How to Play

Overview

The SHILLcoin HODLcoin Interconnected Token Ecosystem, or SHITE for short, is a game built on the Ethereum blockchain in which players trade SHILL and HODL, which are two ERC20-compatible tokens. The game revolves around buying, selling, trading, and managing these tokens.

SHITE can be compared to a two-currency system, in which each currency has a variable “tax rate” which is charged on each transaction with that currency. Much of the novelty of the game is due to the fact that “taxes” from one token are paid to holders of the other token. For example, this means if you currently own 10% of all HODL, you get 10% of all fees paid by anyone using SHILL.

The tokens also fluctuate in value over time, and the players collectively control each token’s current transaction fee rate. More details on game mechanics are available in the FAQ or the White Paper. Please be aware that while it is possible to make money playing the game, it is equally possible to lose money. Do not play with more than you feel comfortable risking.

HODL and SHILL are each produced by a “smart contract” that constantly offers to sell new tokens for Ether, as well as buy back old tokens. These open source smart contracts store all Ether put into SHITE, and make it work in a fair and transparent way.

Buying Tokens

SHILL and HODL are both available for purchase at any time from the smart contracts. Players can purchase tokens through a free, public interface available at the Play Page.

This interface requires users to have a Web3-enabled wallet like MetaMask. Once a user visits the page, they can follow these steps to buy SHILL or HODL:

  1. Select your token of choice by clicking on the “Choose Your Token” toggle button at the top of the page.

  2. Click the “BUY” button under the “Choose Your Action” header.

  3. Enter the amount of Ether you would like to spend. At this point, the interface will automatically query the smart contract to ask how many tokens your Ether will buy, and will display this number below the entry box.

  4. Click on the "Buy SHILLcoins" / "Buy HODLcoins" button.

  5. Confirm the transaction in your Ethereum wallet.

  6. Once the transaction confirms, the SHILL or HODL tokens are in your wallet. This should be reflected on the “Contract Info” section of the page. If it doesn't update automatically, try reloading the page.

If players do not wish use the UI, they can purchase SHILL or HODL by simply sending Ether directly to the smart contracts.

NOTE: if you do this, you should manually set the gas limit of your transaction to ~ 150000 or higher, as otherwise the transaction may revert due to an out of gas error.

The SHILLcoin contract has Ethereum address 0xf47dfA415b9447B40f562Ae5D8C0A01683d5509D

The HODLcoin contract has Ethereum address 0x370CA03717C72e5eEE6F8be267995A91Cf5C0904

Earning Rewards

If you own SHILL and/or HODL you're already earning rewards automatically.

If you've accumulated some rewards and you'd like to spend them, read below.

Viewing & Spending Rewards

To view the current value of your rewards and spend them, head over to the Play Page, then:

  1. Select your token of choice by clicking on the “Choose Your Token” toggle button at the top of the page.

  2. Click the "SPEND REWARDS" button under the “Choose Your Action” header.

  3. Click on the "Double Down" button to spend your rewards on more tokens, or the "Cash Out" button to have the Ether value of your rewards sent straight to your wallet.

  4. Confirm the transaction in your Ethereum wallet. Once the transaction confirms, the website and your wallet should both update automatically.

Tracking & Transferring Tokens With MetaMask

SHILL and HODL can be added to MetaMask by going to the following links and clicking “WATCH IN WALLET”:

To add SHILLcoin to MetaMask click here.

To add HODLcoin to MetaMask click here.

Once added to MetaMask, you should be able to see your SHILL and HODL balances directly in your wallet. MetaMask also makes transferring your tokens easy. Simply click on the token of your choice (either SHILL or HODL) in Metamask, click send, enter the recipient address and the amount, click next, and confirm the transaction.

Transferring tokens is also available on the Play Page.

Exchanging SHILL <--> HODL

To exchange SHILL directly for HODL or vice versa,head over to the Play Page, then:

  1. Select the token you would like to exchange from by clicking on the “Choose Your Token” toggle button at the top of the page.

  2. Click the "EXCHANGE" button under the “Choose Your Action” header.

  3. Enter the amount of SHILL or HODL you would like to exchange. The site should update automatically to inform you how many of the other token you will receive, should you follow through on the exchange.

  4. Click on the "Exchange SHILLcoins" / "Exchange HODLcoins" button.

  5. Confirm the transaction in your Ethereum wallet. Once the transaction confirms, the website and your wallet should both update automatically.

Game Strategy

Exploiting Fluctuating Token Value

For each SHILL token that exists, the market price of SHILL is slightly higher. This means that if you currently own SHILL and other players buy SHILL, the value of your existing SHILL tokens increases. If you subsequently sell your SHILL, you can realize gains. However, by selling your tokens now you miss out on any future rewards or gains, but you protect yourself from decreases in the token price.

Players pursuing this strategy will try to predict when other players will buy or sell SHILL or HODL. If their prediction is correct, they can simply “buy low and sell high.” Those using this strategy may also wish to Exchange directly between SHILL/HODL, as they attempt to predict swings in popularity of the two tokens.

Maximizing Rewards

Since rewards are earned when players use the other token, you will get more rewards if you own the “less popular” token. Rewards can also be spent to Double Down, earning more tokens. If a player repeatedly doubles down, they will effectively compound their rewards, similar to compounding interest on a savings account. Assuming the total amount of Ether in the system remains relatively constant, repeatedly doubling down will increase your share of tokens, and thus the share of rewards that you earn.

Predicting Players' Actions

Successful players of SHITE will, in general, accurately predict the actions of other players and try to exploit these predictions. Assuming other players are fairly rational, here are a few rules for predicting how they will act:

  1. All else being equal, players are most likely to buy or sell the token with lower fees. This means if SHILL and HODL both currently have similar market prices but HODL has lower fees, you are more likely to see a higher rate of transactions using HODL.

  2. If one token is significantly less expensive than the other, it is reasonable to predict that players will buy the cheaper token. For example, if 1ETH will buy 4000 SHILL but only 3000 HODL, it is more likely to see players buying SHILL.

  3. People often follow others. If you perceive a trend, others may as well. It is often likely that a herd mentality forms. Sometimes you can benefit most from “following” the herd, other times by going against it.

Controlling Other Players' Actions

As mentioned above, players are expected to transact more when fees are low. However, for a given amount of transactions, rewards are highest when fees are high. Players can modify the rate at which fees are charged by spending their rewards (more on this in the FAQ) to try to control the behavior of other players. For example, if you are trying to maximize your rewards you may try to strike a middle ground, where the fees are not too high to discourage transactions, but high enough for you to earn a significant amount of rewards. On the other hand, if you are simply trying to speculate on the value of SHILL/HODL, you may wish to modify the fees charged by one token to make it more or less appealing to potential buyers.