The GF, or GuildFi token, is the last piece of the ecosystem. It is something between each GuildFi zone to allow collaboration. and connect different zones together
The first step in understanding the importance of GF tokens is to understand their purpose and tokenomics, which can be seen in the figure below.
The image above shows that GuildFi is more than a guild and there are different elements that make it unique. The purpose of the GF tokens is to differentiate between people who buy GF tokens for short-term needs such as short-term speculation. and those who buy GF tokens for long-term needs, such as enhancing performance for the original users of the GuildFi platform, long-term investors, and GuildFi partners.
The GuildFi community will be different through the staking mechanism introduced in early December. Similar to Curve’s governance tokens, in particular CRV and veCRV, GuildFi, GF, and sGF tokens, the token staking scheme, serve the same purpose. Each GF holds will scale in proportion to the length of time they stake their GF tokens. For example, stake 1 GF token for 52 weeks (the maximum amount of time you can stake) will get you: Earn 1 sGF, while staking 1 GF for 26 weeks will earn you 0.5 sGF. It also includes the amount of time you stake and commit to the GuildFi platform.
With this staking mechanism, instead of GF tokens being used for governance and for profit on the GuildFi platform, sGF is used instead. sGF holders can vote now sGF holders still have and will continue to benefit. As the GuildFi platform and play to earn ecosystem continue to grow.
Benefits of sGF to those who stake
There are several other examples where holding sGF or stake GF tokens can result in direct value added to GuildFi platform users in each of the features listed below:
- Metadrop Launchpad
- GuildFi Tools Zone
- GuildFi ID
- Proof of Play Rewards
- Game Discovery
Metadrop Launchpad
A prime example of the value of sGF and GF tokens in general is GuildFi’s latest IGO, Summoners Arena.
In the example below, the Blue Gem is equivalent to one sGF.
- Blue Gem power less than 300 — that is, wallets with sGF less than 300 are not eligible for tickets.
- Blue Gem Power 300+ — This is a wallet with 300 or more Gem Power (Blue) has a 3% chance to get a ticket.
- 1000+ Blue Gem Power — This is a wallet with 1,000 Gem Power (Blue) or more has a 10% chance of getting a ticket.
- Blue Gem Power 4000+ — This is a wallet with 4000 or more Gem Power (Blue) has a 30% chance to get a ticket.
- Blue Gem Power 10,000+ — This is a wallet with 10,000 or more Gem Power (Blue) has an 85% chance of getting a ticket.
- Blue Gem Power 40,000 — This is a wallet with Gem Power (Blue) 40,000 or more, has a 95% chance of getting a ticket.
The more Blue Gems you have, the more chances to get tickets. Summoners Arena is an upcoming play to earn game that offers a unique idle-RPG experience running on Binance Smart Chain ( BSC), by holding Blue Gems earned only by stake GF or holding sGF, you will be eligible to participate in the upcoming play to earn game, Summoners Arena, with a chance to win original NFTs through IGO. and liquid Summoners Arena tokens, among other benefits.
GuildFi Tools Zone
As mentioned in last week’s GuildFi medium, the GuildFi Tools Zone houses data and tools for guilds. More broadly, by guild managers, scholars, and players. As with the Summoner Arena IGO, the amount of tools and features available to users and guilds of the GuildFi platform scales with the number of sGF staked. too
GuildFi ID
The amount of GF staked or sGF held is shown in GuildFi ID Although it is not fully implemented on the GuildFi platform. But it is similar to other video games like DotA2, holding a large amount of sGF can be compared to having a higher level in Battle Pass where the number of sGF (level in Dota2 Battle Pass) can be displayed along with your GuildFi ID. Yes, if you choose to do so.
Proof of Play Rewards
Also, like many DeFi protocols like Curve Finance or Convex, the more sGF is held by an entity. It even grants them the right to increase the rewards they receive in each game they partner with GuildFi.
Game Discovery
As more and more play to earn games are released, improved, and started, the more valuable they become. And likewise, staking GF tokens for sGF will give you early access to new games in collaboration with GuildFi.
Due to the nature of P2E games, early access gives you more chances. Not only play interesting games before others. but also control skills and have an advantage in the game more than anyone else
Conclusion
Overall, the GF Token can be considered the missing part of the GuildFi platform, which allows for interoperability between all the features and zones it offers.
The tokenomics also ensures that the level platform is built with true democracy. which people who may have more money but have a short-term commitment will have the same voting power and benefits as those with less money. but has a long-term commitment
Over time, the GuildFi platform will continue to evolve to help. Not only those parts of the GuildFi Guild, but also the GuildFi-based platforms, and of course it will provide the most value for GF token holders and our community as a whole.
refer : LINK