The Magical Metaverse of TaleCraft is a world where mystery and excitement conspire to ignite the competitive flames that burns deep within us all!
Talecraft is a universe where imaginations run wild and allow our most mythic qualities to take center stage. Rule over ancient lands and earn the amulets they contain. By leveraging the power of NFTs, the time is nigh to claim rightful ownership to what is yours as TaleCraft players emerge victorious in battle and advance!
In the simplest of terms, the goal of each player is to advance to the next level. Via a unique tokenomics system and ranked NFTs, players can reach a higher ground than their opposition by achieving game objectives.
A Game of Tokenomics
The token mechanics of TaleCraft are unique — built for players and enhanced by players in order to optimize the gaming components through earning incentives.
Each chest contains a singular card comprised of one of the four sacred elements: Air, Earth, Water or Fire.
How it works:
- Each player must deposit 10 CRAFT + .1 AVAX
- The deposit unlocks the treasure chest
- Users are granted an NFT card.
- Each card is assigned a “weight.”
- The collective weight determines category i.e. level.
- By opening more chests, users are granted additional NFT cards.
- The weight of cards can be combined.
- Cards can be combined in order to achieve higher levels.
- Combined cards will be burned.
To understand the token flow and economic model of Talecraft, the simple diagram below illustrates how deposits are assigned.
As indicated in the diagram, of the 10 CRAFT and .1 AVAX deposited —
The 10 CRAFT:
- 50% or 5 CRAFT are provided for liquidity
- The other 50% or 5 CRAFT are burnt
The .1 AVAX
- Of the .1 AVAX, 25% or .025 AVAX is added for liquidity
- 50% of the AVAX rewards NFT holders (distributed by weight)
- 25% goes into a team wallet
However, the price of 5 CRAFT typically won’t be exactly .025 AVAX — So, at the time of deposit, the AVAX-CRAFT pair price, provided by oracle partner Chainlink, will determine the ratio of CRAFT to AVAX.
If price of 5 CRAFT > .025 AVAX then:
- The .025 AVAX will be used for liquidity
- The additional CRAFT will be burnt
- In this scenario 50% of deposited CRAFT will be burnt
In the case of price appreciation, the mechanism supports the growth by continually burning 50% of deposits and adding depth to liquidity.
If the price of 5 CRAFT < .025 AVAX, then:
- 5 CRAFT worth of liquidity is provided (less than .025 AVAX).
- Leftover AVAX will market buy CRAFT and burn it.
- In this scenario more than 50% of deposited CRAFT is burnt.
Should the price of deposited CRAFT earmarked for liquidity fall below the designated .025 AVAX, two drivers come into play — market buying and burning of the CRAFT token resulting in a burn that will exceed 50% of the deposited amount.
The fact that 100% of deposited CRAFT tokens are burnt or used to provide liquidity speaks to a massive potential for both depth and deflation. It is indeed a potent system.
The Net Effects
- Liquidity is continually provided to the CRAFT-AVAX pair
- A minimum of 50% of all deposits will be burned
- 50% of all deposited AVAX is awarded to NFT holders
- 100% of deposited CRAFT tokens are burnt or used to provide liquidity
The sustainability of these tokenomics are noteworthy as there are a number of potential long-term qualitative outcomes to consider:
- Price support
- Deep liquidity
- Stimulates game play and advancement
- Scalability — undiluted rewards and accelerated burning
With a token system that continuously removes CRAFT tokens from circulation as players onboard and awards them in AVAX, the team feels poised to gain traction in the marketplace and becoming an enduring project in the ever-growing Avalanche ecosystem.
About TaleCraft
TaleCraft is a game that allows users to play games with NFTs obtained with tokens and advance to higher levels with CRAFT, distributes rewards to NFTs holders so that people are always actively involved in the project. It was created to resolve the lack of token use cases that circulate in the cryptosphere.
