$DOGA Token Utility & Token Flow
In its truest form, the $DOGA token represents the energy generated through the symbiotic relationship between pet and owner. Players must spend $DOGA on their Dogamí to generate more energy (in the form of tokens) and subsequently increase the symbiotic bond.
$DOGA is also an entry ticket/access token to the Petaverse. Therefore, players need to own a minimum of $DOGA to access & participate in certain activities within the Petaverse.
The $DOGA is a scarce and useful resource. There is a limited supply of 1,000,000,000 $DOGA. It uses the novel Tezos FA1.2 token standard. In essence, the token represents the currency of the DOGAMÍ ecosystem. It serves three purposes.
- 1.Digital voucher: the $DOGA token will be the digital voucher usable within the DOGAMÍ digital ecosystem to purchase virtual dogs, NFTs, accessories, consumables and other in-game features and add-ons. The in-game elements will have a price expressed in fiat currency, the corresponding amounts in $DOGA shall be calculated in real-time
- 2.Governance features: to promote a community-oriented decentralized governance, $DOGA tokens will allow holders to propose and vote during DAO governance meetings (i.e. Townhall Gatherings) to determine new features, upgrades, and/or parameters to the ecosystem or provide feedback. Voting weight will be calculated in proportion to the number of tokens held. The right to vote is solely restricted to voting on features in the Petaverse. It does not entitle $DOGA holders to vote on the operations and management of the Company, its affiliates or their assets nor does $DOGA constitute any equity interest in any of these entities or any collective investment scheme. The arrangement is not intended to be any form of joint venture or partnership.
- 3.Staking features: The network aims to reward active contributors. Hence, users that stake $DOGA to gain access/participate/play games, or provide liquidity on other decentralized platforms in exchange for LP tokens (Liquidity Provider), will receive rewards in the form of $DOGA or other NFT assets with utility in the Petaverse (most notably accessories).
There will be pre-determined amount of $DOGA rewards distributed every month. This is guaranteed by our early conception of the initial allocation of the 1 billion $DOGA, of which 40% are reserved for play-to-earn & staking rewards (Allocation & Unlock Schedule).
$DOGA are meant to be spent in game. For instance, buying items (consumables) in order to get a chance to achieve higher rewards. 30% of the $DOGA revenues are re-injected into the different Reward Pools following a 50:50 split in the beginning, so as to incentivise active players. The distribution may change over time as users' playing behavior progress.
In order to avoid causing a spike in the token reward supply of a given month, DOGAMÍ introduces a stable distribution mechanism. The $DOGA will be re-injected uniformly over the four months following the revenue entry date. This way, we create Reward Pools that can effectively never deplete.
Example: 100 $DOGA are spent in-game in January 2022. 30$ DOGA are to be re-injected into the system over the following four months (i.e., February to May 2022). The re-injected amount will be distributed into the different Reward Pools following a 50:50 split. Hence, each pool will receive 15 $DOGA over 4 months (3.75 $DOGA in February, March, April, May 2022).