|Date||Date||12 Jun 2022|
VersaGames is on a roll! So many thing are happening that our team has decided to start a weekly newsletter here on Medium! This is our first edition — worth a clap below — and already full of amazing highlights:
New Treasury Page
Token Liquidity Update
New Storefront articles
Let’s dive right into it!
Obviously many of us are using Coinmarketcap as their favorite price-tracking website for cryptoassets. For many years already, it is the go-to platform to find high-quality and accurate information and compare the best projects. Recently we have already been listed on Coingecko and we’re happy that VersaGames now has its own page on Coinmarketcap too. Here you find all price information, trading volume, and fully diluted market cap.
Crypto scams have cost people more than $1 billion since 2021 according to CNBC and the recent $600 million Axie Hack has definitely affected people’s confidence in Play-to-Earn negatively. Being in this industry for many years the VersaGames team knows crypto can be volatile and risky. As a result, we value even more the trust and confidence of our investors and have therefore now launched a new Treasury page on our Storefront.
Our Treasury page is full of detail. Here you will find detailed updates, the total Treasury value including a distribution of all assets we hold, an overview of Farms, Liquidity Pools, and Lending, as well as Performance tracking. As a whole — it will provide full transparency to all our stakeholders and gives you more detail how funds are spent. As an example, our May 29 update explained that we weathered the storm by UST depeg and LUNA collapse quite well, as we early swapped all our CRO to USDC and continued to divest VVS according to schedule.
You can visit our Treasury page here and read more about our token liquidity and treasury performance in the below update.
As we near our 2nd month since IGO, our CEO Noah Clason shared an important token liquidity update in our Discord community earlier this week.
Although most financial markets have struggled, we at VersaGames have taken a conservative approach, as we always knew it would take time before high quality and fun web3 games come to market. Therefore, we worked hard to make sure VersaGames has plenty of runway to build, and to be in a strong capital position when the games arrive.
From the outset we enacted low and sustainable emission backed by revenue. As part of this commitment, we decided not to renew our farm/mine at VVS, which is currently coming to an end. The decision was also enabled by the fact that we had already de-risked our treasury as much as we could, and are now mainly holding USDC and VERSA. In fact, despite the current market, we are able to effortlessly provide our full treasury owned liquidity of 2.2mUSD. Access our Treasury page for more details.
We are already seeing signs that good games are coming to market. We will soon announce the name of our 2nd private round deal, and you can expect to hear more news of how we put our treasury to work shortly! [quote] We are extremely optimistic about the future and are working hard to build out recurrent revenues as a strong foundation for our project.
With the farms no longer giving emissions, some of you will wonder what the best way to utilize your VERSA holdings will be. Simple! Stake your VERSA here in the treasury and earn 40% APY without the headaches of IL and pair token depreciation.
Now that tokens and NFT’s needed for in-game play are at a discount in today’s struggling market the concept of getting paid to play seems more attractive to an increasingly larger audience. The pace at which new games are hitting the market is also accelerating by several trends, including the increasing maturity of Web 3.0 and a higher overall user adoption. In order not to be overwhelmed and keep track of all the latest games available we published some new articles on our storefront! Here’s this week’s list: