Stage 1 - Preparing for Launch
I first heard about Alien Worlds through Binance. Its token, TLM (or Trilium) was listed on the Binance Launchpool after I started staking BNB for ALICE. It sounds interesting enough, "a simulated economy where players compete with NFTs". There was no other use for my BNB at the moment besides staking so I decided to switch to staking for TLM.
The amount staked in the BNB pool rose astronomically as staking for ALICE ended and the Launchpad allocation was called for TKO. Farming timeframe was 30 days and the time until listing was 7 days. Staking for an unlisted coin is an interesting concept, because you have no idea what the coin might be worth (as it's not listed yet), you can't really calculate the Annual Percentage Yield (APY) yet. I will give an update on the staking yield once TLM lists on Binance and exit trades been made. The end game would be to earn a passive income from staking or lending crypto for me, so knowing the APY is very important.
Stage 2 - Do Your Own Research (DYOR)
You hear this phrase thrown around a lot in the crypto community. But what does it actually entail? For me and Alien Worlds it became two things: 1) read the white paper and 2) play the game. After all, Alien Worlds has quickly moved up to the number 1 blockchain app according to Dappradar with more than 68k new user signups in the last 24 hours.
I decided to play the Alien Worlds game to learn more about what it is (given I'm staking BNB to get TLM) and also to earn more TLM. The payout from Binance due to the high amount of BNB staked to get TLM was about 0.09 TLM per hour. I wanted to get more if there was a slight chance to replicate what happened with the TKO listing.
Signing up to the game required you to create a WAX wallet which you'll be redirected to do so from the Alien Worlds main sign up page. The game itself is very simple (click and play) and as it is relatively new, there are many functions listed on the whitepaper that has not yet been released. You'll be given your character card and also a tool for mining (a standard shovel). There are tonnes of articles out there about how to optimise mining with equipment you can buy from AtomicHub.io so I won't go into too much detail.
What I did find interesting is that mining on Alien Worlds is actually perming mining action on the blockchain. The computer or smart phone device is performing some functions to solve a problem and gets in return rewarded in TLM and if you're lucky NFTs (so far I have not found any NFTs from mining).
I ended up buy a few cheap drills and a gasrigged extractor (because I actually prefer higher cooldown times so that I don't have to check so often) and started mining on different planets just to try it out. Different plants will have different pools of TLM to mine and then on each planet, each piece of land might have different TLM commissions divided between land miners and land owners. Try to get on ones with lower commissions (which are typically owned by individuals).
Stage 3 - Preparing for Exit
Total investment: $63 (or 279 WAX) on equipment that yields higher TLM and higher chance for NFTs (so far I've received maybe 5 common NFTs or once per day at the very least)
Total return (TLM): 101 TLM mined in game (a few restless nights as you have to click when cooldown finishes to claim TLM, it doesn't auto accumulate) + 15 TLM from BNB staking = total 116 TLM
Total return ($): $79
15 TLM @ 0.000022 BTC/TLM (about $1.40 per TLM; total $21 for the BNB staking) + 101 TLM exchanged for 0.00000925 BTC/TLM (about $0.57 per TLM; total $)
Transaction fees ($): $1.40
The beauty of all this is that the transaction fees on the Binance Smart Chain is minimal - I was able to send the TLM to Metamask and then from Metamask to Binance for a grand total of $1.40 which would have been much higher on ETH network.
Net return ($): $14.60 (not accounting for the fact that I can still sell my tools that I bought and get some money back. But I'll most likely keep these to keep mining TLM and NFTs)
What I didn't anticipate was the minimum transfer out from the game to Metamask to be set at 100 TLM which I was unable to accomplish without sacrificing all my sleep plus the game glitched the night before which made claiming TLM impossible (probably due to overwhelming traffic). This meant that I could not get out at a higher price before the dump. A lot of people also got stuck transferring TLM to Metamask which may have been a congestion issue.
Passive income strategy: The price got me thinking. The game is free to play. The current equipment will get me about 1.5 TLM per 30 minutes. So if I am awake for 12 hours per day, my passive income could be $6,570 per year / $550 per month (if the price stabilised at $0.50) if I never missed a single click. Which would be above minimum wage in some countries.
Although I didn't theoretically make thousands of dollars for all the clicking I've been doing for the past few days, I have learnt a lot from the whole process including installing Metamask, setting up Binance Smart Chain, doing research which in this case meant playing the game, joining the Discord group etc because this made me understand what was a realistic value for the listing and what exit I should set.
Doing my own research means I know when to hodl and when to fold. I quite enjoyed this experiment I've embarked on and hey all spare tokens have now been converted to BTC which is currently at an all time high.
Hope you enjoyed this write up and until then, keep stacking.
Until then, keep stacking.