🪙Token Utility

Disclaimer: This litepapper should be considered a work in progress and can be updated without further notice

Overview

Near Kingdoms Gems is a utility token that is used in the Near Kingdoms mobile game.

The primary purpose of the Gems is to serve as an in-game currency that players need to spend whenever they want to mint a new asset to the blockchain, make a primary sale purchase, or vote on important game decisions.

Where Token is Used

• In-game Actions:

  • City Level Upgrading

  • Uniting (Joining several generals of the same rarity level to create one general of a higher rarity level)

  • Creating NFT Generals

  • General Level Upgrading by earning enough experience

  • Commander skill learning

  • Special item purchases, such as teleports, city defense, and others

  • Resource storage expansion

  • Guild creation

  • And so on

When precious stones are consumed for any operations, 70% of them are burned, 30% are returned to the reward pool. The cost of Gems for minting a specific NFT will increase with each minted NFT, which will stimulate earlier use of precious stones and serve as a mechanism for regulating asset supply and avoiding flooding scenarios.

20% of the commission received by the developer from secondary sales between players is sent to the token liquidity pool.

Decentralized Token Management: Token holders will be able to vote on proposals related to tokens through decentralized management. Proposals will include topics such as token reserve distribution, activation of daily rewards, and changes in token supply. Other categories of proposals may be added through appropriate decentralized management processes. Our goal is to constantly increase the utility and decentralization of the token through user voting.

Submitting Proposals: To submit a voting proposal, a person must have a certain threshold of tokens that will be determined later. The fund has the right to propose voting items that are considered positive for the ecosystem as a whole and will be executed if they receive enough votes.

This game economy is designed to create a balance between the supply of assets, player actions, and community participation in decision-making through the use of a token and decentralized management. This allows for a more engaging and dynamic gameplay experience for players.

Methods of obtaining token

• From Chests: One of the most profitable rewards that a player can receive from opening a chest.

• Global events: High positions in the tournament table provide excellent bonuses in the form of coins.

• Watch and Earn: Viewing advertisements is an optional but also rewarding option.

• Sell: Selling NFTs that you created in the game

• Completing Daily and Weekly Quests: This type of activity will also reward the player.

Methods of Token Burning:

• Burning for City/General level-up 5/10/15/25/30

• Burning for upgrading items

• Burning for creating unique items

• Burning to buy unique items

• And so on. Many actions in the game lead to token burning, which in turn leads to a reduction in its circulating supply.