Economics Roadmap Q4 2020

Hi gamers 🕹️! This post will cover updates to our economic model including DEV fund buy back, gaming protocol economics and upcoming listings.

We’re super excited for whats coming in Q4 2020 for Itchiro. We expect $JEM’s 💎 value to slowly stabilize over the next 2 weeks as we start launching milestones from our economics and technology roadmap. We’re releasing an official Community Update post on Thursday — it’ll summarize important events from our presale and UniSwap listing (including liquidity locking, DEV fund/proceeds vesting schedule and transactions IDs). As an anon team, we know how important it is to make this information transparent and widely accessible. As always, we’ll be sharing every step of the way on Telegram.

Let’s jump into it.

📈 Buy Back

Our team is taking the initiative to aggressively support the price of $JEM 💎 in public markets. Below we outline three methods we will be implementing to continuously buy back $JEM 💎 on the $JEM/ETH UniSwap V2 pool.We will share transaction IDs and summarize any buy back events in our weekly Community Update post.

Team Tokens

On Sunday November 1st, 2020 the Itchiro Games dev team launched the $JEM 💎 presale, where a total of 617.7563 ETH were raised. Half of the proceeds (~308.87 ETH) were paired with ~463.31 $JEM 💎 to create the $JEM/ETH liquidity pool. Shortly after, LP tokens were locked for 12 months (transaction ID).

We are vesting the ETH proceeds from our sale for 12 months, and vesting the DEV fund $JEM 💎 allocation for 24 months. Transaction IDs will be shared on Telegram and events will be summarized on the weekly update.

We will be using the ETH vested onto our DEV fund every month to buy back $JEM 💎 tokens from UniSwap at the spot price. This is programmed to happen on the 15th of every month. We know you are confident in our project, and we want you to know that we are as well.

First buy back will happen in the next 48hours.

DEX + NFT Wallet

We had originally designed the economics of our ecosystem in such way where 90% of the protocol’s revenue would be distributed pro rata to $JEM 💎 token holders. Meanwhile, the remaining 10% would be sent to the DEV fund. These distributions happen continuously on a per transaction basis.

Our team will be taking any proceeds that enter the DEV fund from the NFT marketplace and NFT wallet — and use them to buy back $JEM 💎 tokens from UniSwap at the spot price. This buy back option is programmed to remain for the next 6 months. Just like the ETH proceeds, this is programmed to happen on the 15th of every month. The buy back details including transaction IDs will be summarized on the weekly update.

🎮 Gaming Protocol Economics

Development for the the NFT marketplace and NFT mobile wallet are well on their way. We are starting to design the smart contract logic for the game protocol we are looking to launch towards the end of the year. In our initial announcement post, we mentioned the basic economics of the protocol and how proceeds are distributed.

To quickly recap:

• The protocol consists of a “family” of smart contracts that contain the economic logic and game logic for probability-based games.
• Probability Logic: Refers to contract design patterns that use on-chain (or off-chain) randomness coupled with game logic (ie. cards, dice) to create outcomes where economic agents either win or loose in zero-sum games.
• Economics Logic: Games are structured with 2 agents (house and player). Whenever a player looses his position (bet) in the game, the house receives a portion or the total loss from the player.

What’s the twist?
Games developed by Itchiro will use the logic set by these contracts, they will also be made open for any other indie game studio to build on top of our platform or for their own.

In the original post, protocol fees were to be distributed in a 75% to $JEM 💎 token holders pro rata and 25% for the DEV fund.

For the next 6 months, any proceeds coming from the 25% DEV fund distribution will be used to buy back $JEM 💎 tokens from UniSwap at the spot price. Just like the ETH proceeds and ecosystem products, this is programmed to happen on the 15th of every month. The buy back details including transaction IDs will be summarized on the weekly update.

⚖️ Listings

The cat is out of the bag. We’re now in talks with a number of exchanges and have programmed listings for Q4 2020. We unfortunately cannot release any information about these exchanges since there are either confidentiality agreements or NDAs behind the relationship. Listings going forward will happen without notice and will be mutually release by the exchange and here, on our official Medium.

📅 What’s coming up?

Stay tuned this week for the following updates:

• Community Update #1
• Branding Guidelines
• Technology Roadmap Q4 2020
• Game announcement

💬 Social Media

Below are some important links to keep you updated with everything we announce. We are also looking for community and marketing managers to join the team, please ping @defimario on Telegram if this is you or have a candidate in mind.

• Website: itchiro.com
• Discord: discord.com/invite/M2UySpe
• Twitter: twitter.com/itchirogames
• Memes (Telegram): t.me/itchiro