Announcement - New buyback system coming soon

작년

50% of all revenue of Holybread go to our prize pool of which we distribute 20% of it every week to the players in our weekly buyback. After only a few weeks we realize we are not happy with our buyback system because some players are disadvantaged. We receive a lot of suggestions on how to change it by users in our discord server and even in comments below our posts. In order to create a fair and equal system we decided to make some changes to our buyback in the near future. It will be easier for everyone!

holybreadio.png

How does the buyback work currently?

Since the release of Holybread we buy back Breadcrumbs from players on Steem Engine every Sunday. Players have to transfer their ingame Breadcrumbs to Steem Engine. Therefore we use 20% of the prize pool to assure a more or less stable amount of Steem to use for the buyback. On random times throughout the day we fill sell orders on the market. We start from the lowest sell order until we run out of Steem.

What we don't like about the system

There are two major points that we do not like about the current system:

  1. People have to get familiar with Steem Engine. Some players have probably never used Steem Engine let alone traded their tokens there. In order to receive part of the Steem from the prize pool it is inevitable to send Breadcrumbs from ingame to Steem Engine and create sell orders.

  2. The exchange rate for Breadcrumbs is not equal. As people set sell orders at different prices, the value of Breadcrumbs differs within one round of buyback. It feels a bit like gambling to set a price for a sell order to make sure it gets filled at the highest exchange rate possible.

How will the new buyback system work?

The new system will distribute Steem from the prize pool on a daily basis. In order to receive part of the Steem players have to send the amount of Breadcrumbs they choose to a pool ingame. None can see how much Breadcrumbs are already in the pool for the day. After a period of 24 hours, the amount of Steem from the daily prize pool will be devided equally among everyone who has sent Breadcrumbs to the buyback pool. The Breadcrumbs players have sent will be gone. After all Steem is sent to the players, a list will be published ingame. This list will show all players and their amount they sent into the pool and the Steem they received in return.

What advantages does it have over the old buyback?

We see four huge advantages in this system:

  1. It is simple! Everyone can join in easily without caring much about Steem Engine and sell orders. It's just one click at a button ingame and you're in.
  2. The price of each Breadcrumb within one circle is exactly the same. Everyone who sends Breadcrumbs into the pool can be 100% sure that he/she will receive a part of the Steem from the prize pool.
  3. It is very transparent! After every 24 hour period, every player has acess to the list that shows ever detail of the buyback.
  4. It's on a daily basis. When a player doesn't have time to send his Breadcrumbs to the pool on one day, he/she doesn't have to wait a full week.

When will the new system come into effect?

We do not have a date for the new system yet. It will take a few weeks as we want each and every player to be well informed in advance. Also the system has to be thoughtfully developed and extensively tested.
We will let you know about the date early in advance before the new system starts. There will be another announcement here and in discord, as well as an ingame notification.

Please feel free to aks questions.

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Are there any plans to integrate Breadcrumbs into the game so there is more than just selling the token?

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Yes, not only plans. There will be an update very soon that gives Breadcrumbs first ingame use cases. And there will be more to come.

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The new buyback will be great... but I'm more excited about uses for the crumbs in-game.

I'm feeling we need a way to recharge energy... hint, hint ;-)

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Das klingt doch viel viel besser. Daher ein LIKE. :)

Aber eine Frage schwirrt mir im Kopf rum. Was ist dann jetzt mit den Brotkrumen, die bereits zur Engine geschickt wurden?

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Es wird sehr bald ein Update geben das den Brotkrumen ingame Verwendung gibt. Im Zuge dessen wird es dann auch die Möglichkeit geben HBC von SE zu Holybread.io zu schicken. Man kann also weiterhin auf der engine traden aber man wird auch ingame was mit den Krümelchen anstellen können und eben dann auch ingame sich einen Teil aus dem Preispool sichern damit.

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  ·  작년

This game needs music. Hit me up if you want some made ;)

I like the idea, but have one question.

What is the plan for the hbc on steem Engine? How will we send them to the new buyback prize pool?

