Metale V3 Product Introduction:
V3 will be upgraded to the decentralized publishing protocol Metale Protocol.
All users are free to publish their own works;
All users are also free to mint shares for other people's works and become decentralized publishers of the work.
Shares are minted using RCM, and all minted RCM will be put into the liquidity pool of the Collection (with handling fees deducted). In each Collection, as more Shares are minted, the RCM required for the next Share to be minted will increase.
The specific formula will be released before going online.
Each Share can be put into the liquidity pool at any time to exchange for the last RCM amount invested in the Collection. (The handling fee will be deducted)
Shares can be claimed as bNFTs, and bNFTs can be upgraded.
This claim is one-way. Once a Share claims bNFT, it cannot be converted back to Share, and it cannot be exchanged for the corresponding RCM in the liquidity pool. This part of RCM will be permanently retained in the liquidity pool.
Shares and bNFT are both governance NFTs of the work, and can only be minted within the total amount. They have the same governance and reading permissions. However, the durability value will help bNFT obtain more revenue sharing.
1. Key points extraction and analysis:
1. bNFT related mint functions (remelting, scrolls and whitelist) will be temporarily removed from the shelves on 2023-10-10.
1) All works published in V1 and V2 will be included in V3. All bNFTs that have been minted will have the corresponding amount of RCM injected into the liquidity pool by the reserve.
Therefore, a Collection that has minted a large number of bNFTs will have a higher total market value of the Collection in the early stage and will receive more revenue sharing.
When V3 is launched, the V2 minting method will be suspended. All new governance NFTs will be minted in the form of Shares and converted to bNFTs through Claims.
Interpretation: Metale Version 3.0 has a clear upward trend in price due to the increased demand for RCM. The rising RCM expands the value of Own2N, and bNFT increases in value due to the phased limited supply. If you are optimistic about Own2N, you can mint the hand-held scroll into bNFT as soon as possible.
2. The restoration method of bNFT and iNFT remains unchanged, and book cover and gem restoration are still retained.
1) Metale Version 3.0 mainly adds the bNFT version of Share gameplay, and does not make any framework adjustments to the original Own2N and Read2N gameplay.
2) Since Own2N and Read2N, as the POS and POW generation forms of RCM, are too complex and difficult to use, we will gradually simplify them to lower the threshold for newcomers to use them.
3) In the future, all iNFT-holding players will be able to read all works in the agreement. The main basis for the distribution of rental income will be the total market value of the collection of the work, as well as some other factors. It remains unchanged at present, and will be adjusted at the appropriate time, and notification will be made.
3. The function of generating scrolls (original scrolls and new book scrolls) in treasure chests will be removed on 2023-10-05.
1) In V3, new governance NFTs can only be obtained by minting Shares, so the function of producing scrolls from treasure chests is suspended.
2) After Metale Version 3.0 is released, the function of exchanging scrolls for book covers, gems, and WCM will be enabled in due course.
2. AMA Q&A and analysis and interpretation:
1. What is the value of scrolls in version v3?
In V3, users can cast shares of a book directly without any props, that is, bookboxes. These bookboxes can be opened, and users can get bnft after opening. If you use scrolls to cast, you can get bnft directly. Considering that users will choose to cast shares=bookboxes directly in the future, we will reduce the output of scrolls and eventually cancel the output of scrolls.
If we decide to cancel the scroll casting function in the future, we will give you a suitable item to replace it. But please use it as soon as possible if you want to use it.
In version V3.x, it may be reduced or even disappear.
The reason for this is that we believe the new forging model is more advanced and more in line with our current development. In the future fully decentralized V4 version, there will be no more scrolls.
Personal interpretation: Scrolls and white boxes will be suspended when V3 is launched, and will be enabled again later. According to internal sources, the suspension will be done before the product is launched on October 10. Mint will be opened later. If it is completely cancelled, we will inform you in advance and give you the corresponding replacement plan.
Does it mean that if you use it as soon as possible before October 10, you can continue to participate in OWN's fund earning during the V3 version period by holding NFT, which is a way to keep your assets idle. Or, you can gamble on the policy gameplay when reopening the Mint. The worst case scenario may be to exchange other props at an equivalent value? Continue to circulate? But if it is foreseeable, without a good way to deal with it or restart the gameplay, it may depreciate.
