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How to claim your $MEGA tokens

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DappRadar

How to claim your $MEGA tokens

MegaCryptoPolis is a decentralized city builder strategy game that runs on the Ethereum and TRON blockchains. The dapp launched the ERC-20 and TRC-20 $MEGA token to enable staking, yield farming, and liquidity mining on October 28th.  

Although the release of the token was delayed, forging gaming and DeFi mechanics might serve to increase trading volumes and active wallets within the dapp quickly.

Key Takeaways:

  • $MEGA Token acquisition from the Vault and Resources claims started on the 28th October simultaneously on the Ethereum and TRON Networks ~ 2 PM UTC
  • Not an offering, TGE, or distribution
  • Pre-minted, fixed total supply
  • MegaCryptoPolis daily active wallets increased on Ethereum and TRON by 65% and 5% respectively in October
  • It is early to say how the introduction of the $MEGA token will impact daily active wallet dynamics

$MEGA token distribution

As already mentioned, the core idea behind the $MEGA token is to make game resources liquid and enable transfers between the Ethereum and TRON gaming ecosystems. 

As per the $MEGA token paper, 90% of the $MEGA token supply will be initially deposited to the in-game Vault. 10% of the $MEGA token will be reserved to create initial liquidity pools on major platforms to set the initial price.

No token sale, pre-sale, initial offering, or distribution will take place. The entire amount of $MEGA Token is pre-minted. No reserves held by developers, advisors, early adopters, bounty hunters, etc..

The total supply of the $MEGA token is fixed and will not change over time, meaning there will be no mint or burn functions within the smart contract. The result: there is no way to create or destroy $MEGA tokens, ever.

As per the latest MCP Medium blog,  initial rates for $MEGA and resource swaps in the vault are as follows: 

That means 10 Bricks equal 1 $MEGA Token when first deposited to the vault. The next swap may have another rate as adjusted by the vault formula.

How to get $MEGA?

The $MEGA token can be received by locking resources in the vault inside the MegaCryptoPolis game. Only materials can be swapped to $MEGA (Energy and Water were excluded from the list). 

There is a dedicated token for each network. $MEGA token supply is fixed, 1,000,000 (1 million) $MEGA for each network so 2 million $MEGA tokens in total:

  • 1,000,000 $MEGA (ERC20) on the Ethereum Network
  • 1,000,000 $MEGA (TRC20) on the TRON Network

To claim the $MEGA token, you need to head to the MegaCryptoPolis webpage and log in with your Ethereum or TRON wallet.

By clicking the BANK or SWAP button on the webpage, you will be able to view the below screenshot. 

If more material of a certain type is deposited then less $MEGA will be received for the same amount of material. The $MEGA token is distributed from the vault on a first-come, first-serve basis. 

With ERC20 resources it is easy to turn them into $MEGA, then trade on Uniswap ($MEGA/ETH) and provide liquidity. 

Note: As per the MCP team the $MEGA token is not yet whitelisted on Uniswap so it is okay to confirm.

Please make sure the token address starts from “0x321” ends “654”.

A fake $MEGA token has been whitelisted on JustSwap earlier yesterday resulting in the liquidity pool $MEGA/TRX being postponed. 

How to use $MEGA?

Once you own $MEGA, there are five ways to use the token.

  1. Play the game

Users need to play the game to yield $MEGA and then release the resources in the vault using $MEGA. 

  1. Interoperability

By granting a connection between Ethereum and TRON gaming maps using $MEGA to transfer resources users are able to:

  • swap materials to $MEGA on Ethereum
  • exchange $MEGA on Ethereum to $MEGA TRON
  • swap $MEGA to any material on TRON  
  1. Governance

The $MEGA token could be used for governance to help the team make decisions regarding game development milestones and adjustments.

Note: Governance functions will be limited for the $MEGA Token.

  1. Store of Value

HOLDING as protection from resource price fluctuations.

  1. Earn fees

By providing the $MEGA liquidity pools on Uniswap and JustSwap users can earn fees.

  1. Trade

$MEGA is an ERC-20/TRC-20 token and can be freely transferred or traded on any DEX

How to yield $MEGA?

To yield $MEGA there are several ways:

  • Once the material is locked in the vault for $MEGA, users can rent or own a building and then appoint a citizen to produce material. 
  • User can purchase the materials from other players
  • User need to manage a corporation to claim the $MEGA from the fund
  • User can govern the district and collect taxes from corporations in $MEGA
  • Get materials in MCP3D packs from the store

Will we see a spike in MegaCryptoPolis metrics?

The daily active wallets of MegCryptoPolis have increased on Ethereum and TRON by 63% and 5% respectively in October to-date, compared to September. 

Although current results indicate an increase of daily active wallets, it is still too early to say how the token will change metric development overtime.

Conclusions

The $MEGA token is equally distributed on each network (2 million $MEGA tokens) in total.

These $MEGA token can be used by locking resources in the vault, swapping resources on each network, and providing liquidity to DEX’s.

There is the possibility of cross-chain value by swapping resources on Ethereum and TRON.

Going forward the $MEGA token can be used as a governance token to help the community decide the milestones.

Currently, the daily active wallets on both networks have increased. Having said that, it is too early to state how the token can bring significant change to MCP. 

As always we will continue to monitor and report on the space. Make sure you bookmark DappRadar.com and sign up for our Airdrops below to receive updates direct to your inbox.

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