GG DApp is a decentralized gaming platform allowing users to get rewarded for their skills and achievements. The GG DApp harnesses the capabilities provided by blockchain technology to overcome the problems that have accompanied the dominant video game model such as paying for games, in game ads and pay-to-win models. We believe that the proliferation of digital economies that involve the creation and transaction of digital assets, represents the ideal use case for blockchain and crypto, as they are ideally adapted for enabling digital financial ecosystems.
The GGDApp creates a gaming ecosystem that rewards players, developers and investors for the value that each brings on the table.
We believe that everyone that helps a project to be successful should receive also the rewards of it’s success. Our platform aims to make this vision a reality, the 3 main actors involved, Developers, Players and Liquidity Providers will have ways to own and stake our token it to receive part of the success (sales revenues, transaction fees etc).
The platform will reward everyone that helps it be successful through creating economic incentives that lead to it’s growth and development:
- Liquidity Providers (LP’s) will be rewarded with GG tokens (GGTK) when they contribute to the liquidity pools.
- Through the GGDApp, developers will have access to a player engagement mechanism that will allow them to promote their game. In addition, they will be rewarded with GGTK from their game activity.
- By introducing a proof-of-play reward mechanism, gamers will be able to play and buy items to earn GG tokens.
The platform’s architecture will revolve around 2 main Smart Contracts:
- The Rewards Smart Contract
- The Staking Smart Contract
Games and gaming platforms will be able to trade a percentage of their sales and transaction fees revenues for GGTK through the Rewards Smart Contract. GGDapp users will also be able to use the Staking DApp to stake GG and earn a percentage of the sales/ transaction fees through the Staking Smart Contract.
How will GG work
Players will earn GGTK for the time they spend playing. As it is a core feature of the GGDApp, the more players play the more tokens they will earn. Game Developers will be able to set up rewards with our token for players that complete in-game achievements.. Game Developers will be able to use GGTK to fund their games without resorting to advertising. Devs will be able to spend their GGTK to reach a wider audience and increase the visibility of their games.
The GGDApp will first integrate the SimracerCoin gaming platform and the 2048 Pirates Decentralised Ethereum video game. Other developers will be subsequently allowed to integrate their own games in the platform.
For our rewards mechanism, to keep it simple, we will adopt a similar model to Bitcoin rewards, with a total of 21 million GGTK available. Every 10 minutes there will be a new block containing all new information, including transactions and rewards and initialy 50 GGTK will be distributed. Every 210,000 blocks, or roughly every four years, the total number of GGTK users of GGDApp can potentially win is halved.
The GGTK distribution will be done according to the reported gaming activity, both in form of sales or game actions.
This Tokenomics model is still experimental and will be optimised according to insights collected from the integration in our own projects, as a consequence, changes to this model may occur.