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Verse Token ($VRS)
The legal tender and mode of exchange inside the city.
IntoTheVerse platform works on a dual token economy. While capitalizing on the advances in the blockchain, NFT, and DeFi ecosystems, our game, aims to operate using two tokens, covering the liquidity, play2earn rewards, platform, and governance aspects of Verse.
The main token of IntoTheVerse is called the $VRS token (abbreviated as Verse), and will be a fixed supply token, with an initial mint supply of 8,000,000,000 without any discretion to vary its supply.
$VRS is the project token in which a public sale will be held. It is the game transaction token, which will be buy NFTs for the metaverse, participate in arenas, and for staking, and exchange for Celo Native Assets.
Users would be able to stake UBE LP tokens to earn rewards in $VRS tokens, in our 'Ubeswap' banks.
$VRS stakers will be receiving daily rewards based on in-game activity, earning $DGN, which they can sell on the market, or use for use to breed new warriors, unlock newer dungeons and purchase marketplace items.
Note: Rewards will be based on a locked time period, the higher times yield higher reward rates.
$VRS staking will also empower stakes with an additional future utility, such as:
- Voting power in the DAO and newer proposals.
- Special access to staker-exclusive metaverse avenues, real-estate ownership, exclusive giveaways, dungeons, and rare-warriors.
- Ecosystem Partner drops and releases.
Besides buying $VRS on market after the token launch in 2021, players would also be able to earn $VRS rewards through LP token staking on Ubeswap. (wait for the official announcements in Q2, 2022)
Note: LP staking on Ubeswap, will not be subject to a token lock-up but, on the other hand staking $VRS will be a locked form of staking for fixed reward rates, proportional to the amount of time, the tokens would be locked for.
The LP rewards will be split among all LPs, proportional to their share of the liquidity pool tokens deposited.
$VRS price factors:
As the fixed-supply token governing the platform, we expect the value of $VRS to increase as IntoTheVerse ecosystem expands.
A portion of the fixed-supply of $VRS tokens will be unlocked, with the rest steadily trickling out from LP rewards and Vesting contracts over four years. This will naturally create some inflationary price pressure, depending on how demand grows with the growing liquid token supply.
The $VRS token would bring in-game utility with it, and also allow earning $DGN through rewards. Because of this, we expect less sell pressure on the $VRS tokens as they’re released, thus providing considerable value to the players and to anyone bullish on our ecosystem.
Note: Further information, on rewards and token plan would be shared in due course of time before the token launch in Q2-2022.