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There will be an option soon to send Breadcrumbs from Steem Engine to Holybread.io. So you can still trade HBC on Steem Engine and you can bringt them back ingame to send them to the pool or use them for other ingame usage that will come soon aswell.


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@holybread, Keep up the good work team. In my opinion it's a good sign that you are thinking 💭 from the users 👥 point of you, in my opinion this point will help you in more growth and Point Of Adoption. Good wishes from my side and stay blessed.

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Makes sense to me as well. Keep the good work up!!!

Yeah I really dislike this buyback way there is right now. I like what you guys are doing to fix it. Can't wait for the update. Hopefully doesn’t take to long.

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In reply to my comment under your last post, you asked for my opinion regarding the new buyback system, so here it is.

At first, what I like about the new system and why.
1) Daily exchange possibility from Breadcrumbs to Steem
2) Exchange without "the middle man" (SE)
Only this would not just help users unfamiliar with Steem Engine or maybe even with trading on such platforms but above all, by that extra charges in the form of existing (although very small) transaction fees from SE account to Steem Wallet or vice versa will be cut out. For gaming purposes only, it was something completely unnecessary, especially on Steem blockchain, where all the transactions are absolutely free of charge.

What I'm not thrilled about is that this new buyback system "formula" has some crucial mathematical unknowns, entirely unwanted for my taste, and they are the next ones.

1) A daily amount of Steem that is going to be exchanged for the Breadcrumbs in a daily pool.
Assuming that you want to keep the same ratio as it was by now (20% of the total prize pool per week), my guesswork logic would be that this 20% would be divided by 7.
So, if we today have about 5,000 Steem in the prize pool, 20% of it would be 1,000 Steem (per week), which divided by 7 would make something less than 143 Steem per day available for the exchange of daily pool.
But we don't know if that's so or not, did you have the same logic and idea or maybe something entirely different.

2) What would be the price of Breadcrumbs?
The way how it's explained in this post, my guesswork logic understands it the following way. I'll give (as I'm calling it) a plastic example for better understanding.

Let's say that John, Sally, Mark, David, and Suzy will decide each day to sell the same amount (portion) of their daily Breadcrumbs earning in the game. So, for Monday and Tuesday, their exchanges might end up as shown in the following table.

Player

HBC

%

Steem

John
100,000
52.63%
75.261
Sally
50,000
26.32%
37.638
Mark
25,000
13.16%
18.819
David
10,000
5.26%
7.522
Suzy
5,000
2.63%
3.761
Total:
190,000
100%
143.001

But what would happen on Wednesday when to the above five players join Alan and Steven?! Alan has been intrigued by Suzy's story of how she managed to exchange her 5,000 HBC for 3.761 Steem while Steven is one of the top 10 players who decided to sell at once most of his last week Breadcrumbs earnings.
In that case, the table of payouts would look like this.

Player

HBC

%

Steem

John
100,000
2.38%
3.403
Sally
50,000
1.19%
1.702
Mark
25,000
0.60%
0.858
David
10,000
0.24%
0.343
Suzy
5,000
0.12%
0.172
Alan
5,000
0.12%
0.172
Steven
4,000,000
95.35%
136.350
Total:
4,195,000
100%
143.000

So if, as shown through the above tables, my guesswork logic is correct, I can not but noticed that we are, although in a different way and without being caused by some market speculators, but still back again in some gambling business what you have emphasized that you don't like in the current system.

The way I see it, in this new system, the players who wants to sell their Breadcrumbs through daily buyback would be, in fact, some sort of the "lottery buyers" who will have to guess correctly and pick the right day in which top players will not exchange their enormous daily amounts of Breadcrumbs, not to win the jackpot but to win anything jut a bit more substantial eventually.

In short, without fixing the buyback exchange rate price for Breadcrumbs, I don't see how you may avoid that gambling issue at all.

However, that's my two cents on the subject.

Nice improvement!

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  ·  작년

This is a much better way. I love this :)
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