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$RIFT
The central utility token for the ChronoForge web3 ecosystem.
$RIFT will be the singular fungible token in the ChronoForge web3 ecosystem, serving three primary purposes:
- NFT Production, Fusing & Game Balancing:
- Players of ChronoForge will have the opportunity to convert server-based game items obtained through game achievements into NFTs, tradeable between players. In order to control the rate of production of such NFTs and maintain a balanced game, players will be required to pay a variable amount of $RIFT to mint NFTs from server-based items.
- The amount of $RIFT required will vary between items depending on the significance of particular items in gameplay and the volume of that item already in circulation.
- $RIFT will also be required to fuse NFTs of a given type (burning multiple NFTs to obtain a single more powerful NFT item/character).
- Any $RIFT used for the above purposes will be burnt, rather than recycled into the economy.
- Gameplay Governance & Incentives:
- Participation by powerful players in a system of player-governed ‘trading companies’ is pivotal to the core gameplay loop of ChronoForge. To incentivize players to vote regularly, an amount of $RIFT will be distributed to players that hold powerful assets (airships and prospecting deeds) and vote regularly at trading companies.
- Players that complete outstanding gameplay achievements - for example defeating the most bosses in a given month.
- Incentivizing Third Party Ecosystem Contributions
- Approved third parties that provide additional utility, mods or game assets (e.g. skins, items) to the ChronoForge ecosystem can be rewarded with $RIFT grants. We want to actively engage other parties to expand upon the ChronoForge IP.
Token emission of a fixed supply of 100 million tokens will occur over a minimum of 3 years and correspond to active player volumes, rather than a traditional linear-release.
Immediately prior to game launch, 5% of RIFT (immediately unlocked) will be distributed to all holders of genesis adventurer NFTs in an equal amount (per adventurer NFT). This will ensure that during the first 90 days of gameplay there is sufficient $RIFT for some players mint NFT, while the economy awaits $RIFT entering the game economy via the vesting and lock up period of trading company governance rewards (see below).
The figures below are target averages over 3 years, not guarantees. The total amount of $RIFT distributed will vary monthly, primarily based on $RIFT consumption rates and player activity levels (preventing economy bubbles and collapse).
We will vary the monthly distribution over the 3 years so that the average total release per month for governance rewards should be ~833,333 $RIFT.
Upgrading your airship or land through staking adventurers does not increase the total amount of $RIFT allocated to the community that month. Instead, your upgrades effectively cannibalise share of the monthly allocation from other holders who are less upgraded (you get more and others get less). This important distinction means that the total release rate of $RIFT is not dictated by stakers, which helps preventing aggressive compounding spikes in supply as have occurred in other game token economies.
To reward powerful players who contribute to weekly trading company votes, 30% of the supply will be distributed monthly over 3 years, commencing at game launch to holders of Support Airship NFTs and Prospecting Deed NFTs (if adventurer-staked) who participate in trading company votes. All distributions will be subject to a 90 day lock.
The target average monthly emissions for asset holders who participate in governance are:
- ~200 $RIFT per month for support airship holders
- ~1000 $RIFT per month for prospecting deed holders who have staked adventurers to their deed.
The actual amount of $RIFT distributed per holder will vary because of:
- How upgraded each holder's deeds and airships are
- How much $RIFT is distributed that month in alignment with player activity levels and consumption
- the portion of holders failing to participate in trading company governance or failing to stake adventurers to prospecting deeds in that month
- Prospecting deeds (required):
- Deed holders must stake at least one adventurer to their deed to be eligible for trading company governance rewards.
- Up to 5 adventurers can be staked to a prospecting deed to linearly increase the share of $RIFT rewards from that month’s allocation by up to 150%.
- Support Airships (optional):
- Airship holders do not need to stake adventurers to be eligible for trading company governance rewards, but can optionally stake up to three adventurers to increase their share of $RIFT from that month’s allocation by up to 90%.
Core contributors to ChronoForge, including the developers, will be distributed linearly 20% of the supply of $RIFT over 3 years, with a 1 year lock. A long lock up period was important to us to ensure that the development team’s incentives remained well aligned with the success of the game.
Many of the most successful game franchises in history grew and maintained their content and player base through strong third party contribution communities, from simple user generated content through to substantial mods and third-party licensing deals.
We want to give our holders that ChronoForge is an ecosystem with longevity and a plan for growth, and as such will be reserving an allocation of $RIFT to reward major content contributions, including:
- Artists: contributors to environment, item, character models/skins, graphics system enhancements
- Modders & Optimizers: developers who contribute to new gameplay experiences, widgets and tooling
- Third Party Licensees: other studios who wish to produce entirely new games leveraging the ChronoForge world IP, NFT ecosystem and community. We want to see your NFTs come to life in many more titles!
We want to ensure that every player feels they have at least some shot at obtaining an NFT, regardless of their starting position in life or how late they join the game. To facilitate this, small allocations of $RIFT will be distributed to the most skilled players as rewards at tournaments and other major promotional events.
Last modified 9d ago