Clam Island Week 1 Recap + Parameter Adjustments for Week 2

Clam Island has officially been live for one week! We’d like to take this opportunity to thank everyone for their support. Community is everything and Clam Island would not be where it is without you!

Summarising our launch

The above is a summary of key metrics approximately 24 hours after launch. However, soon after that period of time, both $GEM and $SHELL token price began to fall, and appear to only have bounced / settled now.

This is, in our view, simply the combined effects of early short term yield chasers and marketing that unfortunately took a bit longer to get started than expected. However, we do not believe that any of this will matter in the long term. We have poured our blood and sweat into this platform for 7 months, and now that our community has proven that Clam Island is fun and addictive, we are forging ahead at full steam. Our marketing campaigns have only just started kicking into gear, and we expect to be able to unveil several new partnerships in week 2.

Week 2 Parameter Adjustments

The passing of the first week also means that a few parameters are being adjusted. We understand some community members had concerns over the $GEM emissions specifically. However, we ran extensive modelling prior to launch, and we believe our system is flexible enough to reach to market demand through its weekly adjustment mechanism. This is why we are waiting till now to let the smart contract adjust itself. We did not want, nor did we think it was necessary, to implement knee-jerk changes to important parameters such as $GEM emissions.

In any event, without further ado, the parameter changes for week 2 are as follows:

Firstly, the purchase price for Clams has been reduced to 75 $GEM. This is an automatic smart contract adjustment based on demand of Clams in the previous week, as we mentioned pre-launch. In the first week, 932 Clams were purchased. While this is nothing to sneeze at, it is still some distance off the first week available supply of 2,500 Clams. This is why our smart contract has now lowered the Clam price.

The lowered price should see an uptick in the number of Clams being purchased, especially as we ramp up marketing. And if we end up selling out a week’s supply, then the price of Clams for the next week will go up, with the exact amount depending on how early we sold out.

The price reduction for Clams also means that two other parameters are adjusted proportionately — the Pearl production price, which is now 5 $GEM for this week, and the $GEM emission schedule, which will be reduced to 1.5 $GEM per block for this week to take into account the fact that half the amount of $GEM would be getting burned for each Clam sold / Pearl produced.

Lastly, as a tweak to the system, we are adjusting the Pearl Boost traits-changing frequency to every 24 hours instead of every 3 days. This means you will wait 3x less time for you to boost your rewards using Pearls, but it also means that it can be easy to miss when one of your pearls is actually available for boosting!

We will continue to monitor the ecosystem for further adjustment, as well as to listen to your feedback to make Clam Island as fun and sustainable as possible.

In the meantime, as always for the latest updates, please follow our Twitter, Telegram and Discord.