Published in


Details on PGFK Particles (xPGFK)

12/10/2020 Update: We have re-branded XPGP to xPGFK to allow for a more standardized nomenclature for Particle tokens within the Polyient Games Ecosystem.

We recently unveiled major details on Polyient Games Founder’s Keys (PGFKs) and the upcoming sale that will make 62.5% of the total PGFK supply (12,500/20,000) available to the public.

The response has been fantastic, as we’ve seen a large influx of pre-registrations and great early dialogue on our dedicated Discord channel.

Easily the most substantial area of interest from our initial announcement was the introduction of PGFK Particles (xPGFK), the fractional token that represents 1:1000 of a full PGFK. Based on the early questions we are receiving from the community, we want to provide more insights into what xPGFKs are and how they will change the way we interact with NFTs.

What are xPGFKs?

In short, xPGFKs are the fractional unit that makes up the PGFK. We are introducing xPGFKs to solve the issues inherent to the NFT asset class, namely the lack of liquidity that hinders mainstream crypto user adoption.

The PGFK-xPGFK combo is a first of its kind, where a digital asset exists in two simultaneous states, each with unique use cases and reward structures.

What are the token economics of xPGFKs?

The 1:1000 (PGFK:xPGFK) ratio and capped 20,000 PGFK supply means there can only ever be 20,000,000 xPGFK s in existence. The circulating supplies of xPGFKs and PGFKs will be dynamic, and all of this information will be fully trackable on-chain for transparency.

Polyient Games will be the first major provider of xPGFK liquidity for a dedicated swap protocol. This liquidity will come from our PGFK Reserve Pool, which is made up of the remaining 7,500 PGFKs not sold during the upcoming sale.

Where and how will xPGFKs be made?

xPGFKs will be the byproduct of a dedicated fractionalization functionality, called the “Particle Bridge,” that will exist within the upcoming Polyient Games Marketplace.

When a PGFK enters the Particle Bridge, 1000 xPGFKs will be minted as a result. These xPGFKs will initially follow the ERC-20 token standard and will be freely transferable across Ethereum addresses.

This functionality will support batch transfers, meaning that you can send in more than 1 PGFK at a time to receive the ratio equivalent of xPGFKs. Whenever an account accumulates 1000 xPGFKs, the account owner will have the option to send them through the Particle Bridge and convert them into a full PGFK.

What are the use cases?

In short, xPGFKs will provide all of the utility token functions within the Polyient Games Ecosystem and Marketplace. xPGFKs will be used for the following:

  • Main transactional unit for all purchases made within the Polyient Games Ecosystem platform
  • Main payment option for NFT pre-sales and auctions conducted within the Polyient Games Marketplace
  • Main trading pair for all fungible tokens listed on the Polyient Games Marketplace (Ecosystem member in-game currencies, Polyient-backed token projects, and more)

These use cases will expand with the growth and maturation of the Polyient Games Ecosystem. We are especially interested in pioneering additional decentralized finance (DeFi) use cases that can help facilitate the launch of the next generation of fungible tokens associated with NFT projects.

Why else would you want to hold xPGFKs?

In addition to its utility as a platform token, xPGFKs will offer unique reward structures not available to PGFK holders.

The Polyient Games Marketplace will be built around decentralized technologies that enable non-custodial trading functionality. With this structure, we are opening the door for a decentralized liquidity pool system where users can fractionalize their PGFK holdings to provide liquidity for xPGFK swap protocols.

In exchange for this liquidity, xPGFK holders will gain a percentage of the transaction fees for each swap they participate in, proportionate to the weight of their contribution in relation to the total pool’s liquidity.

For example, consider an xPGFK holder that wants to provide liquidity to the xPGFK-ETH swap. For simplicity, let’s say that the total amount of xPGFK in the pool is 1,000 and the holder in this scenario provided 100 xPGFK.

This means that the holder will earn 10% of the transaction fees that are allocated to the liquidity pool providers. The current transaction fee system is not yet public and is being developed with gas fee considerations in mind.

This hypothetical is a very simple example of a liquidity pool fee share structure and there have been advancements in this domain that we are actively considering. Overall, this reward incentive is essential to facilitate liquidity for each decentralized trading pair we launch, as xPGFK’s supply will be highly distributed.

What are the trade-offs between PGFKs and xPGFKs?

In order for fractional NFT tokens to hold value, there needs to be a healthy trade-off of use cases between NFT and NFT fraction.

When a user holds xPGFKs within the Polyient Games Ecosystem, they will gain access to the aforementioned use cases and rewards. Notably, these rewards are not extended to holders of PGFKs and vice versa.

If you hold PGFKs, you will gain a number of lifetime rewards and perks (discussed here), but will not be able to trade xPGFKs for in-game currencies, earn liquidity pool rewards, etc. This trade-off will provide a gamified financial experience unlike anything on the market today.

How is Polyient Games addressing network scalability?

Given the current Ethereum network limitations, we are actively planning paths to adopt either a layer-2 or a similar solution to reduce fees and congestion pain points. The end result will include a combination of partner technology and internal innovation.

When can I gain access to xPGFKs?

We are currently aiming for Q4 2020 to launch the first beta of the Polyient Games Marketplace, which will include the dedicated xPGFK swap protocol.

Access to the Polyient Games Marketplace will only be available to PGFK holders to start and that access will be staggered based on the number of PGFKs held by each wallet. The more a user stacks during the upcoming sale, the higher their priority access.

Please note, all dates are subject to change. All updates will be published across our various social channels.



Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store