Introducing GAMEE Token Liquidity Mining Event (16 Oct — 14 Nov 2020)
The Animoca Brands universe of blockchain experiences continues to grow, with its gaming platform GAMEE announcing it will launch the Gamee Token for casual gaming. This upcoming ERC-20 token will be used to provide skill-based rewards for players of GAMEE’s 80+ hyper casual game titles, and (in the longer run), assist game creators to publish their games on GAMEE.
The REVV Token — the utility token powering motorsport games including F1® Delta Time and the upcoming project based on MotoGP™ — is part of the Animoca Brands decentralized family. To celebrate the announcement of the Gamee Token, the REVV project is launching a special event that allows REVV-ETH liquidity providers on Uniswap to earn Gamee Tokens in the form of Gamee Voucher NFTs (total reward pool: 3,800,000 Gamee Tokens).
To start earning Gamee Vouchers, simply do the following:
1. Provide REVV liquidity via Uniswap as a REVV-ETH pair between 16 October to 12 November 2020; the earlier you act, the more rewards you will earn
2. Uniswap will mint REVV-ETH LP Tokens directly to the wallet you use to provide liquidity. These are ERC-20 tokens that serve as proof of your liquidity (these REVV-ETH LP Tokens are what you will be staking, so don’t lose them!)
3. Go to https://www.revvmotorsport.com/gamee and connect with the same wallet that you used to provide liquidity
4. Once you have connected your wallet, type the amount of REVV-ETH LP that you wish to stake, and then click the “Stake” button. Congratulations, you’re now set to start earning Gamee Vouchers for Gamee Tokens!
This being a REVV initiative, you will also be able to earn REVV. Entrants will earn 0.2% yield in REVV on the liquidity they provided, based on the REVV-ETH LP Tokens that they staked . So a user who adds 1,000,000 REVV worth of liquidity, and stakes the REVV-ETH LP Token equivalent of the liquidity provided, will receive 2,000 REVV at the end of the event.
How the Liquidity Rewards Work
Because the Gamee Token is not yet available, at the end of the liquidity mining event users who provided liquidity will be airdropped Gamee Voucher NFTs that represent a specific amount of Gamee Tokens.
When the Gamee Token launches in the near future, these NFTs can be redeemed to receive the specified amount of Gamee Tokens. There is no expiration date on when Gamee Voucher NFTs can be claimed.
Gamee Vouchers are aligned to the token value that a liquidity provider is eligible for, rounded down to the nearest 100 Gamee Tokens. The NFTs will be minted in denominations of 100, 500, 1,000, 5,000 and 10,000 Gamee Tokens each. The value of Gamee Vouchers is fixed, meaning that each NFT will always yield that amount of Gamee Tokens regardless of the market price of Gamee Tokens after the launch of the Gamee Token.
Being NFTs, the Gamee Vouchers can be bought and sold on an open market such as OpenSea.
Mechanics of Staking and Payouts
There is a total pool of 3,800,000 Gamee Tokens that can be earned during this event. The number of Gamee Tokens that a player earns is determined by the overall percentage of REVV-ETH LP Tokens that he/she has staked. For example, in a scenario where all Gamee Tokens have been unlocked for earning, a player who stakes 50% of all REVV-ETH LP Tokens staked by all users over the entire event will receive 50% of the total reward pool, being 1,900,000 Gamee Tokens (or, more precisely, Gamee Voucher NFTs representing 1,900,000 Gamee Tokens).
Please note (as explained above) that players are not being asked to stake REVV directly, but through the intermediary of REVV-ETH LP tokens. These REVV-ETH LP tokens are generated when liquidity is added to Uniswap. The specific token you need to stake in this event is the REVV-ETH LP token that is generated when REVV-ETH liquidity is added (other LP tokens will not be accepted).
Rewards are calculated weekly, with the amount of Gamee Tokens available as rewards increasing week-on-week over the duration of the 4-week event. This means that the reward for the final week will be higher than the reward of the first week of the event.
The amount of Gamee Tokens available to be earned is based on the period of the schedule AND also on the total amount of REVV-ETH LP that has been staked. The amount of REVV-ETH LP staked affects the size of the Gamee Token reward pool.
Gamee Token Mining in Brief:
- This event allows you to earn Gamee Voucher NFTs which will provide Gamee Tokens
- To participate, get REVV-ETH LP tokens by providing liquidity on Uniswap for the REVV-ETH pair
- Stake your REVV-ETH LP tokens at https://www.revvmotorsport/gamee to start earning rewards
- The event is segmented into 4 periods (each period is 7 days); the earned Gamee Tokens (in the form of Gamee Voucher NFTs) will be airdropped after the end of the event (ends on 13 November 2020)
- The amount of Gamee Tokens that can be earned increases each successive period.
- Earnings for each period are calculated based on the length of time that you stake, the amount of REVV-ETH LP tokens that you stake, and the total REVV-ETH LP Tokens staked by all participants
- The amount of REVV-ETH LP Tokens staked globally determines how many Gamee Tokens can be earned from the event, up to a maximum of 3,800,00
- Start staking at the launch of the event (11:00pm HKT on 16 October 2020) to be eligible for the first day of rewards.
The above rewards schedule shows the earn potential in the event that all Gamee Tokens are unlocked for earning (see Global Staking and Unlock Requirements below). Periods commence on 16 October 2020 and last 7 days each.
Global Staking and Unlock Requirements
Full earning and unlock breakdown of Gamee Tokens through the entire event:
It is not possible to unstake REVV-ETH LP tokens while the event is ongoing. Unstaking becomes available on 14 November 2020 (which is 30 days after the start of the event, and 2 days after the end of the event).
The Gamee Token is another token being added to the Animoca Brands blockchain universe, following on the heels of the successes like The Sandbox’s SAND and LAND tokens, REVV, and the NFTs of F1® Delta Time.
If you want to explore more of this exciting and growing network of blockchain initiatives, head over to these social networks and community channels, and jump into the evolution of blockchain gaming.
F1® Delta Time
Get started playing: https://www.gamee.com/
Originally published at https://revv-token.medium.com on October 16, 2020.