With the seed sale for Genopet’s KI token full, and an airdrop quickly to these staking GENE tokens, it’s time to check out this sport token and see what it’s all about.
Genopets runs with two tokens, GENE, and KI. Whereas GENE may be staked and consists of future governance perks, KI is the first sport utility token. Genopets ran a seed sale for his or her KI token just some weeks in the past. They offered 20 million tokens utilizing a dynamic pricing mannequin. This mannequin causes the token worth to drop when nobody is shopping for, after which enhance when the shopping for exercise kicks in once more. The top results of the sale noticed KI tokens priced at simply over 10 cents (USD) every.
Along with this token sale, Genopets plans to airdrop a further 20 million KI to everybody who staked GENE tokens earlier than June 18th. This airdrop ought to start someday quickly and shall be a sluggish, regular trickle somewhat than an ordinary drop. Vested out over 90 days, stakers obtain KI tokens in proportion to their staking weight (calculated from the variety of tokens staked and the staking interval size).
And at last, Genopets created a base liquidity pool utilizing one other 20 million tokens, for a complete of 40 million tokens in circulation with one other 20 million dripping out over the following 90 days.
KI Tokenomics
The KI token has no fastened provide. Except for the preliminary tokens generated from the seed sale, liquidity pool, and airdrop, gamers create KI tokens in-game by changing Vitality from their every day walks. Gamers convert their Vitality to KI with Habitats. Gamers can select a ready interval when changing of as much as 14 days. That is form of like a vesting interval and permits the participant to earn a greater conversion rate. The conversion fee is fairly low general. At the most effective fee, 1 Vitality converts into 0.02 KI tokens.
After all, the issue with fixed token printing is inflation. To fight this, Genopets consists of quite a lot of use circumstances for KI. Any form of improve, enchancment, or enhancement to Genopets and Habitats requires KI tokens. Gamers are additionally restricted in how a lot KI they will generate primarily based on their Habitat stage. A stage one non-Genesis Habitat is capped at a every day restrict of 30 KI, whereas a stage three Genesis Habitat can harvest as much as 80 KI per day. Gamers may join a number of Habitats to extend this restrict.
And although the workforce is making an attempt onerous to verify their financial mannequin is sound previous to launch, it’s probably that some changes shall be made alongside the best way.
KI Token Utility
KI token is the utility token for Genopets and the gateway to just about each exercise within the sport other than the essential Vitality era.
Gamers use KI tokens with Unrefined Crystals of their Habitats to create Refined Crystals. These with out Habitats must lease from homeowners to be able to convert Crystals. Making a Refined Crystal prices 10 KI tokens. These Crystals are used for Habitat repairs, to switch Genopets, or mixed to create recipes. We don’t know loads about these recipes but, however the Genopets workforce claims there are over 70 of them. Some examples given to us embrace Chroma Crystals, Gentle Crystals, Potions, Tools, and Meals!
Upgrading Habitats additionally prices KI tokens. Fairly a couple of the truth is! Upgrading to a stage 2 Habitat consumes 2400 KI, whereas a stage 3 Habitat wants 3000 KI.
Degree 3 Habitats permit their homeowners to spawn Terraform Seeds. These Seeds are wanted for the creation of recent Habitats, which additionally use KI tokens. Wherever from 1,800 KI to 10,000 KI primarily based on the Grade of the Terraform Seed.
What’s Genopets?
Genopets is a free-to-play, “transfer to earn” sport constructed on the Solana blockchain. Genopets makes use of information tracked by a smartphone or health wearable to stage up a Genopet NFT. Gamers summon their pet and quest within the Genoverse exploring hidden lands, discovering loot, crafting gadgets, and battling with different gamers.
The play-to-earn financial system of Genopets consists of 4 main components:
- GENE token – the governance and staking token for Genopets
- KI token – the reward and utility token
- XP – a stat within the Genopet NFT metadata that will increase by way of exercise
- Gene Crystals – NFTs crafted from GENE and KI to speed up and direct the evolution of a Genopet.
Habitats are NFTs gamers should purchase on the markets or craft in-game, and the primary gateway into play to earn. Every Habitat holds one Genopet. Habitats generate Crystals and KI tokens passively, whereas additionally growing the expertise your Genopet earns. Gamers should preserve their Habitats or manufacturing stops.
Gamers can generate earnings from leveling up Genopets and promoting them. Or they will construct a habitat and promote the Crystals and KI tokens produced. The GENE token exists on each Solana and Binance blockchains. Genopets is at the moment in non-public beta and including new gamers regularly. In addition they opened up a staking program for his or her GENE token.
