GROVE tokens are set to launch this Friday April 26 , the token generation event (TGE). We’re excited to share more details about the utility and benefits that GROVE offers to users in the GroveWars Web3 gaming ecosystem.
A Theta TNT-20 token, GROVE will be launched to create in-game utility and enhance the user experience for GroveWars and the upcoming 3D Character Builder application for users around the globe. The 3D Character Builder will enable you to pick a Pine character, customize with basic free accessories as well as premium items purchasable with GROVE tokens. These 3D avatar characters can be viewed in a 360 viewer and mintable to an unique NFT that you can showcase, share on social media and list on Thetadrop, OpenTheta or ThetaRarity for sale.
The business model of free-to-play gaming monetized through in-app purchases and microtransactions has long dominated the digital gaming landscape throughout the Web2 era. With GROVE, Web3 gamers will be able to enhance their overall in-game experience, character aesthetics, and improve their GroveWars performance by making use of the expansive utility provided by the GROVE token.
If this is your first time learning about the GroveWars platform, check out the FAQs to learn about the platform and what it means for the Theta ecosystem and existing stakeholders. We will also be releasing an updated whitepaper in the coming weeks that will contain, among other things, additional details on token allocations for existing Pineholders.
April 26th Launch Plan
Here’s the current status and launch plan of GROVE in the next few days:
- First, the Grove smart contract and related smart contracts on the GROVE subchain are now live.
- The Theta team will update the Theta Wallets to show GROVE token balance, allowing users to begin storing and transferring GROVE TNT-20 tokens. Theta web wallet along with the mobile iOS and Android wallets will be updated, pending processing time on Google Play Store and Apple App Store. The Theta explorer will also incorporate and show the GROVE subchain, GROVE token and related metrics.
- GROVE staking will be going live in the next few weeks on the GroveWars website, with more details to come soon.
- ThetaSwap liquidity pools for GROVE-TFUEL are expected to go live soon after TGE as well.
GROVE Token Utility Summary
GROVE will offer three main utilities in the coming months, with more to be announced later in the year:
- Users will be able to utilize GROVE tokens to make a variety of in-app and in-game purchases and enhancements including (i) character features and customizations, (ii) apparel, (iii) weapons / battle items and (iv) additional items to be released over time.
- Users will be able to use GROVE tokens to mint 1:1 NFTs that represent the character builder 3D model with a main character, and any combination of weapons, apparel and accessories.
- Users will be able to utilize GROVE tokens to participate in periodic GroveWars tournaments, seasonal events and additional in-game activities to be announced.
GROVE Token Details
Token Name: GROVE token
Ticker symbol: GROVE
Decimals: 18
Total supply: 1 Billion GROVE
Total minted at TGE: 850,000,000 (850 million) GROVE
150,000,000 (150 million) over 4 years via smart contracts as GROVE staking rewards
Token address: 0xC1cFF4648D490480F3B7E1449aaE5f7a34A75DFA
Implementation: Theta TNT-20
GROVE Explorer Details
The Theta Explorer allows you to explore and search the GROVE subchain for blocks, transactions, addresses, stakes and other activities taking place on the subchain.
Below is the Theta Metachain Overview Page, from here users can navigate to the GROVE subchain:
Grove subchain explorer below will show block production, transactions, staking information, related daily transaction and wallet metrics:
Theta Wallet integration for GROVE
GROVE tokens can be accessed via the Theta web wallet, iOS/Android mobile wallets, and Metamask.
Once you’re in your Theta wallet, you will be able to check the balance, send and receive GROVE along with THETA, TFUEL, TDROP and other TNT-20 tokens.
For those who would like to swap GROVE to and from other tokens such as TFUEL, we will be sharing a separate blog explaining how to use decentralized exchanges (DEX) that will support GROVE, including ThetaSwap, the first decentralized exchange built on Theta blockchain.
