PolyientX
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PolyientX

PGFK Generations and Reward Vaults

The Polyient Games Founder’s Key (PGFK) is a first of a kind dual-state digital asset that exists both in a non-fungible and fungible state.

The fungible state is known as PGFK Particles (xPGFK) and these tokens represent a 1:1000 fractional ratio of the PGFK.

Creating xPGFKs from PGFKs is as simple as sending them through the Particle Bridge, a custom smart contract developed by Polyient Games that enables users to automatically fractionalize their holdings. You can send as many PGFKs as you’d like, at the same time, through the Particle Bridge, enabling substantial fee savings vs traditional NFT transactions.

Similarly, users who hold at least 1,000 xPGFKs will be able to interact with the Particle Bridge and convert their holdings into PGFKs.

We first introduced these tokenomic concepts with the intention to continuously iterate on the model to produce a self-sufficient system that leverages the future Polyient Games DAO to drive protocol-level decisions.

Today, we’d like to introduce the next step in this model: PGFK Generations.

We are going to leverage on-chain data to establish identity segmentation for PGFKs. This segmentation will be tied to the order by which PGFKs were minted, meaning that the Particle Bridge will function to, not only allow for the PGFK<>xPGFK conversion, but also set generation thresholds for newly minted PGFKs.

The initial 20K supply of PGFKs minted for the Sale Supply and Reserve Supply are now considered Gen0 PGFKs. These are Genesis PGFKs that will forever be tied to the initial days of Polyient Games and our earliest PGFK Members and supporters.

Gen0 = 1–20,000

Gen1 = 20,001–100,000

Gen2 = 100,001–1,000,000

Gen3 = 1,000,001–10,000,000

… and so on.

Note: There will only ever be 20K PGFKs across all generations. These integers represent that identity & order by which a PGFK is minted. The 1:1000 relationship between PGFK and xPGFK will forever be preserved.

This means that the first time 1,000 xPGFK is sent through the Particle Bridge, Gen1 PGFKs will be minted. Given the liquid incentives on the xPGFK side, the demand for transition will drive a truly deflationary supply dynamic for Gen0 PGFKs and each subsequent generation thereafter.

Starting with Gen1 PGFKs, we will leverage a combo of on-chain data and rich metadata to allow for easy identification of each generation across Polyient and third-party applications.

Gen0’s metadata and on-chain status will be forever preserved, providing a clear identifier as the initial distribution generation.

With the new PGFK generation system, we are also introducing generations of xPGFKs to allow for the proper continuation of the 1:1000 relationship with PGFKs.

Once the first PGFK is sent through the Particle Bridge, the first Gen0 xPGFKs is minted. Similar to Gen0 PGFKs, these represent the tokens associated with the Genesis period of the Polyient Games Ecosystem.

Therefore:

Gen0 PGFK = Gen0 xPGFK

Gen1 PGFK = Gen1 xPGFK

Gen2 PGFK = Gen2 xPGFK

Gen3 PGFK = Gen3 xPGFK

… and so on.

The first time that a Gen1 PGFK is eventually sent back through the Particle Bridge, the first Gen1 xPGFK will be released. We are currently working on a liquidity mechanism to incentivize users to make the swap between generation gap points to allow for continued PG DEX and PGFK reward activity.

This means that instead of there being a single xPGFK base pair on the PG DEX, we will be supporting swap markets for each generation of xPGFK.

This becomes especially interesting when supply dynamics across generations are combined with Generation-based reward outcomes, detailed below.

Expanding upon our initial reward structure of stacking PGFKs, we are introducing a new concept of PGFK Vaults.

PGFK Vaults will be a primary system where users can earn yield off of their holdings by locking their PGFKs into smart contracts. The yield sources will be a combination of third-party partner token distributions and Polyient Games-specific rewards.

This mechanism will feature both direct batched PGFK lock-ups, as well as embedded token lock-ups that will loop in LP tokens for various supported pairs on the Polyient Games DEX, further incentivizing interaction with the Particle Bridge.

This updated mechanism works to reward users for:

  1. The number of PGFKs they hold
  2. The generation of their PGFKs

As always, the more PGFKs you stack, the better the reward outcomes. This is especially true as we will begin conducting chance-based token drops facilitated by Chainlink VRF technology. Read more about our collaboration here.

For non-chance based rewards, the yield outcomes for locking PGFKs inside of Vaults or locking LP tokens inside PGFKs will be directly determined by the PGFK’s generation. Earlier generations will have higher yields with Gen0 providing the largest reward outcomes.

This system ultimately makes the PGFK into a token distribution vehicle where its non-fungibility via generations enables a robust gamified reward experience. We are planning a number of initial yield opportunities, especially as the PG DEX gets off the ground with major liquidity.

Ultimately, we aim to phase out our control of the reward outcomes associated with PGFK generations and offload responsibilities to the Polyient Games DAO, which will be fueled by the Polyient Games Governance Token (PGT). PGT is being dropped 1:1 to PGFK holders following the PGFK sale.

We’re going to be introducing official documentation that will act as our source of truth. This will allow us to rely less heavily on Medium content as an education tool and enable for more rapid updates around our quickly expanding and evolving ecosystem.

Polyient Games is focused on non-fungible token (NFT) asset class and decentralized finance (DeFi). Driven by a third-party startup ecosystem that features a unique token economy, Polyient Games aims to facilitate the next wave of NFT use cases and adoption among traditional cryptocurrency markets.

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