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Governance Token (PGX)
What is PGX and what are its use cases?
Pegaxy Stones (PGX) are located on the Polygon Layer 2 chain, developed as the governance token of the Pegaxy Metaverse. Initially, there will be very limited ways to earn PGX through gaming itself; this will eventually change with the introduction of community treasury staking
General PGX Statistics:
Question | Answer |
Token Name | Pegaxy Stone |
Token Symbol | PGX |
Token Decimals | 18 |
Token Type | ERC-20 |
Total Supply | 1,000,000,000 PGX (1B) |
Blockchain | Polygon (Matic) Chain |
It should be noted, Pegaxy will not be a decentralised game on release. This process will take many years of game development and community growth. The fees (noted below) within the ecosystem of Pegaxy for the first year*, will go towards the game studio to assist in the costs of development, large scale partnerships, recruiting senior experts and building an extremely strong foundation. This system allows the game studio to move forward and increase the speed of the games development, which also speeds up the inevitable decentralisation of the game.
When staking does go live, players will be able to stake their tokens inside the treasury and are rewarded with PGX plus the ability to vote on key ecosystem developments and suggestions. Eventually, through large scale tournaments and other events, players will be able to earn PGX.
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Inside the Pegaxy Metaverse, we have introduced multiple use cases for the PGX token, these include:
- Breeding fee
- Purchasing of Pega 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.
The complete decentralisation of Pegaxy will not be a simple or quick process. Through trial and error alongside our growing community, we plan to eventually fall into decentralisation once the game economics, DAO and gameplay has been "perfected".
Last modified 8mo ago