$GOONS
April 2022 | Whitepaper v1.0 | Developed by Galactic Games

Description

$GOONS is our utility token which will act as a medium of exchange, store of value and unit of account for all in-game PvP wagering, minting NFTs, marketplace transactions and player rewards.

Tokenomics

At this stage, we are contemplating a single token model and reserving our position on the best option forward for a P2E token economy. Regardless, we expect the tokenomics may require further changes as users begin to play the game and we have better visibility of the "unknown unknowns". Having the necessary agility to pivot is critical to deliver the best user experience.
The success of our tokenomics will be determined by demand for $GOONS and diversification across token holders.
  • Token Utility - demand for $GOONS is ultimately driven by the utility of the token:
    • Currency for in-game wagering, marketplace transactions and rental platforms;
    • Currency for minting future NFT collections; and
    • Currency for DeFi applications.
  • Total Addressable Market
    • Gaming & Metaverse - our economy becomes more resilient and diversified as we grow our daily active users and mitigate customer churn.
    • DeFi - the introduction of DeFi applications increases the total addressable market of token holders (e.g. DeFi investors) as external utility is offered outside the gaming metaverse.
  • Monetary Policy - macrotokenomic policies targeting supply and demand of tokens in circulation to stabilise the tokenomics of the game if required:
    • Inflationary mechanisms such as minting tokens to increase supply;
    • Deflationary mechanisms such as burning tokens to decrease supply;
    • Staking mechanisms to lock-up tokens from circulation; or
    • Adjustments to reward protocols to incentivise token holders.
  • Fiscal Policy - in-game transaction taxes are critical to fund spending within the game economy:
    • Tax policies to stimulate wagering activity and transaction volume;
    • Treasury spending to subsidise P2E reward pools to attract new customers and maintain existing ones; or
    • Treasury spending to develop new gameplay to introduce new token utility.
  • Token Divisibility - the divisibility of fungible tokens minimises the barriers of entry for in-game wagering if one token unit becomes too expensive for players to purchase on secondary markets:
    • Players can set wagers based on reference currencies such as USDT (converted into $GOONS), which protects the game's wagering utility from token price volatility and market cycles.

Token Generation Event (Q3 2022)

We believe it is in the best interests of the project for $GOONS to be in circulation after the tokenomics are finalised and supported by a liquidity pool.
Our tokenomics will be audited in Phase 3 of our Roadmap in consultation with different stakeholders including legal counsel, consultants and our broader community.
It will be in line with community expectations and include structural features such as long-term vesting schedules and cliffs for the development team & any private investors.
The total token supply will be allocated across different categories including P2E reward pools, staking reward pools, development expenses and marketing contingency.

Regulatory Risk

If the game is structured and marketed appropriately, our legal counsel has advised that the wagering of digital tokens is unlikely to be captured by existing gaming regulations in certain jurisdictions.
We are prepared to hold any required gaming licenses if the regulatory scope expands in the future to capture P2E gaming as mainstream adoption increases.
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