$W3G - W3Gamez Network Token
Learn about the W3Gamez Network Token
Last updated
Learn about the W3Gamez Network Token
Last updated
Š Web3Games.com
The initial issuance and distribution of $W3G tokens is planned to commence in the Q1 of 2024.
W3Gamez Network Token ($W3G) serves as the native utility token of the W3Gamez Blockchain Network, powering its ecosystem and empowering its users. $W3G plays a multifaceted role, encompassing essential functionalities and enabling active participation in the network's governance.
Unlike other Layer-2 Networks, $W3G serves as the primary currency for gas fees on the W3Gamez network, enabling users to execute transactions and interact with smart contracts within fully on-chain games. The W3Gamez network employs a gas fee burning mechanism, whereby a portion of $W3G spent on transaction fees is permanently removed from circulation. This incentivizes network usage while driving natural deflationary pressure, potentially increasing the token's long-term value.
A designated portion of transaction fees denominated in $W3G is allocated to the staking reward pool. By staking $W3G tokens and meeting the established eligibility criteria, holders have the opportunity to earn passive rewards from this pool.
$W3G grants its holders voting rights within the network ecosystem, allowing them to participate in on-chain governance proposals that shape the network's future development and direction.
