Litemint - Multifaceted Stellar Wallet
Thank you for the feedback.
Any sales from published third-party games and apps are 100% going to the developers’ pocket, Litemint does not take a cut. Developers also remain free to adopt any revenue model they see fit (either product or blockchain asset-based).
Litemint aims to remain currency-agnostic, so the platform itself will not issue its own token or ask developers to buy a specific one. Instead, developers can publish apps, games, services that promote their own assets.
To illustrate quickly:
Example 1) a game studio publishes a Collectible Cards Game on Litemint.
- It can sell cards as blockchain assets, freely tradable on the DEX.
- It can issue a blockchain asset as currency that players acquire to buy in-game cards.
- It can list in-game items (not blockchain anchored) and redeem players upon payment confirmation on the blockchain.
- Mix any of the above options.
Example 2) A currency is running a masternode network and its devs publish a masternode management app on Litemint:
- After anchoring their currency to Stellar, they start selling masternodes or shares directly in the shop
- They can sell other related services that are not blockchain-based (dashboard, staking, support…)
Litemint is now running a live example of how anchor services can be added as third-party app to the platform.
Anchors can also benefit from integrated shop features such as decentralized cross-currency purchases allowing the anchored asset to be purchased from any other stellar asset through path payments via a single BUY button in the shop listing. Shop listings can also be used to expose additional paid services from anchors (similar to selling in-app products) and more generally provide a great way to raise awareness for the anchored asset.
The service will be available free of charge to any anchor, Litemint takes no cut and any sale through the shop is decentralized.
Do not hesitate to drop me a line to discuss your specific use-case if interested to add your anchor to the platform when it opens up to external developers.
Hi everyone,
Glad to announce another upcoming in-house production—besides being eponymous, this one is major!
LITEMINT.IO is a unique massively multiplayer collectible card game for distribution on the Litemint apps platform, web and mobile stores. And yes, that means tons of items, goodies and legendary artifacts to earn—all tradable on the Stellar DEX. Card reveal and release in Q4 2019.
Some more material:
Betting on Stellar for Game Monetization. 3 pilot games, 17,000 mobile installs. Read the full case-study here.
Another blog article explaining the publishing strategy for games and collectible contents on Litemint:
https://blog.litemint.com/doing-it-right-the-tokenization-of-game-assets-on-stellar/
- Edited
The Grin anchor is great! Lacks liquidity though. Would be nice to arbitrage it
Edit: What I meant is "to provide it with liquidity".
MisterTicot Thanks, the linear emission rate of GRIN could prove useful for merchants. This raised my initial interest to provide the anchor service. It will become much more practical when support for SEP-0006 is added (sometimes next month) and we could see more volume as well.
- Edited
While I never ran an anchor myself, I've closely watched them evolve over months as I wrote Equilibre.io.
My observation is that you can't expect users to bring the liquidity in. Anchors that went this way are almost all dead by now (REPO, EURT, WSD, STEEM, SBD, MintX ...).
On the other hand, anchors that pro-actively implemented liquidity providing solutions received user attention and seems to have bootstrapped a virtuous circle.
If you think about it, this is quite logical as most people will only take position in already liquid, low-spread pairs; And exchange also rank those pairs higher, giving them more visibility.
MisterTicot Good points, the usual causality dilemma, I will look into solutions and it could be an opportunity to finally play around with Kelp. I will put on my TODO with SEP 006.
In Litemint, merchants can also support anchors by listing their items in the anchor asset. Since all shop transactions are solved through path payments, this means that anytime an order is placed in their shop, regardless of the source currency, an order is also executed on the DEX using the destination currency (anchor asset). As the platform grows, this could really help anchors to increase daily volume.
Liquidity & volume are not the same thing. Liquidity refers to the order book thickness & spread. In other words, how much untaken offers are there. That's what you need liquidity providers for. (sorry, I misused the term arbitrage bellow - what I meant was liquidity provider).
Volume happens when offers are taken, which factually removes liquidity. For instance, pathPayment matches offers, hence removes them for the orderbook, hence removes liquidity.
This is an important difference, because bringing people to use pathPayment over an illiquid order book will not increase your volumes nor your liquidity: it will only piss off people because they'll pay a 10% premium or worse due to the high spread/low-volume situation.
So while SEP-0006 is to bring in customers, providing liquidity is a required preliminary step for them to have a nice & smooth experience.
MisterTicot Sure, put simply, liquidity decreases as the spread increases. However, volume does not factually remove liquidity from markets (only from a theorical standpoint). In fact, the reality is opposite and because of the virtuous circle, markets traded on very high volume maintain a tighter spread and always remain more liquid (e.g. FOREX, the world’s biggest market by volume is also the world’s most liquid).
I also noticed that when I initially listed items in the MAG currency (magnetwork.io). As orders got executed from path payments to fulfill shop purchases, I could spot discussions on Stellarport chat from traders who had noticed the volume increase and the order book started to fill up naturally from interest during that period, the spread got tighter at that time.
I do agree that Stellar anchors lack liquidity in general and that issuers need to help on this to leverage path payments—bootstrapping as you said.
Litemint purpose is also about drifting away from speculation to derive utility from currency (e.g. from enjoying some in-app product), hopefully increasing interest for the currencies at stake between merchants and users.
More Stellar path payment action with in-app purchases:
Scenario 1: player buys a game item with USD → merchant receives BTC.
Scenario 2: player buys a blockchain collectible skin, dex execution → instant fun.
Tradable, Breedable, Non-Fungible Tokens Now Available on Stellar with Litemint
First newsletter installment - Talking about upcoming games, 600% user growth in Q3, the way forward for blockchain apps, multiple daily challenges in October and more...
Designing Casual Games for Crypto Adoption on Stellar – LITEMINT.IO + Beta testers needed.
https://blog.litemint.com/designing-casual-games-for-crypto-adoption-on-stellar-litemint-io
Litemint I checked your project and it looks great! Surprisingly deep thoughtfulness of the user interface. And also accessibility for all platforms is really cool. There are even no questions. Well, there may be one question - how do you plan to monetize your platform if you do not rely on grants like this SCF?
Scopuly Many thanks for the feedback! Litemint will be monetized with ad placements on searchable content (games, apps, in-app, listings, NFT searches) and possibly pre-roll on games, scaling up with user growth and engagement.
The grant money could help the platform reach escape velocity much faster and scale up to the point where my pitch to content publishers (games initially) has more weight. Ideally by the time the platform is ready for third-party publishers, monthly active users are in the 6-digit range (that's my first milestone, hopefully during Q4).
10% budget for development related expenses seems very low. I'm assuming the community here would like to feel they are getting value back from funding the project, more so than funding your success as a business. Just my 2c