The LEGENDS Token ($LGND) is an ERC-20 token that functions as the primary in-game currency for Chibi Legends. Players earn $LGND tokens by engaging with the game, similar to other gaming currencies. However, $LGND distinguishes itself by its scarcity and tradability, offering players true digital ownership. This design is pivotal in establishing Chibi Legends as a benchmark in the gaming industry, enabling players to generate income through gameplay. This not only fosters ongoing demand for the token but also helps expand the game’s community by attracting new players.
Legends Token ($LGND) will function as the primary in-game currency for Chibi Legends. Unlike other traditional in-game currencies, However, $LGND distinguishes itself by its scarcity and tradability, offering players true digital ownership.
The token is developed, issued, and managed by Chibi Legends Corporation, and it plays a crucial role across various facets of the game’s Play-To-Earn ecosystem.
$LGND Token Supply Summary
As the foundational currency of Chibi Legends, $LGND Tokens are integral to enhancing the Play-To-Earn ecosystem. These tokens are utilized to craft equipment, such as weapons and armor, and to purchase Commanders, who are pivotal assets in your strategic arsenal. A distinctive feature of the Chibi Legends economy is the staking rewards pool. All $LGND tokens spent within the game are directed to this pool.
Moreover, 20% of all proceeds from primary sales and secondary trading fees are conducted using $LGND tokens. Should a player choose not to use $LGND due to insufficient tokens or preference, the transaction can be completed using an alternate currency. In such cases, 20% of the transaction value is automatically converted to $LGND on the open market and added to the rewards pool. This pool is then distributed proportionally among all token holders actively staking $LGND, fostering a robust and rewarding economic environment for players.
$LGND has a fixed total supply of 500,000,000. Below is a summary of how this supply is allocated.
Play-to-Earn Rewards
160 million $LGND tokens, representing 32% of the total supply, are earmarked for the
Play-to-Earn Rewards pool, reflecting its status as the core component of Chibi Legends’ value
proposition. This substantial allocation is intended to draw a large, active player base into the
Chibi Legends ecosystem. The rewards pool will support a variety of Play-to-Earn initiatives,
including:
- Daily tasks reward system
- Weekly tasks reward system
- Quests Completion Rewards
- Tournament Rewards
- Ranked Rewards
Chibi Legends Reserves
130 million $LGND tokens, which constitute 26% of the total issuance, are reserved for Chibi Legends Ltd, the creators of the game. These tokens will be vested over 48 months following a successful token sale, with a one-year cliff.
The reserved tokens are dedicated to ongoing development, enhancing the game, and organizing special events like regional tournaments and exclusive giveaways.
Community & Ecosystem
100 million $LGND tokens, or 20% of the total supply, are allocated to support community engagement and ecosystem growth. This rewards pool aims to incentivize activities that contribute significantly to the game’s economy and community vitality, although they may be challenging to measure. Allocation includes discretionary distribution by the Foundation and decisions driven by monthly governance proposals.
The Community & Ecosystem funds are allocated for, but not limited to, the following areas:
- Community activations
- Community tournaments
- Community engagements
- Content creators
- Partnerships
- Referral rewards
- Liquidity mining
Token Sale & Giveaways
65 million $LGND tokens, representing 13% of the total, are set aside for public sale across multiple phases. This strategy aims to promote early adoption and enhance the token’s value for all ecosystem participants.
Token Foundation
45 million $LGND tokens, or 9% of the total supply, are immediately available to the Foundation. These funds are allocated to ensure liquidity, foster partnerships, drive marketing efforts, and support other strategic initiatives that the Foundation identifies as crucial for the token ecosystem’s enhancement.