The economic model is one of the pillars on which the success of any Web3 game rests, so we paid maximum attention to ensure that it will work properly, yet be user-friendly and simple.
The core idea is that the Wormfare Economics Model is aimed at that players don’t just amass rewards. They actively contribute to the betterment of society through our quests system, a feature unparalleled in play-to-earn games.
Our Economics Model is built on the foundation of Motivated Staking and Revenue. In this article, we will tell you what lies behind these concepts.
Motivated Staking
Motivated staking, as implemented in the Quest-To-Earn mechanism with $WOFR tokens is an innovative approach to earning in cryptocurrency.
The key aspects of Wormfare Motivated Staking:
- Staking Requirements
Users must stake WOFR tokens, with a minimum of $10 and a maximum limit of $25,000.
- Base Annual Percentage Yield (APY)
The starting APY is set at 15%. This is the basic return rate on the staked amount.
- Quest Completion for Enhanced APY
The unique feature is the conversion of user productivity into increased APY. By completing quests, users can boost their APY.
- Dynamic APY Based on Activity
The APY can soar up to a maximum of 500%. To maintain or elevate their APY, users must complete at least 30% of the daily quests. They are failing to do so resulting in a decrease in APY.
- Daily APY Adjustment
APY is recalculated daily, following the reward distribution. The maximum increase in APY per day is capped at 2.5%, dependent on the user’s daily quest performance.
- APY Limits
The system ensures that APY remains within a defined range — it cannot drop below 15% or exceed 500%.
This system effectively combines staking with active user engagement, linking the profitability of staking directly with the users’ involvement in completing quests. This approach incentivizes active participation, that will lead to a more vibrant and engaged community within the ecosystem.
Revenue Model
Wormfare is an innovative platform for gaming enthusiasts, providing unique opportunities to participate in user tournaments, duels, p2p trading, and in-game purchases.
- User Tournaments
Wormfare will allow players to create user tournaments with prize pools, charging a fee from the prize pool. This incentivizes participation and competition among players.
- Duels
Players can engage in duels with each other, with lower-ranked players able to challenge higher-ranked players. A fee will be charged from the prize pool, encouraging players to compete and improve their skills.
- P2P Trading
Wormfare will facilitate peer-to-peer trading of in-game assets, imposing a 5% fee on all transactions. This includes various trading mechanics like direct trades and auctions, providing liquidity to the marketplace while generating revenue for the platform.
- In-game Purchases
Players will have the option to purchase exclusive in-game assets such as unique skins and experience boosters. These purchases will generate revenue directly for the platform while offering players opportunities for customization and enhancement of their gaming experience.
- Advertising and Sponsorship Opportunities
Our innovative social quest system is designed to enhance self-promotion and create significant network effects. We offer tailored paid advertising solutions that are ideal for our partners and sponsors, enabling them to expand their reach and visibility effectively.
These revenue sources will contribute to the sustainability and growth of Wormfare by funding player rewards, team compensation, ongoing project development, and overall platform expansion.
We are not going to stop there and as the project develops new opportunities for players to generate income will be introduced. In the meantime, we have a token listing and game release ahead of us. Subscribe to our social networks to keep up with the news and be the first to know about upcoming announcements.
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Best!
Wormfare team.
