Tokenomics
The Utility token in LoM
MITA token will be a cross-chain asset that will be available on Klaytn, Cronos, Algorand, and Binance chain. Players will be able to earn MITA through;
  • Winning leaderboards.
  • Staking MITA.
  • Selling NFTs.
  • Participating in governance votes.
A total of 200,000,000 MITA tokens will be distributed in the order below.
Token amount
Total Supply
%
Vesting
Play to Earn
50,000,000
25%
Starts in Q2, 2022
Ecosystem
5,000,000
2.5%
Starts in Q4, 2022
Marketing & Partnerships
10,000,000
5%
Starts in Q2, 2022
Strategic
25,000,000
12.5%
10% TGE + 5 months cliff + 12 months vesting
Seed
25,000,000
12.5%
10% TGE + 3 months cliff + 12months vesting
Private
20,000,000
10%
10% on TGE + 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 to Earn

Players will be rewarded with MITA while playing the game. This process will take into consideration the activeness and engagement of players in the game.
Fees
3.0% fees will be charged on all marketplace transactions, token, and asset transfers.
  • 20% will go to the gaming pool
  • 10% will be burned
  • 20% staking rewards pool
  • 50% will go to Gem Studios Treasury

Deflationary Mechanism

Actions such as token transfer, NFT transfer, NFT sales will attract a fee, 10% of the amount will be burnt. This mechanism will decrease the total amount of token supply over time and will ensure the scarcity of MITA token.

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 purchased from crypto exchanges and decentralized peer-to-peer platforms like Cryptolocally.com.
The base price to purchase MITA token in the game will be $0.07 USD(subjected to change). If the average price per token on third-party exchanges increases above $0.07 (subjected to change) 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 3 months, Gem Studios 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 cost, fees, taxes on the various app stores.

Ecosystem Fund

The purpose of the ecosystem fund is for growing the LoM community. It will initially be managed by the Gem Studios team. Overtime Gem Studios team will integrate the funds into a DAO and hand it over to the community and stake holders to manage.
Last modified 24d ago