The farming simulation protocol pegs its prices to $USDC instead of $MATIC due to current market conditions.
The Bear and the Sunflower
Originally pegged to $MATIC, the protocol is now changing its base currency to $USDC due to the volatile nature of the current bear market. In an announcement dated June 15, the team said its main transaction fee revenue model is taking a hit due to market conditions and it might affect gameplay development.
“Due to recent events in Crypto we have decided to move the peg of our in-game utility token from Matic/SFL to USDC/SFL,” Steeve Woody, Sunflower Land Advisor, told Web3Wire. “ This is to create stability within our ecosystem and ensure that both players and the game itself can benefit from some level of certainty in these troubling times.”
As a result, the team is developing less required syncs in the game, and creating a USDC/SFL pool to aid with liquidity. Minting a farm would now cost $5 worth of $MATIC, while syncing will now cost $0.10 worth of $MATIC. In this model, the amount of $MATIC will be adjusted until the peg is reached.
Users can read the full announcement for more details.
What is Sunflower Land:
Sunflower land is a farming simulation PlayToOwn blockchain gaming project built on the Polygon network. It is a metaverse that reflects real-life economic principles of supply and demand, with an in-game mechanic that makes resources more scarce over time. In addition, it is a community-developed project where each item in the game can be owned on the Polygon chain, enabling users to collect valuable NFTs and trade them on platforms like OpenSea.
Where to find Sunflower Land:
Source : bsc.news
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