Clam Island Essential Visitor’s Guide

What is Clam Island?

Clam Island is an immersive 3D island where you can invest using the power of blockchain and yield farming by interacting with in-game characters. You can also buy Clams and use them to produce Pearls, both of which are NFTs that you can use to generate yield, boost your investment returns, keep because they’re cool, or sell to another collector.

Visitor’s Info Center

This is the lighthouse building you see at the back. All types of information about Clam Island and its ecosystem, including this guide, can be found in there.

Clam Island Bank

This is the building you see in the centre of the island. Once inside, you will be greeted by Tanja, our resident Clam Island banker:

  1. Choose an investment pool to deposit your funds. There will be a range of different cryptocurrencies, with each pool yielding a variable rate of return. Some pools are safer than others in terms of price volatility — we have given them a risk rating as a guide. Riskier pools tend to have higher yields, but you would be more exposed to a drop in the value of your principal.
  2. Collect your yields in the Clam Island native currency, $GEM. These tokens can be easily converted to other cryptocurrencies, be invested into the native $GEM token pools for higher yields, or be used to buy Clams / produce Pearls! Keep reading to find out what Clams and Pearls are all about.
  3. Boost the yields in particular investment pools using your Clams or Pearls. The amount of $GEM boost will depend on the traits of your Clam or Pearl.

Clam Shop

  1. Harvest your Clams for $SHELL tokens, which is the governance token of the island. The harvesting process will destroy your Clam and is irreversible! The more Pearls your Clam has produced, the more $SHELL tokens it can be harvested for (unless the Clam is dead — pay attention to the Lifespan trait! More on this under the Farm heading). These tokens will allow you to participate in future democratic governance decisions relating to the development and management of Clam Island, and they can also be invested in the Bank to earn yields in $GEM. The supply of $SHELL is limited and can only be increased from harvesting Clams.

Clam Farm

  1. Collect produced Pearls and withdraw deposited Clams (for example, if you want to sell them).

Saferoom

  1. View all of your Pearls, except those that have been produced but have yet to be collected from the Farm.

Markets

Wait, another building? Ok, so this one hasn’t been built yet, and won’t be ready until some time after we open Clam Island. This will be where you can trade your Clams and Pearls directly on the Island. Until then, you are able to trade Clams and Pearls on third party NFT marketplaces, or you could still use them to produce Pearls / boost Bank returns or harvest for $SHELL tokens in the case of Clams.

A few technicalities…

There are a few technical terms used in this guide, so in case you are not familiar with them, we give a (very) short explanation here:

  1. Yield Farming — a cornerstone of the Decentralised Finance (DeFi) movement enabled by blockchains with smart contract capabilities such as Ethereum and BSC. Yield farming is a way for investors to earn returns by depositing funds into a “farm” consisting of various pools that are purely governed by a smart contract. Users can “farm” the returns by “harvesting” the rewards (like $GEM) as you would a crop, and then choosing to sell them, keep them or reinvest them. Funds deposited in a legitimate yield farm are governed only by the rules publicly verifiable in the smart contract code; no one else has arbitrary control of the funds, unlike in a traditional banking or investing scenario.
  2. NFTs, or Non-Fungible Tokens, is a type of tokens on the blockchain designed to represent a particular asset (instead of a currency where every unit of a particular token is interchangeable with any other unit of the same token). Leveraging the decentralised, immutable and public nature of blockchain, NFTs are pioneering new ways to digitally represent physical assets, and to create novel types of digital-only assets. Benefits of NFTs include that they are secure, traceable, ownable and publicly tradeable on decentralised marketplaces. By making our Clams and Pearls NFTs, we make sure that every buyer of a Clam or producer of a Pearl truly owns that Clam or Pearl and can do whatever they want with it (including selling it to anyone and in any way that they want), and that the Clam / Pearl traits and rarity cannot be forged.

More information

If you want to deep dive into the nitty gritty of the numbers and how Clam Island works, here’s a few useful articles for further reading:

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Clam Island

Clam Island

Gamified Yield Farming + NFT on Binance Smart Chain. Earn, collect and trade on Clam Island