The Polyient Video games Founders Key, or PGFK, token sale starts Sep. 15, with a strictly restricted 12,000 of the tokens up for grabs. This follows an August pre-sale all through which the corporate offered an preliminary 500 tokens.
Each and every PGFK might be a non-fungible token, or NFT, with a twist. The usage of a sensible contract referred to as the “Particle Bridge”, holders can convert the PGFK into 1,000 fungible debris (XPGP). Those debris would be the application token for the Polyient ecosystem.
The corresponding PGFK is burnt without end, even supposing a brand new one can also be minted via sending 1,000 XPGP again during the sensible contract within the different route.
All PGFK aren’t the similar alternatively, and tokens re-minted on this manner will not cling a coveted “technology 0” standing. Long run rewards for holders is also explicit to the technology of token held.
In some ways this makes the PGFK extra of a collectible than a buying and selling token, and is simply probably the most ways in which Polyient is gamifying participation in its ecosystem.
There’ll simplest ever be a most of 20,000 PGFK tokens. The remainder 7,500 are being reserved via Polyient, even supposing a few of these might be to begin with transformed into debris to offer liquidity for the application token.
PGFK holders will obtain rewards, comparable to early get admission to to video games within the ecosystem, loot containers and airdrops, and early get admission to and rate discounts at the Polyient market. As Cointelegraph reported, the marketplace will characteristic a decentralized alternate (DEX) for NFTs, powered via the Avalanche blockchain.
One of the most first airdrops might be for the Polyient Video games governance token, or PGT. Those might be issued one-to-one with every PGFK and can function the balloting mechanism at the back of the PG DAO.
In the end, the ecosystem will lengthen to incorporate decentralized finance, or DeFi, taste lockups, and third-party programs constructed on best of the belongings.
When requested what differentiated Polyient from the flood of alternative fresh DeFi suppliers, Polyient Labs’ Director of Innovation Craig Russo instructed Cointelegraph:
“We’ve taken the time to construct out the ecosystem with a variety of use fashions, together with a gamified DeFi enjoy. This will likely facilitate person selection that can in the end create an ever converting enjoy, coupled with the enticing provide dynamics of our dual-state token.”
With the percentage of tokens repeatedly in flux in the future between a most of 20,000 PGFK and a most of 20 million XPGP, it undoubtedly brings a notable twist to token economics.