🔥FTW Token
For the Win Token (FTW) is an ERC-20 utility and governance token used within the Win ecosystem to enable game developers to develop blockchain-powered play-to-earn games. Its primary goal is to drive the Platform's adoption and empower a community of creators looking to build at the forefront of Web3. The $FTW token provides access to certain parts of the Platform that are otherwise unavailable to Players, such as exclusive games, in-app events, and services. The FTW token uses Polygon as an L2 scaling solution.
The Win platform uses two token standards for its economy:
ERC-20 token as the platform's native currency - $FTW (For the Win).
ERC721 as a non-fungible token for the platform's Collectibles.
The total supply of $FTW tokens has been fixed at 1,000,000,000 tokens.
Economy Benchmarks
Economy-wise, the closest sibling to the $FTW token is the Axie Infinity Shard (AXS), as both tokens are used as a governance token with a moderate buyback program and play to earn incentives. It is essential to point out some crucial differences in this regard.
Axie Infinity contributes 4.25% of all its marketplace transactions go back to the treasury and the entire breeding fee (4 $AXS as of the time of writing). $FTW intends to contribute a more significant amount - 10% - to the more sound economic buyback and liquidity provision mechanism.
Axie Infinity's staking does not enhance player status or affect gameplay; it's purely for farming purposes. The Win Platform signals an elevated user status via the Hero, and the users can invest directly in their level, not just their wallet size.
Players have different incentives awarded via the treasury, such as providing liquidity and reaching a certain level, while Axie rewards pure token staking and governance rewards are still unclear. Both, however, have play-to-earn incentives for tournament achievements.
Economy Implications
The token lock approach’s beauty is the inverse correlation between the project’s success and the number of tokens locked, essentially creating a self-regulating mechanism for the total number of tokens in circulation.
If the project performs well, the token price would appreciate naturally, which means that a fixed amount of FIAT revenue (1MM, for example) would buy fewer tokens (as their price would be higher). If we assume a token price of 10 USD (purely as an example), this will net 100k tokens, 10% of which would be added as liquidity and then locked.
If the project performs worse, the token price would be lower, and a fixed amount of FIAT revenue (100k, for example) would buy more tokens. If we assume a token price of 0.1 USD, this will net 1MM tokens, 10% of which would be locked.
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