If you’ve been following our journey, you’ll know that we used to be called BrainiacChess and that our token used to be called BRAIN. Due to the rising importance of the metaverse, we decided to rebrand ourselves and that also meant changing our token ticker to SHAH.
- Why SHAH Token? Read the story behind our ticker here.
Today, we have some more good news about the SHAH token and MetaChess project: We’ve made updates to our tokenomics, and would like to share them with you. These tokenomics updates should support the strength of the SHAH token while helping improve the financial sustainability of MetaChess.
Here, we’ll cover all you need to know about MetaChess tokenomics.
SHAH Tokenomics — The Latest Update
Here’s a side-by-side comparison of token details. We’ve made a good deal of changes from the BRAIN tokenomics.
Here’s a side-by-side comparison of token distribution.
As you can see, the total supply of our token has remained the same, which is the case with some other metrics as well.
Overall, we feel that the most significant change in token metrics is a greater emphasis on Staking and P2E Rewards. We’ve decided we want to incentivize users to play on the platform and enjoy doing so. That’s why we have so many ways to earn money on the MetaChess platform.
We also want to incentivize the players to use the token itself: the more use the token has, the more value it can accrue. Token appreciation benefits both the project and our community members.
We also wish to ensure more tokens are available for private sale participants. As you’ve seen from the tournaments and contests we held, we wish to reward our early supporters. The same goes for our funding rounds: We want to incentivize early adopters and investors.
Now, we have reduced the amount of tokens available for the public sale, but that was intentional as we’ve shifted so much more of the tokens towards staking and P2E. As we’ve said, we hope holders actively engage with the platform. So, we’ve designed SHAH tokenomics to encourage platform engagement.
To ensure project liquidity and token health, the MetaChess team has set up a token reserve, as well as implemented staking options for the community to support the project and earn rewards.
Vesting periods have been extended as well. This holds the team, advisors and community accountable, and helps ensure the token has less volatility early on. With longer vesting periods, we’re less likely to have the initial pump and dump that other projects experience.
SHAH Token Utility
The SHAH token is the main currency of the MetaChess universe. It’s integral to engaging on the platform, as it’s used for:
- Generating passive income
- Leasing land/squares
- Gaining entry to tournaments
- Transacting on the coaching platform
- Buying or selling custom NFT chess boards
- Accessing exclusive game modes
- Accepting money from advertisers
- And much, much more
Simply put, SHAH is your fuel to maximize enjoyment and benefits from the MetaChess platform.
About MetaChess:
MetaChess is the first 3D multiplayer play-to-earn (P2E) and NFT metaverse chess game. The platform is in 2D and 3D. The 3D version will be divided into two. The first part is the regular chess game, with traditional chess pieces in 3D. The second part is more animated and fancy. It consists of chess pieces in the form of humanoid characters. You can own NFTs (unique chess pieces) which will be used in the game. The platform also has play-to-earn (P2E) models that make it worth players’ time. The 2D version is currently playable. You can either play with AI or play with another user.
Official Links
Telegram: https://t.me/metachess_network
Telegram Announcement Channel: https://t.me/metachess_announcement
Twitter: https://twitter.com/real_metachess
Medium: https://medium.com/@metachess
LinkedIn: https://www.linkedin.com/company/metachess
Instagram: https://instagram.com/metachess_network
Website: Metachess.network
