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Brief of Tokenomics
Trio-cryptocurrency is employed. Not issuing for the issuing sakes, this trio model balanced the function in a meticulous fashion.
The $IDVT is the top layer, it is a studio-wide governance token. For each GameFi project under Ideaverse Game Studio though, there will be at least two additional in-game cryptocurrencies, and for instance in HOTA:
Diamond ($DIAM) | Currency of circulation |
Fiery Ember Crystal ($FEC) | Game rewards |
Just like most conventional games, “diamond” of a sort is an in-game currency, sometimes being referred to “dias” by gamers, “diamond” very often is the direct result of top-up in games. $DIAM is the fancy version of “diamond” in HOTA.
$DIAM is a pure in-game currency, cryptocurrency.
It is not on the blockchain nor circulates outside the game, the price is always stable. The revenues from $DIAM have several uses. Buyback is a major part of it (please refer to here). Besides, OPEX, marketing expenses, R&D and profit sharing for stakeholders would take up the rest.
$FEC is a fungible token, acts as a reward in the game, in another word, the P2E cryptocurrency. Unlike $DIAM, $FEC does circulate, but investors won’t find it associated with any IXO, instead, it is only obtainable through in-game activities. $FEC is a play-reward token to its letter.
$FEC has a complete mining model and buyback mechanism, which ensures the balance between production and consumption. IDV will mint a maximum of one hundred million units of $FEC token on-demand, which is equivalent to 1.25% of the eight billion total $FEC quantity, and will list on the DEX as a cryptocurrency trading pair FEC/BNB, looking to provide liquidity.
Last modified 1yr ago