PLAY Token
What is PLAY token?
PLAY token is a governance token of the PLAY Finance. It will also capture the economic benefits of the protocol. There will be a maximum of 100,000,000 PLAY token.
What is the PLAY token used for?
PLAY-To-Earn
The PLAY-to-Earn is the latest development in the games industry. It’s a new game business model that embraces the concept of an open economy and provides financial benefits to all PLAYers who add value by contributing to the PLAYer game world. It’s likely to introduce new game concepts and retention models not yet seen in modern gaming.
PLAY JACKPOT is designed to increase prizes and win odds as the number of rounds and TVL increases. Also, as the cumulative prize increases, the price of $PLAY will also increase with PLAY To The Moon. Just imagine! As time goes on, the prize will become more attractive to more people.
$PLAY token will be used for participation fee in various games similar with PLAY JACKPOT and PLAY SNAKE.
PLAY JACKPOT: 1 $PLAY withdraw fee
PLAY SNAKE: 1 $PLAY prize claim fee
Deflationary Price Increase with PLAY To The Moon Fund
PLAY tokens are long-term deflationary. Emissions have a hardcap and are continuing to decrease, while repurchase is permanent by PLAY To The Moon Fund and continuing to increase. So as PLAY Finance continues growing, more $PLAY will be repurchased, leading to the value of each remaining PLAY token rising continuously and permanently.
What is PLAY To The Moon Fund?
In PLAY JACKPOT, as the prize pool is accumulated with PLAY only, we still have a vault with actually interest payments. PLAY Finance will buy “PLAY” token from DEX so that price of our governance token can be supported continuously. This pool can be powerful when we have a prize winner who got huge amount of PLAY payment. With this actually vault that has famous crypto assest, we can support the price even when there are huge payout of PLAY. * This vault is blocked to send assets to individual wallet. PLAY Finance can only buy or sell related assets from DEX to manage the price of PLAY token. ** We can support the price of PLAY since we accumulated prize pool corresponding to the actually amount of interest in this vault.
Protocol Governance
We will soon launch a governance vault that will allow community members to stake their PLAY tokens; stakers will receive xPLAY where 1 xPLAY = 1 vote, allowing them to decide on key governance decisions.
PLAYnomics
Fair Launch Token Distribution
80% of our total supply will be distributed to the users of the protocol--a genuine fair launch, with less than 15% of the tokens vesting to the team over a two-year period. Over these two years, PLAY will be released with a decaying emissions schedule. In total, there will be 100 million PLAY.
Development Fund
15% of the distributed tokens will go towards funding development and expanding the team, and will be subject to the same two-year vesting as the tokens from the Fair Launch Distribution.
Warchest
There is an allocation of 5 million tokens reserved for future strategic expenses. These include listing fees, audits, third-party services, liquidity for partnerships, etc. 300 of these tokens were used to seed PancakeSwap's PLAY-wBNB pool.
Last updated
Was this helpful?