[ANN] Proposal for Game Tokenomics Update — Full Transition to gMBXL

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MARBLEX

9 min readMay 21, 2024

MARBLEX hereby proposes the complete transition to a single, comprehensive game token called MBX Game Token (gMBXL). This proposal aims to improve user convenience and enhance the competitiveness of the ecosystem’s governance token, MBX, by departing from the original system where each game operated under independent game token systems.

▶ MARBLEX Tokenomics Status

Currently there are 4 types of game tokens that exist within 4 different games in the MARBLEX game ecosystem.

The current game tokenomics has been structured and operated based on the following fundamental principles.

A. Ease of use and Convenience: Game tokens are freely transferable in the service chains, enabling users to comfortably move them between one game to another within such chains.

B. Flexibility: Game tokens offer flexibility, allowing a single type of token to be connected to multiple games, and multiple tokens to be connected to a single game. Such flexibility represents one of the solutions to preserve the value of individual game tokens, while scalability will ultimately contribute to preserving the growth value of entire ecosystems, including the MBX token.

C. Independence: A token economy is established based on the distinct identity of each game, and to this end, every game token is operated independently.

In the early stages of the ecosystem when game tokens were first introduced, MARBLEX mainly focused on constructing and operating independent token economies for each game. These economies were tailored to align with each game’s characteristics, including factors like genres, target users, etc. This framework was instrumental in shaping the foundation of our tokenomics.

After two years of extensive experience operating these tokenomics, MARBLEX successfully achieved the initial goal; creating independent ecosystems based on each game’s characteristics. However, there were areas for improvement deemed necessary to further enhance the ecosystem’s top priority, which includes activation, expanding token utility, and improving user convenience.

▶ Proposal Summary and Expectations

Within the framework of our core values, our goal is to reform our tokenomics by improving potential weaknesses, while also leveraging the strengths of the existing structure of individual game tokens. Specifically, this involves securing user convenience through seamless transfer of game tokens between games and preserving the value growth of the ecosystem by ensuring the flexibility and scalability of game tokens.

Through this process, MARBLEX proposes the consolidation of all game tokens into gMBXL enabling direct utilization of MBX tokens within games.

■ Game Token Consolidation: gMBXL

MBX Game Token (gMBXL) has a 1:1 exchange rate with MBXL and is directly linked to the games serviced within the MBX ecosystem, and aims to enhance in-game tokenomics.
In order to strengthen tokenomics, gMBXL utilized by each game will be initially supplied in a limited amount. Ecosystem contributors (such as developers, publishers, etc.) will enhance in-game tokenomics to promote user consumption of tokens within the in-game ecosystem and ensure a seamless tokenomics operation. As this process is repeated and gMBXL usage increases, a more sustainable ecosystem can be formed due to the virtuous cycle.

The positive expectations from the game token consolidation are as follows.

1. Value consolidation by merging into MBX

Improving tokenomics through value consolidation
The split user demand for individual game tokens will be consolidated into MBX tokens. Since the genesis of the MBX ecosystem, over $11 million worth of game tokens were used within games. By combining the split demand for individual game tokens into one single game token, gMBXL, we aim to establish an even sturdier tokenomics.
Aligning common interest through value consolidation
The common interests of ecosystem participants will also be aligned toward MBX tokens. Departing from the existing game token system, where each game token has its own ecosystem, ecosystem participants will share a common goal of vitalizing and stabilizing the MBX token economy.

2. Streamlining user convenience

More intuitive token value
Enables users to intuitively grasp the current value of game tokens. In contrast to the past reliance on exchange rates for indirectly assessing the value of game tokens, users can now efficiently and intuitively evaluate the value of gMBXL without the burden of slippage. This change aims to offer gMBXL holders more meaningful information to guide their ownership decisions.
Economic feasibility when switching between games
Simplifies token transferability between games. In the existing game token system, users encountered exchange fees when trading game tokens with another. The advantage of using a single game token is that it eliminates the necessity for the exchange process and associated fees.

