Liquidity Pool Update
TL;DR — Liquidity is moving to BSC.
When we started Tanks For Playing, we had an audacious goal to create a game which ran entirely on the blockchain with support on as many networks as possible. As Ethereum has failed to scale, we believe the short term future will still involve multiple blockchains with different technologies and protocols. We did not want to tie ourselves to one particular technology or network as the space is rapidly evolving.
Six months and many lessons later, we’ve changed direction and are now preparing to run the game entirely off-chain. We now have the space to focus on Play-to-earn mechanics and maintain TANKS token integration while staying true to the core gameplay.
Now that the lock on our liquidity positions have expired, we’ve reflected on the liquidity situation across all three chains. The current state of having our liquidity spread over three chains is unsustainable with the cons outweighing the pros. This argument remains valid even if we were to consolidate to two chains.
We launched the token and raise on three chains ETH/BSC/Polygon and we know opinions and preferences about blockchains run deep. There is no solution that will make everyone happy, but we have to make a decision balancing the best interests of the community as a whole and the future prospects of our project.
Here are some of the reasons behind the decision to consolidate the liquidity to BSC only.
- With transaction fees on Ethereum remaining stubbornly high, we cannot build a play-to-earn gaming token ecosystem on the back of Ethereum.
- While we did consider alternative EVM (Ethereum based) and non-EVM networks such as Avalanche/Gnosis/FTM/Starknet and more, we cannot ask everyone in our community to bridge and move, hence our decision is constrained to deciding between BSC and Polygon.
- Community feedback was not decisive one way or the other, however there was an overall slight tilt towards BSC over Polygon. Every vote mattered and was counted!
- Now we are moving away from a game that is played entirely on chain, gas fees (except for fees on Ethereum) do not factor significantly into the equation. If we were to consolidate to BSC only, this doesn’t preclude on-chain games still being played on Polygon either with our existing bridge or through custodial wallets, gasless transactions, etc.
- The number of TANKS token holders on BSC is significantly higher than Polygon, meaning fewer people will be disrupted by choosing BSC.
- More people and more total capital exists on the BSC network than on Polygon at this stage, although we note that many players and investors are savvy enough to navigate this landscape.
- The instability of Polygon has had a major negative impact on our product and we believe these issues will remain on Polygon into the foreseeable future. Insofar as we still have on-chain interactions, we want to use a stable network.
- This decision does not prevent us from launching NFTs on Ethereum or from creating future liquidity pools should conditions change.
It is important to stress that there is no rush nor any downside to having your tokens remain either on Ethereum or Polygon in the short term. Moving liquidity only changes where the decentralised exchange market making occurs. We cannot and do not want to stop private individuals from providing or creating their own liquidity pools or mechanisms on other chains. All existing tokens on Ethereum and Polygon are still official TANKS tokens — this cannot ever change.
What does this mean for me?
If you just want to continue to hodl — this doesn’t change anything. If you want to buy or sell tokens on a DEX — you need to obtain BNB as the gas token and/or bridge your tokens to BSC.
I have never used BSC before, how do I…
We will provide resources in the future on our documentation portal (https://docs.tanksforplaying.io/), however for now, our community can be of assistance during this transition period.
I cannot use BSC — what do I do?
Please contact us if you cannot use BSC and you either want to trade on a DEX or join a game using TANKS tokens.
Do I have to use AnySwap to move tokens to BSC?
No — we will extend the functionality of our bridge to permit token movements from Ethereum and Polygon to BSC. The bridge will be made free for a period of time and we will batch transact token movements to ensure the process is cost effective for all parties. After this initial period is over, the bridge will remain but will function in a part time capacity.
What about staking?
Now we have chosen a chain and as we head towards launching Play-to-earn, we will also launch new staking initiatives. Stay tuned for more details.
When will this happen?
The consolidation will happen on Saturday 7th May.