Tokenomics is an essential aspect of any solid GameFi project. A good many GameFi projects have come up with various tokenomics models. The two-token model is popular among GameFi projects. In the two-token model, one token is used primarily for governance or in-game purchases, while another token is used solely for rewards allocation. In the two-token model, the rewards token is highly inflationary; this leads to a drastic reduction in the token value over time, discouraging new gamers from joining the ecosystem.
The uncapped supply of most rewards tokens drives down their price. To curb high inflation in the two-token model, GameFi companies apply deflationary mechanisms, sometimes at the expense of the community, to try balancing inflation, maintaining the token value, or giving the token some use case; however, these are not sustainable in the long term.
IDVT is Ideaverse’s studio-wide token?—?a token used across all of Ideaverse Games Studio’s projects. Unlike other GameFi projects where the tokens have only in-game utility, IDVT has an all-encompassing utility in the Ideaverse ecosystem.
The tokenomics and utility for IDVT have been mapped out by the team to create a balanced and highly-profitable ecosystem.
IDVT Utility
As a studio-wide token, IDVT has a more practical use case in comparison to tokens of other GameFi projects whose only utility can be found in-game or for rewards. Here are a few, out of many, IDVT use cases in the Ideaverse ecosystem.
Governance: Ideaverse aims to be a true community-owned games studio. IDVT is the governance token of Ideaverse Games Studio. Holders of IDVT will have full decision-making power in the ecosystem, similar to how shareholders have voting rights in an LLC.
Ideaverse is run on the principle of Decentralized Autonomous Organisation (DAO). In Ideaverse’s DAO, holders of IDVT elect a five-member committee. Each committee member has a term of months. A president is also elected among the sitting members of the committee to head the committee during the term period. The process of electing committee members and a committee president is transparent and DAO-governed using IDVT. This method of DAO eliminates the possibility of a single group of whales (holder[s] of a large quantity of IDVT) having absolute voting power in the ecosystem.
Holders of IDVT can make proposals related to Ideaverse or its products. When a proposal is made, it is given an order of precedence and treated according to this order. The proposal is then by the core team members and submitted to the committee for voting.
Staking: IDVT can be locked in staking and liquidity pools. Holders of IDVT can earn more IDVT as rewards for providing liquidity.
Marketplace: In Metora’s marketplace, where users can list and trade in-game assets, IDVT is the main currency for NFT trade, upgrade, and listing.
Metora Planet: In the Metora Planet, IDVT will be the currency of the metaverse. It will be used for the purchase of lands and equipment, and in creating or joining guilds.
As the ecosystem grows and expands, so will the utility of IDVT.
IDVT Tokenomics
IDVT has a capped supply of 150,000,000. This means not more than 150 million IDVT will ever be minted. Having a capped supply reduces the possibility of inflation. There is also a burn mechanism in place to maintain the token’s value.
IDVT is allocated, distributed, and reserved based on a well-planned structure and schedule.
9% of the total supply of IDVT is reserved for potential renowned investors.
8% will be allocated to the initial liquidity pool and IDO participants.
15% will be distributed to the development team and will be spread over four years, after the launch of the first Ideaverse project.
7% will be distributed to Metora, in a linear time frame.
24% will be distributed as staking rewards, gradually over
20% is reserved for in-game rewards and will be distributed gradually over four years.
17% is reserved as community funds, of which about one-third will be unlocked after the token generation event.
IDVT Airdrop
Ideaverse is holding an IDVT Airdrop via a Gleam campaign. A total of 5,000 IDVT tokens, 5 IDV Club Passes, and 200 White List spots will be won.
Join the Airdrop Campaign Here:
https://cutt.ly/0CFOevk
Visit Ideaverse Official Website to Learn More about Ideaverse and the sub-projects:
https://ideaverse.games
