PYR 101 — The Ultimate Play-to-Earn economy
Initial registration for publics sale: https://vulcanforged.com/application
$PYR is the native ERC-20 token for the Vulcan Forged ecosystem.
Vulcan Forged carefully crafted this token together with our blockchain partner Polygon (previously Matic).
We believe that the $PYR token will play a key role in our mission to revolutionize the play-to-earn concept in gaming.
It can be earned in a myriad of ways just by playing the many Vulcan Forged dApps.
With the upcoming public sale, this is the ideal time to introduce to you the multitude of use cases of $PYR across the Vulcan Forged ecosystem!
The primary use for $PYR will be as a form of currency in the Vulcan Forged marketplace (market.vulcanforged.com).
In order to make purchases, you must exchange your $PYR for the intermediary token FIRE. This $PYR to FIRE exchange is completed within your account in the marketplace. $PYR and FIRE will always be tethered at a 1:1 ratio.
The Vulcan Foundation will fund two PYR reward pools with 10M initial tokens released over a 24 month period. One pool is the ‘LAVA Pool’ (Play-to-earn) and the other a Staking Pool.
Along with the foundation’s contributions, the pools will be added to in four ways (for now), each time equally divided between the two:
- 10% of the fee taken from every Vulcan Marketplace transaction will go into the pools.
- 10% of every fee taken from direct asset sales (Berserk cards, or Vulcanites for example) will go into both pools.
- 50% of every upgrade fee for land, Titans, and Olympians will go into both pools.
- 10% of every prize pool and tournament fee setup in the Frenzy game platform will go into both pools.
Inside of the flagship game VulcanVerse, the major use case for $PYR is in leveling up and staking in your NFT land(s) and NFT God(s). Each level increase (up to level 7) will have a $PYR fee and also require a $PYR deposit in the form of token staking.
The fee is non-refundable but the staked coins can be removed at any time. Removing staked coins will, however; lower the level of your land or God to the corresponding amount of $PYR remaining staked (e.g. removing X amount could reduce your land from level 4 to level 2). Upgraded land is eligible for monthly $PYR rewards from the $PYR staking reward pool.
The level and quantity of your lands compared to the levels of all other lands in VulcanVerse will determine how much you will receive as part of the monthly $PYR reward pool dividends.
Leveling up your land allows for increased access to more building tools, better assets, and treasure pits worth greater value. Using $PYR to level up your God will not only change the dynamic nature of your NFT image (as there are unique images for each of the 24 God’s 7 levels), but will also do four critical things:
- Raise your percentage of the monthly reward pool by 10% per level increase (e.g. if you earned 100 $PYR, with a 10% increase, you would receive 110 $PYR). Larger reward pool earnings = more $PYR to use within the Vulcan Forged ecosystem!
- Raise your percentage of LAVA won while playing Vulcan Forged games by 10% per level increase. LAVA is used for numerous purposes across Vulcan Forged dApps, such as leveling up your vulcanite’s stats.
- A level 7 God will grant you access to Elysium, an exclusive area inside VulcanVerse where you can use your vulcanite to forage (search) for ultra-rare NFTs from the Vaults of Vulcan.
- Reduce the seller’s fee in the marketplace by 10% per level increase. All of the NFT items you find while foraging, earn by completing quests, etc. in-game can be sold on the marketplace. Reduced seller’s fee = larger $PYR profits!
Another use for $PYR within the Vulcan Forged ecosystem is the 3rd party developer de-fi loan program.
$PYR will allow token holders to fund the operations of game developers for the Vulcan ecosystem via a liquidity pool. Vulcan Foundation will keep a small margin of the interest rate on those loans and pass the remaining to the liquidity providers. Interest in the trade financing protocol will be payable in $PYR tokens.
While not the main function of the PYR token, it can also be used as a medium of getting users attention to any Vulcan Forged ecosystem dApp by way of rewarding users in loyalty points and also bring financing to third party dApps.
Advertisers are given options of paying in $PYR tokens and lock-up for the period of advertising.
$PYR is brimming with use cases for both the public and the Vulcan Foundation. As the Vulcan Forged ecosystem of dApps grows, use cases for $PYR will continue to increase.
This world is quickly expanding, with lots of information to be processed, here are some links to help you along your journey