The Subplay chain has been officially launched. We posted the development plan of Subplay in this blog. The development plan is for the early holders. It does not provide a detailed understanding of the whole project. This introduction is for those who did not participate in the initial release of PLAY but are interested in this project. If you want to get a general idea of this project, you can only read the blue summary contents below. If you want to learn more about this project, please spend more time reading the full article. If you have any questions about the project, you can join our telegram group
Subplay was initiated by AP, an anonymous developer in the cryptocurrency community. It is an open, fair and transparent blockchain project based on Substrate (Polkadot Ecosystem). The token name is called PLAY, with an initial supply of 1.3 billion. The initial total market value (the sum of all initial investors’ investments) is about 1 to 2 million RMB with 200 initial investors.
This project does not have traditional project party. The token holders voted to approve the development plan and set up a fund for project development. At the beginning this project will not set up a long-term plan, so we can find the most suitable development direction for the project through rapid and low-cost experiments. In addition, as the initiator, AP may also join to deploy an innovative application once the infrastructure of the project is complete. AP has made the free airdrop on Ethereum, EOS CPU mining and other highly creative applications. Therefore, the Subplay chain might carry that application could have a huge potential.
Even without the joining of AP, Subplay still has a big potential due to its uniqueness and ultra-low starting point. At the same time, because of its uniqueness and ultra-low starting point, it also has certain risks, so it is a high-risk and high-return project. We believe that at least in the initial stage, the mathematically expected return on investment of this project is positive, and may be much greater than the other mainstream projects. So we sincerely and humbly believe that this is a project worth investing in lightly.
At present, Subplay is in the PoA (proof of authority) stage, which can be treated as the trial operation stage. During this period, there are only a few verification nodes, so the chain is not 100% stable and decentralized. Therefore, we do not provide trading until the chain moves to the Proof of Stake stage. Then we will try to list Subplay on several exchanges, and provide other ways for trading.
Subplay was initiated by an anonymous developer Aiden Pearce (AP). At that time, he was active in an EOSIO chain called YAS. The development of YAS faced some problems. For example, although some super nodes took node revenue every day, they did not produce blocks normally, which affected the health of the network. The EOSIO system does not penalize such non-performing nodes, whereas chains such as Polkadot based on the Substrate system penalize these non-performing validators (the equivalent of EOSIO’s supernodes), as well as the nominees who vote for them, thus keeping the entire network healthy. In addition to this feature, Substrate has a number of impressive advantages that I will not cover here. AP thinks highly of Substrate because of those advantages. Therefore, he created a token called PLAY(with the total number of 1 billion) in YAS to launch a Substrate chain later. In the initial plan, both the chain name and the token name were the same, called PLAY. However, in order to do better promotion, the chain name changed to Subplay after the community plan voting, and the token was still named PLAY. For details, please refer to Figure 1-5 attached at the end of the paper.
The distribution of PLAY is innovative, with AP developing a community-owned DEX system in YAS called CODEX (community owned DEX). It can be simply considered the same as Uniswap. There is a PLAY/CPM trading pair set up in this system (CPM is another token issued in YAS). 1 billion PLAY is set to transfer 10,000 PLAY to this trade pair every half minute for CPM purchase, and then the purchased CPM is automatically destroyed. Users who want to buy PLAY can switch any tokens they hold to the CODEX. If the token is CPM, then the PLAY is purchased directly with the CPM in the PLAY/CPM trade pair. If the token is not CPM, it will automatically switch the token to CPM first, then use the CPM to buy PLAY. The whole distribution process is like a constant reverse auction. If no one buys PLAY in a long time, the price of PLAY will continually fall. The smart contracts will automatically sell PLAY until someone buys PLAY. Then the price will rise. This process will continuously circulate until the 1 billion tokens are completely delivered. The whole process lasted about 35 days, everything was transparent and fair. Everyone needed to spend real money to get the PLAY, so there was no traditional project party for this project. Why we chose this method to do the token distribution is mainly because many holders complained about previous projects such as YAS. AP participated but the price of the token continually dropped. Therefore AP issued PLAY with no responsponsible owners. He just proposed to launch this project, but he has no responsibility for this project. Anyone is free to choose whether to buy PLAY or not. No one has reason to complain about him. Of course, he could also choose to develop on the chain which proposed by himself.