3. Creating a more scalable and stable ecosystem

Stability of onboarding new games
The process of onboarding new games becomes more stable and streamlined. The MBX ecosystem has matured enough to offer stable integration with new games directly, with the support of our native blockchain Dapp services, including NFT-related functionalities. With gMBXL tokens, we expect it will be possible to onboard games onto a more stable tokenomics, as our mature ecosystem has made it more difficult for one single game to determine MBX token values.
Expanding user pools
Facilitates the sharing of user pools between games. While diversity was a positive aspect under the existing game token system, using different game tokens between games often created psychological barriers and procedural hindrances. As a result, users faced challenges switching between games, even if they were part of the same MARBLEX ecosystem. Transitioning to gMBXL, we expect the lowered entry barrier will increase user acquisition for each game, thereby expanding the user pool and create a more active ecosystem.

*Please note that the expectations mentioned above do not guarantee an increase in the prices of the game token or MBX.

To promote the adoption of gMBXL and ensure stabilization, MARBLEX plans to provide the following support to game content providers. Through our support plan, we aim to create a foundation for more games to onboard, thereby securing diverse new content and offering a fresh user experience.

1. Providing liquidity support for initial exchange pools

To encourage the onboarding of games within the gMBXL ecosystem, we plan to provide gMBXL to support creating an exchange pool between gMBXL and in-game items. While these exchange pools are essential for maintaining the blockchain game ecosystem, sourcing such funds may be a burden for ecosystem contributors. To lower that entry barrier, MARBLEX plans to alleviate these hurdles by providing liquidity support necessary for the initial adoption of gMBXL, encouraging more games to onboard within the MBX ecosystem in the future.

2. Providing support for ecosystem stability

To actively encourage the provision of gMBXL utilization within onboarding games, a portion of gMBXL used within games will be distributed to ecosystem contributors and MARBLEX. To help stabilize the ecosystem during the early stages of adoption, while adhering to the intention of giving back to the ecosystem, MARBLEX plans to allocate a certain percentage of the total gMBXL received from users for ecosystem support.

*Details of the support system may be subject to change or reduction depending on the maturity of the ecosystem.

Here are additional updates following the transition to gMBXL.

1. The fee rates may change as follows.

For games without in-game transaction fees, a 1% fee occurs when exchanging in-game items to gMBXL. These fees are to be burned.
A 5% fee occurs when exchanging gMBXL to MBXL. These fees are to be utilized for ecosystem maintenance and expansion.
To encourage the usage of MBX tokens within games, no separate fees will occur when exchanging MBXL to gMBXL or gMBXL to game currency.

2. With the consolidation of each game token into gMBXL, the Game Token Staking service will be terminated. The funds that were previously allocated for the game token staking service will be utilized for maintaining the exchange pools with in-game items in each game.

▶ Comprehensive Game Token (GT) Outline and GT Service Termination

Upon the approval of the proposal enabling the full transition of MARBLEX game tokenomics to a comprehensive game token, the following policies will be implemented:

■ Game token service termination details

GT Swap, GT Staking termination date: July 4, 2024
GT Explorer termination date: July 18, 2024
Once the service is terminated, game tokens cannot be viewed, transferred, staked, or swapped using MBX Swap, MBX Station, or MARBLEX Wallet.
Game tokens cannot be utilized within their respective games
However, in-game currencies that can be exchanged with game tokens can be exchanged for gMBXL using MBX Station in the future.

■ Exchange rates for previous game tokens

Once GT services are terminated, all game tokens held within a user’s wallet will be converted into gMBXL according to the exchange rates provided below and airdropped to their wallet.
In order to minimize the impact of exchange rate fluctuations following the announcement of GT services termination and to ensure that users holding game tokens receive fair compensation, the exchange rate for each game token will be calculated based on the average daily exchange rate over the 30-day period (2024.04.21–2024.05.20) prior to the announcement date. Exchange rates are based on MBX Swap. If the average daily exchange rate over the 30-day period is lower than that at the time of this announcement, the latter will be applied as the exchange rate.
gMBXL exchange rate for each game token

To ensure an accurate assessment of the game tokens held, please make sure to unstake all game tokens that are being staked through MBX Swap. All staked game tokens will be automatically returned to the holder’s wallet upon service termination.
Minimum quantity eligible for airdrop: game token amount equal to 0.000001 gMBXL
*If the amount of game tokens held is less than the minimum quantity, they will NOT be converted into gMBXL and airdropped to the wallet.

gMBXL airdrop start date: July 8, 2024
The airdrop will proceed sequentially starting from the specified start date and may take up to 7 days for delivery to be completed.

