The mobile gaming platform Arc8 on Polygon has shot to the top of the DappRadar game rankings. Play-to-earn mechanics, a new partnership, and a friendly user experience all account for the tremendous launch of Arc8.
In the last 7 days, Arc8 attracted 115,290 unique active wallets to its platform that completed 311,830 transactions. This result has pushed the Arc8 dapp to the top spot in the DappRadar game charts and to the number one spot on the overall Polygon rankings. Moreover, we see when compared to other Polygon dapps that Arc8 has attracted a lot more active users than leading exchanges and defi applications on Polygon over the last week. As we continue to see GameFi supersede DeFi and all other categories for eyeballs right now.
Gamee, a subsidiary of Animoca Brands, announced its partnership with Polygon Studios on the 23rd of September. The deal saw Gamee deploy its GMEE token and upcoming blockchain mobile gaming application Arc8 on the Polygon network. Moreover, it’s hoped the move to Polygon will minimize Arc8 users’ transaction fees and make play-to-earn activities more efficient.
What is Arc8?
Arc8 is a mobile esports platform where players compete in games and earn rewards. Players use GMEE tokens to participate in Arc8’s player vs. player matches and tournaments and to buy non-fungible tokens (NFTs). The GMEE token will also have governance functions, including allowing token holders to vote on Gamee roadmaps, game deployment, and the distribution of prize and rewards pools. Moreover, The GMEE token might also gain further use across other dapps, especially those of the parent company Animoca Brands. The core function of the GMEE token is as follows:
- Gameplay Payments and Entry Fees – Players will need GMEE to pay an entry fee to all skill-based tournaments in Arc8 and G-Bot games.
- Gameplay Rewards – Rewards across supported games are paid in GMEE.
- NFT Purchases – Players will need GMEE to purchase game characters (G-Bots) and to purchase various types of Game Land.
- NFTs Upgrades – Players will pay with GMEE to upgrade their G-Bot and increase the robot’s overall power and stats.
- Staking – Staking G-Bots will enable their owner to earn rewards in GMEE.
- Governance – GMEE will allow holders to participate in decisions about the platform features and content. Voting rights can be exercised on the game’s roadmap, the featuring of game content, distribution of prize reward pools, and decisions around in-game NFT land.
The initially limited beta of Arc8 quickly became the number 1 dapp on Polygon by users with a full launch of Arc8 happening at the end of October. Presumably, players piled in to start collecting GMEE using the mobile mining app.
Staking GMEE
In order to stake GMEE, first, you need to buy some. Users can now swap tokens directly on DappRadar. To get GMEE, click here. You can swap any ERC-20 token in your blockchain wallet for GMEE.
Once you have your GMEE tokens you are ready to stake them. Head to Uniswap to first provide liquidity and get LP tokens. Once you land on the page, connect your wallet, then click pool at the top of the page. Once there, click on the top pools button on the right. Search GMEE and click on the ETH/GMEE pool.
Now you are looking at data for that particular pool. Click add liquidity on the right.
Now change WETH to ETH and input the amount you would like to deposit.
Once your transaction has been completed, head over to staking.gamee.com and connect your wallet. Once it’s connected, approve the contract and we are almost there. Once the contract has been approved, it’s time to stake your LP tokens. Click on the “+” button to start staking.
Select the amount and confirm.
Wait for your transaction to confirm. It will take more or less time depending on the gas fees.
The staking transaction was completed successfully and you’re now all set.
Now it’s time to wait and see your GMEEs increase. You can stake at any time, but the longer you leave it staked during the liquidity mining event, the more GMEE you’ll collect.
The above does not constitute investment advice. The information given here is purely for informational purposes only. Please exercise due diligence and do your research. The writer holds positions in ETH, BTC, ADA, MATIC, SAFEMOON, HEX, LINK, GRT, CRO, OMI, USDT, SOL, SHIBA INU, AVASTR, RAY, BOSON, AND OCEAN