In the original plan, this chain would be launched by AP, and he did launch the test chain several times for testing, but he did not launch the formal living formal chain for a while. There is a lot more work to launch a formal chain than a test chain. It takes a lot of time and effort just to do it alone. So in order to launch the project as soon as possible, I helped to drive the project process, the details refer to the Start-up Plan, and finally there are about 200 accounts involved in the mapping, Click here to view. (Since each mapping costs 10,000 PLAY, there should be no account scamming, i.e., Subplay had about 200 real users at the beginning). Later all holders decided to vote to perform Development Plan, the main content of this paper is about to issue additional tokens which are used for the project development and the contributors’ reward. The final total amount of PLAY is set to be 1.3 billion.
Perhaps not many people in the cryptocurrency community know AP. However, most people may know the free Ethereum airdrops in 2018 and EOS CPU mining in 2019. Both of them have caused quite a stir in the cryptocurrency community. From these two ways of issuing coins, it can be seen that AP at least has good technical capability and strong creativity. He has also made a lot of significant achievements, but not known to many people. For example, he made CODEX on YAS, which has a similar function as Uniswap. Some people accused him that CODEX was a copy of Uniswap. However, in fact, during the ENU period(around 2018), he developed the ENU/BTC trading pair using the AMM technology that Uniswap relied on. And Uniswap was not launched at the time, so there is no way he copied Uniswap. Another UBI project, recommended by Vitalik, which was popular for a while last year. I have a general understanding of it. In fact, the basic idea is the same as a scheme designed by AP when he wanted to engage in UBI in ENU. Both are based on the trust chain to determine whether an account in the network corresponds to the real and unique person in reality. It is possible to say that the UBI project was borrowed from AP’s original idea.
None of these projects was successful in the generic sense (that is, prices rise sharply, making early investors earn a lot). In my opinion, there are many reasons. One reason is that AP is only one person, his time and energy is limited. If he develops the core aspects of a project, he needs more people to join to develop and promote therefore to make that project successful. If ENU’s whales could take a long-term view and realize the significance of AP’s AMM on ENU, help him do some auxiliary development and promotion, rather than pump and dump. ENU may now be something like Uniswap. Another reason is that AP may already be successful in real life, so he does not want to lower himself profile and cater to others meticulously. For example, if he had been willing to persuade Vitalik to give a “like” to his UBI project, the latter borrowed UBI project may not be famous.
All of this indicates that AP is a technically capable, creative developer. It does not mean that he will definitely develop on Subplay in the future, because he is not the project owner of Subplay and not responsible for the project. But we think there is a high probability that he will develop it, because he is the initiator. At the same time, he likes the Substrate and Polkadot Ecosystem. He also revealed that he had a large project under development, but he was not willing to disclose the details of the project at present. He was not sure which platform the project would be launched (please refer to Figure 6-8). But I think if Subplay does well, he is willing to deploy the project on it. (You may think AP is bragging or fooling me, but from my long-term working experience with him, although he sometimes changes his plans based on actual circumstances, he has never made any false claims or false promises, so this project should be real. For example, He told me he was going to start a new kind of fair coin issuance, and soon after he launched the EOS CPU mining.)
At beginning, there will be no white paper for Subplay and project planning. With no traditional project owners and low initial market cap, we do not have enough money to recruit a large number of full-time developers. We don’t want to promote the holders with unrealistic thoughts, but in the end, can’t meet their expectations. So our current plan is to improve Subplay’s infrastructure first and then attract as many users as possible to join the project. If later AP is willing to join the development team and deploy the large project mentioned earlier, then we can set our future plans based on that project. If AP is not in, we will deal with it on a case-by-case basis. For example, we will actively contact Substrate’s relevant developers and cooperate with them to deploy applications that may be popular in the future. From this point of view, without white paper may be better than with it. We don’t have to go all the way to the end, we can quickly and cheaply try and change, therefore to find the way that is suitable for project development. If the project grows bigger, more developers will be attracted to join in. At that time, we can make a white paper,long term plan, and then have evolution like other big formal projects.
