Yield Guild SEA to launch a new token for sub-network for 2022
While functioning as a sub-decentralised autonomous organisation (Sub-DAO), for Yield Guild Games, Yield Guild SEA will be launching its own unique digital token. Known as the SEA Token, it will be launched via the Copper platform in early-2022.
The guild will release a total of 1 billion SEA tokens, which will serve as a unique governance token for the Yield Guild SEA platform. As the name would suggest, SEA tokens will allow holders to have a say in the longer-term trajectory of the project.
“We believe that ownership of the SEA token represents economic freedom through the Metaverse,” the company said in a statement. “The troops are stakeholders, not spectators – every member is both owner and operator-at-arms.”
For the time being, only 7.5% of these tokens will be available on the open market, while a further 25% would be gradually distributed amongst the community. Along with serving as a pathway to governance, they are to provide a direct incentive for activity within the YGG community.
10% of token allocation would also be used to support yield farming within the ecosystem across the first five years of activity.
Yield Guild – Token launch
In order to prosecute its launch, YGG SEA will be using a balancer liquidity bootstrapping pool. Doing so would allow the sale to occur over a set period while operating on a Dutch auction mechanic; where the price gradually decreases over time, until market forces pick up.
Another net incentive for would-be holders, is an incentive program which rewards users who buy and stake within the platform for 52 weeks. Those who do will be eligible to a share of over 10 million SEO tokens on top of their staking rewards.
For more information about the YGG SEA token, visit the website here.