4 Powerful Elements in Crypto Legions Economy
You may have seen in our recent news that the Crypto Legions pre-sale was totally sold out in minutes. Now you might be wondering how Crypto Legions can keep their economy moving forward. Let’s talk about four (4) things you should know about the Crypto Legions economy in this article!
One of the most challenging aspects of a P2E gaming economy to achieve is sustainability. What happens is the game releases its token, then the value pumps. After the victorious pump is the massive dump. Token mint ratios go out of hand, and oversupply becomes a major issue. How can Crypto Legions prevent these issues?
1. The Omni-Balanced Oracle
The team will use flexible taxation to create a sustainable gaming economy, which you seldom see in other P2E games!
Crypto Legions adopted an adjustable marketplace tax ranging from 5% to 20%. Higher taxes are levied if the Reward Pool has to be replenished, whereas lower taxes are levied if the Reward Pool grows. The hunting tax ranges from 0% to 9%. A purchase tax ranges from 0% to 2%, with the proceeds going to the Liquidity Pool. While the sale tax ranges from 0% to 20%, with adjustable percentages for each item included in the sell tax.
The game also set the following elements to be adjustable:
- Damage for legions for each hunt which is between 1% to 3%
- Summoning fee range from 9 USD to 40 USD
- Discount fee for hunting supplies for 14 and 28 days
- Values for the Claim Tax and Reinvest Tax for the Smart Claim System
- Commissions in the Referral System
2. The Smart Claim System
The Smart Claim System features “Samaritan Stars”.
What do Samaritan Stars imply in the game? The higher your Reinvest Percentage, the more Samaritan Stars you will have! These Samaritan Stars will cause you to have a lower Claim Tax and Reinvest Tax. On the other hand, the more a player cashes out, the fewer Samaritan Stars he will have, and the more he will be taxed. Those taxes, of course, contribute to boosting the economy. This system will encourage users to support the game economy to earn more benefits.
To successfully monitor your Samaritan Stars, a player should have 2 types of wallets: the Unclaimed Wallet and the Reinvest Wallet. The Unclaimed Wallet receives the rewards from hunting monsters. The funds from Unclaimed Wallet can be transferred to MetaMask Wallet or Reinvest Wallet. The Reinvest Wallet is used only for reinvesting into the game. It can be used to pay for summoning and creating/updating legions. All $BLST inside the Unclaimed Wallet and Reinvest Wallet is pegged to BUSD.
The amount of Samaritan Stars is adjusted depending on the Reinvest Percentage. The more you reinvest into the game, the higher your Reinvest Percentage.
To learn about the rules and instructions about Samaritan Stars, click here.
The number of tax days will be different.
The amount of days is dependent on the starting tax % and the minimum tax %. See the table below for more info.
Since the game uses a “balanced oracle”, they may also adjust the usual values to their minimum and maximum deepening if the purpose is to incentivize the users or to protect the economy.
Minimum Values (to incentivize the users)
Maximum Values (protect the economy)
3. The Reserve Pool
Crypto Legions implemented the Reserve Pool which is a backup mechanism in case BTC, BNB, and other cryptocurrencies continue to go down. If this happens, the rewards pool may be depleted too rapidly because the incentives are pegged on the dollar. This might cause the $Bloodstone to lose a lot of its value.
Having a reserve pool is an impressive element in economic sustainability since it aims to provide more security for players, keeping an amount aside in a separate multi-sig wallet in BUSD. To maintain the Reserve Pool, around $1K-$2K is sold slowly every day from the vested tokens dedicated to this purpose.
4. The game allows you to “Earn Forever”
You may have raised an eyebrow when you read the phrase “earn forever.” How could this be possible?
The team behind the game will launch a new token whenever one is required in order to keep the game running continuously. For example, if the v3 token reaches the end of its life cycle, the team will quickly launch a new v4 token to restart the game. Also, if the current game ends, players will be allowed to migrate a portion of their value from the current game to the next game, and the team will utilize the entire Reserve Pool to cover the value migration.
These aspects of a game economy are frequently mentioned in community suggestions. The team appears to have been able to synthesize its research, studies, experiments, and community sentiments into a single economic plan.
About Crypto Legions
Crypto Legions is a mythical play-to-earn game on the Binance Smart Chain. Players must raise strong legions of warriors and beasts to hunt the most dangerous monsters on the planet Nicah in the Kolb galaxy.
Crypto Legions makes use of Smart Claim System where they feature “Samaritan Stars”. This means that the higher your Reinvest Percentage, the more Samaritan Stars you will have. These Samaritan Stars will cause you to have a lower Claim Tax and Reinvest Tax. On the other hand, the more a player cashes out, the fewer Samaritan Stars he will have, and the more he will be taxed. Those taxes, of course, contribute to boosting the economy. This system will encourage users to support the game economy to earn more benefits.