Nakamoto Games Initiates Stablecoin Development
Nakamoto Games unveils $USP stablecoin plans to radically change play-to-earn and DeFi landscape
Nakamoto Games has a history of exceeding expectations when it comes to our project evolution. What started out as an ecosystem for play-to-earn games quickly evolved into an infrastructure that provided immense value to both play-to-earn and Metaverse gamers worldwide.
To date, we have listed a token which provided over 60x returns to private sale investors at peak prices, a constantly growing suite of sublime play-to-earn gaming options, and an upcoming Metaverse which allows gamers to engage in a virtual world that replicates the real-world economy. However, our latest project is lining up to be the most impactful so far.
The Nakamoto Games development team has initiated research and development on an algorithmic stablecoin project that will bring unprecedented levels of liquidity and stable earning opportunities to the play-to-earn space. The $USP stablecoin will be an algorithmic stablecoin that will be pegged to USD value and will serve as a stable earning currency for gamers across the blockchain space while also having the capacity to be used in the DeFi landscape.
$USP is currently in the research and development stage and is line to be issued over the next 12 months. Algorithmic stablecoins currently provide liquidity of over $25 billion across the cryptocurrency industry and marketplace. Algorithmic stablecoins maintain their value to a fiat asset through a backed pool of crypto assets which is constantly adjusted through a sophisticated algorithm. Algorithmic stablecoins have shown an ability to maintain their value in even the most turbulent market conditions.
$USP will be initially rolled out with a pool of $NAKA assets backing the value of the stablecoin. Depositing $NAKA to an algorithmic pool will be required to mint $USP, ensuring that every $USP will have assets backing its value. The algorithmic pool will constantly adjust the volume of its NAKA assets, tapping into and trading with external markets and repositories, to ensure a stable value for each $USP. As $USP evolves, we will expand the pool to incorporate multiple cryptocurrency assets which can be used to back the value of $USP.
$USP will provide immense value across the play-to-earn industry. It will allow gamers to enjoy stable entry costs into play-to-earn gaming events and also receive reliable and steady returns for their gaming performance. As it stands, gamers predominantly receive crypto assets as the payout for their play-to-earn and Metaverse gaming endeavors. This results in gamers being susceptible to downside movements in such assets and the USD value of their gaming performance being significantly harmed.
Having a payout that has a constant USD value will allow gamers to plan for future gaming events, make earning forecasts, and tap into a more robust and well-rounded gaming ecosystem. Moreover, $USP will provide utility beyond the play-to-earn gaming world. $USP holders will be able to utilize their holdings in the vast DeFi world – lending for returns, utilizing $USP as collateral to borrow, and accessing the broad range of other services within the $79 billion DeFi ecosystem.
$USP is the next major project which the Nakamoto Games team has in the pipeline. We anticipate that the project will positively disrupt the entire play-to-earn ecosystem by giving gamers a stable payout option and DeFi instrument which they currently do not have access to. We will keep the community regularly updated regarding development progress on the $USP project and we will also release a whitepaper for the project over the next two months.