Clam Island Essential Visitor’s Guide

What is Clam Island?

Visitor’s Info Center

Clam Island Bank

  1. Exchange between cryptocurrencies (in the future, you will be able to directly use currencies such as dollars, euros and others to buy a cryptocurrency of choice).
  2. 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.
  3. 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.
  4. 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. Purchase Clams with $GEM tokens, which you can buy from the Bank or earn from your investment pools. 80% of the $GEM used is burned (meaning destroyed forever) to combat token inflation and to create a sustainable ecosystem, while 20% of the $GEM is transferred to Clam Island treasury to fund ongoing Clam Island development. We have a much bigger vision for Clam Island and many planned features and expansions — stay tuned!
  2. 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. Deposit Clams in order to produce Pearls. It costs 10 $GEM and takes between 1–5 days to produce one Pearl, and each Clam has a fixed lifespan trait (randomised between 5–15) that dictates how many Pearls it can produce before it dies. A dead Clam can still be traded or held as a collector’s item, but it will no longer be able to be harvested for $SHELL tokens in the Shop, and it can no longer produce Pearls.
  2. Collect produced Pearls and withdraw deposited Clams (for example, if you want to sell them).

Saferoom

  1. View all of your Clams, except those that you deposited in the Farm (which you can view from the Farm);
  2. View all of your Pearls, except those that have been produced but have yet to be collected from the Farm.

Markets

A few technicalities…

  1. Blockchain — this is the technology that makes Clam Island possible. It is a decentralised immutable system of verifying transactions without requiring a central authority, like a government or a bank. All transactions are also (generally) publicly available and therefore verifiable by anyone. Today there are many different blockchains, and the chain that Clam Island is built on is Binance Smart Chain (BSC). It is also possible for a project to go cross-chain to increase reach and exposure. Clam Island has plans to do this in the near future after launch.
  2. 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.
  3. 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

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

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Clam Island

Clam Island

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

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