Many people may wonder how Subplay can compete with other big projects in the polkadot ecosystem with such a low market value? We believe that the Polkadot Ecosystem is one whole group. Different projects can interact with each other through the Polkadot chain and jointly promote the development of Polkadot Ecosystem. Therefore, the benefits of interaction are larger than the downsides of competition. Subplay is a humble project, we will try to cooperate with large projects to get the win-win situations. For example, when Subplay is not enough to buy Polkadot slots, we can use other cross-chain technologies to transfer PLAY to Polkadot parallel chains that have acquired the slots, so that PLAY can be traded in Polkadot Ecosystem before it becomes Polkadot parallel chain. Just as a small toothpick bird can cooperate with a large hippopotamus, both sides benefit from the cooperation.
Second, the super low initial market cap makes Subplay with huge upside potential. For example, it is hard to see the stock price of Microsoft increases significantly. A 20% gain in a year would be unusual. On the contrary, if we deployed some useful apps on Subplay successfully and increased the number of users, investors may have made several or even ten times profits. Although at that time, Subplay may still be a small project with a 10 million market cap and is not comparable with other large projects. As mentioned earlier, there is a high probability that an AP will deploy a large app on Subplay. In that case, I think it should be easy to surpass the 10 million total market cap. Even though ENU and YAS, which AP participated in the development before, were not successful in a generic sense, YAS still had a total market value of 30 million and ENU had a total market value of 300 million.
However, both ENU and YAS are based on the same system of EOS. A major reason for the failure of these two projects is the irresponsibility of the EOS project owner, who launched a project not maintained, not seriously treating the project after making money. For example, IBC (Inter Blockchain Communication), which they promised before, has not been launched yet. Therefore, EOS looks more dead than alive at present. It is hard to be successful for ENU and YAS which need to utilize EOS resources. On the contrary, Polkadot officials are working very hard to develop and promote the Polkadot Ecosystem, so the possibility of Polkadot’s success is much higher than that of EOS. The probability of the success of the project will be greatly improved if AP deploys its project on Subplay. As a result, Subplay’s market value might be much higher than that of YAS or even ENU. If AP does not choose Subplay, there are other ways to make the project develop. If Polkadot can achieve its vision of implementing Web 3.0, then Subplay, as one of the early chains is Polkadot Ecosystem, has a great chance of getting a slice of the action as Polkadot Ecosystem grows.
Of course, all the above are only inferences of some possibilities, which does not mean that Subplay will definitely succeed and earn money. What we can guarantee is that this project is fair, open, and transparent. We want to do this project well through long-term efforts to generate real value, and then let the holders make money reasonably. It is not like many altcoins rely on short-term false promises, false publicity, and then pump and dump. So if you buy PLAY, we can’t guarantee that you will make profit, but you certainly won’t feel being cheated as you do with other altcoins.
In conclusion, Subplay has great potential. It is not a fake project to cheat money but still with certain risks. But overall, we believe it is a project with positive expected returns higher than the current mainstream cryptocurrencies at the beginning stage. So if you’re a risk averse investor, you can invest in PLAY lightly. Just like you’re buying a lottery ticket with a hundredfold or even a thousandfold increase in the winning rate. If you are a risk-loving investor, we also recommend that you invest with spare money without leverage, and only buy PLAY with less than half of your money, the other half of the money in mainstream cryptocurrencies that may have lower return but less risk.
At present, Subplay is in the PoA (proof of authority) stage, which can be treated as the trial operation stage. During this period, there are few verification nodes, so the chain is not 100% stable and decentralized. Therefore, we do not provide trading until the chain moves to the Proof of Stake stage. After the chain is transferred to the PoS stage, we will set up an OTC trading group with guarantor to conduct deals. At the same time, we will also provide another way to trade PLAY anonymously. In the future, we will also strive to trade in the Polkadot Ecosystem, and launch as many mainstream exchanges as possible.
Currently we use subplay.xyz as the domain name for the project blog, browser, and WSS interface. But we also have more formal domain names like subplay.org or subplay.io, which are temporarily unavailable for some reason. We will change the domain names to the formal one in 1 month.