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$MAG Token Utility & Token Flow
The $MAG token is based on a mechanism for distributing revenue generated from advertisements and green fees.
The $MAG token ecosystem is a limited energy and can only be exchanged for a certain amount of crystals or XP. There is a limited reserve of 5 billion $MAG based on Ethereum and it represents the currency of the Meka Ape ecosystem. It serves four purposes.
- 1.In the MekaStore: the $MAG token will be the digital voucher that can be used in the Meka Ape digital ecosystem to buy in-game assets like skins, accessories, lands, weapons... Game items will have a price expressed in fiat currency, and the corresponding amounts in $MAG will be calculated in real time.
- 2.The $MAG will be your ticket to e-sport events organized by brands or influencers. Major e-sport tournaments will be held. Each faction leader can take their team to fight in the arenas by betting a number of tokens specific to each event. The winner takes the bet and other tournament rewards.
- 3.STAKING: Meka Ape will allow each team leader to create a pool that allows the team to earn passive income by holding a certain amount of $MAG tokens.
- 4.REWARD: The $MAG will be a reward for players. The more I play, the more XP or crystals I earn, the more levels I unlock, the more tokens I earn. Rewards are based on revenue generated from advertisements and green fees and calculated in real time by an algorithm.
$MAG digital tokens are not intended to be used outside the Ecosystem as a means of payment for acquiring goods or services. The use of $MAG digital tokens shall be limited to the Ecosystem. $MAG digital tokens shall be non-refundable. The sole obligation of the issuer shall be to accept $MAG digital tokens in exchange for in-game goods and services. The access to the Ecosystem shall be restricted to the holders of $MAG digital tokens. The players shall be required to possess a minimum amount of $MAG tokens to register an account and participate in the Ecosystem.
🔄 Token Flow
- 1.Initial allocation of reward pools An amount calculated by our $MAG reward algorithm will be distributed each month. This is guaranteed by our early design of the initial allocation of 5 billion $MAG, of which 20% are reserved for the players rewards.
- 2.Continuous supply of reward pools $MAG is intended to be spent in the ecosystem. For example, by purchasing vouchers (consumables) such as a Twitch gift card. 50% of advertising revenue is reinvested between the reward and the staking pools on a 50:50 basis at the beginning, to encourage active players. The distribution may change over time based on user game behavior and revenue generation.
- 3.Smooth and stable acquisition of reward pools In order to avoid causing a spike in the supply of reward tokens in any given month, Meka Ape introduces a stable distribution mechanism. $MAG will be reinvested evenly over the four months following the date of income entry. In this way, we create reward pools that can never actually be exhausted.
Example: $100 of advertising is spent in the game in January 2023. $70 MAG must be reinvested into the system over the following four months (i.e., February to May 2023). The reinvested amount will be distributed in the reward and staking pool on a 50:50 basis. Therefore, each pool will receive $35 MAG over 4 months.