Tokenomics
The Utility token in LoM
Token Name
Type
Total Supply
MITA
Governance
200,000,000
MXP (MITA Xtra Potion)
Game Token
Unlimited
MITA will be distributed in the order below.
Token amount
Total Supply
%
Vesting
Play and Earn
50,000,000
25%
Starts in Q2, 2022
Marketing
15,000,000
7.5%
Starts in Q2, 2022
Private Sale
70,000,000
35%
10% TGE + 5 months cliff + 12 months vesting
Public
5,000,000
2.5%
20% on TGE + 20% each month
Advisors
5,000,000
2.5%
5% on TGE + 5 months cliff + 7 months vesting
Staking & Liquidity
25,000,000
12.5%
Some unlock, Some locked
Team members
30,000,000
15%
1 year cliff + 3 years vesting
Total amount
200,000,000
100%

Play and Earn MXP

Players will be rewarded with MXP while playing the game. This process will take into consideration
  • Player's activeness in the game
  • Player's engagement in the game
  • Type of hero they are using

Play and Earn MITA

Players can earn MITA via various channels including
  • Completely daily quest
  • Staking MITA
  • Selling Heroes and Monsters on the marketplace

Fees

All fees would be charged in MITA. A 3.0% fee will be charged on all transactions and would be distributed as follows
  • 50% will be burnt
  • 50% will go to MITA Games Treasury

MITA Burning Mechanism (Destroying)

Every 5 days a collected amount of MITA will automatically be burnt. MITA will continue to be burnt until it reaches a total supply of 100,000,000. This mechanism will decrease the total amount of token supply over time and will ensure the scarcity of MITA.
  • Burn 50% of all transactions fees
  • Burn 50% of all purchases with MITA

MXP Burning Mechanism (Destroying)

  • Burn MXP to buy in-game items
  • Burn MXP to upgrade Hero levels
  • Burn MXP to upgrade Monster levels
  • Burn MXP to upgrade Fort level

Buying of MITA token

MITA token can be purchased as an In-App Purchase (IAP) using a debit or credit card from the Google Play Store or Apple Store. It can also be transferred from other exchanges into the Game.
The base price to purchase MITA token in the game will be determined during mainnet launch . If the average price per token on third-party exchanges increases above base price for an extended period of time, the price per MITA in the game will also increase to the new average price.
In the event that a user decides to buy MITA via an IAP, they will be buying from our IAP reserve. Every 90 days, we will buy MITA from the open market and keep this in the IAP pool, which will be sold to players buying MITA from the app stores. MITA tokens sold in the game will be 10%-15% premium than what it is on the open market or 3rd party exchanges to help cover the fees and taxes on the various app stores.

Halving

Every 2 years, starting from 1st May, 2023, the total amount of reward (R) players earn in the game will be halved. This will continue until 1st May, 2026. Below is a list of the halving dates and time;
Let nR = New Reward
  • 1st September, 2022 : 12:00am => nR = R/2
  • 1st September, 2024 : 12:00am => nR = R/4
  • 1st September, 2026 : 12:00am => nR = R/8