The Polyient Video games Founders Key, or PGFK, token sale begins Sep. 15, with a strictly restricted 12,000 of the tokens up for grabs. This follo
The Polyient Video games Founders Key, or PGFK, token sale begins Sep. 15, with a strictly restricted 12,000 of the tokens up for grabs. This follows an August pre-sale throughout which the corporate offered an preliminary 500 tokens.
Every PGFK might be a non-fungible token, or NFT, with a twist. Utilizing a wise contract known as the “Particle Bridge”, holders can convert the PGFK into 1,000 fungible particles (XPGP). These particles would be the utility token for the Polyient ecosystem.
The corresponding PGFK is burnt perpetually, though a brand new one might be minted by sending 1,000 XPGP again by the sensible contract within the different route.
All PGFK usually are not the identical nonetheless, and tokens re-minted on this manner will not maintain a coveted “era zero” standing. Future rewards for holders could also be particular to the era of token held.
In some ways this makes the PGFK extra of a collectible than a buying and selling token, and is simply one of many ways in which Polyient is gamifying participation in its ecosystem.
There’ll solely ever be a most of 20,000 PGFK tokens. The remaining 7,500 are being reserved by Polyient, though a few of these might be initially transformed into particles to supply liquidity for the utility token.
PGFK holders will obtain rewards, reminiscent of early entry to video games within the ecosystem, loot packing containers and airdrops, and early entry and payment reductions on the Polyient market. As Cointelegraph reported, {the marketplace} will function a decentralized trade (DEX) for NFTs, powered by the Avalanche blockchain.
One of many first airdrops might be for the Polyient Video games governance token, or PGT. These might be issued one-to-one with every PGFK and can function the voting mechanism behind the PG DAO.
In the end, the ecosystem will prolong to incorporate decentralized finance, or DeFi, model lockups, and third-party functions constructed on prime of the belongings.
When requested what differentiated Polyient from the flood of different latest DeFi suppliers, Polyient Labs’ Director of Innovation Craig Russo informed Cointelegraph:
“We’ve taken the time to construct out the ecosystem with a variety of use fashions, together with a gamified DeFi expertise. It will facilitate person alternative that may in the end create an ever altering expertise, coupled with the participating provide dynamics of our dual-state token.”
With the proportion of tokens continually in flux sooner or later between a most of 20,000 PGFK and a most of 20 million XPGP, it actually brings a notable twist to token economics.