. And a lot of other features we’re trying to push through.”
- “We understand a lot scams are happening and its severity right now, we see it first hand.”
Will Mobile be available for IOS and Android?
- Perhaps in the future.
- It may be difficult to get out of IOS’ Testflight.
- Android is very open.
Pegaxy in the Ronin Chain?
- There have been no discussions. We’re not ruling it out, but Polygon has been very receptive to us and it’s doing good so far.
- No plans on making our own chain.
Any info on the PGX token, and will there be any other utility for it?
- “It is a Governance token, the utility is to govern the platform. And it has extra utility; It is part of the breeding cost. Again, when we build Themis, you guys will have the entire core function of the token.”
When will Pega Classes work?
- Right now Pega “Classes” don’t exist. That’s something that has changed, no update on that.
Any chance to add a $VIS betting mechanism?
- “Not on our platform. Very dangerous. If we add betting and we become an online casino, and the game might get shut down.”
Are you planning to have Skill-Based gameplay in Pegaxy?
- Yes this is the end-goal of the entire game. To be 100% skilled-based, for the earnings to depend on how skilled you are and how well you know the mechanics. “We think the most skilled players should have the most rewards.”
- We want the earning mechanisms to be equal but skill be the determining factor of how much you earn.
Is it possible to get Two-Factor when transferring a Pega?
- This is something that we could do. We may think to add more warnings or something close to that for these. Good question.
Daily Active Users target end of Q1?
- We do not have a set target, right now, no matter what our target, its out of control. So it will most likely hit an obnoxious amount. We have to be very careful of going too big.
- “The goal right now is suppressing growth, which is a little bit backwards, but that’s what we are doing.”
Scholar-side burning mechanisms?
- “Yes of course we definitely have scholar-side burning mechanisms, If you go and watch the Q&A on Youtube, I think 2 – 3 of the 4 proposed burning mechanisms there talked about scholar-side burning”
Will Valentines Pega have more effects as it completes more races?
- As it does more races, its effects will mature, become more bold and visual. That creates even more rarity among the Pega.
What if reward for breeding was energy itself? (Breed Count correlating to Energy)
- “You’re thinking along the right lines. I like that. We have a bit of a different quite similar line, different theory. But you’re definitely within the lines of our thinking process.. But Pega need to gradually degrade, not die, but become less useful overtime as they “age”. We’ll have a theory and proposal for you guys in the future.”
If the game is not meant to be pay to win, how would someone who could not afford Gear or Food compete against someone who can?
- “The benefit would be external to the earning mechanism. Again, that’s why we haven’t implemented it, because we need to make sure that it isn’t.” “We need to be careful with that, and that’s why they don’t exist yet.”
When skilled-based Pegaxy arrives, do you expect skilled players to make substantially more $VIS than someone who is mediocre?
- “I think that’s how the world works. A more skilled person generally gets paid more.”
- “That’s how a good functioning economy will work. The ones who invest the most time learning the mechanics, will get paid more. And that’s a good ecosystem to be in.”
Any ways to improve the user experience of Trezor Users?
- “We have a lot to improve on. Totally agree with you, the team is fully aware. However we need to make sure that we are not compromising security.”
Will the Mobile Version be Trezor friendly?
- “No sure answer yet. This is a difficult one, but we’ll figure it out.”
What’s your plan with Pegas that have low stats?
- “Pegas with good stats, Pegas with more energy, are just going to be worth more. What good stats does, I don’t know for the current game. It’s not so much the good stats and bad stats, but the future proposals will make it so that these Pegas with more energy, perhaps higher stats would be worth more.”
Are you worried about the speed of the number of Pega being born?
- “For sure. A lot of the theories and proposals that we will put out will be involving this, since it is very very dangerous.”
Pegaxy Disease/Old Age mechanic
- “Disease” we’re not sure about that, but old age may be something in the future. How it’ll happen, we’ll like have a proposal for you guys.
What is Projected Lifespan of Pegaxy?
- We want this to stay as long as possible, so 5 – 10 years, or more. We’re trying to solve issues that literally have not been solved in the real world economy. It’s exceptionally difficult, and when you have these difficult problems you find exceptionally passionate people.
Virtual Reality where I can see my Pega? (Oculus/AR etc..?)
- We have AR Pega, they’re played around pretty easy. VR, I’m not quite sure, could be a side thing we’d do for fun. Not sure how we’d implement that in the game. Perhaps you watching your Pega run from the stadium, that’d be pretty cool.
Can you create an offline use for $VIS?
- “Not too sure what this means.”
Can you swear in Filipino, please?
- “Ma-boo-hay.. Sana ol. You’re welcome.” (writer’s note: he was not able to swear in Filipino)
Single Staking PGX option?
- “Not just yet.”
Gender Change for $VIS?
- This likely will never happen.
- To be completely transparent, the reason why we cannot let everything be done and changed by $VIS is because if it was possible, people would not have any use for the Marketplace. The Marketplace is how Pegaxy generates revenue, we need money to continue, and then eventually the treasury will need money as well.
