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According to plan - Joystick.club migrates 898,209 JOY from SLP to SEP20
As according to plan, as we previously explained in our JOY Token Sale article. Today the team behind Joystick.club migrated a huge amount of JOY from SLP to SmartBCH. This was done by burning 898,209 JOY-SLP on BCH Layer 1 from the bridge BURN_WALLET and Minting 898,209 JOY-SEP20 on SmartBCH sidechain. Transaction details below.
The most used bridge for Joystick.club users has been the SpiceTippingBot which allows people bridge as little as 5 JOY as of November 20, 2021. The Spice team, along with the Paytaca team, helped us setup an easy to use method for users to move their JOY-SLP tokens into our burn only wallet, which lives inside the Paytaca App. Their bot would then repay the user 1:1 in JOY-SEP20.
As a result, we've accumulated 898,209 JOY-SLP worth an estimated ~$76,000 USD at todays rate. Nearly 50% of all JOY that was remaining on SLP will now been migrated to SmartBCH. Making us way ahead of schedule. We expected the SLP migration to perhaps take nearly a couple of years, but it turns out we underestimated the timeframe.
The new total supply on SmartBCH will be 101,244 JOY
(The ~101,244 JOY will most likely be migrated over to SEP20 in part as remaining users bridge their JOY to SEP20. Some of the JOY-SLP however may never be migrated over if players choose not to migrate)
Beta Testers have more opportunities to earn POINTS (PTS) and bridge those to SEP20 to acquire more JOY to participate in upcoming governance. (Read more about POINTS) According to the SmartBCH team, archive RPC node should be available in February 2022. This will unlock the ability for DAO tools on SmartBCH, such as Snapshot.org, enabling users with JOY to vote on proposals.