As the governance token of the BoomLand ecosystem, $BOOM is the most valuable asset that players can collect.
Players will be able to harness the power of the $BOOM token by staking it to receive tremendous in-game benefits and governance attributes so the community can take an integral part in BoomLand's development!
It has a limited supply of 5 billion tokens released under the schedule detailed in the token release section.
Scarcity of the token will be ensured and driven by the incentive that players will have to stake their token in the platform.
the main staking pool will provide a base variable staking rate (base staking rate) which players will be able to enhance through a few different mechanism (increasing their BoomPower for example)
Before anything, $BOOM will be the most useful resource a player can have in the BoomLand universe.
$BOOM will find a utility across all the BoomLand modules:
$BOOM And Play:
$BOOM directly increases players' BoomPower, impacting their gameplay in many ways. Arena level access, game rewards drop rate, unlocking new features, early access, etc
$BOOM and NFT Marketplace:
The marketplace's main currency is $BOOM exclusively. Different currencies may be added later, but $BOOM will always be the currency of choice.
$BOOM and Asset Management:
$BOOM will act as the fuel required to mint new NFTs and activate some unique features required to interact with the blockchain. For example, summoning a new Hunter on "Hunters On-Chain" will require staking Hunters and spending some $BOOM.
$BOOM and Governance:
$BOOM holders that have chosen to stake their token in the DeFi module will be given voting power proportional to their staking amount which they will be able to use to participate in many decisions that the platform will suggest.
$BOOM and DeFi:
DeFi is the module where all things related to decentralized finance will happen. The main two elements that will be integrated here will be a staking pool and a liquidity pool. Their BoomPower will also impact the staking pool APY of each user. The staking pool will only be open to $BOOM, while the liquidity pool will contain a few trading pairs for $BOOM and facilitate $BOOM/$BGEM conversion.
At the core of the BoomLand project resides sustainability. From a design perspective, it was crucial to integrate an efficient mechanism directly destined for that purpose.
The ecosystem contribution is a small percentage taken from every transaction made in $BOOM (wherever the token may reside). The contribution will then directly land into the ecosystem fund.
The current contribution is set to 1.5%, but the team will be able to adjust it to ensure the balance is maintained.
A few exemptions will be granted to some wallets to ensure that double contribution is not paid on staking or liquidity providing, for example. The complete list of exempted wallets will be made publicly available and some wallets may even be granted full exemption of contribution.