Could you make it possible for managers to change the profit share without taking back Pega?
- “Totally, this is something that has already been proposed. This requires some contract changes, so it is not a small thing.”
What is your target or optimal price for $VIS?
- “It is whatever you guys want it to be, it is not on us. At the end of the day, it comes down to demand to find the perfect balance. We will be focusing on shipping products and trying to figure out how this economy really does work, and if we get there, the price is on you guys.”
Is it possible to lower the name change $VIS cost?
- “Yeah, I think we will do something like this some time in the future.”
Are you planning to add more filters in the marketplace?
- “Yes. We will be continuing to add more filters. We want the Marketplace to be easier to use and to work well.”
Utility of the Valentines Pega?
- They are rare. In the long term, they will be more in demand.
If you sell a Founding Pega, is the NFT Profile Picture attached to the sale?
- “No, the owner of the Founding Pega at the event will get the airdrop of the NFT, and you don’t lose it. The NFT Profile Picture can be transferred, not sure if we’ll make it sellable, and perhaps (not sure) maybe add utility to it… It’ll be something we’ll explore.”
Please add tax on the marketplace and use it to burn $VIS
- We have a 3% Tax on the marketplace and we use it to build the studio and the game. The game will then create more burning mechanisms as it builds.
Will we maintain the 20% minimum win rate?
- This will change a lot more. There will be a lot more space between some of the percentages. The swings will be a lot more too.
Are you a bit concerned that you may be stuck for the mini-game expansions since horses can’t drive a car or fly
- “Interesting question. You guys need to remember that the mini-games don’t have to do anything with horses. Your NFTs can literally be a key that unlocks another NFT, which could be a robot human, bird, maybe a literal car.. It does not have to be a literal horse. It’s a big concept.”
- “An NFT, isn’t a horse. In Pegaxy the game, it is. But maybe in another game it could be a car.”
Are you planning to attract huge or bigger investors?
- “We will be doing another private raise, hopefully targeting the other bigger names in the industry. We want to be able to get them on our team and supporting us, and to get to work with them as well.”
- “For new players, if the game is good, they will come.”
Guild In-game participation like activities, tournaments, etc.
- Perhaps we will be working on these in the future.
- Along the roadmap we will be open-sourcing a lot of stuff.
- Game side of things, there will be extremely large incentives to build in the Pegaxy ecosystem.
Why not make a 3D Open-World Pegaxy game where Pegaxians can do etc…
- It’s cool to talk about but it’s going to take some years to be able to get out with something decent, of course we could build that (someone on Pegaxy Satellite will probably build it first), but that would be amazing.
Could you make it minimum of 20% for Scholars?
- “No we will not touch that, it is an open-market.”
Will there be a voice-chat in game?
- “I think there may be a text chat, I don’t know about voice chat.”
- “Yeah I think that’ll be pretty cool.”
How about a 1 – 10% to get a higher tier Pega from maximum Breeding?
- There could be other benefits attached to getting up to a 7/7, you guys need to be encouraged to breed into 7/7… It cannot be something like going from Pacer to Rare, however, there will be other benefits that I think will be attractive enough to have you go up there.
What tools do you guys use to create the 3D Pega
- “Jiro says Maya or Blender.”
Pega Racing in real life places like Pokemon Go?
- “The budget Pokemon Go has, the talent that they have… We simply cannot compete just yet. Will be very difficult to achieve short-term, but could be for the future. Could be quite cool.”
How about races where people can race without energy but not earn?
- “That’s interesting to think about. I will send that to the team as well. If someone without energy plays and wins first place then the $VIS would not be minted. I would not know why but I think some people would still do it, I wouldn’t know.”
Do you have plans for Esports in the future?
- “For sure when it gets competitive, right now there’s really no point.”
Is the long term vision where people will still be making money in Pegaxy 5-10 years from now?
- “Depends on the perception of people on “earning money”. I think 5 – 10 years from now we cannot even begin to imagine what this ecosystem will begin to look like, we can only make stuff up.”
How does the game make money other than the marketplace?
- That’s it. And that’s the way we want to keep it. We don’t want to sell more NFTs to you guys to raise more money, if we need more money we are able to do extra capital raises from VC’s who can also provide us advisory and assistance as well.
Changing Pega Colors?
- This will be part of the “Food” for the Pega that we will offer. Not implemented yet.
What did you Major in? (asked to Corey)
- “I declined in going to university and started my own company. But I wanted to be a fighter pilot.”
What is the Company’s Mission Vision?
- “From my perspective here: Do something that’s never been done before. That’s the goal, and that’s where we stand at the moment. When we first started, we did have the benefit of being able to walk in Axie’s path and learn from their mistakes. But unfortunately, we’re at the point now where we drift apart and have to innovate on our own.It’s exciting and scary, but being able to do something that’s never been done before, and being at the forefront of an emerging industry is something you can wake up and be excited to be awake and not want to stay asleep for.”
- “Do something that has never been done before at a large scale globally.”