Token Utility & Economics — LVS
Before you knew it, we are back with the second part of our token system at Ankots of Misteria. Seems like just yesterday that the team of AoM had started planning about the game. Today, we are going to achieve another major milestone before we finally launch the tokens for you Tamers.
As the title goes, Exploring Misteria’s Tokenomics — Love Spirits will shed light on the other token in Ankots of Misteria, the Love Spirits. Unlike ANKT, LVS are unlimited and the utility of the game’s token ecosystem.
Love Spirits | LVS
LVS is the secondary token in Ankots of Misteria and a key part of the summoning mechanic in the game — LVS is necessary for the creation of new, unique Ankots. As Ankots themselves are NFTs and can be sold on the marketplace, LVS can be indirectly utilized to earn ANKT by players. Besides this, LVS can also be sold directly in the marketplace in exchange for ANKT, increasing the inherent value of LVS.
LVS can be crafted within the game through the active collection and combining of resources called Spirits, which can be found across the world. This ultimately incentivizes active and recurring participation on the part of the Tamers that want to earn value. For this reason, the game has no set ceiling or upper limit for the issuance of tokens of LVS.
LVS will have collectible value linked to ANKT and primarily be used in order to facilitate in-game functionalities. Through the active collection and combining of resources called Spirits within the game, a new unique Spirit can be crafted. Spirits can be found scattered all across the world of Misteria. After gathering a total of 16 Spirits, Tamers can approach the in-game ‘Shrine’ and cleanse the Spirits at the cost of 1 ANKT. The cleansing grants players with a unique Spirit, which is an LVS.
In-game Token Consumption
Apart from the few primary virtues of LVS mentioned above, the token will be consumed for certain in-game actions and activities.
Purchase Extra Energy
Each Ankot Tamer will have limited energy for the battles in AoM. Sooner or later, that energy will exhaust. In order to continue battling, LVS can be used to purchase additional energy.
Enter PVP (Normal)
Players can use the LVS to casually play or practice for the battles without affecting their ranking.
Breed the Ankots
Tamers will need both ANKT and LVS in order to breed their Ankots. A particular Ankot can be bred a maximum of 7 times. Thus, with each level, a higher amount of LVS will be required in order to successfully breed an Ankot.
Players will have an option to buy Stones, Spirits, etc., from other players using LVS at the in-game exchange. These transactions will attract a certain amount of LVS as taxes as well.
Players can craft Orbs using LVS. Similar to breeding, the higher the level of the orb, the higher the amount of LVS to be spent will be.
Finally, players can also use the LVS to enhance their orbs. The higher number of times they enhance the orb, the more amount of LVS will be consumed. However, this rate shall increase exponentially.
We at Ankots of Misteria have adopted a process through which all the LVS accumulated back will be destroyed forever. This process is better known in the crypto world as token burning. Through the implementation of token burning, a particular set of tokens are effectively taken out of the loop of the ecosystem or network, removing them permanently. To achieve this, we will send the tokens received to a crypto wallet, the private keys of which will be unknown and unobtainable. This transaction will permanently take the particular tokens out of circulation of the network once it is confirmed on the blockchain ledger.
As per the basic rule of supply and demand in economics, if the supply of something reduces, the price elevates consequently, assuming that demand remains constant. Token-burning plays a similar role.
Since LVS has unlimited quantity in AoM, we aim to manage the supply of the token and create scarcity through token burning. On the other hand, an abundance of LVS in the network will, ultimately, affect the value of ANKT too, which is capped at just 700 million tokens. Are you wondering how? It is because Ankot Tamers will be able to convert their LVS tokens to ANKT through the different ways in AoM. Token burning will determine that the value and demand of LVS doesn’t drop or affect the value of ANKT as well.
Did you miss our previous blog on ANKT? No worries. We’ve got your back, fellow Tamers! You can read all about ANKT at https://medium.com/ankots-of-misteria/token-utility-economics-ankt-565d58c080d1.
Now that you’re aware of both ANKTs and LVS, you are well-equipped for AoM’s in-game tokens release, which will be here very soon. Your patience has begun to pay dividends, because just the final touchups remain, and, soon, we will be upon the release date of our marketplace too!
As always, incase you aren’t already following our social handles, do so because tonnes of content comes up every week! Boy, you wouldn’t want to miss that. Alongside that, sign up to our newsletter to be posted about everything we do at Ankots of Misteria. Adios, fellow Tamers, and keep taming!