An introduction to the dCity SIM token, the in-game currency of the Hive blockchain based, NFT city builder game.
The SIM token is the in-game currency of the blockchain game called dCity.
dCity SIM is a Hive layer-2 token, meaning you can not only earn it by playing the game, but also buy and sell it on any of the Hive-Engine front-ends such as Leo DEX and Tribaldex.
Our dCity SIM guide is here to show you that this humble in-game token can also act as your gateway into the world of gamified DeFi.
Nothing shows that the lines between gaming and making money in cryptocurrency has blurred like the dCity SIM token.
Introduction to dCity SIM
We introduce the dCity game itself and the economic driver making everything tick, the SIM token.
Before launching into this comprehensive guide to dCity SIM, let’s kick things off with a couple of introductions.
We start by introducing the game of dCity itself and then a tokenomics overview of the dCity SIM token around which this guide focuses.
Let’s go.
The dCity game
dCity is a Sim City style game that uses NFTs to represent the various pieces of infrastructure within your city.
Each dCity NFT card acts as a certain building, citizen or piece of technology that affects the makeup of your city.
All up, your dCity NFT collection is what makes up your city.
To effectively earn both a SIM and HIVE crypto income playing dCity, your task is to optimise your city.
This is achieved by buying, selling, adding and removing cards to achieve the right balance for your city, across all of the various in-game metrics.
Depending on how it has been built, there are also events that will have either a positive or negative impact on your city.
Every change you make will have an effect elsewhere within your city, ultimately positively or negatively on your SIM income.
The dCity game is best described as being a numbers game, but with the added randomness of society.
Or we like to simply go with gamified DeFi featuring the dCity SIM token as the economic driver that makes everything tick.
The dCity SIM token
As we touched on above, the dCity SIM token is the in-game currency of the game itself.
dCity SIM is a Hive layer-2 token, meaning you can not only earn it by playing the game, but also buy and sell it on any of the Hive-Engine front-ends such as the Leo DEX.
When you play the dCity game, you’re able to buy 1 randomly generated NFT card for either 4 HIVE or 800 SIM tokens.
Doing some quick math, what this means is that 800 SIM x 0.005 = 1 HIVE.
This is the basis for what we’re going to refer to as a soft peg for the dCity SIM price.
It’s not a true peg because there’s nothing defending it other than that simple equilibrium point that when the price of SIM dips below 0.005 HIVE, encourages SIM to be boat off the market to buy cheap cards.
The other aspect to this soft-peg comes in the form of in-game income taxes.
The income tax level varies, based on the average SIM token price over the previous 3 days.
This means that when the SIM price goes down, this tax should go up and decrease inflation.
The opposite being the case when the SIM price goes up.
Now take a look at the SIM chart below and you’ll see something quite interesting.
That’s right, SIM is on sale, trading WAY below the 0.005 HIVE peg.
With the equilibrium point this far from the peg right now, an assumption can be made that new purchases have slowed right down and established players continue to dump their SIM at whatever market price they can get.
Even with income taxes in the 90-100% range, SIM continues to be dumped on the market and there’s just nobody there to soak up that supply.
But this is a trend that can’t last forever.
In the midst of a popularity explosion for play-to-earn games, will we see soon see demand for new NFT cards increase?
If we do, we will quickly see the dCity SIM price rip higher as the equilibrium point is pushed back up toward the soft peg.
Only time will tell.
In the meantime, let’s get into the meat of this guide to dCity SIM.
Best of probabilities to you.
Direct from the desk of Dane Williams.
Why not leave a comment and share your thoughts on dCity SIM within the comments section below? All comments that add something to the discussion will be upvoted.
This dCity SIM blog is exclusive to leofinance.io.
Posted Using LeoFinance Beta
This was one of the issues we had with dcity.
The soft peg is not enough, it needs to be backed by something
A huge amount of USDT will do and other things.
Let's hope to see explosions in the future.
There are already new people coming into dcity and old guys are restructuring
But I don't agree with the premise that SIM below its soft peg is a bad thing.
These low SIM prices are great for anyone new starting out in the game.
You can buy a ton of cards on the cheap and grow your city faster than those early adopters could.
Either way, I think that equilibrium will be found again eventually and SIM will return to its soft peg.
There will be new players joining as P2E gaming grows and the SWAP.HIVE:SIM Diesel Pool is just another sink for those who currently hold the SIM token.
Personally, I'm excited for both the future of the game and dCity SIM token.
Posted Using LeoFinance Beta
If you say so.. Let's see.. I actually love dcity..
I have a few cities and bought some from people.
Anything that happens to dcity, I gain..
Thanks for the guide
Oh I didn't realize that was how they were setting taxes since its so high already.
Posted Using LeoFinance Beta
Yep, high income taxes aren't just to steal from players haha.
It's an in-game mechanism designed to find that equilibrium for the price of SIM.
Very cool if you ask me.
Posted Using LeoFinance Beta
Well , nice strategy here. The coming of NFT gave gamers opportunities to move from play for fun to play and earn games ( NFT).
Early users of this game will benefit more when the NFT world settle in in the cryptocurrency world
Posted Using LeoFinance Beta
dCity will certainly have a place when the crypto world settles further into NFTs.
The dCity NFTs may not look as cool as say the Splinterlands NFTs, but the DeFi aspect of the game is miles ahead.
This is what I really love.
Posted Using LeoFinance Beta
I jumped in yesterday thanks to you, and I'm having fun learning. I minted quite a few cards and started working on balancing out my city. Care to take a look and let me know what you think? I'd really appreciate any feedback or tips!
Posted Using LeoFinance Beta
I just jumped over to your blog, upvoted and left you a comment.
You can read it and reply over there, but I'll just reiterate to anyone else reading this comment that high taxes make generating a SIM income from a small city hard at the start, but you will quickly see the possibilities if you scale up.
Enjoy :)
Posted Using LeoFinance Beta
Thank you for sharing this, it is very helpful
You're welcome, mate.
Are you currently investing in the dCity SIM token?
Do you play the game for fun or purely to maximise your profits?
Posted Using LeoFinance Beta