2. What to do with a pile of books with 0 durability?
Bnft with durability of 0 and bnft with durability are both bnft. They can participate in the copyright governance of this book as equals and obtain distribution from copyright income. Durability only affects the LCT of bnft. It affects the distribution of the rental income of the work. In the future, we will also distribute part of the transaction fee to shares, the holders of bnft. Durability will affect the distribution ratio.
My interpretation: BNFTs from Mint can now participate in the distribution of copyright income, and Shares may also have benefits in the future. Is it similar to upgrading to R0 and then continuing to R2, etc., which may add another RCM consumption scenario. The R0 that you dislike today may be out of reach for others in V3.
3. What adjustments will be made to various props? Which props will be retained? How will the obsolete props be handled?
In the V4 version, there will be no props. As the development of V3 is gradually completed, the role of props will gradually decrease. Please deliver the props in your hands as soon as possible, instead of hoarding them. When we cancel the props, we will provide a redemption plan.
Personal interpretation: I have confirmed with the project owner that the use of book covers and gems will not change in the short term. This is a gradual process. The props will be processed slowly in the future, and it is possible to redeem them into BNB or WCM on that day. Be cautious about the opportunities and challenges here, and be vigilant if you want to speculate on props to make a profit.
4. How to prevent the indiscriminate publication of new books? And the theft of non-original books? Will completely unlimited book publishing have an impact on the book-holding mining model?
We will arrange it as soon as possible. In V3, any category of content products can be published.
The gameplay of Own2N will be greatly adjusted. All rental income will be ranked according to the total market value and transaction volume of each Collection. Works without market value and transaction will not be allocated from the rent. Therefore, low-quality works will not affect the health of the overall ecosystem. Impersonation works will also be easily abandoned by users.
Only popular works can receive rent distribution, earn higher income, gain community support, and get more distribution opportunities.
In the future V3 upgrade, the rent distribution will take into account the total market value, transaction volume, community activity and other data of this series.
Personal interpretation: Everyone can publish books, and the market determines the value. If the community supports and has many participating users, then the NFT holders of the author will naturally earn more. According to comprehensive data, the project team has considered the impact on the mining model, so they have made minor adjustments to the distribution, which is more reasonable. However, it may be disadvantageous for writers who used to slack off. If no one supports the garbage books they publish, there will be no income. There may be a positive cycle, but if there are not enough market users, it may not be able to attract more authors.
5. If there is no need to rent books, what new consumption will there be for RCM and WCM? How to ensure the value of RCM and WCM?
RCM will be the only token for mint shares (bookboxes) in V3. As more and more works choose Metale Protocol for Web3 publishing, it is foreseeable that there will be a huge demand for RCM. These RCMs will be locked in the liquidity pool of each book.
WCM is the governance token of Metale Protocol. All net profits of our platform will be used to repurchase WCM and destroy it, or repurchase RCM and distribute it to WCM holders in proportion. This is the greatest value of WCM. At the same time, when some famous authors' books are published, users who hold more WCM will have the priority of minting. When paying transaction fees, you can get discounts by using WCM.
Personal interpretation: With the addition of more Shares under Mint, RCM will have a huge demand for pledge, which means that a substantial increase in the price of RCM is inevitable. RCM is valuable, and 1:1 WCM will also have greater value. Although there is no use case for WCM yet, this pie can also make users who hold more WCM feel more at ease.
6. What other uses does the Genesis Book have in the future? What is the significance of the whitelist?
Genesis bnft will have the opportunity to participate in the Metale Protocol product governance. And, will receive our WCM airdrop. Whitelisted can mint Genesis bnft. In V3.x, whitelisted can get priority minting rights.
We will provide whitelist NFT to the market when the time is right. The main function of whitelist NFT is marketing and customer acquisition.
