Prioritizing Compliance, Elevating Rewards: The Founder Era Unveiled!
Hello, Founder Holders!
The PlayerMint team is excited to say the Founder Era will begin on August 23rd! During the Founder Era, Green & Purple Founder NFT holders will have exclusive token-gated access to earn PMX via playing Fortnite. Additionally, a supply of 10,000,000 PMX will be assigned to Founder holders to obtain in various ways over time.
The team has worked rigorously over the past few years to bring the Cardano community the best possible “play—earn—trade” experience; balancing R&D in tokenomics, law, engineering, and user testing. The most recent major development in our R&D stems from the recent SEC vs Ripple court decision, which provides the highest clarity to date on when crypto-assets are or are not to be considered securities in the US. The ruling was very positive for the entire crypto industry, resulting in XRP itself being deemed not to be a security. While details of the ruling will continue to be debated, the judge’s ruling and thought process in the 34-page document provides the law of the land for the foreseeable future.
The PlayerMint team is taking every possible step to ensure the community of PMX players is protected and compliant so that the ecosystem can grow in a healthy and fun manner. In the name of that pursuit, we have restructured some token launch details to work with the clarity provided by the SEC vs Ripple ruling on XRP.
Originally, a sale of 10,000,000 PMX, token gated to Founder NFT holders was to be conducted. Rather than conduct a large token sale, a pool of 10,000,000 PMX will be assigned to Founder NFT holders to obtain in ways without needing to purchase. First, during the Founder Era, an airdrop of 500 PMX per NFT will occur as a thank-you to everyone that has supported us on this journey! 500 PMX x 7,000 NFTs = 3.5m or 35% of the 10m Founder supply. Second, a referral system is being constructed to enable Founder NFT holders to earn PMX for referring users to join PlayerMint.com. 100 PMX will be earned for any referral that results in the newly referred user claiming PMX at least once. We are exploring adding additional referral rewards for other protocol interactions such as a marketplace purchase. Their rewards will be claimable by the Founder NFT holder. 5m tokens are assigned to the Founder referral program or 50%. Third, A portion of 1.5 million PMX tokens, equivalent to 15% of the total supply, has been allocated for the exclusive benefit of Founder NFT holders. This allocation will fuel a series of captivating events tailored to our community, including electrifying Fortnite gaming tournaments, strategic poker matches, cerebral chess battles, and an assortment of other enjoyable and interactive activities.
Founder NFT holder allocation: 10m PMX
We are very excited to conduct a fair token launch that benefits Founder NFT holders over an extended period of time and complies with US token laws. As always, Founder NFT holders will be the first to earn PMX from gameplay performance as earning will be Founder NFT gated at the main-net launch on August 23rd! PMX will be purchasable on the secondary market via DEXs.
General tokenomic information
Players connect their Nami wallet and link their Epic Games via Epic Online Services OAuth to begin earning PMX and trading digital assets. XP is earned while playing and used to rank players on the PlayerMint leaderboard. This determines the amount of PMX each wallet earns at the end of each epoch (5 days). Only PMX rewards claimed by players enter circulation. Players can obtain a Pro account by holding 10,000 PMX or a Purple Founder in their connected wallet, which boosts XP generation by 20% creating a stake-to-play model. XP determines leaderboard placement which determines PMX rewards The PlayerMint Digital Asset Marketplace, “D.A.M” enables both minting and swapping of digital assets using PMX.
Total Supply Breakdown
Explaining supply update
In order to turn what was previously a 10,000,000 PMX supply allocated for a token sale into a dedicated Founder supply of the same 10,000,000 PMX, slight changes were needed to be made to the overall PMX supply chart. The team supply was increased from 5,081,250 to 10,556,250 or 9.17% of the total max supply. In order to accomplish this without any major tokenomic change, what was previously year 5 ( 75,000 PMX per epoch & 5,475,000 year total) has been moved to the team supply.
Conclusion
On behalf of the entire PlayerMint team, thank you to everyone that has supported the PlayerMint mission and helped bring the ecosystem to life! We could not be more excited to bring fun and enjoyment to the Cardano ecosystem. The mission does not stop here but the Founder Era marks the biggest accomplishment to date and the culmination of years of diligent work to make this a reality. Congratulations to everyone!
If you’d like to stay up to date on all things PlayerMint you can check out our website, Twitter, or Discord. We are always happy to answer questions!
If you’d like to join in the Founder Era fun check out our Green and Purple Founder NFTs!
- PlayerMint Team 💚💜
