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According to plan - Joystick.club migrates 898,209 JOY from SLP to SEP20

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Avatar for amalektricity
Written by   27
1 month ago
Topics: SmartBCH, Joystick, Token, SEP20, SLP, ...

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.

Burn & Mint Transactions Below:

Token TX Details

JOY Supply across SLP and SEP20 Tokens

The new total supply on SmartBCH to 3,898,209 JOY

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)

Joystick.club Governance

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.

Join our Beta Testers Telegram

https://t.me/joystickclub

Market Cap

According to marketcap.cash, the market cap of JOY-SEP20 has increased as a result of the new tokens migrated from SLP to SEP20. At current price Joystick.club market cap is $323,199

Congratulations to all holders!

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Avatar for amalektricity
Written by   27
1 month ago
Topics: SmartBCH, Joystick, Token, SEP20, SLP, ...
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Comments

I do like JOY and farm it now. I keep meaning to join the beta testers, bookmarked this for Tuesday when I am off work and have time to help.

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1 month ago

Is there like an airdrop for this one? I am actually interested. This look promising.

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1 month ago