Tokenomics (MGT)

Overview of MGT in metaverse

The Metagame Token (MGT) is thought to provide a solution to the Liquidity Issue. Metagame tokens are normal BEP-20 tokens that use the MGT Protocol to provide continuous liquidity while aiding price discovery automatically. The MGT contract handles buy and sell orders in real time, which is what drives the price discovery process. Metagame tokens do not need to be traded on an exchange to become liquid and speedy in transactions because of this capacity. A Metagame Token has a balance of at least one other reserve token, which can be a different smart token, any BEP-20 standard token, or Ether (at the time of writing). Because Metagame tokens are created when they are purchased and destroyed when they are liquidated, it is always feasible to buy a Metagame token with its reverse tokens and liquidate a Metagame token to its reverse token at the current price.

Mining MGT

MGT Tokens are obtained by playing on Metagame and mining MGT will be like mining cryptocurrencies like Bitcoin and Ethereum: there will be a limited amount of tokens each day. This ensures a predictable issuance and in the case of MGT, it has a limited maximum supply. The daily maximum amount of MGT will be distributed among Metagame players according to the rarity of the player’s account. This is determined by the largest quantity of Rare Accounts that players hold. And they can be withdrawn every 15 days.
Players account will be divided into 2 different types, virtual accounts (common and uncommon), and NFT accounts (rare, epic, legendary, and mythical).

MGT Mining Distribution

Account Rarity
Percentage to distribute
Rare
31%
Epic
35%
Legendary
25%
Mythical
0% (will be activated on 2022)
Weekly Staking
9%
The percentage to distribute will be carried out among all players with the same rarity.

Daily Tokens distribution and halving

We must not forget that the Metagame Token has a limit, and more than 70% of the tokens will be given out to players.
In an effort to incentivize and reward the first players, we have created a “halving” system, quite similar to Bitcoin’s one, where the MGT emission will be divided by half. That means that the first players will receive more tokens for playing the game, just like it was on Bitcoin 10 years ago when a miner got 50 BTC. Do you imagine getting and holding 50 BTC? In Metagame tokens, we are going to start distributing 1 million $MGT daily for the first 90 days after the game launch.
Final daily distribution and token halving remain as stated next:
  • In the first 90 days, the maximum distribution will be about 1 million MGT per day
  • On the 91st day, maximum distributions will be 500,000 MGT per day (First halving)
  • On the 181st day, distributions will be 250,000 MGT per day (Second halving)
  • On the 271st day, distributions will be 125,000 MGT per day (Third and last halving)
Since day 271 distributions will remain unchanged for the next few years until completing the issuing of tokens, expected to be in 10 years.

Release event

Within the first 30 days after game release, there will not be accounts with enough Mythical Accounts to win the bonus and the mining percentage. For that reason, and to encourage players, we have decided to share out MGT for the first 90 days as follows:
Account rarity
Percentage to share
Rare
40% (Max 200 MGT daily per account)
Epic
30% (Max 1000 MGT daily per account)
Legendary
20% (Max 2000 MGT daily per account)
Mythical
0%
Weekly Distribution
8%
PVP
2%