▶ Voting Process

The following proposal represents a highly significant decision for the governance of MARBLEX. As such, we aim to reflect the opinions of core members of the ecosystem–the MARBLEX community–to determine the final implementation date.

All community members can participate in the voting process to voice their opinions.

Voting platform: https://snapshot.org/#/mbxvote.eth
The proposal will be revealed at MBX Space on May 27, 14:00 (UTC+9)
Voting period: May 27, 14:00 — June 3, 14:00 (UTC+9)
Voting participants: All MBX holders

Note

Voters are granted Voting Power based on the balance of MBX tokens held in the wallets they used to connect to the Snapshot platform as of May 27 at 14:00 (UTC+9). Before casting your vote, make sure to transfer the tokens to the wallet you intend to use to participate in the vote.

Please refer to the details on how to participate in the vote using the guide below.

The voting results will be announced through our official channels after the voting period is over. If the proposal is approved, all community members will be eligible to receive an airdrop of a “Memorial GT NFT” that contains their previous transaction history of game tokens as a commemorative gift.

*The image above is a sample and may not accurately represent the actual NFT.

*Users who wish to receive the “Memorial GT NFT” must import their MARBLEX Wallet to a MetaMask wallet before participating and casting their Snapshot vote.

How to import MARBLEX Wallet to Metamask

*If a user’s wallet used to vote does not have a game token transaction history, they will not receive this NFT.

*NFT delivery date: The NFT will be delivered to a user’s wallet within three months after the end of the voting period. (The delivery date may be subject to change)

As a member of the MARBLEX ecosystem, we look forward to your active participation in the upcoming vote!

Get to know MARBLEX

MARBLEX (MBX) is a game-based blockchain service company that aims to bring the highest quality blockchain games to the market by producing AAA titles. With a strong foundation and over 6,000 collaborative employees, it brings together game industry veterans and blockchain technology experts from across the globe. By offering services such as cryptocurrency wallet, De-Fi SWAP service, and a comprehensive NFT platform, MARBLEX (MBX) allows users to experience an optimal blockchain-based gaming ecosystem.

Live games under MARBLEX Service
<A3: STILL ALIVE>
<Ni no Kuni: Cross Worlds>
<The King of Fighters ARENA>
<Meta World: My City>

Upcoming games under MARBLEX Service
<Pocket Girl: Idle RPG>
<RF ONLINE NEXT>
<Stella Fantasy>

MARBLEX Official Website + Gitbook
> https://www.marblex.io/
> https://docs.marblex.io/

MARBLEX Blockchain Services
> MBX NFT : https://nft.marblex.io/
> MBX MarketPlace : https://marketplace.marblex.io/
> MBX SWAP : https://swap.marblex.io/
> MBX Station (Beta) : https://station.marblex.io/
> MBX Explorer : https://explorer.marblex.io/

MARBLEX Official Discord Link:
> https://discord.com/invite/marblexgames

MARBLEX Official Twitter:
> https://twitter.com/MARBLEXofficial

MARBLEX Official Telegram Link:
> EN: https://t.me/MARBLEX_official_ENG
> JP: https://t.me/MARBLEX_official_JP
> TH: https://t.me/MARBLEX_official_TH
> TW: https://t.me/MARBLEX_official_TC

MARBLEX Official Facebook:
> https://www.facebook.com/MARBLEXplayground

Subscribe to MARBLEX Newsletter:
> https://marblex.aweb.page/p/fcb714b0-b36e-4ef2-921b-24830a8a1e40