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Contract is behind a proxy. A proxy contract is high risk as the contract can be upgraded and code can be swapped to include any new code including malicious code. Team claimed that the proxy is necessary given the complexity of their protocol which comprises 15 interacting contracts and they are concerned about the ability to patch bugs without a proxy.
This is a complex protocol that has been in development since May 2020 when they did their pre-sale for 400BNB. Clam Island is an immersive 3D game/yield farm with token and NFT elements.
The earning structure for Clam Island is fairly complex. There are two native tokens: GEM and SHELL. GEM is what you generally earn farming. SHELL is a governance token which you can earn by burning CLAM NFTs. You can use GEM, the in-game farmable inflation token, to get CLAM, a NFT that generates for you and can be used to cultivate PEARL, another individual NFT, which can be used to boost rewards by burning the PEARL. You can also go to the shop and use GEM to buy CLAM (burns the GEM) and harvest them for SHELL. You can also farm CLAM to get PEARL. Each CLAM has a limited lifespan and after it makes x amount of PEARLs it cant be used for PEARL or SHELL anymore. You also get rarer PEARLs if your CLAM is older, and you can harvest for more SHELL. There is a 7 day GEM harvest lock up which locks up 50% of your earned GEM.
Team is doxxed by Tachyon, the accelerator arm of ConsenSys. There is a YouTube video from their official channel where the team present Clam Island and the team members are identified by name and photo. ConsenSys mesh is committing to their seed round together with Protocol Labs.
*Paid Advertisement. Not financial advice. RugDoc is not responsible for the projects showcased here. DYOR and ape safu.
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Disclaimer: This is done with our best knowledge and effort, nothing can be known for certain – always DYOR and risk management. This is NOT financial advice. Use the information presented here to inform your own decisions. Referral links may be included on any outbound link.