GAME will be an innovator in the gaming industry by providing several modular and customizable mechanisms for the easy development of distributed games.
Community governance will be essential to make such a progressive and adaptive protocol work.
The fact that nearly every element of the protocol can be upgraded as needed is critical to ensuring that GAME continues to be an innovative distributed gaming platform.
Stakeholders have the duty to cooperate in the voting and planning for implementing new features of the protocol.
The governance of this community will make it possible to fine-tune quickly for existing parameters such as marketplace’s fee, staking rewards, and incentives in our trading platform.
Governance is also a very important process that determines the direction of the protocol’s core token economics.
In addition, the community can submit proposals for modifications to the token model after the mainnet launch, which can be changed by voting. Such proactive proposals are encouraged in DAO (Decentralized Autonomous Organization), and the meaningful discussions that emerge are positive for the community as a whole. In the future, as new innovations are brought to the platform, the token economics at the core of the system will need to adapt as well, through active discussion.
At this moment, the initial token distribution model is critical to make this happen.
In this article, we introduce a genesis token model, where $GAME, the native token of the GAME Hub, is considered to best fit the strategic direction of the protocol.
Genesis Token Model
GAME Hub will set aside $200 million GAME at the mainnet launch and distribute it to ICO participants, Incentivized Testnet participants, Atom Holders, Founder Team, GAME Foundation, Private Delegator to GAME Validator in Cosmos Hub, Strategic Reserve, and the Community Pool in proportion to the percentages set forth below.
Details about each are as follows.
ICO Holder 35%
The $70 million GAME, or 35% of the Genesis Token Share, will be distributed to participants in the 2017 ICO. At the time of the mainnet launch, ICO participants will be able to swap the ERC-20 $MLD they received during the ICO for $GAME.
Details on the swap process will be announced at a later date.
Airdrop to Atom Holder 1%
In order to increase awareness of the GAME Product, Cosmos Hub will be offering an Airdrop of $2,000,000 GAME (1% of the Genesis Token Share) to members who have secured their network through staking.
More details about Airdrop will be announced later.
Lockdrop to Ethereum Community 1%
In order to increase awareness of the GAME Product, we will be offering a lockdrop of $2,000,000 GAME (1% of the Genesis token share) to anyone who locks $ETH into a Smart Contract.
More details about Lockdrop will be announced later.
Participants of Incentivized Testnet 1%
The $2,000,000 GAME, or 1% of the Genesis Token Share, will be distributed to community members who help with the final testing before the mainnet launch. These members are potential validators who will be crucial to the smooth operation of the GAME Hub in the future.
(A validator is an entity that runs a node that participates in the chain’s consensus. At the time of genesis, there are 100 slots for validators, in order of stake volume.)
Validator Reward 2%
In the future, validators will need to do more work with GAME Hub upgrades such as Salamander, Undine, Sylph, and Gnome. Validators who successfully complete these upgrades and maintain stable nodes will receive 2% of the Genesis token share, or $4 million GAME.
These incentives will help ensure the stable operation of the GAME Hub.
Founder Team 10%
The Founder Team, which has been driving the project since its inception, will receive 10% of the Genesis Token Share, or $20 million GAME. The Founder Team will have the right to participate in the governance of the project, but will be locked out of any sale until “The GAME Roadmap 1.0” is completed.
GAME Foundation 15%
The GAME Foundation will receive 15% of the Genesis token share of $30 million GAME. The GAME Foundation will have the right to participate in the governance of the project, but will be locked out of any sale until “The GAME Roadmap 1.0” is completed.
Developer Vesting 5%
Developers will receive 5% of the Genesis token share, or $10 million GAME. Developers will have the right to participate in the governance of the project, but will be locked out of any sale until “The GAME Roadmap 1.0” is completed.
Private Delegator of GAME Validator in Cosmos Hub 10%
Private Delegator of GAME Validator in Cosmos Hub 10% of the Genesis Token Share of $20 million GAME will be distributed to private delegators who have staked $ATOM in the GAME Validator. This will be distributed to private delegators who have contributed to the increase in Cosmos Validator rankings, which is critical to the visibility of GAME Products in the Cosmos Ecosystem.
These members are also investors and potential $GAME Holders who can help make the GAME Ecosystem more robust.
(A delegator is a person who delegates his tokens to a validator, who then uses the tokens to increase the risk of his own fraud. Since the delegator must also take responsibility for the validator’s fraud, the delegator closely observes the validator and selects a high quality validator. As the entity responsible for participating in the governance of such a chain, the delegator plays an equally important role in the network as the validator).
This distributionThe snapshot to this distribution to the private delegator has already been taken.
This allocation has already been carried out and general delegators are not eligible to receive.
Strategic Reserve 10%
A strategic reserve of $20 million, or 10% of the Genesis token share, will be allocated to the strategic reserve. The $GAME allocated to the strategic reserve will initially be managed by a multi-sig DAO composed of members of the development team, but will be more decentralized in the future.
This strategic reserve is intended to align key long-term strategic partners to advance the GAME project through grants and strategic funding rounds.
The strategic reserve of $GAME will not be used for direct market sales, but will be used to target developers, large VCs, and marketers for community development.
The tokens distributed in this way will be subject to gradual lock restrictions to prevent market disruptions caused by sudden sales.
The funds raised by the DAO will be used for the development of the GAME Hub.
Depending on the decision of the multisig members, the strategic reserve may also be used for other purposes, ranging from operating infrastructure such as Explorer and Relayer, to providing open source tools and resources necessary for the ecosystem, as well as delegating some of the best validators to support the smooth operation of the GAME Hub.
In doing so, in order to maintain the decentralization of the network, the Strategic Reserve/DAO will not “over-stake” any particular validator in favor of a particular validator to have a dominant share of the network.
Community Pool 10%
The Community Pool will receive 10% of the token share, or 20 million $GAME. The distributed $GAME will be sent directly to the Community Pool. The $GAME in this pool can only be moved through the governance of the GAME Hub.
The $GAME in the Community Pool should be used to improve and promote the GAME Ecosystem.
The community is expected to leverage this pool starting after the mainnet launch to ensure rapid access to useful tools, infrastructure, educational content, and other resources.
Community members are encouraged to actively discuss and suggest new areas of focus where the community pool should be utilized to promote the long-term success of GAME.
Initial Circulating Token Ratio
Founder Team, GAME Foundation, and Developer Vesting will be locked until Roadmap 1.0 is complete. The Strategic Reserve and Community Pool will not be distributed at the time of the mainnet launch, but will be distributed as the ecosystem expands. The initial distribution of $GAME will be as follows:
Summary
The token model described in this article has been created with comprehensive consideration of the incentives for key stakeholders and contributors for the permanent prosperity of the GAME Ecosystem.
However, the token model will change over time to meet the needs of the time and the governance.
GAME owners are empowered to propose changes to the chain’s token model as needed to embody their vision for the platform.
All game enthusiasts will be able to create, run, develop, and play their own games. Let’s work together to make this autonomous, decentralized product the ideal platform for all gaming enthusiasts.
The main net launch of GAME Hub is scheduled for October 2021.
We look forward to seeing you there!
To join the community, please use Discord.
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Recruitment
Cosmos Gaming Hub is currently recruiting members of engineers who can develop original blockchain using Cosmos-SDK. Please feel free to contact us at Twitter if you are interested.
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Cosmos Gaming Hub Project(Former MOLD project)
Co-Founder Takumi Asano / 朝野 巧己 (ｱｻﾉﾀｸﾐ)
For all game enthusiasts
