Tokenomics for $GOLD, the token for fantasy idle RPG DeFi Dungeons, have officially been revealed ahead of the TGE that is scheduled for Wednesday, March 19th.
What Is DeFi Dungeons $GOLD Token?
$GOLD is the core game token for DeFi Dungeons that is designed to be used for everything related to the Solana-powered title. Specifically, you will be able to use the token to summon new Heroes, buy Dungeon Keys, unlock unique abilities in the talent tree, increase your power by enhancing various stats, as well as trade with other players in the Auction House, alongside potentially other utility not yet revealed.
It will be possible to play to earn $GOLD through various game mechanics, such as dungeons, raids, and quests. Tokens are planned to be distributed through these in-game systems over the course of 2 years. Let’s check out the full tokenomics!
What Are the DeFi Dungeons $GOLD Tokenomics?
According to the recently revealed tokenomics, $GOLD will have a total 1 billion token supply that is allocated across 4 different categories: Rewards/Game Mechanics, Vault, Liquidity & Reserve, and Marketing.
77.5% of the total supply goes to reward distribution, while 10% is reserved for the Vault, 7.5% for liquidity and reserves, and the remaining 5% is set to be used for marketing. The circulating supply on launch is set to be 12.5% with a launch market cap of $3.75 million. No vesting schedules were revealed.
The team has stated in an announcement on the game’s official Discord server that there is no team supply and no insiders either. Users who have access to the Vault will be the first to have the chance of getting $GOLD before trading officially starts. Let’s find out how that works!
How Does DeFi Dungeons $GOLD TGE Work?
The $GOLD TGE is set to be powered by Meteora’s Alpha Vault technology, which is said to allow all participants to join in on the token launch at the same price. There is no whitelist, no private sale, nor presale according to an earlier Discord announcement, making the Meteora Vault the only way for anyone to purchase the token on TGE. While it looks like there was a presale for their Hero NFT, it seems that won’t be the case for the game’s main token.
The Meteora Alpha Vault is an anti-bot system designed to enable a fair launch in which the actual, genuine community of a blockchain project can properly buy tokens on TGE while preventing sniper bots from disrupting the launch in the process. You can check out the official Alpha Vault documentation to learn more in-depth details.
Basically, for the $GOLD Vault TGE, everyone will have 24 hours to deposit $SOL in order to buy the token at the capped price of $0.03. The $GOLD Alpha Vault opens on March 19th at 5 PM UTC and will close on March 20th at around 5 PM UTC. Once the Vault closes, $GOLD trading will officially begin, but more exact timings are planned to be revealed in the coming days before the Vault opens.
So, if you want to buy $GOLD on launch at $0.03, you’ll have to deposit $SOL into the Vault once it opens. The Vault uses pro-rata distribution, meaning that tokens will be distributed proportionally depending on the number of total $SOL contributions. When the Vault closes, all participants will be able to claim all of their tokens. There is no vesting schedule to limit the number of tokens you can claim.
A total of 100 million $GOLD tokens has been allocated to the Vault, which is 10% of the total supply. While there is a deposit cap of $3 million, the team’s Discord announcement has clarified that it can actually be exceeded. If it does get exceeded, the pro-rata distribution system comes into play, and the supply allocated to the Vault won’t change. If you’re not sure how this works, here’s an example given by the team: if a total of $5 million gets deposited into the Vault, and you deposited $50k, you own 1% of the total deposits. This means that you get 1% of the 100 million tokens at the cap price of $0.03, so only $30k of your $SOL is taken. The remaining $20k actually gets refunded back to you. Sounds like a pretty good system!
Since there doesn’t seem to be any whitelists, everyone should be able to join in on this fairer type of TGE once the $GOLD Alpha Vault opens. If you’re interested in the $GOLD token and the DeFi Dungeons game itself, it’s best to join their official Discord server to get all the details you need to properly participate. The game itself is not yet playable, but it might go live later this month after the token launches.
In the meantime, you might also want to check out the top 5 play to earn games dominating on Solana right now!
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