DeFi Dungeons, a fantasy idle RPG powered by the Solana blockchain, has unveiled the tokenomics for its core token, $GOLD. By Cointelegraph.
DeFi Dungeons, a fantasy idle RPG running on the Solana blockchain, has disclosed the tokenomics for its native token, $GOLD. The token is set to launch on March 19 at 5 p.m. UTC, with a total supply of 1 billion tokens.
A significant portion of this supply, about 77.5%, will go towards reward distribution through various in-game activities like dungeons, raids, and quests. This launch will also see 10% of the token supply allocated to a vault, 7.5% to liquidity and reserves, and 5% to marketing efforts.
At launch, the circulating supply will be 12.5%, kicking off the token's journey with an initial market cap of $3.75 million. Notably, there will be no team allocation or insider tokens, as the development team has confirmed on their official Discord channel.
For the Token Generation Event (TGE), DeFi Dungeons will be deploying Meteora’s Alpha Vault technology. This technology aims to ensure a fair launch by mitigating the impact of bots. Participants will have 24 hours to deposit $SOL into the vault in exchange for $GOLD at a capped price of $0.03.
The vault will open on March 19 and close on March 20, after which trading for $GOLD is expected to begin on March 20.
In total, 100 million $GOLD tokens have been allocated to the vault, which constitutes 10% of the entire token supply. The deposit cap for the vault has been set at $3 million. However, this limit can be exceeded.
If the total deposits from participants during the 24-hour window exceed the $3 million cap, a pro-rata distribution system will be implemented. This system will ensure that participants claim their tokens in accordance with their contribution to the total deposits.
For instance, if a participant deposits $50,000 out of a total of $5 million, they will receive 1% of the allocated tokens. In this case, they will claim $30,000 worth of $GOLD tokens, with the remaining deposit being refunded.
