Lands of the first cycle have more resources and have a faster production rate than the lands of the second cycle” that’s what we have always mentioned about the mining cycles in our posts or tweets that there is a cycle for the lands that get generated. This is a new major topic in the world of crypto games. Mining cycles is an exclusive feature for Chain of Legends tokenomics that makes it special amongst all of the crypto games, as it stands for #BITCOIN of P2E games.
But what truly are these Cycles?
And what are they good for?
Read to the end to get your answers from us!
Compound Interest is the first issue of blockchain games. There’s a simple reason that most of them usually face a crisis in their tokenomics in the long term. The crisis here means a continuous price decline.
Usually, at the beginning of most of the games, the players with a low amount of investment reinvest their income inside the game to earn more and use the power of compound interest which is also good for the game’s economy. But after a while and playing the game, they will reach an enormous income that grows faster than community growth. The time that they decide to start cashing out or a piece of unfortunate news for cryptocurrencies that pushes back the price of the #Bitcoin, their token prices will continuously decline.
To prevent this issue and regulate the #CLEG’s supply in the market, we generate a limited amount of land for mining per day. As a result, there will be a limited supply of the #CLEG to mine every day like most blockchain coins. When all of the tokens of the day get mined, there won’t be any other lands available. For example, the first cycle of the lands will have a total of 1,300,000 $CLEG to earn per day. This amount is dispersed into the various lands that get available during the day and they have differences in the amount of $CLEG available and also in the production rate.
- If you are not familiar with the diversity of our lands, you can always read about them in the NFT Land Article.
If all available lands get sold, Players have to place bids for the next land, so players have to pay more #CLEG to own land to begin mining. This system will automatically increase demand for the token and will decrease the supply of the token.
To put it in simple words, cycles to the lands are like seasons to the days, but with a different strategy and timing.
At the beginning of the game in the first cycle, 2000 lands (common, uncommon, rare, and legendary) will become available to buy per day. As told before, these lands have 1,300,000 #CLEGs in total to mine in the first cycle. After each cycle:
- Tokens of the new Lands will get reduced by 5% which would be 1,235,000 #CLEGs in the second cycle.
- Token mining speed or “production rate” of the CLEG Mine will also get reduced by 5% after each cycle.
- The “capacity” of CLEG Mine will also get decreased by 5%.
- The “Repair cost” of the CLEG Mine will get decreased by 5% each time.
- Adventure Rewards also get decreased by 5% each time.
The First cycle length is at least 10 days, the second cycle is 11 days, and each cycle will be one day longer than the previous one.
You should know that each cycle’s duration gets longer if all of the lands were not sold by the due time. For an instance, the second cycle’s period is 11 days and a total of 22,000 lands get generated in this cycle. If by the end of the 11th day, the lands are not sold yet, the duration of the cycle gets extended until all of the lands get sold. It might take two weeks or a month, but if the demand gets higher, the lands might get sold out sooner than the minimum period.
Aggressive Token Burn
70% of all tokens that players spend inside the game will get burnt, and the other 30% remaining tokens will move back to the reward pool. This token burn will take place in the middle of each month (from the 13th to the 17th)
The last token will be mined in the year 2034 or later. After that, we may use the reserved token pool to continue the game’s economy.
Chain of Legends’ deflationary systems limit CLEG’s mining, supply, and burn tokens aggressively, and reduce mining rewards over time. As a result, our game’s tokens will become more and more rare and valuable. As NFTs are priced by the game’s token they will also become more valuable over time even more valuable than the tokens. for example, a legendary land in the early days of the game has ~14000 #CLEG, but the same legendary land in the next few cycles or 100 days and has ~10000 #CLEG. So buying and holding game tokens is very profitable, and game NFTs are even more profitable, Thanks to the deflationary system.
More articles are about to get published, stay tuned …
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