Gamefi is the latest trend of the crypto frenzy. With the combination of P2E and NFT, people are starting to earn a living with blockchain games. Yet, mainstream gamefi does not build with a long-term vision in mind when it comes to their tokenomics which is why their model is not sustainable and most of them have failed.
World of Cryptoids is different. We are in it for the long haul. With our dual-token system and delicately designed tokenomic, we provide a sustainable gaming and financial experience.
DUAL-TOKEN MODEL: $CAC & $CGC
World of Cryptoids has a sophisticated dual-token model design to sideline the income-earner (people who cash out on a daily basis) from WoC valuation. The dual-token: $CAC and $CGC have distinct uses and serve different roles in our ecosystem.
$CAC, also known as Cryptoid Admin Coin, is a BEP-20 based governance token of the WoC ecosystem, with a total supply of 500,000,000. Holding $CAC will grant you the right to create and vote on on-chain governance proposals, shaping the future features and parameters of WoC. Also, you will be able to spend your $CAC on a variety of game mechanisms including upgrades, breeding and more.
$CAC is designed to be scarce: it has a finite supply and isn’t easily obtainable. Aside from purchasing $CAC directly, there are several ways to earn $CAC:
- Stake your $CAC to earn more;
- Participating in the ecosystem through playing and events;
- Recruiting new players into the game;
- Engaging in governance;
With the inherent scarcity and multiple usages, $CAC is designed to be HODL as it will naturally appreciate in value over time. If you want to know more about the token distribution spread and lock-up period, feel free to check out our whitepaper: https://cryptoids.gitbook.io/whitepaper/cryptoids/tokenomics/usdcac-token
$CGC is a BEP-20 based, secondary token within the WoC ecosystem, which has more day-to-day usage. Unlike $CAC, $CGC does not have a cap in total supply and it is relatively easy to obtain by the average player.
$CGC is used mainly for breeding Cryptoids, as you breed with the same Cryptoids parents, more and more $CGC will be needed. Additionally, you can burn or use $CGC for different features, such as rerolling Cryptoids’ features and refilling daily energy pools.
$CGC is the primary reward for players who complete the game content of WoC. Through playing and winning Adventure game mode (PvE) and Arena game mode (PvP), you could earn $CGC as a reward, which you could exchange into other crypto or FIAT currencies in our partner exchange.
Therefore, we expect $CGC to be the cashing-out option for average WoC players to take profit. This in turn will put natural selling pressure on $CGC. Therefore, the development team also put a heavy focus on multiple anti-dumping mechanisms to maintain the token price of $CGC, which will be mentioned below.
$mCAC AND $mCGC
To reduce friction for the players, $CAC & $CGC is not directly used in WoC. Instead, when a player deposits $CAC & $CGC into their wallet, it will be reflected as $mCAC and $mCGC inside the game. On the contrary, the player earns $mCAC and $mCGC in the game where it could be withdrawn back to $CAC & $CGC at a 1:1 conversion rate.
By using $mCAC and $mCGC, players do not have to pay an additional transaction fee if they had decided to purchase an in-game product or features as $mCAC and $mCGC is the off-chain representation of $CAC and $CGC.
HOW $CGC NOT BE FLOODED BY INFLATION?
This is a common question after grasping a brief idea of the WoC duo-token model. Since $CGC has an infinite supply and is easily accessible through normal game content, this token is very vulnerable to inflation.
You are not wrong if you thought of that, in fact, it is a fairly common problem of mainstream p2e blockchain games that do not have a sustainable and solid tokenomic. To counter the natural inflation pressure created by daily withdrawal and increasing supply (through game content reward) of $CGC, the development team invented multiple spending and value-locking channels for $CGC.
First off, we burn $CGC regularly. Burning is a common measure within the space to reduce the supply of a cryptocurrency, which refers to sending tokens to an inaccessible address to segregate those tokens from the circulating supply. In WoC, we have multiple channels to burn $CGC. All the $CGC used for breeding Cryptoids will be burnt, additionally, the $CAC used for breeding will also be used to purchase more $CGC for burning.
Aside from burning, WoC will schedule regular token buy-backs by tapping the WoC treasure funds. This will further decrease the surging supply of $CGC, keeping the token value intact.
Alternatively, the token mechanic also encourages players to reinvest and stake their $CAC & $CGC to earn additional tokens and a chance to farm rare NFTs. Through staking and other alternate usages, it could prevent players from cashing out their $CGC as soon as they earn them.
In summary, the tokenomic of WoC seems complicated at first glance, but it naturally boils down into two parts: 1) Creating attractive ways to encourage players to lock up/spend their token within the game; 2) Reducing the circulating supply of tokens with regular buy-backs and progressive burning mechanics.
