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MegaCryptoPolis launches DeFi powered $MEGA token to enable yield farming

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DappRadar

The $MEGA Token can be received by locking resources in the vault inside the MegaCryptoPolis game.

MegaCryptoPolis the city builder dapp game has been running since 2018 on the Ethereum and TRON blockchains today announced they are launching the ERC-20 $MEGA token to enable staking, yield farming, and liquidity mining on October 1st.  

Furthermore, with the recently announced MakerDAO partnership, MegaCryptoPolis is offering a time-limited 30% discount on packs with resources when purchased with DAI. 

This announcement has come in a week of rising hype surrounding the blockchain game, marketplace, and collectibles categories and it appears to be an evolution on the yield farming craze. Forging gaming and DeFi mechanics to try to increase trading volumes and active wallets within the dapp.

Key points from the statement: 

  • Tangible product with 2.5 years of history
  • $400’000 locked in smart contracts 
  • Not an offering, TGE, or distribution
  • Pre-minted, fixed total supply
  • No Token reserved for the team 

How to get $MEGA?

The $MEGA token can be received by locking resources in the vault inside the MegaCryptoPolis game. Resources can be produced in a building, purchased on the in-game market, or acquired in Packs from the official store (limited amount). 

$MEGA tokens will also be available in liquidity pools (Uniswap and JustSwap) and will be added to decentralized exchanges. 

With the recently announced MakerDAO partnership, MegaCryptoPolis offers a time-limited 30% discount on packs with resources when purchased with DAI. 

$MEGA Token Release Schedule

The $MEGA token smart contracts will be deployed and verified on September 24. A week from September 24 to October 1 will be reserved for contract audit, no Tokens will be used during this period.

$MEGA will become available for acquisition from the vault on both the Ethereum and TRON Networks from October 1st at 1 PM UTC. 

NFTs meet DeFi

MegaCryptoPolis is one of the most popular blockchain games currently on DappRadar All the game logic is built on smart contracts meaning that every player’s action is a transaction and every game item is a token. 

Players acquire land to construct buildings using resources. Resources are the core of the gameplay. Wood, sand, bricks, etc. are produced in buildings and are required for buildings to be upgraded and operated.

Every time a resource is used in the game it’s burned — that means the overall supply of a resource in the game reduces. Each resource has its own price within the in-game market, which may be different for the same resource on different networks. 

Actual deal prices and trading volumes are reported in the “MCP Times” newspaper that acts as a block explorer for the game assets. 

At the moment all the resources are traded as NFTs (ERC-721), but the team does not reflect the nature of a countable asset. The $MEGA ERC-20 token is invented to change that.

The token for a decentralized city

The core idea behind the $MEGA token is to make game resources liquid and enable transfers between Ethereum and TRON network gaming maps. 

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.

100% of the tokens will be initially allocated in the vault. Players will be able to receive $MEGA from the vault by depositing resources to the Vault. The less $MEGA token left in the vault, the more resources will be required to receive the same amount of $MEGA from the vault. 

It is also important to note that no oracles or external data will be used to determine rates for swaps it will be totally regulated by demand and vault supply. The idea here is that will create an independent and trustless cross-chain market with no control from developers.

NFTs join the DeFi hype

NFTs are looking to take the spotlight. Over the past week the hype has really started to show and it feels like everyone is talking about them. Crypto Art appears to be dominating the headlines, but the potential of NFTs may go far beyond that.

As always we will continue to monitor and report on developments as they unfold. Make sure you bookmark DappRadar and sign up to our newsletter below to get updates direct to your inbox.

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