Tokenomics in gamefi is referred as a kind of “monetary policy” applied to blockchain game projects, providing information for analyzing factors and contexts before investing in these projects, and at the same time regulating the cash flow in the gamefi ecosystem.
As the vision of SnakeCity is to bring long-term benefits to investors and players, the development team have built SnakeCity’s tokenomics to clearly demonstrate a sustainable ecosystem.
In Snakecity, we will use a Dual Token model with 2 tokens, $SNCT and $TOC.
$SNCT is the native govern token of SnakeCity, which has real money value and can be cashed out on exchanges. Players can get this token either through trading, staking or in-game reward.
The primary utilities of the $SNCT token include:
- To buy Eggs and NFT Snakes in the marketplace;
- Distributed as rewards for players in the Arena Battle play mode;
- Distributed as rewards for token holders when staking;
- To govern the SnakeCity ecosystem.
$SNCT has a maximum token supply fixed at 1,000,000,000 and cannot be changed. The mechanism of fixing the maximum supply will help to reduce the risk of future token inflation.
Below is the distribution of $SNCT:
Meanwhile, $TOC is an in-game cryptocurrency that plays an important role in the universe of SnakeCity. When players use features such as breeding or skin etc., $TOC will be spent.
The primary utilities of the $TOC token are:
- To buy more turns to play in the Arena Battle game mode;
- To buy tickets to play in the Tournament game mode;
- To buy in-game NFT items such as energy stone or skins (except Eggs and Snakes that are bought using $SNCT;
- Distributed as rewards for players in the Training, Arena Battle & Tournament game modes;
- To use for breeding.
The fact that SnakeCity applies dual-token model will allow the players to play the game unaffected by primary token’s price fluctuations. $SNCT is traded on exchanges and valued in fiat, and it will reduce the influence of the secondary market on the in-game token and the game itself.
Anti Inflation Mechanism
To build a strong economy with a sustainable growth, an Inflation Reduced Mechanism has been created:
- Minting control;
- Token utility;
- Burning mechanism;
- Diverse revenue stream.
Beyond the GameFi, SnakeCity promises to bring out the most balanced economy including NFT Economy, Token Economy and Anti Inflation Mechanism.
Additionally, dual-token economies also provide opportunities to support different types of in-game interactions such as infra-token conversions, token mixing for character progress or crafting, etc.
More updates on SnakeCity can be found at SnakeCity’s official channels: