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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-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.
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.
Last modified 1yr ago