Details About Pegaxy Tokenomics

October 11, 2021 - Around 3 mins mins to read

As the name says, Pegaxy, Pegasus galaxy, is a play-to-earn platform for enjoying thrilling Pega racing followed by a futuristic mythological mode. Pegaxy is a unique and exciting NFT based game built on a dual economic model, providing the user with two kinds of native tokens, Governance Token (PGX) and Utility Token (VIS).

Governance Token- PGX

PGX– alias Pegaxy Stone is an ERC-20 token built on Polygon (formerly known as Matic) layer 2, a scaling solution for the Ethereum platform that facilitates fast, secure, and cheaper transactions on the network.

PGX is developed as a governance token with a total supply of 1 Billion tokens; however, there will be only a few ways to earn this token at the beginning, like live staking or occasional events. But will eventually increase with the community growth and the launch of the treasury community.

Within Pegaxy Metaverse, there are multiple use cases of PGX, like:

Paying the Breeding Fee.
Staking the tokens.
Purchasing the NFTs like food, gear, or Pega.
Participating in large-scale tournaments or events.

Apart from that, the user must pay the PGX fee involving breeding and a 3% fee of the marketplace transaction.

PGX Allocation

There is a 1 Billion supply of PGX, which is allocated perfectly among the team, ecosystem, marketing, and private sale.

Ecosystem Reserve and Marketing: 30%- 300 million and will be released according to the requirement.

Team: 22%- 220 million, locked for 12 months but released linearly within 12 months.

Community Development Incentive: 16%- 160 million throughout the 24-month linear release.

Liquidity Provision: 10%-100 million released when there is demand.

#1 Private Sale: 10%-100 million, 10% at launch with a 3-month lock-in and then linear release within 12 months.

#2 Private Sale: 10%- 100 million. 10% at launch followed by a 3-month lock-in and then 12-months linear release.

IDO/IEO: 2%- 20 million, 50% of which will be released and distributed within 5 months.

Utility Token- VIS

VIS, otherwise known as Vigorous, is an ERC-20 Utility token of Pegaxy built on Polygon layer 2 Blockchain. As the name suggests, utility token VIS is the in-game currency created by the players and for the players. The primary goal of VIS is to earn and spend, and other primary in-game use cases are as follows:

Racing

The user can mint VIS by earning the top 3 positions among the other 11 opponents in the race; however, the reward depends on the class of Pega you used in the race and its position. Moreover, because of the varying in-game economy, the amount of rewarded VIS may fluctuate as well.

Breeding

Breeding is considered the backbone of the Pegaxy ecosystem. VIS is used for breeding Pega to produce a baby Pega and the amount of VIS required depends on the breed count. Furthermore, just as in racing, the VIS amount may vary in breeding with the game’s economic changes.

VIS is minted through the players via racing and destroyed at the same time via breeding to maintain a reasonable economic balance of the game and avoid any mismanagement in the ecosystem.

Find more information about Pegaxy

Website: https://pegaxy.io/

Whitepaper: https://whitepaper.pegaxy.io/

Twitter: https://twitter.com/PegaxyOfficial

If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.

VinceH

CoinCu Ventures

Knowledge, GameFi, IDO Events

Details About Pegaxy Tokenomics

Governance Token- PGX

Within Pegaxy Metaverse, there are multiple use cases of PGX, like:

Paying the Breeding Fee.
Staking the tokens.
Purchasing the NFTs like food, gear, or Pega.
Participating in large-scale tournaments or events.

Apart from that, the user must pay the PGX fee involving breeding and a 3% fee of the marketplace transaction.