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Echelon Bonds Alpha to Revolutionize Digital Asset Sharing in Gaming

Echelon Bonds Alpha is Set to Revolutionize Digital Asset Sharing in the Gaming Industry

Echelon has recently introduced Bonds, an innovative guild system that aims to facilitate gasless and permissioned digital asset sharing within its gaming ecosystem. The company plans to initiate Alpha testing of this system in the coming weeks, involving Parallel players and administrators from five different Bonds.

With Bonds, players will have the ability to borrow NFT cards and complete decks without any upfront costs, greatly enhancing the free-to-play aspect of Parallel. This sharing system allows players to access NFTs and PRIME rewards at no cost through gameplay winnings.

According to Echelon’s report, several essential components of Bonds operate on-chain, including membership, member management, and rewards distribution. Each Bond is represented by an individual smart contract deployed by the Bond Factory smart contract. Creating a Bond incurs a PRIME fee, which covers the first five members, with additional costs for adding more members. Bond members are identified through their Ethereum wallet addresses instead of traditional web2-style user profiles.

The distribution of PRIME to Bonds and card lenders also occurs on-chain. Whenever players earn PRIME using borrowed cards, a portion of it is allocated to their Bond’s smart contract. The lender rewards Merkle root is continuously updated to reflect each lender’s claim on the earned PRIME. Detailed information on bond rakes and earnings will be provided in a subsequent update.

In order to manage lending pools and communication with partner game clients, certain components of Bonds operate off-chain. This approach is taken to avoid network fees associated with Ethereum L1. Initially, Bonds launched with one asset pool, which could be expanded to three pools for additional PRIME fees. This allows for different tiers of asset access without the need to deploy new smart contracts. Assets such as Keys and Cores can be added to a lending pool, including those held in wallets and Echelon smart contracts like Caching pools.

Off-chain API calls between the Echelon-managed Bonds backend and the Parallel Game System (PGS) handle lending management. Only Echelon can authorize permissioned lending requests, and lending cycles last for one week. Players have the option to request assets mid-cycle for the following cycle. If a player decides to leave a Bond mid-cycle, any lent and borrowed cards will remain until the cycle concludes.

The sustainability of the ecosystem heavily relies on Bond fees and rakes. Two types of rakes are imposed before determining a player’s PRIME earnings from borrowed cards. The first rake, amounting to 5%, supports the Sink Schedule, which is crucial for the long-term success of the PRIME ecosystem. Bonds are designed to serve as a pillar of sustainability as the player base expands.

The second rake, currently set at 10% in the alpha version, is divided between the Bond and card lenders. Lenders receive a proportionate amount based on the number of cards they provide. In future releases, the Bond and lender rakes will be customizable. The remaining PRIME after these rakes is distributed to the player through the usual gameplay mechanism.

It is important to note that due to the gasless sharing system, potential issues may arise if lent cards are sold during a cycle. The Parallel game client reads and registers assigned cards during match wins, and discrepancies may occur if lent cards are moved to other wallets. Bond leadership must educate members on the risks associated with selling lent cards, as breaches can result in slashed or withheld earnings. Players who wish to sell cards not attached to their Bond but linked to their Parallel account should transfer the card to a wallet that is not associated with their Parallel account before listing it. This will ensure proper attribution of PRIME earnings and eligible card IDs.

With the introduction of Bonds, Echelon aims to revolutionize digital asset sharing in the gaming industry, making it more accessible and cost-effective for players. The upcoming Alpha testing phase will provide valuable insights and feedback to further enhance and refine the Bonds system.