Tokenized Rewards (XP)
Last updated
Last updated
The tokenized reward distribution system measures Pangeans’ (all users, creators, and participants) interactions within the ecosystem, weighs it against the overall value generated, and automatically distributes their share of the utility token (VP Token) from the Community Reward Vault. These tokens can then be used within the ecosystem or traded at a fair market price.
To facilitate and accelerate user adoption, all participants will be automatically enrolled in this innovative tokenized reward and badge system and have access to substantial resources that will support the establishment of a strong community treasury vault, further incentivizing the development of an open economy.
All Pangeans have to do is connect their wallets and navigate with ease, as the entire mechanism is incorporated seamlessly into the ecosystem. Individual contributions to the platform are measured in XP (Experience Points) in a fashion that is familiar to gamers. Pangeans can engage with this process and self-monitor their successes and earnings in Pangea Home.
A portion of the VP token will be vested into a Community Reward Vault. Every month, a percentage of the total of the VP tokens in the vault will be automatically distributed to Pangeans based on the amount of XP they’ve earned during that period. For example, if a single Pangean earns 5% of all the XP earned on the platform that month, this Pangean will earn 5% of the allocated amount from the Community Reward Vault for that month.
To ensure that Pangeans are properly rewarded, rather than constantly “printing” value by increasing the token supply for these rewards, the supply of the utility token will be capped, and the Community Reward Vault will instead be fed in a number of ways:
Vesting VP tokens into the vault (finite supply)
Fees incurred on the platform
Manual injection
Feeding the reward vault by using the ecosystem fees allows the vault to regenerate cyclically by the value generated from the ecosystem itself. Therefore, the Virtual Pangea team and the Pangeans generate value together, the value is harvested in the form of VP tokens, these tokens are then redistributed to all parties allowing for a thriving economy.
Most of the web2 platforms charge users X amount per month, whereas Pangeans will receive X amount monthly based on their contributions. It’s a simple shift in mechanics and yet, it substantially alters the way we experience the digital world. Welcome to web3!