Personal interpretation: Whitelist can give priority to minting the Genesis Book. I would like to make a bold guess. Is it possible that the future high-level green and blue books are minted from the white box? This gameplay is interesting, but it is also a good thing to temporarily stop minting. It is estimated that the calculation model is too complicated. If the Shares gameplay and the white list are superimposed, they will affect each other. It is better to wait until the model is processed before opening it. The value of the white box may take off, or it may be disposed of into other gameplays. Be cautious.
7. Will books be automatically rented out if they are no longer needed? Is there any benefit from holding books, especially upgraded books?
In V3, when using inft mining, you need to pay rent. But it is no longer paid to a certain work, but directly pays a certain amount of bnb.
In V3, when using inft mining, you need to pay rent. But it is no longer paid to a certain work, but directly pays a certain amount of bnb.
In V3.x, Own2N no longer needs to "rent out". You can participate in the rent distribution by holding bnft. Books with high durability will receive higher distribution.
Personal interpretation: It makes it easier to rent books and mine. Those who hold valuable books or IPs will have a greater chance of getting high rents. The gameplay of OWN2N requires a keen eye and investment skills, while the gameplay of mining should rely entirely on the properties of INFT.
8. Will NFT automatically mine RCM? Does it still need energy gems for maintenance? Does the upgraded INFT have a higher computing power?
Inft mining is not automatic, you need to pay rent to start mining. Higher efficiency means higher computing power. In V3.x, the luck value will be merged with the efficiency value into a new efficiency value.
Users can decide whether to participate in mining on a particular day based on the current daily output, RCM price, and their own computing power.
In the future V3.x, perhaps gems will no longer be needed, mining will not cause loss of inft, and inft mining will not require reading.
Perhaps in our future versions we will provide another product - paid reading, for users to pay for reading. All paid income will be distributed to authors and bNFT holders. The platform will receive 20% of the income. Reading can be rewarded.
Personal interpretation: Does it mean that INFT will rise sharply? The RCM price will be relatively high in the future, and the cost and mining output of INFT will also be relatively high. The previous INFT mining machines may be the last batch of low-priced ones. If the mining machines no longer have wear and tear in the future, the value of INFT mining machines will be higher, because this is the real way of mining. Good news for INFT.
The way to play reading will be in paid reading, and the fees received will be shared among the authors and NFT holders. If you want to earn this income, you must read and invest in valuable books. Only in this way can the true value of reading be reflected and shown in the returns.
9. Why move to the opbnb chain? New books are published on the opbnb chain, so should the original old books also be migrated to opbnb?
This is the content of our cooperation with bnbchain. We appreciate the project ecology of bnbchain and the stability of the public chain. We believe that our cooperation can achieve a win-win situation.
All shares (bookboxes) of V3 will be on opbnb. However, the future issuance of a collection of bnft on which public chain will depend on DAO.
My personal interpretation: I am getting closer to BNBChain. I feel like if I get closer to the official and get more support, I may get more opportunities and more support! I hope I can get support.
10. When will the next RCM halve? If RCM halves again, according to the current price and game rules, it is estimated that the number of people renting books will drop sharply. Will there be a new game rule by then?
The next halving is expected to be in 60 days. The increase in RCM prices will attract more people to participate in the mining game.
I believe V3 can bring a whole new situation.
Personal interpretation: If the price of RCM is high enough, less output may bring more opportunities. If the rental cost remains unchanged, the number of people renting books and mining tokens may not decrease, because people will join if there is profit space. But if the price of the coin is high enough or the multiple is high enough, and the community is attractive enough, then more people will participate, and RCM will spiral upward, which can be regarded as opening up a new situation.
11. RCM is deflationary and the total amount is fixed. In the later stages of gameplay, if RCM needs to be consumed, will dynamic balance be adopted or will a fixed RCM consumption method be adopted? ? ?
In V3, all minting costs will be left in the liquidity pool of this book, and users can withdraw them at any time. The handling fee will also be paid in RCM and distributed directly to all parties. The RCM consumed by minting INF will enter the reserve as before and be used for future needs of the project.
Personal interpretation: If the V2 consumption scenario continues, then the consumption + staking of Mint Shares will bring more RCm market demand, which is good for RCM.
The above is an in-depth analysis from an old Metale player, I hope it helps you;
I wish you make more money in Metale V3!