MPWR: Everything you need to know

CLUBRARE

Published in

ClubRare Universe

4 min readFeb 8, 2022

MPWR is a utility token commonly used at ClubRare’s Metaverse.

What is ClubRare Metaverse?

The dedicated metaverse platform scheduled to be released by ClubRare is a personalized mini metaverse that can be connected to other metaverse platforms. Individuals and anyone who wants to promote their brand can create a mini metaverse through ClubRare. Users can decorate both inside and outside of their mini metaverse to suit their identity. The mini metaverse is one axis of the AGOV token economy.

MPWR Token Utilities

Showcase for the physical NFT

Users can display their physical NFTs in their showcase and also convert the physical products they own into NFTs and display them in their personal Metaverse showcase. The users can create their own customized showcases by decorating them with various physical NFTs and interior elements.

Guild

It is a group for collectors who are interested in UNIQUE items. In the guild, collectors can interact with each other, share their tastes, and display guild-exclusive physical NFTs. Sometimes, NFTs that can only be obtained at the guild are dropped. Through regular Guild Battles, the winners can earn MPWR.

Quest/Battle/Contest

Quests, Battles, and Contests will be held on either a regular or occasional basis. Participants can show their physical NFTs and boast their personal tastes to the world. The participants can earn MPWR once they satisfy the required condition. However, they may have to use MPWR in a special quest.

Examples of MPWR Issuance and Burning

AGOV’s token economy has a structure of which MPWR issuance and burning continues. Moreover, AGOV encourages the value of itself to rise in order to maximize the MPWR reward. Lazy Leo owners can get extra rewards.

Burning

MPWR tokens are used in most of the activities within the Metaverse service, such as decorating a showcase and an avatar or renting an item, and at this time, the tokens used are burned immediately.

Issuance

MPWR airdrops are made within the allocation of 5 billion out of the initial issuance of 10 billion MPWRs. Once the amount runs out, additional MPWRs will be minted to the initial issuance of 10 billion MPWRs.

Issuance factors

Rewards for all kinds of activities, such as participating as a judge for a Metaverse battle, winning at an individual/group battle, and completing quests, are made with MPWR tokens.

Differences from Axie Infinity

As SLP coins are only used when purchasing or breeding Axies, the value of the token is closely related to the value of Axie. However, MPWR is used not only for purchasing/combining/breeding Lazy Leos but also for various activities within the service, thereby having a token economy that also pursues the stable value of the coin.

MPWR Token Allocation

1. Community Mining: 35%

It can be used for Staking, Liquidity mining, and other activities. The allocations will be used when expanding to various mainnets in the future.

2. Platform Activity Mining: 50%

The allocation is for F2E (Favorite to Earn) based reward, a reward for activity within the Metaverse service. The Closed Alpha version of the Metaverse service is aiming to be released in 2022, and the official version is to be released in 2023. The allocation can be partially used as a reward for activity in ClubRare, but most of the allocations will be used at the Metaverse service. After using all of the allocations on the Metaverse platform, additional MPWRs will be automatically issued through Smart Contract, according to the Metaverse service being used. However, MPWR aims for an F2E economic model that can burn more tokens when the activities within the service increase.

3. Development Fund: 15%

DEV FUND is up to 15% of the total issued quantity (10 billion). There will be no additional DEV FUND allocation for the additional MPWRs issued after the official release.

4. Minting Amount: 10 billion MPWRs

10 billion MPWRs are pre-minted, and the burning and issuance of the coin will be decided automatically according to the Metaverse service being used. The coins are burned through usage rate and item purchases and are issued as rewards for participating in activities. In other words, all MPWRs issued after the official release will have the automatic structure of burned through usage rate and item purchases and issued through participating in activities.