Feb 10, 2021
Earn ORB tokens by staking your IG Gold (IGG) in IGGalaxy!
IGLabs will be a core component of IGGalaxy that will spearhead the mainstream adoption of crypto assets for gamers.
First launched in May 2019, IGLabs currently allows IG Gold (IGG) holders to store their tokens in ‘power capsules’ for a fixed period of time. By doing so, they are then rewarded with ORB tokens!
For now, ORB tokens can be sold to IGLabs at a current rate of 5 IGG per ORB token, or held for later utility in IGGalaxy!
As for the future utility of ORB tokens, we can reveal that ORB will play the role of a governance token for IGGalaxy and will be the operational token for IGLabs.
Want to take part and start generating ORB? Here’s how!
Participate in IGLabs to start generating ORB now!
- You can access IGLabs exclusively via IGGalaxy.
- You will also need an IGWallet.
- There is a minimum requirement of 100,000 IGG and maximum of 25 million IGG tokens per IGLabs ‘power capsule’.
- Deploying a ‘power capsule’ requires a MATIC fee, which is currently estimated at around 0.0005 MATIC per capsule.
We recommend buying MATIC tokens directly via your IGWallet.
Alternatively, you can purchase MATIC on Ethereum chain from Binance and then chain swap them to Polygon or from Transak.
In the near future, Galacticans will have the ability to pay for network fees in IGGalaxy with IGG tokens.
Enter IGGalaxy
Once you’ve entered IGGalaxy, and have a wallet set up with required tokens, click the ‘Capsules’ icon as shown below.
Great; I’m in IGLabs! Now what?
This is where you can access all ‘Frozen’, ‘Ready’ and ‘Claimed’ capsules.
Remember each capsule must hold a minimum of 100,000 IGG and a maximum of 25 million IGG; but there is no limit to the number of capsules you can create.
All ‘power capsules’ are set to 30 days to maximise ORB rewards.
Things to note
- IGLabs operates on a smart contract on Polygon.
- The cost of deploying an IGLabs ‘power capsule’ costs ~0.0005 MATIC.
- The rate of ORB generated is determined by the amount and of IGG stored, which you can view prior to initiating the smart contract.
- Once the smart contract is in progress, you will not be able to unlock it until the 30-day period has passed.
- After you’ve claimed your ‘power capsule’, the IGG stored in the capsule will be returned, minus the burned amount (0.2%), and ORB will be distributed to your wallet immediately.
- ORB tokens can be sold to IGLabs at any time for IGG at a guaranteed rate of 5 IGG per ORB; 50% of all ORB is then subsequently burned from existence.
- We will provide at least three days’ notice prior to any changes to the ORB distribution rate and 30 days for any changes to the rate at which IGLabs purchases ORB tokens.
Need a hand?
Please feel free contact our support team at mailto:support@iggalaxy.com, or ask our friendly community members on Telegram or Discord if you would like extra support!
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