Police & Thief Game (Phase 2)
Following the complete mint-out of our 50,000 unique Police & Thief NFTs on the Avalanche ecosystem, the unwavering question on everyone’s thoughts have been “so what’s next?”.
After hours of deliberation and taking into consideration the existing limited supply of the Police & Thief NFTs, the team has decided on a newfangled architectural design, a Tri-Token Tokenomics curated specifically to create continuous value for the Police & Thief Game. Of course, this has also been mapped out to compliment our overarching goal of becoming the NFT staking hub through the incorporation of DeFi with NFTs.
How Does It Work?
- Buy a Thief, earn $BRIBE
- Stake your $BRIBE, harvest $LOOT
- Use $LOOT to increase “sneakiness level” of your Thief
- Sneakier Thieves earn more $BRIBE
- REPEAT!
On the chilly Avalanche mountains, Thieves have been stealing $LOOT from JOE Bank whilst the corrupt Police have been taking their cuts. The Thieves know that this is not sustainable and will have to start using $BRIBE to buy their way towards increased influence and power. Thief NFTs can now use $LOOT to increase their “sneakiness level”, allowing them to perpetually earn $BRIBE for their owners at each level. On the other hand, Police NFTs will also perpetually earn $BRIBE based on the amount earned by each Thief NFT. The introduction of fungible tokens intrinsically linked to the Police & Thief NFT metadata designates the value of each NFT. A simple discounted cash flow of future $BRIBE emissions can be used to estimate the “fair value” of any Police or Thief NFT, whilst also factoring in the current price of $BRIBE and its rarity premium. The scalability and speed of the Avalanche ecosystem, coupled with its low fee structure has allowed for the introduction of the “sneakiness level” in our Thief NFTs, creating an upgradeable on-chain value for our NFTs.
There will only ever be a maximum of 42,925 Thief NFTs in Police & Thief Game, all of which have been fully minted. Each Thief NFT will have the same ability to earn $BRIBE at the same rate, providing a fair opportunity for every Thief to thrive at different rates as they utilize $LOOT and $BRIBE smartly. As more $LOOT is utilized by your Thief NFT over time, the higher its “sneakiness level’, allowing for more relative $BRIBE to be earned. The higher the “sneakiness level”, the higher its rarity and earning potential over the long run, increasing its ability to fetch a higher premium on the open market.
$BRIBE
$BRIBE represents the latest incorporation to the Tri-Token Tokenomics on Police & Thief game. All 42,925 Thief NFTs can earn $BRIBE as long as they are staked. Police NFTs will earn a proportion of the $BRIBE earned by each Thief NFT.
Token name: $BRIBE
Contract address: TBA
$LOOT
Moving from an inflationary to a finite and deflationary token.
Previously the inflationary reward token for the Police & Thief Game ecosystem, $LOOT will now transform into a finite and deflationary token in this transition to Phase 2. All 42,925 Thief NFTs can now utilize $LOOT to increase their “sneakiness level”. All used $LOOT is immediately and permanently burned and the only way to earn more $LOOT is through the staking of $BRIBE (either through single staking or through liquidity provision pairs such as BRIBE/AVAX).
The maximum amount of $LOOT that can be earned in Phase 2 through the staking of $BRIBE is 2,000,000,000 LOOT, following which no new $LOOT will be emitted. This ensures that $LOOT is finite and deflationary following hitting the maximum $LOOT cap. The race is on to see who can produce the sneakiest Thief of them all!
Token name: $LOOT
Contract address: 0x7f041ce89A2079873693207653b24C15B5e6A293
A Step by Step Guide
1. Stake your NFT, earn $BRIBE
To start earning $BRIBE, your Thief NFT first needs to be staked. This can be done at https://policeandthief.game/. Once staked, Thief NFTs will start earning $BRIBE, which are claimable at any time. For owners of Police NFTs, all you will have to do is also stake them to start earning a proportion of the $BRIBE earned by each Thief NFT!
2. Stake your $BRIBE to earn $LOOT
After your Thief NFT has earned $BRIBE, simply claim and start staking $BRIBE to earn $LOOT. There will be two options available; single-sided staking and $BRIBE-LP. Of course, the more $BRIBE you stake, the more $LOOT you will earn. However, it is important to note that those staking in the $BRIBE-LP will earn $LOOT at a much higher rate per $BRIBE staked. $LOOT will be claimable at any time.
There are no lock-in periods for $BRIBE and you are free to unstake your $BRIBE at any time. However, these are delicate situations that need to be managed to ensure $BRIBE escapes the watchful eyes of the authorities safely and hence will be subject to a “breakage fee”. This acts as an incentive for $BRIBE to remain staked, while permanently burning all $BRIBE received from unstaking. This has been designed to create a win-win situation for both $BRIBE holders and Police & Thief NFT holders.
For those looking to be the sneakiest Thief among Thieves, there will also be an option to burn your $BRIBE in a direct swap for $LOOT at a designated ratio. Do note however that there is a hard-cap on $LOOT, meaning yes, it will run out. At some stage, it will become untenable or too expensive to make your Thief more sneaky. The race is definitely on to get your Thief as sneaky as possible!
3. Use $LOOT to make your Thief NFT more “sneaky”
Finally, once you’ve claimed $LOOT, apply this on your Thief NFT to increase its “sneakiness level”, allowing it to earn more $BRIBE. Once you have sufficient $LOOT to increase the “sneakiness level” of your Thief NFT, this will be written straight to its metadata, increasing its “sneakiness level” by +1.
As with all hierarchical structures in the modern day, it inevitably gets more and more difficult to level up as you move higher up the hierarchical ladder. The more sneaky your Thief NFT gets, the more $LOOT it will need to level up moving forward, and thus the time it takes to utilize the $LOOT to become more sneaky also increases. For those of you that are impatient or those that want to outpace your competition, fret not, there will also be a skip button in the future where you’ll be able to skip the waiting time through increased utilization of $BRIBE.
