💱Tokenomics - $VIRT
Last updated
Last updated
Our Metaverse project introduces a native cryptocurrency token - $VIRT, designed to fuel economic activities and incentivize participation within the virtual ecosystem. we have refined our tokenomics model to ensure sustainable growth, scarcity, and value appreciation over time.
Token Utility: The native token serves as the primary medium of exchange within our Metaverse platform, facilitating transactions, incentivizing participation, and powering economic activities across the ecosystem. Users can utilise the token to purchase virtual assets, access premium content, and engage in transactions with brands, influencers, and other participants within the virtual environment.
Transaction Fees: Every transaction conducted within the Metaverse incurs a nominal transaction fee of 1% to 5%, which contributes to the overall sustainability and development of the ecosystem. These transaction fees help maintain network security, support platform maintenance and upgrades, and incentivize validators and stakeholders to participate in the validation and governance processes.
Token Burning Mechanism: Upon each transaction, a portion of the transaction fee, specifically 20%, will be permanently removed from circulation and burned. This token burning mechanism is implemented to reduce the total supply of tokens over time, thereby increasing scarcity and deflationary pressure on the token. As a result, the value of the token is expected to appreciate gradually, rewarding token holders and contributing to long-term sustainability and value creation within the ecosystem.
Economic Incentives: To encourage active participation and engagement within the Metaverse community, users may also earn rewards and incentives in the form of staking rewards, liquidity provision incentives, and referral bonuses. These economic incentives serve to foster a vibrant and dynamic ecosystem, incentivizing contributions, content creation, and collaboration among users, brands, and influencers.
How does the price of VIRT increase over time?
VIRT has a fixed supply.
VIRT’s supply goes down as trading volume increases.
5% transaction fee on primary sales, paid in VIRT.
1% transaction fee on secondary sales or trades, paid in VIRT.
20% of all transaction fees, paid in VIRT, gets destroyed.
More trading volume in our network of virtual worlds => less VIRT token in supply => higher price
20% allocated to the team, subject to a gradual unlocking process spanning over 2 years subsequent to the public release.
45% reserved for economic growth and strategic purposes.
10% earmarked for the seed sale, catering to investors.
10% designated for the private sale, targeting investors.
15% allocated for the public sale, intended for wider investor participation.
Through the implementation of a balanced tokenomics model that incorporates transaction fees and token burning mechanisms, we aim to foster long-term sustainability, stability, and value appreciation within the Metaverse ecosystem. By reducing token supply and increasing scarcity over time, we seek to create a deflationary economic environment that rewards early adopters, incentivizes holding, and strengthens the foundation for continued innovation and growth in the virtual world.
