Augury Finance — Go Forward

Dear Augury Family:

Many of you have seen or heard about our latest project, Eternity. There are those of you who have been left wondering, “What’s going to happen to $OMEN?”, “Can I still earn from $OMEN even if I don’t play games?”, “Will Eternity provide value to $OMEN?”

Today, we will unpack the above questions and discuss our go-forward strategy. First, a (not so) brief recap of Augury Finance:

When we originally envisioned Augury, we designed it so that it would become a product of products. To that end, I am incredibly proud of the work that our team has accomplished since we launched last summer.

Since launching Augury, we delivered a yield farm (which emitted the $OMEN token), an advanced vaulting system (Infusions), and a token which never goes down in value (Infinitum). We also stayed true to our original design approach where we offered weekly USDC payouts. To date, we have issued over $1.3MM in USDC to $OMEN stakeholders.

It’s important to understand that much of that 7-figure accomplishment was front-loaded in our platform, meaning that the bulk of the distributions/profit sharing happened in the early stages of Augury.

As time moved forward, the weekly USDC payouts got reduced, as the platform has not been generating as much capital as it originally generated during the early days of Augury. We feel like this is due to a variety of factors:

  1. We ended token emissions without a clear path forward for our products. By ending $OMEN emissions, we put ourselves in a position where investment capital fled Augury. Those that remained staked watched their $OMEN get dumped on the open market, as they witnessed our liquidity fall significantly.
  2. Infusions weren’t marketed well. For the amount of engineering that went into building our infusions, we failed to market the product in a way that would have attracted long-term stakeholders. At the time, we were also competing with a well-known vaulting platform that was offering better APRs vs what we could offer through our infusion product. These APRs were largely driven by the competitive product offering their token in addition to the vaulting rewards. Without having an $OMEN token, we could not effectively match or beat the APRs of the competitor’s platform even though we had a very strong product.
  3. Infinitum worked (and is still working) as designed. The difficult thing about Infinitum is that as more Infinitum enters the ecosystem, more capital is required in order to send the price up. As capital leaves the Infinitum mines, increasing the Infinitum token price becomes a time-intensive process. We did a small amount of marketing on Infinitum, but we did not spread enough awareness regarding the product.
  4. We did a poor job attracting partners with our new products. Partnerships are the lifeblood of any successful product (especially in the crypto space), and because we didn’t spend the appropriate amount of time both marketing and developing relationships with communities that could have utilized our existing products, we ended up being mostly reliant on our existing community. Unfortunately, it’s hard to get excited about a project that keeps losing value because its objectives were unclear and the marketing was non-existent. During our community AMAs, many of you challenged us to find better solutions. Several of you asked when we would start to build these relationships. You reminded us that at one point in time, we were once one of the top 5 platforms on Polygon.

Since these events, we’ve learned quite a bit and we have grown together. To that end, let’s talk about the burning questions that have come up recently.

Whats going to happen to $OMEN?

$OMEN is going to be used in our new game, Eternity. We have designed a custom character that requires meaningful amount of $OMEN in order to purchase. This character has quite a few great abilities, which will help you as you progress through Eternity. If you’re a person who’s not into gaming (and we’ll get to this in a bit), you may consider using your $OMEN to purchase an Augur NFT to keep or resell at a later point in time.

$OMEN will also be used in-game for certain cosmetic items as well as consumables (potions and scrolls) that can help you as you quest in Eternity.

Additionally, per the feedback that we received from many of you, we will be consolidating our $OMEN LPs.

Over the next couple of weeks, we will be shifting all of our Community Wallet owned liquidity to one pair so that the $OMEN liquidity is less fragmented. The goal of this is to provide a more robust experience for trading $OMEN.

Can I still earn from $OMEN even if I don’t play games?

Absolutely. Every product that we create helps to support $OMEN. Eternity is no different. Part of the profits that Eternity generates will go to the $OMEN Community Wallet. This ensures that lasting value is created with the $OMEN token. As Eternity grows, $OMEN holders will continue to reap the benefits of Eternity, even without playing Eternity.

We do, however, recommend that you give Eternity a try when it comes out (and participate in the Discord so that you can receive a spot on the whitelist). If you’re curious about the NFT space or blockchain gaming at all, Eternity is being designed in an approachable fashion so that everyone can play!

Will Eternity provide value to $OMEN?

(Have no fear: Infinitum also plays a role in Eternity’s ecosystem)

We think that Eternity will provide value to $OMEN. To recap:

  1. The $OMEN community wallet will receive some of the profits that Eternity generates
  2. $OMEN can be used in conjunction with Eternity which adds new utility to the $OMEN token

As we have mentioned before, we want to build a long-term suite of products. Many of our competitors have abandoned their projects or have collapsed, but we still remain. We’re aiming to build one of the best gaming experiences on the market today.

We’ve taken all of our lessons learned and we have ramped up our staff in support of Eternity. We have also focused our efforts on organic marketing to grow Eternity and we have received great feedback from potential partners. We will have announcements related to this in the coming weeks.

We hope that you continue to support us as we move forward on our crypto journey.

Thank you

If you’ve read this far and you’re interested in learning more about Eternity, please visit these links:

Twitter: https://twitter.com/eternityrpg

Discord: http://discord.gg/WrRkdF8Wmu

YouTube: Eternity

Twitch: https://www.twitch.tv/eternityrp

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