$WGT - Web3Games.com Token
Learn about the Web3Games.com Token
Last updated
Learn about the Web3Games.com Token
Last updated
Web3Games.com Token ($WGT) is the native utility and governance token created to incentivize and reward activities that support the Web3Games ecosystem. As the native and governance token of Web3Games.com, there are currently multiple critical utilities for $WGT:
$WGT is the beating heart of the Web3Games.com ecosystem, serving as the universal currency that powers every interaction from acquiring game assets and paying fees to unlocking development toolkits, to even deploying your rollup chain in the future. Holding WGT may grant you access to exclusive sales, auctions, and other high-value events, propelling you to the forefront of the gaming experience.
$WGT tokens received as part of the fee capture mechanism, where fees are mainly consisted of the protocol fees mentioned previously and the payment for development toolkit, will be sent to the "Staking Rewards Pool". At seasonal intervals, this pool will be distributed proportionally among all users who are actively staking $WGT tokens on our platform. The exact allocation of $WGT rewards to each individual user will be based on their proportional share of the "Total Points" earned by all users, which is calculated by a designated scoring system where Points are positively correlated with the amount of $WGT users have staked and corresponding duration during each staking season. Staking will be activated soon after TGE.
A key pillar of Web3Games.com's operating model is decentralized governance by $WGT token holders. $WGT confers proportional rights to steer the evolution of the protocol through submitting proposals including topics such as how to allocate token reserves, activating daily rewards, developer grants and changes in token supply. All proposals that are successfully approved will be executed accordingly. Web3games.com aims to continuously add to the utility and decentralization of our native token, under which circumstance Web3Games.com becomes a community-oriented network governed by aligned economic incentives. The resulting system coordinates the collective insights of token holders to guide innovations that responsibly grow the ecosystem.
