The Tokenomics of Pegaxy Explained

As the governance token of the Pegaxy Metaverse, Pegaxy Stones (PGX) are located on Polygon Layer 2. In the early stages, there will be very limited ways to earn PGX through gaming; this will eventually change with the introduction of community treasury stakes

General PGX Statistics: #

Pegaxy will not be a decentralized game when it is released. Developing the game and growing the community will take many years. During the first year*, the fees (noted below) will go toward the game studio to assist in the costs of development, large scale partnerships, recruiting senior experts, and building a strong foundation. Through this system, the game studio can move forward and increase the speed of the game development, which speeds up the inevitable decentralisation of the game.

In the event that staking becomes live, players will be able to stake their tokens inside the treasury and be rewarded with PGX plus the ability to vote on key ecosystem developments. In the future, players will be able to earn PGX by participating in large scale tournaments and other events.

Pegaxy Metaverse has introduced multiple uses for PGX tokens, including:

• Breeding fee.
• Purchasing of Pega/Gear/Food on the marketplace.
• Staking.
• Large tournament rewards.

The Pegaxy ecosystem involves two primary fees at launch, these are:

• PGX fee associated with breeding.
• 3%* fee on all marketplace transactions.

Decentralizing Pegaxy will not be an easy or quick process. Once the gameplay, DAO, and economics of the game have been “perfected”, we intend to eventually fall into decentralisation as a result of trial and error and our growing community.

Utility Token (VIS) #

Pegaxy’s ecosystem uses Vigorus (VIS) as the primary “earning” and “spending” token.

VIS is awarded (created) to players who place in the top 3 when racing; there is no IDO for VIS. VIS is destroyed (burned) through the Breeding model described later in the whitepaper. We aim to create a reasonable balance between minting and burning while avoiding micromanagement and excessive control.

VIS tokens are earned by racing against other players inside the game. Players earn VIS based on their overall placing in the race and which class their Pega is in. VIS tokens must be earned by placing in the top 3 in the Racing section. Those who do not place in the top 3 do not earn VIS tokens. It is likely that the amount of VIS awarded for races will change in the future due to the rapidly changing nature of the in-game economy.

VIS tokens are also used for breeding, and the amount of VIS required to breed depends on the breed count of each Pega. The formula for breeding can be viewed on the Breeding page.

VIS statistics in general:

Fabled Tokens #

Those who possess fabled tokens possess a powerful tool that can change the course of their lives. They allow you to evolve your Pega into a Crowned Pega.

Referring a person to the Pegaxy platform and having them purchase at least one Pega would earn them. Fabled Tokens do not expire or disappear, they remain in your wallet until you burn them (destroy them) or sell them on the peer-to-peer marketplace. A Pega can be evolved at any time. On Polygon Chain, Fabled tokens are ERC20 tokens.

There are a maximum of 4,000 tokens and 800 attempts at evolution. 

Calculation: 4,000 Fabled Tokens / 5 Tokens Per attempt = 800 Maximum Crowned Pega in circulation if all evolutions are successful. We predict less than 50% of attempts are successful.

Due to the fact that Fabled Tokens are burned (destroyed) upon use, the token circulating supply gradually decreases over time, creating more scarcity in the market.

Say you earned 20x Fabled Tokens during the event. If all of your attempts to evolve Pega are successful, you can evolve up to four. The newly Crowned Pega cannot be evolved again if your evolution succeeds. You will then need to try Pega again which is not Croned.

The following table indicates the probability that your Crowned Pega will evolve successfully:

Additionally, Crowned Pega parts cannot be inherited by their children, so if all Fabled Tokens are consumed, no more Crowned Pega can be created.

Conclusion #

Pegaxy has multiple tokens that are part of it’s ecosystem. Due to its solid tokenomics, game mechanics and improved in-game token (VIS) compared to Axie Infinity’s SLP token, we expect that more and more investors will be drawn in.